Sign Up Successful!
You now have access to more from Realmo!
Property Lookup
    Property Lookup
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    Back to Search
    The Largest CRE Database in the US with Over 1 Million Listings
    Property profile & analytics

    3401 23rd St Oklahoma City, OK 73107-1803

    • Commercial real estate
    • 2,118 SF
    • 0.14 lot acres
    OFF-MARKET
    Last Sale
    Jun 23, 2021
    $550,000
    Value Estimations
    $525,000
    Show details
    Cap Rate Potential
    5.5%
    Commercial real estate
    Location Intelligence
    Property ID
    US69-0301972
    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

    • Jack Onofrio Dog Shows / Association / Organization
    • The Greens Dispensary of Oklahoma City / (Bike/Boat/Book/etc) Store

    Property Details for 3401 23rd St

    Year built
    1940
    Construction
    FRAME
    Lot size
    0.14 lot acres
    Property size
    2,118 SF
    Property type
    Commercial real estate
    APN
    06-798-9000
    APU
    67989000

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      Statistic approach
      $535,000
      ML approach
      $520,000

    • CAP approach

      CAP Return
      Estimation
      6%
      $485,000
      6.5%
      $450,000
      7%
      $420,000

    • Comparable approach

      Method
      Estimation
      AI Estimate
      $485,000
      Market price range: $160k - $485k

    • Alternative Use

      Use
      Estimation
      MEDICAL BUILDING
      $330,000

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

    Location Insight

    • Map
    • Local Demand
    City
    Oklahoma City
    County
    Oklahoma
    State
    Oklahoma
    Longitude
    -97.5769
    Latitude
    35.4935
    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
    $7,430
    $4,397
    $56,102
    $60,499
    -
    $39,975
    $510,017
    $549,992

    Comparable in this City

    • Value Estimation by Request
      0.20 Acres

      2827 Lindley Ave

      COMMERCIAL (GENERAL) • 0.20 Acres
      2827 Lindley Ave, Oklahoma City, OK 73107-6815
      View Details
    • Value Estimation by Request
      3,288 SF

      2629 10th St

      COMMERCIAL (GENERAL) • 3,288 SF
      2629 10th St, Oklahoma City, OK 73107-5407
      View Details
    • Value Estimation by Request
      1,269 SF

      1700 May Ave

      COMMERCIAL (GENERAL) • 1,269 SF
      1700 May Ave, Oklahoma City, OK 73107-3951
      View Details
    • Value Estimation by Request
      1,635 SF

      1621 Independence Ave

      COMMERCIAL (GENERAL) • 1,635 SF
      1621 Independence Ave, Oklahoma City, OK 73107-4642
      View Details
    • Value Estimation
      $6,590,000
      70,928 SF

      3232 Reno Ave

      COMMERCIAL (GENERAL) • 70,928 SF
      3232 Reno Ave, Oklahoma City, OK 73107-6130
      View Details
    • Value Estimation by Request
      1,820 SF

      3318 23rd St

      COMMERCIAL (GENERAL) • 1,820 SF
      3318 23rd St, Oklahoma City, OK 73107-1802
      View Details

    Similar Nearby for Sale

    • $3,800,000
      23,810 SF

      Climate-Controlled Warehouse/Showroom in Oklahoma City

      23,810 SF climate-controlled warehouse/showroom on 1.4 acres.
      2701 W California Ave, Oklahoma City, OK 73107
      View Details
    • Contact for pricing

      Prime Land in North OKC

      22 acres with high visibility and easy highway access.
      Portland Ave, Oklahoma City, OK 73107
      View Details
    • $60,000
      Pending

      Unrestricted 5-Acre Land Parcel

      5 acres of unrestricted land near Route 66 and I-44.
      20500 NE 234Th St, Luther, OK 73107
      View Details
    • $107,500
      Pending

      Oklahoma City Land For Sale

      Land zoned for multi-family use, prime location for duplex construction.
      2319 N Barnes Ave, Oklahoma City, OK 73107
      View Details
    • $35,000
      0.17 Acres

      Residential Land in Oklahoma City

      Residential land available in an up-and-coming Oklahoma City area.
      119 N Tuttle St, Oklahoma City, OK 73107
      View Details
    • $255,000
      1,374 SF

      Oklahoma City Duplex Investment Property

      Duplex in NW Oklahoma City, leased until 2026.
      2426 NW 11Th St, Oklahoma City, OK 73107
      View Details

    Similar Nearby for Lease

    • $12 SF/Yr
      81,600 SF

      Century Business Park: OKC Warehouses

      Oklahoma City industrial space for lease.
      2236 10Th St, Oklahoma City, OK 73107
      View Details
    • $12 SF/Yr
      13,080 SF

      Warehouse Near Will Rogers Airport

      10,200 SF warehouse with easy highway and airport access.
      333 N Portland Ave, Oklahoma City, OK 73107
      View Details
    • Contact for pricing
      38,615 SF

      Prime Retail Space Near Fairgrounds

      High-visibility retail space near I-40 and I-44 intersection.
      101 N Portland Ave, Oklahoma City, OK 73107
      View Details
    • $14 SF/Yr
      8,800 SF

      Reno & Meridian Flex Space

      New Construction Flex/Warehouse Space in OKC
      4401 Reno Ave, Oklahoma City, OK 73107
      View Details
    • Contact for pricing

      Land for Ground Lease

      Ground lease opportunity on S. Meridian near I-40.
      1223 S Meridian Ave, Oklahoma City, OK 73107
      View Details
    • $7 SF/Yr
      24,579 SF

      Meridian Office Complex, OKC

      Prime OKC office space, flexible leases.
      500 Meridian Ave, Oklahoma City, OK 73107
      View Details
    Request Owner's contact information
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    3401 23rd St
    Oklahoma City, OK 73107-1803
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    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
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    Google sign-in failed. Please try again or use another login method.