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Property profile & analytics
OFF-MARKET
Estimated value
$775,000
Commercial real estate
405 2nd Ave Owasso, OK 74055
Entity Owned
3-yr Hold
Free & Clear
Property ID
US69-1154217
Property profile
Verified
Property type
Commercial real estate
Use group
COMMERCIAL (GENERAL)
Year built
2003
Construction
STEEL FRAME
Total area
6,000 SF
Lot
4.86 ac (211,876 SF)
Zoning code
AG
APN
91430-14-30-59360
UPID
US69-1154217
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
Current use
Occupant on record · Public records
-
Redbud Event Center Hotel & Motel Resort
-
Tower Loans Loan Service
-
76 Storage Center Storage Facility
-
Owasso Sertoma Club Sports School
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$775k
CAP Approach
CAP
$840k
Comparable Approach
Comparable
$832k
Blend (final)
Blend
$775k
Owner & transaction history
Jeem Properties LLC · 3 yrs held
Jeem Properties LLC
since 2022
Last sale
$775,000
1 recorded transaction
Zoning & alternative use
AG · Owasso, OK
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Medical building
$1.1M
+20.5%
Auto repair, garage
$1.1M
+14.4%
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 Owasso submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Owasso 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
$775,000
ML approach
$775,000
CAP Approach
CAP Return
Estimation
6%
$910,000
6.5%
$840,000
7%
$780,000
Alternative Use
Use
Estimation
COMMERCIAL (GENERAL)
$920,000
Current use
MEDICAL BUILDING
$1,110,000
Change: +20% · Conversion: Easy
AUTO REPAIR, GARAGE
$1,050,000
Change: +14% · Conversion: Difficult
Blend value · Realmo final
$775k
Range $698k – $853k · ±10% · vs last sale $775k (Nov 6 2024)
Last sale anchor
$775k
Nov 6 2024
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
$129 / 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
$4,808
Tax year 2023
Assessed value
$44,000
Assessed 2023
Previous assessed
$35,123
+25.3% YoY
Effective rate
10.93%
On assessed value
Assessed land
$6,424
Assessed improvement
$37,576
Land market value
$58,400
Improvement market value
$341,600
Total market value
$400,000
Comparables
6 recent transactions · within 1.5 miComparable in this city
6 recent transactions
Comparable in this City
Similar Nearby for Sale
Similar Nearby for Lease
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
Commercial real estate
Use group
COMMERCIAL (GENERAL)
Status
Off-Market
Year built
2003
Construction
STEEL FRAME
Heating
CENTRAL
Cooling
CENTRAL
Stories
1
Total area
6,000 SF
Lot
4.86 ac (211,876 SF)
Zoning code
AG
APN
91430-14-30-59360
UPID
US69-1154217
Jurisdiction
TULSA
Zoning & alternative use
AG · Owasso, OK
Zoning AG · permitted uses
AG · Owasso, OK
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Owasso. Always verify with local authorities before improvements.
Alternative use value scenarios
Repositioning upside vs current use
COMMERCIAL (GENERAL) Current
Est. value
$920,000
MEDICAL BUILDING
Est. value
$1.1M
AUTO REPAIR, GARAGE
Est. value
$1.1M
COMMERCIAL (GENERAL) Current
MEDICAL BUILDING
AUTO REPAIR, GARAGE
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
2003
Construction
STEEL FRAME
Heating
CENTRAL
Cooling
Yes
Stories
1
Lot
4.86 ac
Current owner
From public records · entity-resolved
Jeem Properties LLC
Entity
Free & Clear · 3 yrs held
Mailing address
16303 E 96TH ST N, OWASSO, OK 74055-8316
Ownership since
2022
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
1 recorded event · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Aug 24, 2022
$400,000
Jeem Properties LLC
Sertoma Club Of Owasso
Warranty Deed
—
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.
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