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    3700 West Reno Ave Oklahoma City, OK 73107
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    3700 West Reno Ave, Oklahoma City, OK 73107

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    • Warehouses
    • 56,262 SF
    • 10.88 lot acres
    For Lease
    $1,735,000
    View Listing →
    Prime Commercial Land in Oklahoma For Lease
    $1,735,000

    Prime Commercial Land in Oklahoma

    4.76-acre site in a thriving retail district.

    3700 West Reno Avenue, Oklahoma City, OK 73107
    View Listing
    Property ID
    US69-0583032
    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

    • Warehouses

    Property Details for 3700 West Reno Ave

    Year built
    1975
    Construction
    MASONRY/CONCRETE MASONRY UNITS (CMUS)
    Lot size
    10.88 lot acres
    Property type
    Warehouses
    APN
    14-197-1065
    APU
    141971065

    Sales History

    Date Price Buyer Seller Deed Type Mortgage
    Dec 16, 2024 $2,200,000 Waste Management Of Oklahoma INC L & B Development LLC Special Warranty Deed —
    Sep 18, 2019 — L & B Dev LLC — Deed · related —
    Sep 18, 2017 — L & B Dev LLC — Loan Modification · related $70.7M · Bank Of Ok
    — — L & B Dev LLC — Loan Modification · related $40M · Bank Of Oklahoma
    — — L & B Dev LLC — Loan Modification · related —

    Value Estimations

    based on Realmo’s proprietary methodology

    • Comparable approach

      Method
      Estimation
      AI Estimate
      $1,771,000
      Market price range: $811k - $1.77M

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

    Location Insight

    • Map
    • Local Demand
    City
    Oklahoma City
    County
    Oklahoma
    State
    Oklahoma
    Longitude
    -97.5849
    Latitude
    35.4632
    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
    $68,930
    $143,404
    $422,013
    $565,417
    -
    $1,303,673
    $3,836,489
    $5,140,162

    Comparable in this City

    • Value Estimation
      $1,665,000
      30,704 SF

      3600 Reno Ave

      WAREHOUSE, STORAGE
      3600 Reno Ave, Oklahoma City, OK 73107-6138
      View Details
    • Value Estimation
      $2,605,000
      121,654 SF

      3810 3rd St

      WAREHOUSE, STORAGE
      3810 3rd St, Oklahoma City, OK 73107
      View Details
    • Value Estimation
      $2,910,000
      53,156 SF

      10 Meridian Ave

      WAREHOUSE, STORAGE
      10 Meridian Ave, Oklahoma City, OK 73107
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    • Value Estimation
      $2,625,000
      16,958 SF

      5 Pennsylvania Ave

      WAREHOUSE, STORAGE
      5 Pennsylvania Ave, Oklahoma City, OK 73107-7019
      View Details
    • Value Estimation
      $1,720,000
      25,439 SF

      4015 Reno Ave

      WAREHOUSE, STORAGE
      4015 Reno Ave, Oklahoma City, OK 73107-6615
      View Details
    • Value Estimation
      $1,050,000
      40,040 SF

      3636 Reno Ave

      WAREHOUSE, STORAGE
      3636 Reno Ave, Oklahoma City, OK 73107-6138
      View Details

    Similar Nearby for Sale

    • $1,390,000
      8,080 SF

      Class A Retail/Warehouse Space

      New construction retail/warehouse with Reno Avenue frontage and ample parking.
      4415 W Reno Ave, Oklahoma City, OK 73107
      View Details
    • Contact for pricing
      8,080 SF

      New Construction Retail/Warehouse Building

      New construction 8,080 SF building ready for buildout.
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    • $3,500,000
      23,810 SF

      Versatile Commercial Building For Sale

      23,810 SF building with showroom, office, and warehouse space.
      2701 West California Ave, Oklahoma City, OK 73107
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      Oklahoma City Industrial Facility

      25,080 SF industrial facility with office space and storage yard.
      2119 General Pershing Blvd, Oklahoma City, OK 73107
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      9,467 SF

      Industrial-Manufacturing Property For Sale

      9,467 SF industrial-manufacturing property, prime investment opportunity.
      3841-3845 NW 10Th St, Oklahoma City, OK 73107
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    • Contact for pricing
      9,784 SF

      Value-Add Retail Investment Opportunity

      Multi-tenant retail building near Oklahoma State Fair Park.
      2822 NW 10Th St, Oklahoma City, OK 73107
      View Details

    Similar Nearby for Lease

    • $12 SF/Yr

      Climate-Controlled Warehouse Space Available

      Climate-controlled warehouse space for rent in Oklahoma City.
      520 N Meridian Ave, Oklahoma City, OK 73107
      View Details
    • Contact for pricing
      5,000 SF

      Functional Light Industrial Building

      5,000 SF light industrial building with yard space.
      3716 NW 8Th St, Oklahoma City, OK 73107
      View Details
    • Contact for pricing
      2,400 SF

      Office/Warehouse Facility Near Downtown OKC

      Office/warehouse facility with easy access to major interstates.
      2236 NW 10Th St, Oklahoma City, OK 73107
      View Details
    • Contact for pricing

      Oklahoma City Industrial Properties

      Two industrial properties with flexible leasing options in Oklahoma City.
      325 N Portland Ave, Oklahoma City, OK 73107
      View Details
    • Contact for pricing
      10,200 SF

      Warehouse Near I-40 and I-44

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

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