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

    4631 3rd St Oklahoma City, OK 73127-6400

    • Warehouses
    • 18,600 SF
    • 1.04 lot acres
    OFF-MARKET
    Last Sale
    Apr 27, 2022
    $1,675,000
    Value Estimations
    $1,665,000
    Show details
    Cap Rate Potential
    9%
    Warehouses
    Location Intelligence
    Property ID
    US69-0203310
    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

    • PRATT INDUSTRIES WHSE / Warehouse & Storage

    Property Details for 4631 3rd St

    Year built
    1983
    Construction
    TILT-UP CONCRETE
    Lot size
    1.04 lot acres
    Property size
    18,600 SF
    Property type
    Warehouses
    APN
    14-909-1000
    APU
    149091000

    Description

    This exceptional 18,575-square-foot industrial flex space, located at 4631-4639 N.W. 3rd Street in Oklahoma County, presents a unique leasing opportunity. The single-story, Class C building, constructed in 1983, sits on 1.03 acres and is zoned I-2. The property is currently available for multiple tenants, with a minimum leasable space of 6,000 square feet and a maximum contiguous space of 6,000 square feet. One example of a divisible suite (Suite 4633) offers 6,000 square feet, including 5,400 square feet of warehouse space and 600 square feet of office space. This specific suite features a reception area, two restrooms, one large private office, and a mezzanine. The warehouse boasts LED lighting, two 12' x 14' overhead doors, and a 20' clear ceiling height. The property also benefits from heavy power, making it ideal for a variety of industrial and flex uses. This is an excellent opportunity to secure flexible industrial space in a convenient Oklahoma City location. The property's size and layout offer adaptability for various business needs, making it a highly desirable option for companies seeking efficient and functional workspace. Inquire today to learn more about leasing options and explore the potential of this versatile property.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      Statistic approach
      $1,640,000
      ML approach
      $1,665,000

    • CAP approach

      CAP Return
      Estimation
      6%
      $2,455,000
      6.5%
      $2,265,000
      7%
      $2,105,000

    • Alternative Use

      Use
      Estimation
      WAREHOUSE, STORAGE
      $1,900,000
      Current use
      AUTO REPAIR, GARAGE
      $2,765,000
      Change: +46% Conversion: Easy
      OFFICE BUILDING
      $2,385,000
      Change: +26% Conversion: Difficult
      RETAIL STORES
      $2,295,000
      Change: +21% Conversion: Moderate
      NEIGHBORHOOD: SHOPPING CENTER
      $2,110,000
      Change: +11% Conversion: Moderate

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

    Location Insight

    • Map
    • Local Demand
    City
    Oklahoma City
    County
    Oklahoma
    State
    Oklahoma
    Longitude
    -97.6052
    Latitude
    35.471
    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
    $15,677
    $14,876
    $113,715
    $128,591
    -
    $135,237
    $1,033,773
    $1,169,010

    Comparable in this City

    • Value Estimation
      $3,965,000
      68,284 SF

      4601 3rd St

      WAREHOUSE, STORAGE • 68,284 SF
      4601 3rd St, Oklahoma City, OK 73127-6400
      View Details
    • Value Estimation
      $5,020,000
      96,654 SF

      5000 4th St

      WAREHOUSE, STORAGE • 96,654 SF
      5000 4th St, Oklahoma City, OK 73127-6336
      View Details
    • Value Estimation
      $1,295,000
      18,306 SF

      5229 5th St

      WAREHOUSE, STORAGE • 18,306 SF
      5229 5th St, Oklahoma City, OK 73127-5802
      View Details
    • Value Estimation
      $3,205,000
      51,426 SF

      2425 Macarthur Blvd

      MINI-WAREHOUSE, STORAGE • 51,426 SF
      2425 Macarthur Blvd, Oklahoma City, OK 73127-1605
      View Details
    • Value Estimation
      $7,640,000
      119,820 SF

      29 Mccormick St

      WAREHOUSE, STORAGE • 119,820 SF
      29 Mccormick St, Oklahoma City, OK 73127-6620
      View Details
    • Value Estimation
      $2,500,000
      32,500 SF

      4732 1st St

      WAREHOUSE, STORAGE • 32,500 SF
      4732 1st St, Oklahoma City, OK 73127-6409
      View Details

    Similar Nearby for Sale

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      Oklahoma City Warehouse - $5.49M

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    • $850,000
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      Renovated Industrial Building in Oklahoma

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    • Contact for pricing
      36,590 SF

      Industrial Property with Fenced Storage

      Industrial property featuring fenced storage yard and convenient location.
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    • $650,000
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      Two Warehouses on Large Lot

      Two warehouses on 1.04 acres with fenced yard.
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    • $1,000,000
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    • $2,275,000
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      20,000 SF Warehouse, High Traffic Location
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      View Details

    Similar Nearby for Lease

    • Contact for pricing
      280,000 SF

      Oklahoma City Warehouse Space Available

      280,000 square foot warehouse space for lease in Oklahoma City.
      10333 West Reno Ave, Oklahoma City, OK 73127
      View Details
    • $11 SF/Yr
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      Highway Accessible Warehouse Space

      Newly constructed warehouse space with office and highway access.
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      View Details
    • $7 SF/Yr
      16,140 SF

      Oklahoma City Industrial Space

      16,140 SF Manufacturing/Warehouse
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    • Contact for pricing
      8,659 SF

      Office and Warehouse Space Available

      Office and warehouse space featuring 15 offices and a breakroom.
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    • $11 SF/Yr
      1,984 SF

      New Warehouse Space Available

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    • $649,000
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      Oklahoma City Industrial Property

      Industrial property in prime Oklahoma City location for lease.
      500 Beacon Dr, Oklahoma City, OK 73127
      View Details
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    4631 3rd St
    Oklahoma City, OK 73127-6400
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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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