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    511 89th St Oklahoma City, OK 73149-3003
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    511 89th St Oklahoma City, OK 73149-3003

    View on Map
    • Retail space
    • 8,373 SF
    • 4.27 lot acres
    Off-Market
    Last Sale Sep 11, 2020
    Property ID
    US69-0119664
    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.
    Value Estimations
    $1,285,000
    Show details
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Mill Creek Lumber / Building Supply / Hardware & Home Improvement
    • Fox Building Supply / Big Box & Wholesale Store / Building Supply

    Property Details for 511 89th St

    Year built
    1972
    Construction
    STEEL FRAME
    Lot size
    4.27 lot acres
    Property size
    8,373 SF
    Property type
    Retail space
    APN
    14-820-9600
    APU
    148209600

    Value Estimations

    based on Realmo’s proprietary methodology

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $1,524,000
      Market price range: $536k - $1.63M
      AI Estimate
      $800,000
      Market price range: $228k - $875k

    • Alternative Use

      Use
      Estimation
      RETAIL STORES
      $1,035,000
      Current use
      MEDICAL BUILDING
      $1,305,000
      Change: +26% Conversion: Difficult
      AUTO REPAIR, GARAGE
      $1,245,000
      Change: +20% Conversion: Difficult
      COMMERCIAL (GENERAL)
      $1,185,000
      Change: +15% Conversion: Easy
      OFFICE BUILDING
      $1,075,000
      Change: +4% Conversion: Easy
      NEIGHBORHOOD: SHOPPING CENTER
      $950,000
      Change: -8% Conversion: Moderate

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

    Location Insight

    • Map
    • Local Demand
    City
    Oklahoma City
    County
    Oklahoma
    State
    Oklahoma
    Longitude
    -97.5023
    Latitude
    35.3778
    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
    $15,008
    $29,131
    $96,986
    $126,117
    -
    $297,673
    $991,041
    $1,288,714

    Comparable in this City

    • Value Estimation
      $3,830,000
      40,694 SF

      7202 I 35th Service Rd

      RETAIL STORES (PERSONAL SERVICES) • 40,694 SF
      7202 I 35th Service Rd, Oklahoma City, OK 73149-2706
      View Details
    • Value Estimation
      $535,000
      12,000 SF

      1601 66th St

      RETAIL STORES (PERSONAL SERVICES) • 12,000 SF
      1601 66th St, Oklahoma City, OK 73149-5228
      View Details
    • Value Estimation by Request
      1,749 SF

      6027 I 35th Service Rd

      RETAIL STORES (PERSONAL SERVICES) • 1,749 SF
      6027 I 35th Service Rd, Oklahoma City, OK 73149-2101
      View Details
    • Value Estimation
      $620,000
      2,953 SF

      6001 Shields Blvd

      RETAIL STORES (PERSONAL SERVICES) • 2,953 SF
      6001 Shields Blvd, Oklahoma City, OK 73149-1217
      View Details
    • Value Estimation
      $570,000
      3,300 SF

      633 66th St

      RETAIL STORES (PERSONAL SERVICES) • 3,300 SF
      633 66th St, Oklahoma City, OK 73149
      View Details
    • Value Estimation by Request
      2,400 SF

      6000 I 35th Service Rd

      RETAIL STORES (PERSONAL SERVICES) • 2,400 SF
      6000 I 35th Service Rd, Oklahoma City, OK 73149-2104
      View Details

    Similar Nearby for Sale

    • Contact for pricing

      577 Acre Master Planned Park

      Under construction: industrial, office, and retail space in Oklahoma City.
      S Bryant Ave, Oklahoma City, OK 73149
      View Details
    • $650,000
      13,633 SF

      Industrial Buildings on Shields Boulevard

      Two industrial buildings totaling 13,633 SF on 1.43 acres.
      6201 S Shields Blvd, Oklahoma City, OK 73149
      View Details
    • $850,000
      3.93 Acres

      Oklahoma City Land Redevelopment Opportunity

      Cleared 3.93-acre commercial land with high visibility and accessibility.
      6800 S I-35 Service Rd, Oklahoma City, OK 73149
      View Details
    • $3,464,653

      Oklahoma City Development Land Available

      Available land parcels suitable for industrial or retail development.
      8420 S Bryant Ave, Oklahoma City, OK 73149
      View Details
    • $689,990
      57 SF

      58.55 Acres Development Land

      Development land suitable for retail, industrial, or storage.
      S Bryant Ave, Oklahoma City, OK 73149
      View Details
    • $625,000
      5 SF

      Industrial Land with Approved Plans

      5 acres of industrial land with city-approved development plans.
      220 Southeast 79Th St, Oklahoma City, OK 73149
      View Details

    Similar Nearby for Lease

    • Contact for pricing
      2,903 SF

      Retail Space with Highway Access

      Retail space with 18 years remaining on the lease.
      6700 I 35 Service Rd, Oklahoma City, OK 73149
      View Details
    • $10 SF/Yr
      11,200 SF

      Crossroads Plaza: Retail Center

      Oklahoma City retail space for lease
      1025 SE 66TH STREET | Oklahoma City, OK 73149, Oklahoma City, OK 73149
      View Details
    • Contact for pricing
      12,000 SF

      Oklahoma City Warehouse Space Available

      Large industrial warehouse space available for lease in Oklahoma City.
      1300 SE 82Nd St, Oklahoma City, OK 73149
      View Details
    • Contact for pricing
      8,052 SF

      Industrial Property with I-35 Frontage

      8,052 SF industrial space with easy highway access.
      6209 I 35 Service Rd, Oklahoma City, OK 73149
      View Details
    • Contact for pricing

      Distribution Site with Extensive Docks

      Industrial site with 83 docks and easy highway access.
      1300 SE 82Nd St, Oklahoma City, OK 73149
      View Details
    • $10 SF/Yr
      22,584 SF

      Oklahoma City Office Space Available

      Office space with ample parking and high visibility available for rent.
      1115-1119 SE 66Th St, Oklahoma City, OK 73149
      View Details
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    Oklahoma City, OK 73149-3003
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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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