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Property profile & analytics
FOR SALE
Retail space
3035 NE 23Rd St Oklahoma City, OK 73121
Entity Owned
1-yr Hold
Free & Clear
Property ID
US69-0584552
For Sale
1 / 4
Contact for pricing
3035 NE 23Rd St, Oklahoma City, OK 73121
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Property profile
Verified
Property type
Retail space
Use group
RETAIL STORES (PERSONAL SERVICES)
Year built
2000
Construction
STEEL FRAME
Total area
2,480 SF
Lot
8.49 ac (369,824 SF)
APN
14-114-5200
UPID
US69-0584552
Cap rate & NOI
Priority signal for investors
Implied cap rate, NOI & suggested price
Cap rate vs submarket · NOI estimate · 3 price anchors
Implied cap rate, NOI & suggested price
Cap vs submarket · NOI estimate · 3 price anchors
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$510k
CAP Approach
CAP
$755k
Comparable Approach
Comparable
$484k
Blend (final)
Blend
$545k
Owner & transaction history
Frayer Enterprises LLC · 1 yrs held
Frayer Enterprises LLC
since 2025
Last sale
$600,000
3 recorded transactions
Zoning & alternative use
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Medical building
$385,000
+26.5%
Auto repair, garage
$370,000
+20.5%
Commercial (general)
$350,000
+14.6%
Cap rate
Implied · in-place · derived from last sale + estimated NOI
Implied Cap rate
#1
Implied · in-place · NOI ÷ last sale
In-place · derived from last sale + estimated NOI
Cap rate, NOI & submarket benchmark
Implied cap rate vs Oklahoma City submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Oklahoma City submarket · NOI estimate · typical band, median & reading
Refine your cap rate
8-question underwriting flow
1.
Property current status — Going-In vs Stabilized
2.
Price for denominator — asking / offer / market
3.
Leasing status & lease structure (NNN / Gross)
4.
Tenant risk profile & vacancy assumption
5.
Upload T12 / rent roll / OM (optional)
Refine in 60 seconds, get exact suggested price
T12 upload · Submarket benchmarks · Sensitivity grid
Suggested price · 3 cap rate anchors
Income approach @ 5% / 7% / 9% — aggressive / typical / conservative
Suggested price at 5% / 7% / 9% cap
Aggressive / typical / conservative · Implied $/SF per anchor · Sensitivity grid
Suggested price at 5% / 7% / 9% cap
Aggressive / typical / conservative · implied $/SF · sensitivity
Value
AI, CAP & Alternative Use estimations · Realmo proprietary blendValue Estimations
Based on Realmo’s proprietary methodology
AI Approach
Method
Estimation
Statistic approach
$545,000
ML approach
$510,000
CAP Approach
CAP Return
Estimation
6%
$815,000
6.5%
$755,000
7%
$700,000
Alternative Use
Use
Estimation
MEDICAL BUILDING
$385,000
Change: +26% · Conversion: Difficult
AUTO REPAIR, GARAGE
$370,000
Change: +20% · Conversion: Difficult
COMMERCIAL (GENERAL)
$350,000
Change: +15% · Conversion: Easy
Blend value · Realmo final
$545k
Range $491k – $600k · ±10% · vs last sale $600k (Jun 4 2021)
Last sale anchor
$600k
Jun 4 2021
Realmo estimate · informational only.
These numbers are calculated by our models from public records and may not reflect actual market value.
Not an appraisal.
Verify with a licensed appraiser before transacting. Realmo accepts no liability for divergence from real-world outcomes.
View the full estimation — every method, every assumption
Confidence drivers & risk notes · Custom comparable set · Free for first 3 / day
Full estimation methodology
Every method · every assumption · confidence drivers
Price per SF
Sale + rent benchmarks
Subject property
$220 / SF
Submarket sale & rent benchmarks
Median sale $/SF · Asking & closed rent · Submarket vacancy
Submarket sale & rent benchmarks
Median sale $/SF · asking & closed rent · submarket vacancy
Property tax & assessments
Tax year 2023Property tax & assessments
Tax year 2023
Tax billed
$6,761
Tax year 2023
Assessed value
$54,996
Assessed 2023
Previous assessed
$54,996
+0.0% YoY
Effective rate
12.29%
On assessed value
Assessed land
$15,717
Assessed improvement
$39,279
Land market value
$142,887
Improvement market value
$357,081
Total market value
$499,968
Applied tax rate
252.0000
Comparables
6 recent transactions · within 1.5 miComparable in this city
6 recent transactions
Comparable in this City
Similar Nearby for Sale
Recent comparable sales
Sale price & price/SF · Sale date & distance · Adjustments & confidence
Recent comparable sales
Sale price & $/SF · sale date & distance · adjustments
Property description
Physical attributes from public recordsBuilding & lot
Public records
Property type
Retail space
Use group
RETAIL STORES (PERSONAL SERVICES)
Status
For Sale
Year built
2000
Construction
STEEL FRAME
Heating
SPACE
Cooling
AC.PACKAGE
Stories
1
Units
1
Total area
2,480 SF
Lot
8.49 ac (369,824 SF)
APN
14-114-5200
UPID
US69-0584552
Jurisdiction
OKLAHOMA
Zoning & alternative use
Zoning · permitted uses
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Alternative use value scenarios
Repositioning upside vs current use
MEDICAL BUILDING
Est. value
$385,000
AUTO REPAIR, GARAGE
Est. value
$370,000
COMMERCIAL (GENERAL)
Est. value
$350,000
MEDICAL BUILDING
AUTO REPAIR, GARAGE
COMMERCIAL (GENERAL)
Alternative use deep dive — conversion cost, permits, timeline
Conversion cost estimate · Permit path & risks · Stabilized NOI per option
Alternative use deep dive
Conversion cost · permit path · stabilized NOI per option
Building & site characteristics
From public records
Year built
2000
Construction
STEEL FRAME
Heating
SPACE
Cooling
Yes
Stories
1
Units
1
Lot
8.49 ac
Current owner
From public records · entity-resolved
Frayer Enterprises LLC
Entity
Free & Clear · 1 yrs held
Mailing address
PO BOX 31284, EDMOND, OK 73003-0022
Ownership since
2025
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
3 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Jan 29, 2025
$1,800,000
Frayer Enterprises LLC
Green Spot Property LLC
Warranty Deed
—
Jun 4, 2021
$600,000
Green Spot Property LLC
Roy Dale Murphy
Warranty Deed
$607,769 · Legacy Bank
Jan 31, 2002
$125,000
Roy D Murphy
Murphy,roy D & Marilyn R
Grant Deed
related
$200,000 · Roy D & Murphy R Murphy
Coming soon
Costs & Benchmarks
Operating expenses, capex projections, utility benchmarks, and submarket comparables — all in one view.
Coming soon
Risks
Flood, climate, environmental, title, and tenant-concentration risk — surfaced with mitigations and source citations.
Try Rey
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“Is 15.6% cap rate sustainable?” · “Best tenant mix for BU1?” · “What’s the redev upside?”
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