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

    5251 Reno Ave Oklahoma City, OK 73127-6371

    • Warehouses
    • 40,200 SF
    • 6.06 lot acres
    OFF-MARKET
    Value Estimations
    $3,580,000
    Show details
    Cap Rate Potential
    Location Intelligence
    Property ID
    US69-0754350
    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

    • Mill Creek Millwork & Manufacturing / Building Supply / Industrial Manufacturer
    • Mill Creek Carpet & Tile / Carpet & Flooring Store

    Property Details for 5251 Reno Ave

    Year built
    1965
    Construction
    MASONRY/CONCRETE MASONRY UNITS (CMUS)
    Lot size
    6.06 lot acres
    Property size
    40,200 SF
    Property type
    Warehouses
    APN
    14-807-2085
    APU
    148072085

    Value Estimations

    based on Realmo’s proprietary methodology

    • CAP approach

      CAP Return
      Estimation
      6%
      $5,305,000
      6.5%
      $4,895,000
      7%
      $4,545,000

    • Alternative Use

      Use
      Estimation
      WAREHOUSE, STORAGE
      $4,100,000
      Current use
      OFFICE BUILDING
      $5,160,000
      Change: +26% Conversion: Difficult
      RETAIL STORES
      $4,960,000
      Change: +21% Conversion: Moderate
      NEIGHBORHOOD: SHOPPING CENTER
      $4,555,000
      Change: +11% Conversion: Moderate

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

    Location Insight

    • Map
    • Local Demand
    City
    Oklahoma City
    County
    Oklahoma
    State
    Oklahoma
    Longitude
    -97.6115
    Latitude
    35.4658
    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
    $54,014
    $55,112
    $387,953
    $443,065
    -
    $597,586
    $4,206,606
    $4,804,192

    Comparable in this City

    • Value Estimation
      $1,835,000
      30,424 SF

      5519 4th St

      WAREHOUSE, STORAGE • 30,424 SF
      5519 4th St, Oklahoma City, OK 73127-6604
      View Details
    • Value Estimation
      $900,000
      12,000 SF

      420 Glade Ave

      WAREHOUSE, STORAGE • 12,000 SF
      420 Glade Ave, Oklahoma City, OK 73127-5038
      View Details
    • Value Estimation
      $1,025,000
      11,800 SF

      408 Morgan Rd

      WAREHOUSE, STORAGE • 11,800 SF
      408 Morgan Rd, Oklahoma City, OK 73127-7141
      View Details
    • Value Estimation
      $820,000
      7,000 SF

      10549 10th St

      WAREHOUSE, STORAGE • 7,000 SF
      10549 10th St, Oklahoma City, OK 73127-7157
      View Details
    • Value Estimation
      $3,750,000
      54,000 SF

      200 Greenfield Ctr Dr

      WAREHOUSE, STORAGE • 54,000 SF
      200 Greenfield Ctr Dr, Oklahoma City, OK 73127-7169
      View Details
    • Value Estimation
      $1,795,000
      10,500 SF

      717 Morgan Rd

      WAREHOUSE, STORAGE • 10,500 SF
      717 Morgan Rd, Oklahoma City, OK 73127-7142
      View Details

    Similar Nearby for Sale

    • $650,000
      11,350 SF

      Two Warehouses on Large Lot

      Two warehouses on 1.04 acres with fenced yard.
      4713 NW 10Th St, Oklahoma City, OK 73127
      View Details
    • $1,000,000
      14,850 SF

      Oklahoma City Warehouse - $1M

      14,850 SF Warehouse, NNN Lease
      4621 10Th St, Oklahoma City, OK 73127
      View Details
    • $2,275,000
      20,000 SF

      Oklahoma City Warehouse - $2.275M

      20,000 SF Warehouse, High Traffic Location
      400 Macarthur Blvd, Oklahoma City, OK 73127
      View Details
    • $3,875,000
      20,800 SF

      Manufacturing Space with Crane Systems

      20,800 SF manufacturing space on 4.2 acres with crane systems.
      9505 West Reno Ave, Oklahoma City, OK 73127
      View Details
    • $5,490,000
      84,190 SF

      Oklahoma City Warehouse - $5.49M

      84,190 SF Warehouse, Excellent Location
      10500 Reno Ave, Oklahoma City, OK 73127
      View Details
    • $850,000
      10,250 SF

      Renovated Industrial Building in Oklahoma

      10,250 SF industrial building renovated in 2024, Oklahoma City.
      8516 W Reno Ave, Oklahoma City, OK 73127
      View Details

    Similar Nearby for Lease

    • Contact for pricing
      280,000 SF

      Oklahoma City Warehouse Space Available

      280,000 square foot warehouse space for lease in Oklahoma City.
      10333 West Reno Ave, Oklahoma City, OK 73127
      View Details
    • $11 SF/Yr
      1,470 SF

      Highway Accessible Warehouse Space

      Newly constructed warehouse space with office and highway access.
      3609 S Council Rd, Oklahoma City, OK 73127
      View Details
    • $8 SF/Yr
      34,600 SF

      Oklahoma City Industrial Warehouse

      Multiple Units, 3,000-3,280 sqft
      5 Council Rd, Oklahoma City, OK 73127
      View Details
    • $7 SF/Yr
      11,000 SF

      Oklahoma City Warehouse Space Available

      11,000 square foot warehouse space for lease.
      404 N Rockwell Ave, Oklahoma City, OK 73127
      View Details
    • $3 SF/Yr
      225,000 SF

      Oklahoma City Warehouse Space Available

      225,000 square foot warehouse space for lease.
      5400 NW 5Th St, Oklahoma City, OK 73127
      View Details
    • $7 SF/Yr
      11,392 SF

      Warehouse Space Near Major Interstates

      11,392 SF warehouse with office space near I-40 and I-44.
      723 North Ann Arbor Ave, Oklahoma City, OK 73127
      View Details
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    Oklahoma City, OK 73127-6371
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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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