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    Property profile & analytics

    2315 Council Rd Oklahoma City, OK 73127

    This 2.6-acre property is located at the southwest corner of NW 23rd and Council in Oklahoma City. Zoned residential, the lot was previously occupied by Ruby's Garden Center and is suitable for rezoning to commercial use. The property offers visibility and access, making it potentially suitable for various business ventures, including retail centers, office complexes, restaurant sites, or mixed-use developments. It is located near Lake Overholser and approximately 20 minutes from downtown Oklahoma City.
    • Retail properties
    • 2.62 lot acres
    OFF-MARKET
    Last Sale
    Jan 12, 2024
    Value Estimations
    $275,000
    Show details
    Cap Rate Potential
    Location Intelligence
    Property ID
    US69-0676473
    The Realmo ID is a unique identifier assigned to every property, incorporating country codes and precise geo-coordinates for 300x300-foot land blocks. It enables standardized data collection and seamless integration of disparate sources such as ownership, tax, title data and physical specifications. By aggregating current and historical records, the Realmo ID powers advanced analytics and delivers deep, verifiable insights for real estate professionals.

    Current Use by Public Records

    • Retail properties

    Property Details for 2315 Council Rd

    Year built
    1985
    Lot size
    2.62 lot acres
    Property type
    Retail properties
    APN
    14-796-0375
    APU
    147960375

    Property Overview

    This 2.6-acre property is located at the southwest corner of NW 23rd and Council in Oklahoma City. Zoned residential, the lot was previously occupied by Ruby's Garden Center and is suitable for rezoning to commercial use. The property offers visibility and access, making it potentially suitable for various business ventures, including retail centers, office complexes, restaurant sites, or mixed-use developments. It is located near Lake Overholser and approximately 20 minutes from downtown Oklahoma City.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      ML approach
      $275,000

    Get a detailed, property-specific valuation — fast and free

    Location Insight

    • Map
    • Local Demand
    City
    Oklahoma City
    County
    Oklahoma
    State
    Oklahoma
    Longitude
    -97.6549
    Latitude
    35.4927
    CBSA code
    36420
    CBSA name
    OKLAHOMA CITY, OK METROPOLITAN STATISTICAL AREA

    Property Tax & Assessments

    Tax date
    Tax Amount
    Assessed Land Value
    Assessed Improvement Value
    Total Assessed Value
    Applied Tax Rate
    Land Market Value
    Improvement Market Value
    Total Market Value
    2023
    $2,526
    $18,231
    $2,486
    $20,717
    -
    $313,849
    $42,795
    $356,644

    Comparable in this City

    • Value Estimation
      $810,000
      90,989 SF

      7113 10th St

      SHOPPING CENTER, STRIP CENTER • 90,989 SF
      7113 10th St, Oklahoma City, OK 73127-4601
      View Details
    • Value Estimation
      $225,000
      1,204 SF

      4545 10th St

      AUTO REPAIR, GARAGE • 1,204 SF
      4545 10th St, Oklahoma City, OK 73127-5917
      View Details
    • Value Estimation
      $455,000
      11,899 SF

      6029 23rd St

      SHOPPING CENTER, STRIP CENTER • 11,899 SF
      6029 23rd St, Oklahoma City, OK 73127-1253
      View Details
    • Value Estimation
      $275,000
      800 SF

      8011 23rd St

      SHOPPING CENTER, STRIP CENTER • 800 SF
      8011 23rd St, Oklahoma City, OK 73127
      View Details
    • Value Estimation
      $245,000
      1,200 SF

      1104 Macarthur Blvd

      AUTO REPAIR, GARAGE • 1,200 SF
      1104 Macarthur Blvd, Oklahoma City, OK 73127-4327
      View Details
    • Value Estimation
      $750,000
      46,113 SF

      305 Macarthur Blvd

      RETAIL STORES (PERSONAL SERVICES) • 46,113 SF
      305 Macarthur Blvd, Oklahoma City, OK 73127-6640
      View Details

    Similar Nearby for Sale

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      Oklahoma City Warehouse - $1M

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      Versatile Commercial Property For Sale

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      West Reno Ave Bar/Restaurant

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      High-Traffic Corner Retail Opportunity

      Prime corner location suitable for redevelopment or owner-user.
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    • $7,657,000
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      New 7-Eleven NNN Lease

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      Retail Showroom with Fenced Yard

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    Similar Nearby for Lease

    • Contact for pricing
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      Premier Retail Destination in Oklahoma

      Super-regional shopping center in Oklahoma City MSA for lease.
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      Retail Space Available For Lease

      Retail space available near Westgate Marketplace in Oklahoma City.
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    • $1,050,000
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      Freestanding Restaurant with Drive-Thru

      Freestanding restaurant with drive-thru near Tinker Air Force Base.
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    • $12 SF/Yr
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      Renovated Stand-Alone Building For Lease

      Recently renovated stand-alone building with retail and flex space.
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    • $1,975 /Mo
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      1,880 SF Retail/Office Building For Lease-4835 N.W. 10th Street

      1,880 SF Retail/Office Building For Lease-4835 N.W. 10th Street
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      View Details
    • $800 /Mo
      1,200 SF

      Retail Space in Shopping Center

      Retail spaces available in MacArthur Park Shopping Center.
      2308-2324 N Macarthur Blvd, Oklahoma City, OK 73127
      View Details
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    2315 Council Rd
    Oklahoma City, OK 73127
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    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
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