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

    2837 44Th St Oklahoma City, OK 73119

    • Strip malls
    • 6,519 SF
    • 0.48 lot acres
    For Lease
    View listing
    $15 SF/Yr
    Last Sale
    May 08, 2024
    Value Estimations
    Cap Rate Potential
    Location Intelligence
    Property ID
    US69-2412385
    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

    • Estrella Centro Naturista / Vitamin & Supplements Store
    • OKC TEEZ - S.W. 44th St. Store / Custom T-Shirt Store / T-Shirt Company
    • Fabulous cannabis southside / Cannabis Club / Herb Shop
    • LibertyX Bitcoin ATM / Atm
    • Cathy's Beauty Salon / Beauty Salon

    Property Details for 2837 44Th St

    Year built
    1956
    Construction
    BRICK
    Lot size
    0.48 lot acres
    Property size
    6,519 SF
    Property type
    Strip malls
    Property subtype
    Neighborhood centers
    APN
    07-412-9600
    APU
    74129600

    Description

    Carrillo Plaza, located at 2837 SW 44th St in Oklahoma City, Oklahoma, presents a compelling retail investment opportunity. This established commercial property, built in 1956, offers a total of 6,519 square feet, with 1,940 square feet currently vacant and available for lease. The property is situated in Oklahoma County, zip code 73119, and enjoys a convenient location just east of the high-traffic intersection of S May Avenue and SW 44th Street, ensuring excellent visibility and accessibility for potential tenants. The building's multiple tenancy structure provides flexibility for various retail businesses. The available space offers significant potential for a variety of uses, benefiting from its established location and proximity to major thoroughfares. This is an ideal opportunity for businesses seeking a well-positioned retail space in a thriving Oklahoma City neighborhood. The property's existing infrastructure and established presence provide a solid foundation for immediate occupancy and business operations. Interested parties are encouraged to explore the potential of this prime retail space. The 1,940 square foot vacant area presents a unique chance to establish a new business or expand an existing one within a well-established commercial center.

    Value Estimations

    based on Realmo’s proprietary methodology

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $1,171,000
      Market price range: $346k - $1.17M

    • Alternative Use

      Use
      Estimation
      NEIGHBORHOOD: SHOPPING CENTER
      $740,000
      Current use
      MEDICAL BUILDING
      $1,020,000
      Change: +38% Conversion: Difficult
      AUTO REPAIR, GARAGE
      $970,000
      Change: +31% Conversion: Difficult
      OFFICE BUILDING
      $835,000
      Change: +13% Conversion: Moderate
      RETAIL STORES
      $705,000
      Change: -4% Conversion: Easy

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

    Location Insight

    • Map
    • Local Demand
    City
    Oklahoma City
    County
    Oklahoma
    State
    Oklahoma
    Longitude
    -97.5645
    Latitude
    35.421
    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
    $5,897
    $6,158
    $43,681
    $49,839
    -
    $62,730
    $444,967
    $507,697

    Comparable in this City

    • Value Estimation
      $560,000
      8,520 SF

      5232 Pennsylvania Ave

      SHOPPING CENTER, STRIP CENTER • 8,520 SF
      5232 Pennsylvania Ave, Oklahoma City, OK 73119-6003
      View Details
    • Value Estimation
      $2,030,000
      69,760 SF

      4500 May Ave

      SHOPPING CENTER, STRIP CENTER • 69,760 SF
      4500 May Ave, Oklahoma City, OK 73119-4602
      View Details
    • Value Estimation
      $1,415,000
      44,190 SF

      3500 Newcastle Rd

      SHOPPING CENTER, STRIP CENTER • 44,190 SF
      3500 Newcastle Rd, Oklahoma City, OK 73119-1436
      View Details
    • Value Estimation
      $12,050,000
      81,730 SF

      4528 Pennsylvania Ave

      SHOPPING CENTER, STRIP CENTER • 81,730 SF
      4528 Pennsylvania Ave, Oklahoma City, OK 73119-4903
      View Details
    • Value Estimation
      $1,485,000
      9,480 SF

      2323 29th St

      SHOPPING CENTER, STRIP CENTER • 9,480 SF
      2323 29th St, Oklahoma City, OK 73119-2017
      View Details
    • Value Estimation
      $950,000
      5,850 SF

      3100 Pennsylvania Ave

      SHOPPING CENTER, STRIP CENTER • 5,850 SF
      3100 Pennsylvania Ave, Oklahoma City, OK 73119-2158
      View Details

    Similar Nearby for Sale

    • $6,100,000
      111,257 SF

      111,257 SF on 12.32 Acres Value Add-Almonte Shopping Center For Sale

      111,257 SF on 12.32 Acres Value Add-Almonte Shopping Center For Sale
      2906-2962 SW 59th Street, Oklahoma City, OK 73119
      View Details
    • $650,000
      4,710 SF

      Income-Producing Restaurant and Retail Buildings

      Two buildings with long-term tenants and high-visibility signage.
      2415 SW 59Th St, Oklahoma City, OK 73119
      View Details
    • $225,000
      1,485 SF

      Oklahoma City Commercial Property For Sale

      Commercial property in high-traffic area, Oklahoma City, OK.
      2236 SW 59Th St, Oklahoma City, OK 73119
      View Details
    • $3,250,000

      Land Near Highway and Airport

      Land with railway access, near airport and highway.
      3800 SW 29Th St, Oklahoma City, OK 73119
      View Details
    • Contact for pricing
      118,946 SF

      Industrial Warehouse on 6.49 Acres

      118,946 SF industrial warehouse with ample parking and security.
      4249 SW 29Th St, Oklahoma City, OK 73119
      View Details
    • $775,000
      Pending

      Multi-Unit Property Near Airport

      13-unit multifamily property near Will Rogers Airport and Downtown OKC.
      4300 S Portland Ave, Oklahoma City, OK 73119
      View Details

    Similar Nearby for Lease

    • $15 SF/Yr
      6,519 SF

      Oklahoma City Retail Center

      Prime Retail Space Available, 1940 sq ft
      2837 44Th St, Oklahoma City, OK 73119
      View Details
    • $12 SF/Yr
      2,580 SF

      Retail Space with Flexible Layout

      Open retail space in convenient location near amenities and major corridors.
      3121 N Pennsylvania Ave, Oklahoma City, OK 73119
      View Details
    • $1,100 /Mo
      500 SF

      Retail Space Near Tinker AFB

      Retail space available near Del City Post Office and Tinker AFB.
      4525-4541 SE 29Th St, Oklahoma City, OK 73119
      View Details
    • $7 SF/Yr
      1,580 SF

      Retail Space with High Visibility

      Retail space with great access, visibility, and ample parking.
      1327-1339 SW 59Th St, Oklahoma City, OK 73119
      View Details
    • $2,000 /Mo
      2,000 SF

      Climate Controlled Office Warehouse Space

      2,000 SF climate controlled office and warehouse space for lease.
      3208 SW 59Th St, Oklahoma City, OK 73119
      View Details
    • $12 SF/Yr
      4,000 SF

      Oklahoma City Flex Space Available

      Two Industrial Units, Flexible Lease Options
      3204 59Th St, Oklahoma City, OK 73119
      View Details
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    2837 44Th St
    Oklahoma City, OK 73119
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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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