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

    4229 Royal Ave Oklahoma City, OK 73108

    • Retail space
    • 18,473 SF
    • 3.36 lot acres
    For Lease
    View listing
    $8 SF/Yr
    Last Sale
    May 17, 2022
    $2,500,000
    Value Estimations
    $2,655,000
    Cap Rate Potential
    Location Intelligence
    Property ID
    US69-0533070
    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

    • RML - Patient Service Center / Medical Laboratory / Laboratory
    • Medi-Serv / Medical Supply Store
    • Studio V by Scott Vo Photography / Commercial Photographer / Film Production Company
    • Miracle Method Surface Refinishing / Floor Refinishing Service / Kitchen Remodeler
    • Don-Co Plumbing / Plumber

    Property Details for 4229 Royal Ave

    Year built
    1980
    Construction
    WOOD FRAME
    Lot size
    3.36 lot acres
    Property size
    18,473 SF
    Property type
    Retail space
    APN
    14-874-1100
    APU
    148741100

    Description

    This single-story, 4,882 square foot office building in Oklahoma City's Southwest submarket offers flexible space ideal for various businesses. Located at 4229 Royal Ave, this property boasts a convenient location, approximately half a mile south of I-40 and east of S Meridian Ave. The building features ample parking with 32 spaces available for tenants and employees. The entire 4,882 square feet is currently vacant and available for lease as a whole, offering a unique opportunity for a single tenant to occupy the entire space. Alternatively, the space is divisible, with a minimum leasable area of 1,206 square feet, allowing for multiple tenants. The flexible open floor plan provides adaptability to suit diverse business needs and layouts. The property consists of two suites within a single building, providing potential for expansion or separation of operations. The address is 4229 Royal Ave, Oklahoma City, OK 73108. This property presents a compelling opportunity for businesses seeking a well-located, adaptable office space in a thriving area of Oklahoma City.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      Statistic approach
      $2,445,000
      ML approach
      $2,500,000

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $3,288,000
      Market price range: $1.18M - $3.60M
      AI Estimate
      $2,087,000
      Market price range: $700k - $2.35M

    • Alternative Use

      Use
      Estimation
      RETAIL STORES
      $2,280,000
      Current use
      COMMERCIAL (GENERAL)
      $3,300,000
      Change: +45% Conversion: Easy
      MEDICAL BUILDING
      $2,885,000
      Change: +26% Conversion: Difficult
      AUTO REPAIR, GARAGE
      $2,745,000
      Change: +20% Conversion: Difficult
      OFFICE BUILDING
      $2,370,000
      Change: +4% Conversion: Easy
      NEIGHBORHOOD: SHOPPING CENTER
      $2,095,000
      Change: -8% Conversion: Moderate

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

    Location Insight

    • Map
    • Local Demand
    City
    Oklahoma City
    County
    Oklahoma
    State
    Oklahoma
    Longitude
    -97.5945
    Latitude
    35.4541
    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
    $22,802
    $14,436
    $172,606
    $187,042
    -
    $131,238
    $1,569,148
    $1,700,386

    Comparable in this City

    • Value Estimation
      $280,000
      2,448 SF

      2101 Pennsylvania Ave

      RETAIL STORES (PERSONAL SERVICES) • 2,448 SF
      2101 Pennsylvania Ave, Oklahoma City, OK 73108-7613
      View Details
    • Value Estimation
      $345,000
      6,000 SF

      2501 Agnew Ave

      RETAIL STORES (PERSONAL SERVICES) • 6,000 SF
      2501 Agnew Ave, Oklahoma City, OK 73108-6219
      View Details
    • Value Estimation
      $5,815,000
      31,497 SF

      4427 21st St

      RETAIL STORES (PERSONAL SERVICES) • 31,497 SF
      4427 21st St, Oklahoma City, OK 73108-1748
      View Details
    • Value Estimation
      $2,095,000
      33,464 SF

      4300 Charter Ave

      RETAIL STORES (PERSONAL SERVICES) • 33,464 SF
      4300 Charter Ave, Oklahoma City, OK 73108-1819
      View Details
    • Value Estimation
      $500,000
      6,350 SF

      2514 Agnew Ave

      RETAIL STORES (PERSONAL SERVICES) • 6,350 SF
      2514 Agnew Ave, Oklahoma City, OK 73108-6220
      View Details
    • Value Estimation
      $260,000
      4,025 SF

      2711 Blackwelder Ave

      RETAIL STORES (PERSONAL SERVICES) • 4,025 SF
      2711 Blackwelder Ave, Oklahoma City, OK 73108-8017
      View Details

    Similar Nearby for Sale

    • $395,000
      4,372 SF

      Retail Building For Sale/Lease

      4372 SF building available for sale or lease.
      1008 N Pennsylvania Ave, Oklahoma City, OK 73108
      View Details
    • $2,744,000
      6,344 SF

      Retail Property with Long-Term Tenant

      NNN leased retail property with strong local operator.
      1800 S Meridian Ave, Oklahoma City, OK 73108
      View Details
    • $850,000
      3,562 SF

      Restaurant Building - Oklahoma City

      Prime restaurant space, sale or lease. Excellent location.
      1920 S. Meridian Avenue, Oklahoma City, OK 73108
      View Details
    • $1,150,000
      7,989 SF

      Turnkey Restaurant with Large Parking

      Freestanding restaurant with vent hood, cooler, freezer, and parking.
      1201 S Meridian Ave, Oklahoma City, OK 73108
      View Details
    • $1,777,777

      Drive-Thru Restaurant Net Lease

      New construction restaurant with dual drive-thru and net lease.
      1400 NW 23Rd St, Oklahoma City, OK 73108
      View Details
    • $1,100,000
      12,243 SF

      12,243 SF on 1.37 Acres Fleet Maintenance Facility For Sale-2323 S. Walker Avenue (UNDER CONTRACT)

      12,243 SF on 1.37 Acres Fleet Maintenance Facility For Sale-2323 S. Walker Avenue (UNDER CONTRACT)
      2323 S. Walker Avenue, Oklahoma City, OK 73108
      View Details

    Similar Nearby for Lease

    • $15 SF/Yr
      4,000 SF

      Retail Space on May Avenue

      Retail space available with frontage and ample parking.
      6807-7013 N May Ave, Oklahoma City, OK 73108
      View Details
    • $4,450 /Mo
      4,800 SF

      Retail Space on Meridian Avenue

      Retail space with high visibility and signage opportunities available for lease.
      2410 N Meridian Ave, Oklahoma City, OK 73108
      View Details
    • $3,750 /Mo
      3,000 SF

      Retail Space on Corner Location

      Freestanding retail building with high visibility in Oklahoma City.
      2500 NW 23Rd St, Oklahoma City, OK 73108
      View Details
    • $16 SF/Yr
      3,588 SF

      Oklahoma City Retail Space Available

      3,588 SF retail space in high-traffic Oklahoma City area.
      7926 N May Ave, Oklahoma City, OK 73108
      View Details
    • $18 SF/Yr
      3,562 SF

      Oklahoma City Restaurant - Sale/Lease

      Prime restaurant space, 3,562 SF, 0.77 acres, I-2 zoning.
      1920 S. Meridian Avenue, Oklahoma City, OK 73108
      View Details
    • $1,070,000
      11,540 SF

      Stockyards Auto/Truck Repair Facility

      Prime auto/truck repair facility in the Historic Stockyards.
      2100-2120 Exchange Ave, Oklahoma City, OK 73108
      View Details
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    4229 Royal Ave
    Oklahoma City, OK 73108
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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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