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

    5701 I 240th Service Rd Oklahoma City, OK 73135-5809

    • Retail space
    • 14,240 SF
    • 7.23 lot acres
    OFF-MARKET
    Last Sale
    Nov 19, 2024
    $2,468,000
    Value Estimations
    $2,470,000
    Show details
    Cap Rate Potential
    Location Intelligence
    Property ID
    US69-0418097
    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 5701 I 240th Service Rd

    Year built
    1986
    Construction
    MASONRY/CONCRETE MASONRY UNITS (CMUS)
    Lot size
    7.23 lot acres
    Property size
    14,240 SF
    Property type
    Retail space
    APN
    14-390-6030
    APU
    143906030

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      Statistic approach
      $2,470,000
      ML approach
      $2,470,000

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $2,776,000
      Market price range: $912k - $2.78M
      AI Estimate
      $1,691,000
      Market price range: $548k - $1.69M

    • Alternative Use

      Use
      Estimation
      RETAIL STORES
      $1,760,000
      Current use
      RESTAURANT
      $4,065,000
      Change: +131% Conversion: Easy
      MEDICAL BUILDING
      $2,225,000
      Change: +26% Conversion: Difficult
      AUTO REPAIR, GARAGE
      $2,115,000
      Change: +20% Conversion: Difficult
      COMMERCIAL (GENERAL)
      $2,015,000
      Change: +15% Conversion: Easy
      OFFICE BUILDING
      $1,825,000
      Change: +4% Conversion: Easy
      NEIGHBORHOOD: SHOPPING CENTER
      $1,615,000
      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
    -97.422
    Latitude
    35.3929
    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
    $31,780
    $39,310
    $219,187
    $258,497
    -
    $476,284
    $2,655,716
    $3,132,000

    Comparable in this City

    • Value Estimation by Request
      2,000 SF

      5913 Sunnylane Rd

      RETAIL STORES (PERSONAL SERVICES) • 2,000 SF
      5913 Sunnylane Rd, Oklahoma City, OK 73135-2516
      View Details
    • Value Estimation
      $1,135,000
      6,660 SF

      7400 Sooner Rd

      RETAIL STORES (PERSONAL SERVICES) • 6,660 SF
      7400 Sooner Rd, Oklahoma City, OK 73135-2612
      View Details
    • Value Estimation by Request
      7,544 SF

      4321 44th St

      RETAIL STORES (PERSONAL SERVICES) • 7,544 SF
      4321 44th St, Del City, OK 73135-3001
      View Details
    • Value Estimation
      $5,975,000
      144,000 SF

      6601 Air Depot Blvd

      RETAIL STORES (PERSONAL SERVICES) • 144,000 SF
      6601 Air Depot Blvd, Oklahoma City, OK 73135-5909
      View Details
    • Value Estimation
      $3,200,000
      6,937 SF

      7801 Sooner Rd

      RETAIL STORES (PERSONAL SERVICES) • 6,937 SF
      7801 Sooner Rd, Oklahoma City, OK 73135-6606
      View Details
    • Value Estimation
      $2,815,000
      20,000 SF

      3634 I 240th Service Rd

      RETAIL STORES (PERSONAL SERVICES) • 20,000 SF
      3634 I 240th Service Rd, Oklahoma City, OK 73135
      View Details

    Similar Nearby for Sale

    • Contact for pricing
      37,210 SF

      Oklahoma City Multi-Tenant Portfolio

      Seven-building portfolio, 37,210 SF, 5 acres
      8810-8880 S. Sunnylane Road, Oklahoma City, OK 73135
      View Details
    • $468,535

      I-240 Industrial Land - Oklahoma City

      Prime I-2 development site, excellent location.
      6520 74Th St, Oklahoma City, OK 73135
      View Details
    • $4,650,000
      77,500 SF

      Industrial Buildings with Fenced Yard

      Two industrial buildings with office space and a large fenced yard.
      6420 S Air Depot Blvd, Oklahoma City, OK 73135
      View Details
    • $350,000
      2.80 Acres

      Sooner Road Office Land - $350K

      Prime 2.8-acre office land, excellent visibility.
      4601 S. Sooner Road, Oklahoma City, OK 73135
      View Details
    • $1,219,680
      5.05 Acres

      Commercial Land in Oklahoma City

      5 acres of commercial land zoned for self-storage units.
      8113 S Sunnylane Ln, Oklahoma City, OK 73135
      View Details
    • $1,300,000

      13.37 Acres Near Tinker AFB

      13.37-acre parcel near Tinker AFB, ideal for development.
      4701 S Sooner Rd, Oklahoma City, OK 73135
      View Details

    Similar Nearby for Lease

    • $17 SF/Yr
      3,185 SF

      Oklahoma City Retail Space

      High-traffic retail space, excellent visibility.
      5104 Sooner Rd, Oklahoma City, OK 73135
      View Details
    • $4 SF/Yr
      8,000 SF

      Retail Space For Rent

      8,000 square feet retail space available for lease.
      4500-4700 S Bryant Ave, Oklahoma City, OK 73135
      View Details
    • $7 SF/Yr
      116,507 SF

      Oklahoma City Industrial Space Available

      Versatile warehouse and manufacturing space near I-240 available for rent.
      8120 Mid America Blvd, Oklahoma City, OK 73135
      View Details
    • $7 SF/Yr
      47,593 SF

      Oklahoma City Warehouse with Freezer

      47,593 SF warehouse with freezer and cooler space.
      6601 S Air Depot Blvd, Oklahoma City, OK 73135
      View Details
    • $5 SF/Yr
      77,500 SF

      Oklahoma City Industrial Property

      77,500 SF Industrial Building - Sale/Lease
      6420 S. Air Depot Boulevard, Oklahoma City, OK 73135
      View Details
    • $27 SF/Yr
      12,171 SF

      Oklahoma City Office Space Available

      Office space available for lease in Oklahoma City, OK.
      7919 Mid America Blvd, Oklahoma City, OK 73135
      View Details
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    5701 I 240th Service Rd
    Oklahoma City, OK 73135-5809
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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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