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    2316 Owen K Garriott Rd Enid, OK 73703-5535

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    2316 Owen K Garriott Rd Enid, OK 73703-5535

    View on Map
    • Strip malls
    • 42,000 SF
    • 1.97 lot acres
    Off-Market
    Property ID
    US69-0811157
    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.
    Value Estimations
    $785,000
    Show details
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Hornbill Asian Market / (Bike/Boat/Book/etc) Store / Grocery & Convenience Store

    Property Details for 2316 Owen K Garriott Rd

    Year built
    1960
    Lot size
    1.97 lot acres
    Property size
    42,000 SF
    Property type
    Strip malls
    Property subtype
    Shopping centers
    APN
    0000-12-22N-07W-3-620-00
    APU
    00001222N07W362000

    Description

    Westgate Plaza, located at 2316 W Owen K Garriott Rd in Enid, Oklahoma, presents a significant retail or restaurant opportunity. This single-suite, 3,080 square foot building offers exceptional visibility and accessibility at the northeast corner of Owen Garriott Road and Cleveland Street. The property's strategic location provides multiple access points, maximizing convenience for both customers and employees. Situated in Garfield County, this space is ideally positioned within Enid, Oklahoma's vibrant commercial landscape. Enid, the ninth largest city in Oklahoma, boasts a population exceeding 50,000 residents, creating a substantial customer base. The proximity to Vance Air Force Base, approximately three miles away, further enhances the property's appeal and potential for a thriving business. The entire 3,080 square feet is currently vacant, presenting a blank canvas for a new tenant to customize and develop. This prime retail space offers a unique chance to establish a successful enterprise in a well-established and growing community. The property's size and location make it suitable for a variety of retail or restaurant concepts. Interested parties are encouraged to explore the potential of this exceptional commercial property. The zip code is 73703.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      ML approach
      $750,000

    • Comparable approach

      Method
      Estimation
      AI Estimate
      $819,000
      Market price range: $704k - $2.01M

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

    Location Insight

    • Map
    • Local Demand
    City
    Enid
    County
    Garfield
    State
    Oklahoma
    Longitude
    -97.907
    Latitude
    36.3914
    CBSA code
    21420
    CBSA name
    ENID, OK MICROPOLITAN 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
    $21,788
    $49,798
    $156,651
    $206,449
    -
    $647,030
    $1,856,490
    $2,503,520

    Comparable in this City

    • Value Estimation by Request
      11,200 SF

      Owen K Garriott Rd

      SHOPPING CENTER, STRIP CENTER • 11,200 SF
      Owen K Garriott Rd, Enid, OK 73703
      View Details
    • Value Estimation by Request
      5,330 SF

      721 Oakwood Rd

      SHOPPING CENTER, STRIP CENTER • 5,330 SF
      721 Oakwood Rd, Enid, OK 73703-6204
      View Details
    • Value Estimation
      $2,000,000
      13,500 SF

      4110 Owen K Garriott Rd

      SHOPPING CENTER, STRIP CENTER • 13,500 SF
      4110 Owen K Garriott Rd, Enid, OK 73703-4805
      View Details
    • Value Estimation by Request
      3,784 SF

      2324 Owen K Garriott Rd

      SHOPPING CENTER, STRIP CENTER • 3,784 SF
      2324 Owen K Garriott Rd, Enid, OK 73703-5535
      View Details
    • Value Estimation
      $1,215,000
      31,430 SF

      4408 Owen K Garriott Rd

      SHOPPING CENTER, STRIP CENTER • 31,430 SF
      4408 Owen K Garriott Rd, Enid, OK 73703-4825
      View Details
    • Value Estimation
      $680,000
      18,837 SF

      2200 Willow Rd

      SHOPPING CENTER, STRIP CENTER • 18,837 SF
      2200 Willow Rd, Enid, OK 73703-2405
      View Details

    Similar Nearby for Sale

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      14,300 SF

      Enid, OK Retail Center

      Retail center in Enid, OK available for sale.
      2126 N Van Buren St, Enid, OK 73703
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    • $1,200,000
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      2610 W. Owne K Garriott Rd. - Enid, OK Rainbow Sport Honda Yamaha

      2610 W. Owen K. Garriott / Highway 412 - Coveted and rare 1+ acre tract and 9400 sq. ft. improvment in Enid's A++ area.
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    • $75,000
      3,212 SF

      Enid Retail Building with Drive-Thru

      Vacant restaurant/retail building with drive-thru on 0.923 acres.
      606 S Garland Rd, Enid, OK 73703
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      2,400 SF

      Enid Restaurant/Retail Opportunity

      Established fast-casual dining location with flexible opportunities.
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      3,253 SF

      Aspen Dental Investment Opportunity

      Corporate guaranteed Aspen Dental with over 7 years remaining.
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      4,081 SF

      Enid, OK IHOP Investment

      NNN leased IHOP with long-term commitment and annual rent increases.
      4125 W Owen K Garriott Rd, Enid, OK 73703
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    Similar Nearby for Lease

    • Contact for pricing
      8,000 SF

      Retail Space in High Traffic Area

      Retail spaces available in a high-traffic shopping center.
      2311-2333 W Willow Rd, Enid, OK 73703
      View Details
    • Contact for pricing

      Enid, OK Neighborhood Shopping Center

      Neighborhood shopping center with diverse tenant mix in Enid, OK.
      2311 W Willow Rd, Enid, OK 73703
      View Details
    • Contact for pricing
      3,328 SF

      3,328 SF on 0.92 Acres Restaurant Building For Lease - 606 S. Garland Road

      3,328 SF on 0.92 Acres Restaurant Building For Lease - 606 S. Garland Road
      606 S. Garland Road, Enid, OK 73703
      View Details
    • $22 SF/Yr
      1,600 SF

      Retail Space For Lease

      Retail space available, anchored by national retailers, high traffic location.
      4406 W Owen K Garriott Rd, Enid, OK 73703
      View Details
    • Contact for pricing

      Restaurant Space For Rent

      2nd Gen restaurant space available for rent.
      5610 W Owen K Garriott Rd, Enid, OK 73703
      View Details
    • Contact for pricing
      4,918 SF

      Enid Office Space For Rent

      Office space available in Enid, multiple size options.
      1420 W Owen K Garriott Rd, Enid, OK 73703
      View Details
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    Enid, OK 73703-5535
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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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