Sign Up Successful!
You now have access to more from Realmo!
Property Lookup
    Property Lookup
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    Back to Search
    The Largest CRE Database in the US with Over 1 Million Listings
    Property profile & analytics

    515 I 240th Service Rd Oklahoma City, OK 73139-4627

    • Retail space
    • 37,312 SF
    • 3.02 lot acres
    OFF-MARKET
    Value Estimations
    $5,250,000
    Show details
    Cap Rate Potential
    Location Intelligence
    Property ID
    US69-0422942
    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

    • Retail space

    Property Details for 515 I 240th Service Rd

    Year built
    2001
    Construction
    MASONRY/CONCRETE MASONRY UNITS (CMUS)
    Lot size
    3.02 lot acres
    Property size
    37,312 SF
    Property type
    Retail space
    APN
    10-288-1000
    APU
    102881000

    Value Estimations

    based on Realmo’s proprietary methodology

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $5,773,000
      Market price range: $2.39M - $7.28M

    • Alternative Use

      Use
      Estimation
      RETAIL STORES
      $4,605,000
      Current use
      MEDICAL BUILDING
      $5,825,000
      Change: +26% Conversion: Difficult
      AUTO REPAIR, GARAGE
      $5,550,000
      Change: +20% Conversion: Difficult
      COMMERCIAL (GENERAL)
      $5,275,000
      Change: +15% Conversion: Easy
      OFFICE BUILDING
      $4,790,000
      Change: +4% Conversion: Easy
      NEIGHBORHOOD: SHOPPING CENTER
      $4,230,000
      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
    -97.5227
    Latitude
    35.3922
    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
    $59,552
    $159,200
    $344,072
    $503,272
    -
    $1,447,281
    $3,127,921
    $4,575,202

    Comparable in this City

    • Value Estimation
      $520,000
      8,600 SF

      1025 89th St

      RETAIL STORES (PERSONAL SERVICES) • 8,600 SF
      1025 89th St, Oklahoma City, OK 73139-9205
      View Details
    • Value Estimation
      $1,070,000
      7,140 SF

      9117 Walker Ave

      RETAIL STORES (PERSONAL SERVICES) • 7,140 SF
      9117 Walker Ave, Oklahoma City, OK 73139-8507
      View Details
    • Value Estimation
      $1,155,000
      6,860 SF

      6212 Western Ave

      RETAIL STORES (PERSONAL SERVICES) • 6,860 SF
      6212 Western Ave, Oklahoma City, OK 73139-1606
      View Details
    • Value Estimation by Request
      3,702 SF

      9817 Western Ave

      RETAIL STORES (PERSONAL SERVICES) • 3,702 SF
      9817 Western Ave, Oklahoma City, OK 73139-2812
      View Details
    • Value Estimation
      $545,000
      3,276 SF

      906 104th St

      RETAIL STORES (PERSONAL SERVICES) • 3,276 SF
      906 104th St, Oklahoma City, OK 73139-3008
      View Details
    • Value Estimation by Request
      4,000 SF

      9416 Western Ave

      RETAIL STORES (PERSONAL SERVICES) • 4,000 SF
      9416 Western Ave, Oklahoma City, OK 73139-2731
      View Details

    Similar Nearby for Sale

    • $399,000
      4,147 SF

      Retail Opportunity in Oklahoma City

      Former convenience store available for sale in Oklahoma City.
      13001 SE 104Th St, Oklahoma City, OK 73139
      View Details
    • $495,000
      1,538 SF

      Retail Property at High-Traffic Corner

      Retail property at the northeast corner of NW 63rd and Meridian.
      4435 NW 63Rd St, Oklahoma City, OK 73139
      View Details
    • $600,000
      5,000 SF

      Retail Building on Walker Avenue

      5,000 SF retail building with flexible layout and parking.
      7380 S Walker Ave, Oklahoma City, OK 73139
      View Details
    • $960,000
      2,344 SF

      I-240 Pad Site: Prime Retail Location

      High-visibility retail pad, 2,344 SF, Oklahoma City.
      912 I-240 Service Rd, Oklahoma City, OK 73139
      View Details
    • Contact for pricing
      23,915 SF

      Automotive Sales and Service Property

      Versatile property designed for automotive sales and service in Oklahoma City.
      208 Service Rd, Oklahoma City, OK 73139
      View Details
    • $1,850,000
      22,540 SF

      Retail/Showroom/Flex Space For Sale

      Retail/Showroom/Flex space remodeled in 2008-2009, currently occupied by Bryan’s Flooring.
      601 W I-240 Service Rd, Oklahoma City, OK 73139
      View Details

    Similar Nearby for Lease

    • $16 SF/Yr
      3,412 SF

      Retail Space Available For Lease

      Retail space available for lease in Oklahoma City, OK.
      7908 N Western Ave, Oklahoma City, OK 73139
      View Details
    • $600,000
      3,750 SF

      Retail Building on S Walker

      5,000 SF retail building with parking and frontage.
      7380-7382 S Walker Ave, Oklahoma City, OK 73139
      View Details
    • $18 SF/Yr
      10,000 SF

      Shoppes on 89th: Retail Space

      Oklahoma City retail space, 1,340 sq ft available.
      3000 89Th St, Oklahoma City, OK 73139
      View Details
    • $13 SF/Yr
      2,840 SF

      Retail Space on S Western

      Retail space available along a busy corridor on S Western.
      7317-7435 S Western Ave, Oklahoma City, OK 73139
      View Details
    • $16 SF/Yr
      5,558 SF

      Oklahoma City Retail Outparcel

      High-visibility retail space, ample parking.
      7705 Walker Ave, Oklahoma City, OK 73139
      View Details
    • $16 SF/Yr
      34,062 SF

      Summit Pointe Plaza Retail Space

      Oklahoma City retail center, prime location.
      9101 Western Ave, Oklahoma City, OK 73139
      View Details
    Request Owner's contact information
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    515 I 240th Service Rd
    Oklahoma City, OK 73139-4627
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    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
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    Google sign-in failed. Please try again or use another login method.