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    Property profile & analytics

    6003 15Th St Midwest City, OK 73110

    • Strip malls
    • 15,000 SF
    • 1.45 lot acres
    For Sale
    View listing
    $4,330,000
    Value Estimations
    Cap Rate Potential
    Location Intelligence
    Property ID
    US69-0750432
    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

    • Strip malls

    Property Details for 6003 15Th St

    Year built
    1996
    Construction
    STEEL FRAME
    Lot size
    1.45 lot acres
    Property size
    15,000 SF
    Property type
    Strip malls
    Property subtype
    Neighborhood centers
    APN
    15-020-7990
    APU
    150207990

    Description

    The Sooner Rose III Shopping Center, located at 6003 SE 15th St, Midwest City, OK 73110, presents a compelling investment opportunity. This 13,750 square foot shopping center sits on a 1.447-acre lot and is currently 100% occupied by four established tenants, offering a stabilized investment with long-term leases. The property boasts a strong net operating income (NOI) of $324,750, resulting in a 7.50% capitalization rate and an asking price of $4,330,000 ($314.91/sq ft). Anchor tenant, Louie's Grill & Bar (4,500 sq ft), has six years remaining on its lease. Other tenants include Uptown Cheapskate, Big O Pork & Dreams, and World of Smoke, each contributing to a diverse tenant mix with lease terms ranging from five to seven years. Rental rates range from $17 to $28 per square foot. Situated in a high-traffic area with excellent visibility and ample parking, the center benefits from its proximity to Tinker Air Force Base and ongoing development in the surrounding area, promising long-term appreciation potential. The property's modern storefronts and strategic location contribute to its strong curb appeal and consistent shopper traffic, making it an attractive investment for those seeking a stable, income-generating asset with growth potential in a thriving market. This is a prime retail corridor in Midwest City, Oklahoma.

    Value Estimations

    based on Realmo’s proprietary methodology

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $2,237,000
      Market price range: $797k - $2.70M

    • Alternative Use

      Use
      Estimation
      NEIGHBORHOOD: SHOPPING CENTER
      $1,700,000
      Current use
      MEDICAL BUILDING
      $2,340,000
      Change: +38% Conversion: Difficult
      AUTO REPAIR, GARAGE
      $2,230,000
      Change: +31% Conversion: Difficult
      OFFICE BUILDING
      $1,925,000
      Change: +13% Conversion: Moderate
      RETAIL STORES
      $1,850,000
      Change: +9% Conversion: Easy
      COMMERCIAL (GENERAL)
      $1,750,000
      Change: +3% Conversion: Easy

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

    Location Insight

    • Map
    • Local Demand
    City
    Midwest City
    County
    Oklahoma
    State
    Oklahoma
    Longitude
    -97.4171
    Latitude
    35.4502
    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
    $17,145
    $41,599
    $104,055
    $145,654
    -
    $378,180
    $945,949
    $1,324,129

    Comparable in this City

    • Value Estimation
      $2,655,000
      17,692 SF

      1200 Air Depot Blvd

      SHOPPING CENTER, STRIP CENTER • 17,692 SF
      1200 Air Depot Blvd, Midwest City, OK 73110-4866
      View Details
    • Value Estimation by Request
      3,500 SF

      7128 Reno Ave

      SHOPPING CENTER, STRIP CENTER • 3,500 SF
      7128 Reno Ave, Midwest City, OK 73110-4478
      View Details
    • Value Estimation by Request
      5,534 SF

      5710 Reno Ave

      SHOPPING CENTER, STRIP CENTER • 5,534 SF
      5710 Reno Ave, Midwest City, OK 73110-2005
      View Details
    • Value Estimation
      $1,180,000
      7,488 SF

      7452 Reno Ave

      SHOPPING CENTER, STRIP CENTER • 7,488 SF
      7452 Reno Ave, Midwest City, OK 73110-4206
      View Details
    • Value Estimation
      $1,715,000
      10,465 SF

      140 Midwest Blvd

      SHOPPING CENTER, STRIP CENTER • 10,465 SF
      140 Midwest Blvd, Midwest City, OK 73110-4682
      View Details
    • Value Estimation by Request
      7,280 SF

      6312 Reno Ave

      SHOPPING CENTER, STRIP CENTER • 7,280 SF
      6312 Reno Ave, Midwest City, OK 73110-2159
      View Details

    Similar Nearby for Sale

    • $2,042,245
      10,100 SF

      Fully Occupied Retail Investment Property

      Retail property with notable tenants, near Tinker Air Force Base.
      2320 South Air Depot Blvd, Midwest City, OK 73110
      View Details
    • $2,042,245
      10,100 SF

      Occupied Retail Center Near Air Force Base

      Fully occupied retail center located near Tinker Air Force Base.
      2320-2340 S Air Depot Blvd, Midwest City, OK 73110
      View Details
    • $4,330,000
      13,750 SF

      Sooner Rose III Shopping Center

      Midwest City Retail Investment Opportunity
      6003 15Th St, Midwest City, OK 73110
      View Details
    • $8,495,000
      98,949 SF

      Gateway Plaza Retail Opportunity

      Well-maintained shopping center with national and local tenants.
      1347 Gateway Plz, Oklahoma City, OK 73110
      View Details
    • Contact for pricing
      2,730 SF

      Newly-Renovated Restaurant For Sale

      Restaurant property for sale with zero landlord responsibilities.
      6825 SE 29Th St, Oklahoma City, OK 73110
      View Details
    • $850,000
      7,825 SF

      Turnkey Car Wash For Sale

      Operating car wash with equipment included, located in Midwest City.
      208 S Air Depot Blvd, Oklahoma City, OK 73110
      View Details

    Similar Nearby for Lease

    • $14 SF/Yr
      2,700 SF

      Retail Space in Midwest City

      Retail space available in a highly visible shopping center.
      1200 S Air Depot Blvd, Oklahoma City, OK 73110
      View Details
    • Contact for pricing
      650 SF

      Retail Center Near Tinker AFB

      Retail spaces available near Midwest City High School.
      1100 S Air Depot Blvd, Midwest City, OK 73110
      View Details
    • Contact for pricing
      15,265 SF

      637 SF-15,265 SF Uptown Plaza For Lease - 7505-7537 S.E. 15th Street

      637 SF-15,265 SF Uptown Plaza For Lease - 7505-7537 S.E. 15th Street
      7505-7537 S.E. 15th Street, Midwest City, OK 73110
      View Details
    • $12 SF/Yr
      75,071 SF

      Heritage Plaza Office Suites

      Midwest City, OK Office Space Available
      351 Air Depot Blvd, Midwest City, OK 73110
      View Details
    • $540,000
      2,536 SF

      Freestanding Building with Drive Thru

      Freestanding building with drive-thru available for sale or lease.
      904 S Air Depot Blvd, Oklahoma City, OK 73110
      View Details
    • $25 SF/Yr
      5,208 SF

      Midwest City Retail Space - 5208 SF

      Prime Retail Location, High Traffic Area
      6205 15Th St, Midwest City, OK 73110
      View Details
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    6003 15Th St
    Midwest City, OK 73110
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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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