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    The Largest CRE Database in the US with Over 1 Million Listings
    Property profile & analytics

    24 51st St Oklahoma City, OK 73105-1820

    • Warehouses
    • 15,000 SF
    • 2.08 lot acres
    OFF-MARKET
    Last Sale
    Jul 19, 2021
    $1,200,000
    Value Estimations
    $1,150,000
    Show details
    Cap Rate Potential
    Location Intelligence
    Property ID
    US69-0374375
    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

    • IT-Re, Inc. / Computer Service

    Property Details for 24 51st St

    Year built
    1985
    Construction
    STEEL FRAME
    Lot size
    2.08 lot acres
    Property size
    15,000 SF
    Property type
    Warehouses
    APN
    08-575-8100
    APU
    85758100

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      Statistic approach
      $1,085,000
      ML approach
      $1,120,000

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $1,494,000
      Market price range: $627k - $1.49M

    • Alternative Use

      Use
      Estimation
      WAREHOUSE, STORAGE
      $1,035,000
      Current use
      RETAIL STORES
      $1,850,000
      Change: +79% Conversion: Moderate
      NEIGHBORHOOD: SHOPPING CENTER
      $1,700,000
      Change: +64% Conversion: Moderate
      COMMERCIAL (GENERAL)
      $1,480,000
      Change: +43% Conversion: Difficult

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

    Location Insight

    • Map
    • Local Demand
    City
    Oklahoma City
    County
    Oklahoma
    State
    Oklahoma
    Longitude
    -97.5109
    Latitude
    35.5228
    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
    $15,148
    $24,244
    $99,093
    $123,337
    -
    $220,408
    $900,842
    $1,121,250

    Comparable in this City

    • Value Estimation by Request
      30,600 SF

      7004 Oklahoma Ct

      WAREHOUSE, STORAGE • 30,600 SF
      7004 Oklahoma Ct, Oklahoma City, OK 73105-1212
      View Details
    • Value Estimation
      $2,085,000
      19,888 SF

      4605 Stiles Ave

      WAREHOUSE, STORAGE • 19,888 SF
      4605 Stiles Ave, Oklahoma City, OK 73105-3328
      View Details
    • Value Estimation by Request
      7,350 SF

      4601 Walnut Ave

      WAREHOUSE, STORAGE • 7,350 SF
      4601 Walnut Ave, Oklahoma City, OK 73105-2033
      View Details
    • Value Estimation
      $1,550,000
      21,200 SF

      4019 Walnut Ave

      WAREHOUSE, STORAGE • 21,200 SF
      4019 Walnut Ave, Oklahoma City, OK 73105-3748
      View Details
    • Value Estimation
      $1,895,000
      37,337 SF

      511 31st St

      WAREHOUSE, STORAGE • 37,337 SF
      511 31st St, Oklahoma City, OK 73105-4007
      View Details
    • Value Estimation
      $795,000
      10,854 SF

      4000 Lindsay Ave

      WAREHOUSE, STORAGE • 10,854 SF
      4000 Lindsay Ave, Oklahoma City, OK 73105-7244
      View Details

    Similar Nearby for Sale

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      Commercial Office and Warehouse Space

      Commercial office and warehouse space in a prime Oklahoma City location.
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      Well-maintained duplex in improving area, ideal for investors.
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    Similar Nearby for Lease

    • $7 SF/Yr
      23,700 SF

      Climate Controlled Warehouse with Office

      17,405 SF climate-controlled warehouse with 6,295 SF office space.
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      View Details
    • Contact for pricing
      2,631 SF

      Industrial Space with Truck Court

      Industrial space featuring a 90' truck court for lease.
      4325 SW 21St St, Oklahoma City, OK 73105
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    • $7 SF/Yr
      33,970 SF

      New Industrial Warehouse Space Available

      Newly built warehouse with excellent location and strategic distribution radius.
      200 NE 34Th St, Oklahoma City, OK 73105
      View Details
    • $6 SF/Yr
      18,068 SF

      Warehouse Space Available For Rent

      Industrial warehouse space featuring dock doors and high ceilings.
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      View Details
    • $15 SF/Yr
      6,546 SF

      Oklahoma City Industrial Flex Space

      6,546 SF Flex Space - Sale or Lease
      5235 N. Lincoln Boulevard, Oklahoma City, OK 73105
      View Details
    • $3 SF/Yr
      9,850 SF

      Warehouse/Office Space For Rent

      Warehouse and office space located 4 miles north of Downtown OKC.
      4800 North Stiles Ave, Oklahoma City, OK 73105
      View Details
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    24 51st St
    Oklahoma City, OK 73105-1820
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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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