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    Property profile & analytics

    47 23rd St Oklahoma City, OK 73105-3001

    • Retail space
    • 6,420 SF
    • 0.69 lot acres
    OFF-MARKET
    Last Sale
    Nov 01, 2022
    $655,000
    Value Estimations
    $655,000
    Show details
    Cap Rate Potential
    Location Intelligence
    Property ID
    US69-0494654
    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

    • Ocean Dental: Euna Chang / Dental Office
    • Ocean Dental / Dental Office
    • Megann Scott / Dental Office
    • Diana Thien / Dental Office
    • Dr. Courtney Barrett / Dental Office

    Property Details for 47 23rd St

    Year built
    1948
    Construction
    MASONRY/CONCRETE MASONRY UNITS (CMUS)
    Lot size
    0.69 lot acres
    Property size
    6,420 SF
    Property type
    Retail space
    APN
    03-565-6080
    APU
    35656080

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      Statistic approach
      $640,000
      ML approach
      $660,000

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $868,000
      Market price range: $411k - $1.25M
      AI Estimate
      $545,000
      Market price range: $247k - $763k

    • Alternative Use

      Use
      Estimation
      RETAIL STORES
      $790,000
      Current use
      MEDICAL BUILDING
      $1,000,000
      Change: +26% Conversion: Difficult
      AUTO REPAIR, GARAGE
      $955,000
      Change: +20% Conversion: Difficult
      OFFICE BUILDING
      $825,000
      Change: +4% Conversion: Easy
      NEIGHBORHOOD: SHOPPING CENTER
      $730,000
      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
    -97.5102
    Latitude
    35.4936
    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
    $8,609
    $5,885
    $64,213
    $70,098
    -
    $53,500
    $583,760
    $637,260

    Comparable in this City

    • Value Estimation
      $920,000
      5,300 SF

      1 36th St

      RETAIL STORES (PERSONAL SERVICES) • 5,300 SF
      1 36th St, Oklahoma City, OK 73105-2501
      View Details
    • Value Estimation by Request
      9,000 SF

      201 38th Ter

      RETAIL STORES (PERSONAL SERVICES) • 9,000 SF
      201 38th Ter, Oklahoma City, OK 73105-3757
      View Details
    • Value Estimation by Request
      6,000 SF

      45 50th St

      RETAIL STORES (PERSONAL SERVICES) • 6,000 SF
      45 50th St, Oklahoma City, OK 73105-1807
      View Details
    • Value Estimation
      $540,000
      9,060 SF

      44 51st St

      RETAIL STORES (PERSONAL SERVICES) • 9,060 SF
      44 51st St, Oklahoma City, OK 73105-1897
      View Details
    • Value Estimation
      $1,185,000
      26,180 SF

      120 Hl St

      RETAIL STORES (PERSONAL SERVICES) • 26,180 SF
      120 Hl St, Oklahoma City, OK 73105-2614
      View Details
    • Value Estimation
      $1,800,000
      3,267 SF

      931 36th St

      RETAIL STORES (PERSONAL SERVICES) • 3,267 SF
      931 36th St, Oklahoma City, OK 73105-7245
      View Details

    Similar Nearby for Sale

    • Contact for pricing

      Commercially Zoned Mixed-Use Property

      Mixed-use property near Lincoln Blvd, suitable for various businesses.
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      Oklahoma City NNN Investment Opportunity

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      Oklahoma City Multifamily Investment Opportunity

      Partially renovated duplex with potential for customization in Oklahoma City.
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    Similar Nearby for Lease

    • Contact for pricing
      1,500 SF

      Industrial Space Available For Rent

      1500 square feet industrial space for rent in Oklahoma City.
      401 W Wilshire Blvd, Oklahoma City, OK 73105
      View Details
    • $7 SF/Yr
      23,700 SF

      Climate Controlled Warehouse with Office

      17,405 SF climate-controlled warehouse with 6,295 SF office space.
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      View Details
    • $12 SF/Yr
      2,790 SF

      Freestanding Office Building on Lincoln

      Professional office space with frontage on Lincoln Blvd in Oklahoma City.
      4900 N Lincoln Blvd, Oklahoma City, OK 73105
      View Details
    • Contact for pricing
      18,068 SF

      Warehouse Space Available For Rent

      Industrial warehouse space featuring dock doors and high ceilings.
      28 NE 42Nd St, Oklahoma City, OK 73105
      View Details
    • $7 SF/Yr
      33,970 SF

      New Industrial Warehouse Space Available

      Newly built warehouse with excellent location and strategic distribution radius.
      200 NE 34Th St, Oklahoma City, OK 73105
      View Details
    • $9 SF/Yr

      Commercial Space with Grade Level Doors

      Commercial space available for rent featuring grade level doors.
      133 NE 52Nd St, Oklahoma City, OK 73105
      View Details
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    47 23rd St
    Oklahoma City, OK 73105-3001
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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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