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

    601 Kelly Ave Edmond, OK 73003-5698

    • Specialty properties
    • 10,505 SF
    • 2.50 lot acres
    OFF-MARKET
    Last Sale
    Dec 30, 2024
    $1,650,000
    Value Estimations
    $1,650,000
    Show details
    Cap Rate Potential
    Location Intelligence
    Property ID
    US69-0624394
    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

    • Hardin Sharla / Dentist
    • Richey Ralph B CPA / Accountant / Certified Public Accountant
    • Norval Keil Ea / Tax Preparation Service
    • Jerry Tipton Construction Co / Excavating Contractor
    • Shawn Forth Homes / Home Builder

    Property Details for 601 Kelly Ave

    Year built
    2000
    Construction
    WOOD FRAME
    Lot size
    2.50 lot acres
    Property size
    10,505 SF
    Property type
    Specialty properties
    APN
    18-255-1515
    APU
    182551515

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      Statistic approach
      $1,650,000
      ML approach
      $1,650,000

    • Alternative Use

      Use
      Estimation
      RESTAURANT
      $1,850,000
      COMMERCIAL (GENERAL)
      $1,480,000
      MEDICAL BUILDING
      $1,130,000
      INDUSTRIAL (GENERAL)
      $1,060,000

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

    Location Insight

    • Map
    • Local Demand
    City
    Edmond
    County
    Oklahoma
    State
    Oklahoma
    Longitude
    -97.4969
    Latitude
    35.6508
    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
    $18,901
    $59,895
    $121,423
    $181,318
    -
    $544,500
    $1,103,848
    $1,648,348

    Comparable in this City

    • Value Estimation by Request
      4,960 SF

      1100 Kelly Ave

      DAY CARE, PRE-SCHOOL • 4,960 SF
      1100 Kelly Ave, Edmond, OK 73003-4862
      View Details
    • Value Estimation
      $820,000
      8,787 SF

      733 Vlg Pkwy

      DAY CARE, PRE-SCHOOL • 8,787 SF
      733 Vlg Pkwy, Edmond, OK 73003-9701
      View Details
    • Value Estimation by Request
      3,680 SF

      729 2nd St

      DAY CARE, PRE-SCHOOL • 3,680 SF
      729 2nd St, Edmond, OK 73003-5422
      View Details
    • Value Estimation by Request
      25,583 SF

      401-441 Fretz Ave

      Office space • 25,583 SF
      401-441 Fretz Ave, Edmond, OK 73003
      View Details
    • Value Estimation by Request
      0.16 Acres

      31 6th St

      VACANT COMMERCIAL LAND • 0.16 Acres
      31 6th St, Edmond, OK 73003
      View Details
    • Value Estimation by Request
      0.03 Acres

      Edmond, OK 73003

      VACANT COMMERCIAL LAND • 0.03 Acres
      Edmond, OK 73003
      View Details

    Similar Nearby for Sale

    • Contact for pricing
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    • $1,287,000
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      Edmond Commercial Land - Prime Location

      2.04 Acres, Build-Ready, High Traffic
      Covell Village Dr, Edmond, OK 73003
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    • $2,000,000
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      Land Ready for Development

      4 acre commercial land parcel with utilities in Edmond, OK.
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    • $1,574,694

      Land Available in Edmond, OK

      Land for sale at 1500 N Santa Fe Ave, Edmond, OK.
      1500 N Santa Fe Ave, Edmond, OK 73003
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    • $290,000
      Pending

      Edmond Duplex: Investment Opportunity

      Well-maintained duplex in Edmond with immediate income potential.
      152 Barrett Pl, Edmond, OK 73003
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    • $87,000
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      Residential Land in 55+ Community

      Land available in gated 55+ community with amenities.
      909 Villas Creek Dr, Edmond, OK 73003
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    Similar Nearby for Lease

    • $17 SF/Yr
      2,000 SF

      Edmond Retail Space: 2,000 SF

      High-visibility Edmond retail suite, ample parking.
      201-285 S. Santa Fe Avenue, Edmond, OK 73003
      View Details
    • $10 SF/Yr
      86,427 SF

      Kelly Plaza Retail Center

      Edmond, OK Shopping Center Opportunity
      828-840 Edmond Rd, Edmond, OK 73003
      View Details
    • $13 SF/Yr
      1,400 SF

      Retail Space Near Walmart

      Retail space in a high-traffic area near major retailers.
      2000 W Danforth Rd, Edmond, OK 73003
      View Details
    • $13 SF/Yr
      1,624 SF

      Office Space Near Broadway Extension

      Office space for rent, close to Broadway Extension.
      409 Fretz Ave, Edmond, OK 73003
      View Details
    • $18 SF/Yr
      1,000 SF

      Edmond Office Space Available

      Office space available for lease in Edmond, Oklahoma.
      405 W 2Nd St, Edmond, OK 73003
      View Details
    • $825,500
      1,910 SF

      New Construction Office Space

      New office space with ample parking and convenient location.
      833 Kelly Lakes Pass, Edmond, OK 73003
      View Details
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    601 Kelly Ave
    Edmond, OK 73003-5698
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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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