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

    401 2nd St Owasso, OK 74055-2927

    • Office buildings
    • 5,187 SF
    • 2.55 lot acres
    OFF-MARKET
    Value Estimations
    $545,000
    Show details
    Cap Rate Potential
    Location Intelligence
    Property ID
    US69-0949240
    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

    • Office buildings

    Property Details for 401 2nd St

    Year built
    1982
    Construction
    WOOD FRAME
    Lot size
    2.55 lot acres
    Property size
    5,187 SF
    Zone code
    IL
    Property type
    Office buildings
    APN
    61017-14-30-31543
    APU
    61017143031543

    Value Estimations

    based on Realmo’s proprietary methodology

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $550,000
      Market price range: $376k - $882k
      AI Estimate
      $335,000
      Market price range: $236k - $517k

    • Alternative Use

      Use
      Estimation
      OFFICE BUILDING
      $605,000
      Current use
      COMMERCIAL (GENERAL)
      $795,000
      Change: +32% Conversion: Easy
      RETAIL STORES
      $565,000
      Change: -6% Conversion: Moderate

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

    Location Insight

    • Map
    • Local Demand
    City
    Owasso
    County
    Tulsa
    State
    Oklahoma
    Longitude
    -95.8594
    Latitude
    36.2648
    CBSA code
    46140
    CBSA name
    TULSA, 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
    $6,545
    $16,368
    $43,527
    $59,895
    -
    $148,800
    $395,700
    $544,500

    Comparable in this City

    • Value Estimation by Request
      3,200 SF

      14501 89th N St

      OFFICE BUILDING • 3,200 SF
      14501 89th N St, Owasso, OK 74055-2583
      View Details
    • Value Estimation
      $940,000
      7,818 SF

      8283 Owasso Expy Ste H

      OFFICE BUILDING • 7,818 SF
      8283 Owasso Expy Ste H, Owasso, OK 74055-3600
      View Details
    • Value Estimation
      $520,000
      5,016 SF

      13506 116th N St

      OFFICE BUILDING • 5,016 SF
      13506 116th N St, Owasso, OK 74055-7432
      View Details
    • Value Estimation
      $610,000
      6,304 SF

      12702 86th N St

      OFFICE BUILDING • 6,304 SF
      12702 86th N St, Owasso, OK 74055-2548
      View Details
    • Value Estimation
      $730,000
      5,390 SF

      6901 115th E Ave

      OFFICE BUILDING • 5,390 SF
      6901 115th E Ave, Owasso, OK 74055-3639
      View Details
    • Value Estimation
      $1,050,000
      10,762 SF

      10310 138th E Ave

      OFFICE BUILDING • 10,762 SF
      10310 138th E Ave, Owasso, OK 74055-4604
      View Details

    Similar Nearby for Sale

    • Contact for pricing
      11,989 SF

      Owasso Office Building For Sale

      Office building with 11,989 square feet of space.
      13616 E 103Rd St, Owasso, OK 74055
      View Details
    • $1,040,000
      0.07 Acres

      Move-In Ready Commercial Building

      Commercial property with high visibility and expansion potential.
      17983 E 116Th St N, Owasso, OK 74055
      View Details
    • $2,975,000
      27,755 SF

      Owasso Business Park For Sale

      Owasso Business Park For Sale
      7708 - 7762 North Owasso Expressway, Owasso, OK 74055
      View Details
    • Contact for pricing

      Owasso Executive Office Land Lease

      ±2.89 Acres, Highway 169 Frontage, Build-to-Suit
      7801 Owasso Expy, Owasso, OK 74055
      View Details
    • Contact for pricing
      13.56 Acres

      Owasso Commercial Land - Hwy 169

      ±13.56 Acres, High-Traffic Location
      169 & 129th Hwy, Owasso, OK 74055
      View Details
    • Contact for pricing

      Land Available in Owasso, OK

      Land for sale at 11599 East 96th Street North, Owasso, OK.
      11599 East 96Th St North, Owasso, OK 74055
      View Details

    Similar Nearby for Lease

    • Contact for pricing
      9,646 SF

      Owasso Retail Space Available

      Prime Owasso retail space, multiple suites available.
      0 N &, Owasso, OK 74055
      View Details
    • Contact for pricing
      6,331 SF

      Prime Retail Space in Owasso

      Retail spaces available in a high-traffic regional power center.
      9002 N 121 Ave E, Owasso, OK 74055
      View Details
    • $17 SF/Yr
      26,000 SF

      New Construction Flex/Industrial Space

      New construction flex/industrial space with highway visibility, completion Spring 2023.
      7102 N Owasso Expy, Owasso, OK 74055
      View Details
    • Contact for pricing
      1,471 SF

      Retail Space in Owasso, OK

      Retail space available for lease in Owasso, Oklahoma.
      401-435 E 2Nd Ave, Owasso, OK 74055
      View Details
    • Contact for pricing
      1,679 SF

      Retail Space in Owasso, OK

      Retail space available for lease in Owasso, Oklahoma.
      102 S Main St, Owasso, OK 74055
      View Details
    • Contact for pricing

      Corner Land for Lease

      Land available on corner lot near major retailers.
      11499 N 135Th East Ave, Owasso, OK 74055
      View Details
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    401 2nd St
    Owasso, OK 74055-2927
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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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