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

    301 I 240th Service Rd Oklahoma City, OK 73139-7701

    • Assisted living facilities
    • 26,388 SF
    • 2.16 lot acres
    OFF-MARKET
    Last Sale
    May 14, 2024
    $2,639,000
    Value Estimations
    $2,680,000
    Show details
    Cap Rate Potential
    Location Intelligence
    Property ID
    US69-2378609
    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

    • Assisted living facilities

    Property Details for 301 I 240th Service Rd

    Year built
    1967
    Construction
    STONE
    Lot size
    2.16 lot acres
    Property size
    26,388 SF
    Property type
    Assisted living facilities
    Property subtype
    Retirement homes
    APN
    10-999-1210
    APU
    109991210

    Value Estimations

    based on Realmo’s proprietary methodology

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $2,764,000
      Market price range: $1.51M - $3.78M

    • Alternative Use

      Use
      Estimation
      HOMES (RETIRED, HANDICAP, REST, CONVALESCENT, NURSING)
      $2,765,000
      Current use
      MEDICAL BUILDING
      $4,120,000
      Change: +49% Conversion: Difficult
      AUTO REPAIR, GARAGE
      $3,925,000
      Change: +42% Conversion: Difficult
      COMMERCIAL (GENERAL)
      $3,730,000
      Change: +35% Conversion: Difficult
      OFFICE BUILDING
      $3,385,000
      Change: +22% Conversion: Difficult
      RETAIL STORES
      $3,255,000
      Change: +18% Conversion: Difficult
      NEIGHBORHOOD: SHOPPING CENTER
      $2,990,000
      Change: +8% Conversion: Difficult

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

    Location Insight

    • Map
    • Local Demand
    City
    Oklahoma City
    County
    Oklahoma
    State
    Oklahoma
    Longitude
    -97.5169
    Latitude
    35.3926
    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
    $0.00
    $0.00
    $0.00
    $0.00
    -
    $0.00
    $0.00
    $0.00

    Comparable in this City

    • Value Estimation
      $2,315,000
      25,127 SF

      400 79th St

      HOMES (RETIRED, NURSING) • 25,127 SF
      400 79th St, Oklahoma City, OK 73139-8120
      View Details
    • Value Estimation
      $3,410,000
      41,898 SF

      315 80th St

      HOMES (RETIRED, NURSING) • 41,898 SF
      315 80th St, Oklahoma City, OK 73139-8124
      View Details
    • Value Estimation
      $5,225,000
      117,636 SF

      9900 Western Ave

      HOMES (RETIRED, NURSING) • 117,636 SF
      9900 Western Ave, Oklahoma City, OK 73139-2952
      View Details
    • Value Estimation
      $545,000
      5,586 SF

      800 64th St

      HOMES (RETIRED, NURSING) • 5,586 SF
      800 64th St, Oklahoma City, OK 73139-4130
      View Details
    • Value Estimation
      $3,030,000
      64,929 SF

      940 84th St

      HOMES (RETIRED, NURSING) • 64,929 SF
      940 84th St, Oklahoma City, OK 73139-9255
      View Details
    • Value Estimation
      $1,925,000
      8,863 SF

      6501 Western Ave

      MEDICAL BUILDING • 8,863 SF
      6501 Western Ave, Oklahoma City, OK 73139-1709
      View Details

    Similar Nearby for Sale

    • $960,000
      2,344 SF

      I-240 Pad Site: Prime Retail Location

      High-visibility retail pad, 2,344 SF, Oklahoma City.
      912 I-240 Service Rd, Oklahoma City, OK 73139
      View Details
    • $375,223

      Oklahoma City Commercial Land

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    • $580,000
      8.32 Acres

      8.32 Acres Residential Land For Sale - 8612 S. Walker Avenue

      8.32 Acres Residential Land For Sale - 8612 S. Walker Avenue
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      View Details
    • Contact for pricing

      1,000 Acre Development Site

      1,000 acre development site with retail potential.
      I-44 SW 89Th St, Oklahoma City, OK 73139
      View Details
    • $2,584,000
      22,500 SF

      38-Unit Apartment Complex For Sale

      38-unit apartment complex with renovated units and on-site laundry.
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    • Contact for pricing
      23,915 SF

      Automotive Sales and Service Property

      Versatile property designed for automotive sales and service in Oklahoma City.
      208 Service Rd, Oklahoma City, OK 73139
      View Details

    Similar Nearby for Lease

    • $20 SF/Yr
      8,178 SF

      Oklahoma City Medical Office Building

      8,178 SF Medical Office, Ample Parking
      937 89Th St, Oklahoma City, OK 73139
      View Details
    • $18 SF/Yr
      10,000 SF

      Shoppes on 89th: Retail Space

      Oklahoma City retail space, 1,340 sq ft available.
      3000 89Th St, Oklahoma City, OK 73139
      View Details
    • $9 SF/Yr
      1,250 SF

      Industrial Space Available For Lease

      Industrial property with 1,250 square feet available for lease.
      11621 N Santa Fe Ave, Oklahoma City, OK 73139
      View Details
    • $13 SF/Yr
      2,840 SF

      Retail Space on S Western

      Retail space available along a busy corridor on S Western.
      7317-7435 S Western Ave, Oklahoma City, OK 73139
      View Details
    • $19 SF/Yr
      5,267 SF

      Office Space with Lake Views

      Office space for rent with ample parking and lake views.
      3503 NW 63Rd St, Oklahoma City, OK 73139
      View Details
    • Contact for pricing

      Land for Rent Oklahoma City

      Land available for rent in Oklahoma City.
      1120 NW 63Rd St, Oklahoma City, OK 73139
      View Details
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    Oklahoma City, OK 73139-7701
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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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