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

    24055 Hwy 51 Broken Arrow, OK 74014-3718

    • Grocery and convenience stores
    • 6,336 SF
    OFF-MARKET
    Value Estimations
    $525,000
    Show details
    Cap Rate Potential
    Location Intelligence
    Property ID
    US69-2194518
    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

    • Grocery and convenience stores

    Property Details for 24055 Hwy 51

    Year built
    2016
    Property size
    6,336 SF
    Property type
    Grocery and convenience stores
    APN
    060370-001001-000000
    APU
    60370001001000000

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      ML approach
      $505,000

    • Comparable approach

      Method
      Estimation
      AI Estimate
      $547,000
      Market price range: $445k - $590k

    • Alternative Use

      Use
      Estimation
      RESTAURANT
      $600,000
      AUTO REPAIR, GARAGE
      $515,000
      OFFICE BUILDING
      $490,000
      MEDICAL BUILDING
      $440,000
      RETAIL STORES
      $410,000
      WAREHOUSE, STORAGE
      $355,000

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

    Location Insight

    • Map
    • Local Demand
    City
    Broken Arrow
    County
    Wagoner
    State
    Oklahoma
    Longitude
    -95.7088
    Latitude
    36.0198
    CBSA code
    46140
    CBSA name
    TULSA, 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
    $26,287
    $71,502
    $156,490
    $227,992
    -
    $839,987
    $1,524,803
    $2,364,790

    Comparable in this City

    • Value Estimation
      $290,000
      2,532 SF

      23806 71st S St

      CONVENIENCE STORE • 2,532 SF
      23806 71st S St, Broken Arrow, OK 74014-8105
      View Details
    • Value Estimation
      $2,320,000
      5,931 SF

      2400 Kenosha St

      CONVENIENCE STORE • 5,931 SF
      2400 Kenosha St, Broken Arrow, OK 74014-6718
      View Details
    • Value Estimation
      $250,000
      1,188 SF

      3800 Hillside Dr, Unit BA

      CONVENIENCE STORE • 1,188 SF
      3800 Hillside Dr, Broken Arrow, OK 74014-6757
      View Details
    • Value Estimation
      $330,000
      4,280 SF

      3108 209th E Aveba

      CONVENIENCE STORE • 4,280 SF
      3108 209th E Aveba, Broken Arrow, OK 74014-5133
      View Details
    • Value Estimation
      $1,050,000
      4,858 SF

      3825 Kenosha St, Unit BA

      CONVENIENCE STORE • 4,858 SF
      3825 Kenosha St, Broken Arrow, OK 74014-6761
      View Details
    • Value Estimation
      $350,000
      4,514 SF

      8100 Hwy 51

      CONVENIENCE STORE • 4,514 SF
      8100 Hwy 51, Broken Arrow, OK 74014-2901
      View Details

    Similar Nearby for Sale

    • $1,350,000
      2,753 SF

      Retail Property in Broken Arrow

      Retail property available for sale in Broken Arrow, Oklahoma.
      24100 E State Highway 51, Broken Arrow, OK 74014
      View Details
    • $895,000
      Pending

      18.8 Acres in Neel Estates

      Premier development land in Broken Arrow, Oklahoma.
      14219 S 198 Ave E, Broken Arrow, OK 74014
      View Details
    • $595,000
      2.60 Acres

      Prime Broken Arrow Commercial Land

      2.6 Acres, Ideal Light Commercial Use
      5203 193 Ave, Broken Arrow, OK 74014
      View Details
    • Contact for pricing
      16,500 SF

      Broken Arrow Warehouse Space

      16,500 SF warehouse space in Broken Arrow, Oklahoma.
      10912 S 265Th East Ave, Broken Arrow, OK 74014
      View Details
    • $300,000
      2.50 Acres

      2.5 Acre Land with Pond

      Unique 2.5-acre property with pond, woods, and open space.
      21st E 21St St S, Broken Arrow, OK 74014
      View Details
    • $225,000
      1.83 Acres

      Residential Lot in Neel Estates

      1.8 acre residential lot in Broken Arrow's Neel Estates.
      14191 S 198Th East Ave, Broken Arrow, OK 74014
      View Details

    Similar Nearby for Lease

    • $39 SF/Yr
      18,564 SF

      Retail Space Available Q3 2024

      Retail space for rent, available Q3 2024 in Broken Arrow.
      N 23Rd St, Broken Arrow, OK 74014
      View Details
    • $20 SF/Yr
      2,464 SF

      Retail Space in Broken Arrow

      Retail space available for lease in Broken Arrow, Oklahoma.
      2401 N 23Rd St, Broken Arrow, OK 74014
      View Details
    • Contact for pricing
      1,915 SF

      Retail Space in Broken Arrow

      Retail space available for lease in Broken Arrow, Oklahoma.
      1148 N 38Th St, Broken Arrow, OK 74014
      View Details
    • $16 SF/Yr
      3,344 SF

      Broken Arrow Office/Retail Space

      3,344 SF office/retail space available for lease.
      13101 S 193Rd East Ave, Broken Arrow, OK 74014
      View Details
    • $39 SF/Yr
      15,064 SF

      Adams Creek Town Center: Prime Retail

      Broken Arrow, OK Retail Power Center
      0 23Rd St, Broken Arrow, OK 74014
      View Details
    • $2,000 /Mo
      2,400 SF

      Office Space For Lease

      Office space available for lease, suitable for various businesses.
      9040 Highway 51 S, Broken Arrow, OK 74014
      View Details
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    24055 Hwy 51
    Broken Arrow, OK 74014-3718
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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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