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

    601 Oklahoma Ave Oklahoma City, OK 73104-1839

    • Warehouses
    • 15,000 SF
    • 0.56 lot acres
    OFF-MARKET
    Last Sale
    Sep 09, 2020
    Value Estimations
    $1,085,000
    Show details
    Cap Rate Potential
    Location Intelligence
    Property ID
    US69-0764511
    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

    • Warehouses

    Property Details for 601 Oklahoma Ave

    Year built
    1930
    Construction
    BRICK
    Lot size
    0.56 lot acres
    Property size
    15,000 SF
    Property type
    Warehouses
    APN
    02-014-6570
    APU
    20146570

    Description

    This exceptional 2.33-acre land assemblage in Oklahoma City's vibrant Downtown Business District presents a unique investment opportunity. The property comprises two existing warehouses and a significant parcel of undeveloped land, totaling 1.56 acres. The first warehouse, located at 601 N Oklahoma Ave, offers 15,000 square feet of space, boasting 11'10" clear height from floor to beam and an impressive 17'2" clear height from floor to roof deck. This building features five commercial-grade roll-up doors, ideal for various industrial or commercial uses. The second warehouse, situated at 621 N Oklahoma Ave, provides 16,106 square feet of space with a 16'0" clear height from floor to roof deck and seven commercial-grade roll-up doors. The substantial undeveloped land offers significant potential for future development, complementing the existing warehouse structures. This property is zoned for Downtown Business District use, providing flexibility for a wide range of development possibilities. The asking price for this prime Oklahoma City property is $5,900,000. Detailed specifications for both warehouses are available upon request. This is a rare opportunity to acquire a large, strategically located land assemblage in a thriving urban core.

    Value Estimations

    based on Realmo’s proprietary methodology

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $1,494,000
      Market price range: $627k - $1.49M

    • Alternative Use

      Use
      Estimation
      WAREHOUSE, STORAGE
      $1,035,000
      Current use
      NEIGHBORHOOD: SHOPPING CENTER
      $1,700,000
      Change: +64% Conversion: Moderate

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

    Location Insight

    • Map
    • Local Demand
    City
    Oklahoma City
    County
    Oklahoma
    State
    Oklahoma
    Longitude
    -97.5108
    Latitude
    35.4732
    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
    $17,807
    $67,375
    $77,612
    $144,987
    -
    $612,500
    $705,568
    $1,318,068

    Comparable in this City

    • Value Estimation
      $750,000
      10,328 SF

      115 Sheridan Ave

      WAREHOUSE, STORAGE • 10,328 SF
      115 Sheridan Ave, Oklahoma City, OK 73104-2419
      View Details
    • Value Estimation by Request
      2,436 SF

      1 California Ave

      WAREHOUSE, STORAGE • 2,436 SF
      1 California Ave, Oklahoma City, OK 73104-2401
      View Details
    • Value Estimation by Request
      12,053 SF

      7 10th St

      WAREHOUSE, STORAGE • 12,053 SF
      7 10th St, Oklahoma City, OK 73104-1401
      View Details
    • Value Estimation
      $3,325,000
      45,650 SF

      2 9th St

      MINI-WAREHOUSE, STORAGE • 45,650 SF
      2 9th St, Oklahoma City, OK 73104-1821
      View Details
    • Value Estimation by Request
      4,047 SF

      927 Reno Ave

      WAREHOUSE, STORAGE • 4,047 SF
      927 Reno Ave, Oklahoma City, OK 73104-7009
      View Details
    • Value Estimation
      $4,485,000
      72,100 SF

      839 Reno Ave

      MINI-WAREHOUSE, STORAGE • 72,100 SF
      839 Reno Ave, Oklahoma City, OK 73104-7012
      View Details

    Similar Nearby for Sale

    • $1,200,000
      6,400 SF

      Historic Bricktown Office/Warehouse Opportunity

      Historic Bricktown building suitable for adaptive reuse or continued commercial use.
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    • $10,500,000
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      Historic Mixed-Use Building For Sale

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      Commercial Land For Sale

      0.32 acres of land zoned I-2.
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      Historic church renovated into Class A office space in prime location.
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    • $150,000
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      Two-lot development package near Downtown Oklahoma City and OU Health Center.
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    Similar Nearby for Lease

    • $10 SF/Yr
      16,950 SF

      Versatile Warehouse with Office Space

      21,505 SF warehouse with office and storage space available.
      3407 E Reno Ave, Oklahoma City, OK 73104
      View Details
    • Contact for pricing
      13,900 SF

      Oklahoma City Flex/Industrial Space

      Flex/Industrial space available for lease in Oklahoma City, OK.
      8 NW 8Th St, Oklahoma City, OK 73104
      View Details
    • $1,000 /Mo
      1,254 SF

      Executive Office Suites For Rent

      Comfortable, sustainable, productive work environment with executive amenities.
      14 NE 13Th St, Oklahoma City, OK 73104
      View Details
    • $22 SF/Yr
      4,269 SF

      Move-in Ready Office Space

      Office space with modern finishes near Bricktown retail and dining.
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      View Details
    • $15 SF/Yr
      10,548 SF

      Turnkey Restaurant & Bar Space

      Restaurant and bar space in Bricktown, near future arena.
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      View Details
    • $22 SF/Yr
      107,250 SF

      Downtown OKC Corner Office Space

      3,277 SF, Bricktown Canal Views
      200 Oklahoma Ave, Oklahoma City, OK 73104
      View Details
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    Oklahoma City, OK 73104-1839
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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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