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    Property profile & analytics

    503 Aspen Ave Broken Arrow, OK 74012-2296

    • Medical offices
    • 8,050 SF
    • 1.07 lot acres
    OFF-MARKET
    Last Sale
    Oct 21, 2021
    $3,000,000
    Value Estimations
    $2,280,000
    Show details
    Cap Rate Potential
    3.5%
    Medical offices
    Location Intelligence
    Property ID
    US69-0233552
    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

    • Miller David W MD / Emergency Care Physician
    • Hill Tony Ray Do-MedNOW UrgentCare / Emergency Care Physician / Doctor
    • Dana Weatherford / General Practitioner / Physician Assistant
    • Dr. Kristin Wills / Emergency Care Physician / Practitioner Service Location
    • Tony Hill / Emergency Care Physician / Medical Clinic

    Property Details for 503 Aspen Ave

    Year built
    2010
    Construction
    WOOD FRAME
    Lot size
    1.07 lot acres
    Property size
    8,050 SF
    Zone code
    ON
    Property type
    Medical offices
    Property subtype
    Medical centers
    APN
    78880-84-10-45460
    APU
    78880841045460

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      Statistic approach
      $2,285,000
      ML approach
      $1,880,000

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $2,193,000
      Market price range: $746k - $2.19M

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

    Location Insight

    • Map
    • Local Demand
    City
    Broken Arrow
    County
    Tulsa
    State
    Oklahoma
    Longitude
    -95.8146
    Latitude
    36.0501
    CBSA code
    46140
    CBSA name
    TULSA, 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
    $37,556
    $25,575
    $261,767
    $287,342
    -
    $232,500
    $2,379,700
    $2,612,200

    Comparable in this City

    • Value Estimation
      $270,000
      9,000 SF

      210 Main St Ste, Unit 102

      MEDICAL BUILDING • 9,000 SF
      210 Main St Ste, Broken Arrow, OK 74012-4178
      View Details
    • Value Estimation
      $250,000
      3,462 SF

      521 Aspen Ave

      MEDICAL BUILDING • 3,462 SF
      521 Aspen Ave, Broken Arrow, OK 74012-2296
      View Details
    • Value Estimation
      $520,000
      3,023 SF

      123 Main St

      MEDICAL BUILDING • 3,023 SF
      123 Main St, Broken Arrow, OK 74012-3938
      View Details
    • Value Estimation
      $275,000
      3,265 SF

      4428 Houston St

      MEDICAL BUILDING • 3,265 SF
      4428 Houston St, Broken Arrow, OK 74012
      View Details
    • Value Estimation
      $435,000
      2,112 SF

      608 Kenosha St

      MEDICAL BUILDING • 2,112 SF
      608 Kenosha St, Broken Arrow, OK 74012-8911
      View Details
    • Value Estimation
      $4,195,000
      10,248 SF

      1551 9th St

      MEDICAL BUILDING • 10,248 SF
      1551 9th St, Broken Arrow, OK 74012-8898
      View Details

    Similar Nearby for Sale

    • $2,900,000
      15,445 SF

      Berkshire Medical Plaza For Sale

      Berkshire Medical Plaza For Sale
      4800 W San Antonio Street, Broken Arrow, OK 74012
      View Details
    • $2,900,000
      15,865 SF

      Berkshire Medical Plaza: Prime OK Investment

      Medical Office Building, High Occupancy, Strong NOI
      4800 San Antonio St, Broken Arrow, OK 74012
      View Details
    • $1,350,000
      4,500 SF

      Well-Located Office Building For Sale

      Well-maintained office building in Broken Arrow's professional district.
      1015 W Ithica St, Broken Arrow, OK 74012
      View Details
    • $2,040,600
      10,520 SF

      Office or Medical Use Building

      Versatile building suitable for office or medical use.
      4404-4416 W Houston St, Broken Arrow, OK 74012
      View Details
    • $1,800,000
      18,730 SF

      Broken Arrow Office Building For Sale

      Office building near Rose District and New Orleans Square.
      508 W Atlanta St, Broken Arrow, OK 74012
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    • $1,675,000
      11,040 SF

      Sequoyah Professional Building: Broken Arrow

      Prime Office Complex: 9 Suites, High Value
      2021 Elm Pl, Broken Arrow, OK 74012
      View Details

    Similar Nearby for Lease

    • $20 SF/Yr
      5,636 SF

      Berkshire Plaza: Broken Arrow Offices

      Flexible Medical & Creative Office Suites
      1615 Eucalyptus Ave, Broken Arrow, OK 74012
      View Details
    • $19 SF/Yr
      15,445 SF

      Broken Arrow Medical/Office Space

      2659 SF medical/office space available for lease.
      4800 W San Antonio St, Broken Arrow, OK 74012
      View Details
    • $11 SF/Yr
      3,200 SF

      Medical Office Space Available

      3200 SF medical office space for rent.
      3100 S Elm Pl, Broken Arrow, OK 74012
      View Details
    • $20 SF/Yr
      2,500 SF

      Broken Arrow Office Space Available

      Office suites available with abundant parking and highway access.
      1621 S Eucalyptus Ave, Broken Arrow, OK 74012
      View Details
    • $17 SF/Yr
      770 SF

      Broken Arrow Office Space Available

      Office space available for lease in Broken Arrow, Oklahoma.
      2950-3000 S Elm Pl, Broken Arrow, OK 74012
      View Details
    • $16 SF/Yr
      2,572 SF

      Broken Arrow Garden Office Space

      Upgraded office space in premier Broken Arrow location for rent.
      3040 N Hemlock Cir, Broken Arrow, OK 74012
      View Details
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    503 Aspen Ave
    Broken Arrow, OK 74012-2296
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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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