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    2908 Epperly Dr Del City, OK 73115
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    2908 Epperly Dr Del City, OK 73115

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    • Strip malls
    • 6,532 SF
    • 0.20 lot acres
    For Sale
    $2,990,000
    View Listing →
    Premier Music and Post-Production Space For Sale
    $2,990,000
    10,600 SF

    Premier Music and Post-Production Space

    Versatile space for music, post-production, live events, retail.

    2908 Epperly Dr, Del City, OK 73115
    View Listing
    Property ID
    US69-1347521
    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
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Strip malls

    Property Details for 2908 Epperly Dr

    Year built
    1945
    Construction
    MASONRY/CONCRETE MASONRY UNITS (CMUS)
    Lot size
    0.20 lot acres
    Property size
    6,532 SF
    Property type
    Strip malls
    Property subtype
    Shopping centers
    APN
    15-365-5705
    APU
    153655705

    Description

    This exceptional 10,600 square foot, two-story facility in Del City, Oklahoma, is a versatile space ideally suited for a variety of uses. Originally built in 1945 as a movie theater and extensively renovated in 2015 by renowned acoustic designer Steven Durr, it boasts exceptional sound isolation and acoustic tuning. The property features a dedicated Cox fiber internet connection and is perfect for high-quality audio recording, TV and film post-production, and live events. Its adaptable design allows for use as a commercial or private recording studio, live performance venue, church, or educational space. The building also includes a small retail space currently occupied by a vinyl record store. The property sits on a single building, zoned commercial, with a 20.5 ft ceiling height. Detailed architectural plans and a full list of optional studio equipment are available. The asking price is $2,990,000, with a price per square foot of $282.08. The property is vacant and offered under a NNN lease. The property is comprised of two units and is owned by Caste Row Studios LLC.

    Value Estimations

    based on Realmo’s proprietary methodology

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $714,000
      Market price range: $334k - $1.23M

    • Alternative Use

      Use
      Estimation
      NEIGHBORHOOD: SHOPPING CENTER
      $770,000
      Current use
      COMMERCIAL (GENERAL)
      $940,000
      Change: +22% Conversion: Easy
      RETAIL STORES
      $835,000
      Change: +9% Conversion: Easy

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

    Location Insight

    • Map
    • Local Demand
    City
    Del City
    County
    Oklahoma
    State
    Oklahoma
    Longitude
    -97.4372
    Latitude
    35.4359
    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
    $4,135
    $2,698
    $34,070
    $36,768
    -
    $28,486
    $359,699
    $388,185

    Comparable in this City

    • Value Estimation
      $1,905,000
      12,139 SF

      5529 15th St

      SHOPPING CENTER, STRIP CENTER • 12,139 SF
      5529 15th St, Del City, OK 73115-4500
      View Details
    • Value Estimation
      $795,000
      12,041 SF

      3424 15th St

      SHOPPING CENTER, STRIP CENTER • 12,041 SF
      3424 15th St, Del City, OK 73115-4904
      View Details
    • Value Estimation
      $1,580,000
      10,000 SF

      4813 29th St

      SHOPPING CENTER, STRIP CENTER • 10,000 SF
      4813 29th St, Del City, OK 73115-5003
      View Details
    • Value Estimation
      $825,000
      16,200 SF

      3901 29th St

      SHOPPING CENTER, STRIP CENTER • 16,200 SF
      3901 29th St, Del City, OK 73115-2639
      View Details
    • Value Estimation by Request
      4,224 SF

      2900 Epperly Dr

      SHOPPING CENTER, STRIP CENTER • 4,224 SF
      2900 Epperly Dr, Del City, OK 73115-3322
      View Details
    • Value Estimation by Request
      13,000 SF

      2912 Epperly Dr

      SHOPPING CENTER, STRIP CENTER • 13,000 SF
      2912 Epperly Dr, Del City, OK 73115-3322
      View Details

    Similar Nearby for Sale

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      10,600 SF

      Premier Music and Post-Production Space

      Versatile space for music, post-production, live events, retail.
      2908 Epperly Dr, Del City, OK 73115
      View Details
    • $169,750
      2,080 SF

      Del City Commercial Property For Sale

      Commercial property with two suites, visibility, and proximity to Tinker AFB.
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      View Details
    • $130,000
      0.39 Acres

      Commercial Land in Del City, OK

      Prime commercial land opportunity in Del City/Oklahoma City.
      4301 S Sunnylane Rd, Del City, OK 73115
      View Details
    • Contact for pricing
      15,000.00 Acres

      15,000 Sq. Ft. pad site

      Prced Right 3300 SE 15th St. - Del City, OK
      3300 15Th St, Del City, OK 73115
      View Details

    Similar Nearby for Lease

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      Prime Retail Space, High Traffic Area
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    • $9 SF/Yr
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      Del City Retail Investment Opportunity

      High-traffic retail space for sale/lease.
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      4407 SE 29th St, Del City, OK 73115

      Shopping centers
      4407 SE 29Th St, Del City, OK 73115
      View Details
    • Contact for pricing

      Retail Space with High Visibility

      Neighborhood retail center with strong visibility and customer access.
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      Affordable Retail Space Available

      Retail space for rent along a busy Del City corridor.
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      951 SF

      Retail and Restaurant Spaces Available

      Retail and restaurant spaces for lease near Del City High.
      1911 S Sunnylane Rd, Oklahoma City, OK 73115
      View Details
    View Listing
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    Del City, OK 73115
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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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