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

    3005 Owen K Garriott Rd Enid, OK 73703-5235

    • Hotels
    • 65,626 SF
    • 3.05 lot acres
    OFF-MARKET
    Last Sale
    Mar 01, 2022
    $2,650,000
    Value Estimations
    $2,490,000
    Show details
    Cap Rate Potential
    Location Intelligence
    Property ID
    US69-0916332
    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

    • Ramada by Wyndham Enid / Motel / Hotel
    • Raymie's / American Restaurant
    • LibertyX Bitcoin ATM / Atm
    • The Lounge @ Ramada / Bar

    Property Details for 3005 Owen K Garriott Rd

    Year built
    1971
    Lot size
    3.05 lot acres
    Property size
    65,626 SF
    Property type
    Hotels
    APN
    0000-14-22N-07W-1-354-00
    APU
    00001422N07W135400

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      Statistic approach
      $2,665,000
      ML approach
      $2,370,000

    • Comparable approach

      Method
      Estimation
      AI Estimate
      $2,108,000
      Market price range: $1.31M - $2.66M

    • Alternative Use

      Use
      Estimation
      HOTEL/MOTEL
      $1,830,000
      Current use
      WAREHOUSE, STORAGE
      $3,990,000
      Change: +118% Conversion: Difficult

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

    Location Insight

    • Map
    • Local Demand
    City
    Enid
    County
    Garfield
    State
    Oklahoma
    Longitude
    -97.9159
    Latitude
    36.39
    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
    $93,711
    $56,524
    $831,400
    $887,924
    -
    $452,190
    $6,651,199
    $7,103,389

    Comparable in this City

    • Value Estimation
      $1,120,000
      30,022 SF

      4702 Owen K Garriott Rd

      HOTEL • 30,022 SF
      4702 Owen K Garriott Rd, Enid, OK 73703-4637
      View Details
    • Value Estimation
      $770,000
      39,419 SF

      210 Van Buren St

      HOTEL • 39,419 SF
      210 Van Buren St, Enid, OK 73703-4501
      View Details
    • Value Estimation
      $800,000
      24,184 SF

      5103 Owen K Garriott Rd

      HOTEL • 24,184 SF
      5103 Owen K Garriott Rd, Enid, OK 73703-4645
      View Details
    • Value Estimation
      $1,205,000
      45,295 SF

      5815 K L Dr

      HOTEL • 45,295 SF
      5815 K L Dr, Enid, OK 73703-6018
      View Details
    • Value Estimation
      $800,000
      25,300 SF

      4914 Owen K Garriott Rd

      HOTEL • 25,300 SF
      4914 Owen K Garriott Rd, Enid, OK 73703-4640
      View Details
    • Value Estimation
      $795,000
      22,332 SF

      710 Ml Run

      HOTEL • 22,332 SF
      710 Ml Run, Enid, OK 73703-6077
      View Details

    Similar Nearby for Sale

    • $1,200,000
      9,400 SF

      Prime Retail Property on Highway

      Excellent retail property on a highly coveted highway stretch.
      2610 W Owen K Garriott Rd, Enid, OK 73703
      View Details
    • $75,000

      Enid, OK Land Lot

      Land lot in Belle Crossing, Chisholm School District.
      2730 Belle Crossing Dr, Enid, OK 73703
      View Details
    • New
      $350,000
      0.51 Acres

      Westedge L1, B1

      1/2 acre Tract A++ Enid, OK
      5800 W Owen K. Garriott Rd, Enid, OK 73703
      View Details
    • $749,000
      2,400 SF

      Enid Restaurant/Retail Opportunity

      Established fast-casual dining location with flexible opportunities.
      309 S Van Buren St, Enid, OK 73703
      View Details
    • $189,900

      Enid Corner Industrial Land

      High-visibility industrial land near Vance Air Force Base.
      3129 S Van Buren St, Enid, OK 73703
      View Details
    • $265,000

      Prime Commercial Corner Lot

      2 acre commercial lot at Highway 412 and Wheatridge.
      601 S Wheatridge Rd, Enid, OK 73703
      View Details

    Similar Nearby for Lease

    • $12 SF/Yr
      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
    • 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
    • $12 SF/Yr
      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
    • $12 SF/Yr
      1,600 SF

      Retail Space in Growing Market

      Retail space ideal for retail, service, or restaurant use.
      2126 N Van Buren St, Enid, OK 73703
      View Details
    • Contact for pricing
      108,095 SF

      Willow Plaza Retail Center

      Enid, OK Shopping Center Opportunity
      2311 Willow Rd, Enid, OK 73703
      View Details
    • $24 SF/Yr
      2,514 SF

      Restaurant Space For Rent

      2nd Gen restaurant space available for rent.
      5610 W Owen K Garriott Rd, Enid, OK 73703
      View Details
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    Enid, OK 73703-5235
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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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