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

    5229 Owen K Garriott Rd Enid, OK 73703-4605

    • Drive through restaurants
    • 3,040 SF
    • 0.93 lot acres
    OFF-MARKET
    Last Sale
    Dec 08, 2023
    $1,250,000
    Value Estimations
    $1,290,000
    Show details
    Cap Rate Potential
    Location Intelligence
    Property ID
    US69-0820297
    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

    • Drive through restaurants

    Property Details for 5229 Owen K Garriott Rd

    Year built
    2016
    Lot size
    0.93 lot acres
    Property size
    3,040 SF
    Property type
    Drive through restaurants
    APN
    1211-00-001-001-0-010-00
    APU
    121100001001001000

    Description

    This exceptional retail property, located at 5229 W. Owen K. Garriott Road in Enid, Oklahoma, presents a unique investment opportunity. The 3,040 square foot building sits on approximately 0.93 acres of land, offering ample space and visibility. Constructed in 2016, the property is classified as Class B and features a convenient drive-thru, ideal for a fast-casual restaurant or similar business. Its strategic location as a Lowe's outparcel at a well-lit intersection ensures high traffic volume and excellent exposure to potential customers. The single-tenancy building is situated in Garfield County, Oklahoma, with a zip code of 73703. The property's size and features make it an attractive option for businesses seeking a prominent location in a thriving Enid market. This is a rare opportunity to acquire a well-maintained, recently built retail space in a high-traffic area. The property's convenient access and visibility make it an ideal location for a variety of retail businesses. Serious inquiries are encouraged.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      Statistic approach
      $1,355,000
      ML approach
      $1,310,000

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

    Location Insight

    • Map
    • Local Demand
    City
    Enid
    County
    Garfield
    State
    Oklahoma
    Longitude
    -97.9431
    Latitude
    36.3903
    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
    $11,915
    $50,703
    $62,193
    $112,896
    -
    $405,620
    $497,540
    $903,160

    Comparable in this City

    • Value Estimation
      $2,315,000
      2,634 SF

      1505 Owen K Garriott Rd

      DRIVE-THRU RESTAURANT, FAST FOOD • 2,634 SF
      1505 Owen K Garriott Rd, Enid, OK 73703-5748
      View Details
    • Value Estimation
      $695,000
      4,845 SF

      4329 Owen K Garriott Rd

      DRIVE-THRU RESTAURANT, FAST FOOD • 4,845 SF
      4329 Owen K Garriott Rd, Enid, OK 73703-4810
      View Details
    • Value Estimation by Request
      1,833 SF

      1407 Van Buren St

      DRIVE-THRU RESTAURANT, FAST FOOD • 1,833 SF
      1407 Van Buren St, Enid, OK 73703-7854
      View Details
    • Value Estimation
      $1,770,000
      4,582 SF

      1801 Van Buren St

      DRIVE-THRU RESTAURANT, FAST FOOD • 4,582 SF
      1801 Van Buren St, Enid, OK 73703-2518
      View Details
    • Value Estimation by Request
      4,134 SF

      1010 Maine Ave

      DRIVE-THRU RESTAURANT, FAST FOOD • 4,134 SF
      1010 Maine Ave, Enid, OK 73703-5844
      View Details
    • Value Estimation by Request
      3,338 SF

      3904 Owen K Garriott Rd

      DRIVE-THRU RESTAURANT, FAST FOOD • 3,338 SF
      3904 Owen K Garriott Rd, Enid, OK 73703-4801
      View Details

    Similar Nearby for Sale

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      Enid Restaurant/Retail Opportunity

      Established fast-casual dining location with flexible opportunities.
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      Prime Retail Property on Highway

      Excellent retail property on a highly coveted highway stretch.
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      Adaptable commercial property with income potential in Enid, Oklahoma.
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      2610 W. Owne K Garriott Rd. - Enid, OK Rainbow Sport Honda Yamaha

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    Similar Nearby for Lease

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      3,328 SF

      3,328 SF on 0.92 Acres Restaurant Building For Lease - 606 S. Garland Road

      3,328 SF on 0.92 Acres Restaurant Building For Lease - 606 S. Garland Road
      606 S. Garland Road, Enid, OK 73703
      View Details
    • $12 SF/Yr
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      Retail Space in Growing Market

      Retail space ideal for retail, service, or restaurant use.
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      View Details
    • $24 SF/Yr
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      Restaurant Space For Rent

      2nd Gen restaurant space available for rent.
      5610 W Owen K Garriott Rd, Enid, OK 73703
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    • $12 SF/Yr
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      Retail Space in High Traffic Area

      Retail spaces available in a high-traffic shopping center.
      2311-2333 W Willow Rd, Enid, OK 73703
      View Details
    • $22 SF/Yr
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      Retail Space For Lease

      Retail space available, anchored by national retailers, high traffic location.
      4406 W Owen K Garriott Rd, Enid, OK 73703
      View Details
    • Contact for pricing
      108,095 SF

      Willow Plaza Retail Center

      Enid, OK Shopping Center Opportunity
      2311 Willow Rd, Enid, OK 73703
      View Details
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    Enid, OK 73703-4605
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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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