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    Property profile & analytics

    6024 Westlake Pkwy Oklahoma City, OK 73142-2053

    • Individual retail properties
    • 20,247 SF
    • 2.12 lot acres
    OFF-MARKET
    Value Estimations
    $1,085,000
    Show details
    Cap Rate Potential
    Location Intelligence
    Property ID
    US69-1712163
    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

    • Individual retail properties

    Property Details for 6024 Westlake Pkwy

    Year built
    2017
    Lot size
    2.12 lot acres
    Property size
    20,247 SF
    Property type
    Individual retail properties
    APN
    21-274-1005
    APU
    212741005

    Value Estimations

    based on Realmo’s proprietary methodology

    • Alternative Use

      Use
      Estimation
      GYM, HEALTH SPA
      $940,000
      Current use
      MEDICAL BUILDING
      $1,660,000
      Change: +77% Conversion: Difficult
      AUTO REPAIR, GARAGE
      $1,615,000
      Change: +72% Conversion: Difficult
      RETAIL STORES
      $1,570,000
      Change: +67% Conversion: Difficult
      OFFICE BUILDING
      $1,535,000
      Change: +63% Conversion: Difficult
      INDUSTRIAL (GENERAL)
      $1,140,000
      Change: +21% Conversion: Difficult

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

    Location Insight

    • Map
    • Local Demand
    City
    Oklahoma City
    County
    Oklahoma
    State
    Oklahoma
    Longitude
    -97.6242
    Latitude
    35.607
    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
    $55,814
    $76,185
    $348,098
    $424,283
    -
    $692,595
    $3,164,530
    $3,857,125

    Comparable in this City

    • Value Estimation
      $7,210,000
      14,406 SF

      5901 122nd St

      RETAIL STORES (PERSONAL SERVICES) • 14,406 SF
      5901 122nd St, Oklahoma City, OK 73142-4231
      View Details
    • Value Estimation
      $510,000
      7,292 SF

      13425 Macarthur Blvd

      FINANCIAL BUILDING • 7,292 SF
      13425 Macarthur Blvd, Oklahoma City, OK 73142-3024
      View Details
    • Value Estimation
      $770,000
      5,000 SF

      7025 122nd St

      RETAIL STORES (PERSONAL SERVICES) • 5,000 SF
      7025 122nd St, Oklahoma City, OK 73142-3924
      View Details
    • Value Estimation by Request
      2,640 SF

      12404 Macarthur Blvd

      RETAIL STORES (PERSONAL SERVICES) • 2,640 SF
      12404 Macarthur Blvd, Oklahoma City, OK 73142-3003
      View Details
    • Value Estimation
      $660,000
      9,886 SF

      Oklahoma City, OK 73142

      FINANCIAL BUILDING • 9,886 SF
      Oklahoma City, OK 73142
      View Details
    • Value Estimation by Request
      2,452 SF

      12300 Macarthur Blvd

      RETAIL STORES (PERSONAL SERVICES) • 2,452 SF
      12300 Macarthur Blvd, Oklahoma City, OK 73142-3001
      View Details

    Similar Nearby for Sale

    • $1,500,000
      Pending

      Commercial Land Ready to Build

      Flat commercial land in Oklahoma City, ready for development.
      8060 W Memorial Rd, Oklahoma City, OK 73142
      View Details
    • $236,500
      0.22 Acres

      Gaillardia Promenade Residential Land

      Residential land for sale in Oklahoma City's Gaillardia Promenade.
      5816 Promenade Sq, Oklahoma City, OK 73142
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    • $2,900,000
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      Oklahoma City Commercial Land Parcel

      5.1 acres of commercially zoned land in Oklahoma City.
      8000 W Memorial Rd, Oklahoma City, OK 73142
      View Details
    • $1,500,000
      Pending

      Oklahoma City Commercial Land Parcel

      3.65-acre commercial land parcel in Oklahoma City.
      8140 W Memorial Rd, Oklahoma City, OK 73142
      View Details
    • $575,000
      3,120 SF

      Oklahoma City Office Space For Sale

      Office space with reception area, offices, kitchen, and conference room.
      8104 Northwest 122Nd St, Oklahoma City, OK 73142
      View Details
    • $1,500,000
      Pending

      Oklahoma City Commercial Land ForSale

      Commercial land available in Oklahoma City, Oklahoma.
      8100 W Memorial Rd, Oklahoma City, OK 73142
      View Details

    Similar Nearby for Lease

    • $20 SF/Yr
      1,170 SF

      Retail Space with High Visibility

      Retail space featuring high visibility, ample parking, and versatile layout.
      7101 NW 150Th St, Oklahoma City, OK 73142
      View Details
    • $18 SF/Yr
      2,700 SF

      Retail Space with Drive-Thru Potential

      Retail space with drive-thru, near major employers and high-income area.
      13325 N Macarthur Blvd, Oklahoma City, OK 73142
      View Details
    • $29 SF/Yr
      12,764 SF

      Memorial Road Retail Center

      Oklahoma City retail space, 9 suites available
      6400 Memorial Rd, Oklahoma City, OK 73142
      View Details
    • Contact for pricing
      405,244 SF

      Deercrest Marketplace: Retail Power Center

      9.3-acre retail land, build-to-suit available
      0 Rockwell Ave And Kilpatrick Tpke, Oklahoma City, OK 73142
      View Details
    • Contact for pricing

      Kavan Farm: Prime OKC Land

      12 Acres, C-3 Zoning, Deer Creek
      15000 Rockwell Ave, Oklahoma City, OK 73142
      View Details
    • Contact for pricing

      Oklahoma City Land For Lease

      Land available for lease in Oklahoma City, Oklahoma.
      7001 NW 150Th St, Oklahoma City, OK 73142
      View Details
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    6024 Westlake Pkwy
    Oklahoma City, OK 73142-2053
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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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