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

    502 Owen K Garriott Rd Enid, OK 73701-5523

    • Medical offices
    • 4,477 SF
    • 0.34 lot acres
    OFF-MARKET
    Last Sale
    Apr 19, 2022
    Value Estimations
    $340,000
    Show details
    Cap Rate Potential
    Location Intelligence
    Property ID
    US69-0925540
    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

    • Stotts Heath D OD / Optometrist
    • Vision Source / Optometrist
    • Stotts Eyecare / Optometrist

    Property Details for 502 Owen K Garriott Rd

    Year built
    1977
    Lot size
    0.34 lot acres
    Property size
    4,477 SF
    Property type
    Medical offices
    Property subtype
    Medical centers
    APN
    5010-00-016-007-0-131-00
    APU
    501000016007013100

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      ML approach
      $325,000

    • Comparable approach

      Method
      Estimation
      AI Estimate
      $355,000
      Market price range: $273k - $508k

    • Alternative Use

      Use
      Estimation
      MEDICAL BUILDING
      $405,000
      Current use
      RETAIL STORES
      $395,000
      Change: -2% Conversion: Difficult
      AUTO REPAIR, GARAGE
      $365,000
      Change: -10% Conversion: Difficult

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

    Location Insight

    • Map
    • Local Demand
    City
    Enid
    County
    Garfield
    State
    Oklahoma
    Longitude
    -97.8844
    Latitude
    36.3911
    CBSA code
    21420
    CBSA name
    ENID, OK MICROPOLITAN 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
    $4,918
    $6,891
    $39,708
    $46,599
    -
    $55,130
    $321,424
    $376,554

    Comparable in this City

    • Value Estimation
      $295,000
      3,551 SF

      913 Pne Ave

      MEDICAL BUILDING • 3,551 SF
      913 Pne Ave, Enid, OK 73701
      View Details
    • Value Estimation
      $445,000
      5,488 SF

      401 Oklahoma Ave

      MEDICAL BUILDING • 5,488 SF
      401 Oklahoma Ave, Enid, OK 73701-5800
      View Details
    • Value Estimation by Request
      2,560 SF

      1120 Owen K Garriott Rd

      MEDICAL BUILDING • 2,560 SF
      1120 Owen K Garriott Rd, Enid, OK 73701-6136
      View Details
    • Value Estimation by Request
      2,516 SF

      1106 Broadway Ave

      MEDICAL BUILDING • 2,516 SF
      1106 Broadway Ave, Enid, OK 73701-4411
      View Details
    • Value Estimation
      $345,000
      8,344 SF

      310 Owen K Garriott Rd

      MEDICAL BUILDING • 8,344 SF
      310 Owen K Garriott Rd, Enid, OK 73701-5712
      View Details
    • Value Estimation
      $365,000
      11,997 SF

      310 5th St

      MEDICAL BUILDING • 11,997 SF
      310 5th St, Enid, OK 73701
      View Details

    Similar Nearby for Sale

    • $1,100,000
      3,556 SF

      Built-out Medical Clinc

      601 W. Owen K. Garriott Rd. - Enid, OK
      601 W Owen K Garriott Rd, Enid, OK 73701
      View Details
    • $139,000
      3,077 SF

      Historic Commercial Building in Enid

      Two-story, 3,077 SF commercial building in downtown Enid, Oklahoma.
      216 W Randolph Ave, Enid, OK 73701
      View Details
    • $319,000
      2,958 SF

      Former Farmers Insurance office

      220 W. Broadway AVe. - Enid, OK
      220 W Broadway Ave, Enid, OK 73701
      View Details
    • $249,900

      Versatile Commercial Space in Enid

      Adaptable commercial property suitable for office or retail use.
      913 W Maple Ave, Enid, OK 73701
      View Details
    • $289,900

      Enid Office Building - Great Location

      Prime Enid Office Space, Ample Parking
      913 Maple Ave, Enid, OK 73701
      View Details
    • $825,000
      19,520 SF

      111 Elm St, Enid, OK 73701

      Investment properties • 19,520 SF
      111 Elm St, Enid, OK 73701
      View Details

    Similar Nearby for Lease

    • $18 SF/Yr
      42,736 SF

      Enid Medical Office Building For Sale

      Prime medical office space, Enid, OK. Multiple suites available.
      915 Owen K Garriott Rd, Enid, OK 73701
      View Details
    • $12 SF/Yr
      50,000 SF

      Sears Building: Enid Office Space

      Historic Enid office, retail & flex space
      116 Randolph Ave, Enid, OK 73701
      View Details
    • $750 /Mo
      750 SF

      Enid Office Space For Rent

      Office space available for lease in Enid, Oklahoma.
      670 W Willow Rd, Enid, OK 73701
      View Details
    • $6 SF/Yr
      3,750 SF

      215 E Randolph Ave, Enid, OK

      3,750 sq ft retail space in downtown Enid, Oklahoma.
      215 E Randolph Ave, Enid, OK 73701
      View Details
    • Contact for pricing
      7,125 SF

      Downtown Restaurant Space Available

      Historic downtown Enid restaurant space for lease.
      221 W Randolph Ave, Enid, OK 73701
      View Details
    • Contact for pricing

      Enid Industrial Park Land Available

      398-acre industrial park with BNSF Railway access near Enid, OK.
      N 66Th St, Enid, OK 73701
      View Details
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    Enid, OK 73701-5523
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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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