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

    615 Wilshire Blvd Oklahoma City, OK 73114

    • Warehouses
    • 193,320 SF
    • 7.74 lot acres
    For Lease
    View listing
    $10 SF/Yr
    Last Sale
    Dec 01, 2020
    $7,950,000
    Value Estimations
    $7,960,000
    Cap Rate Potential
    Location Intelligence
    Property ID
    US69-0023514
    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

    • Cold Hand Arms / Gun Shop
    • The Range Cafe / Restaurant
    • Wilshire Gun / Gun Shop / Shooting Range
    • M&M Supply Co. Distribution Center / Factory / Production Facility
    • DirtKart OKC / Vehicle Inspection Center

    Property Details for 615 Wilshire Blvd

    Year built
    1957
    Construction
    MASONRY/CONCRETE MASONRY UNITS (CMUS)
    Lot size
    7.74 lot acres
    Property size
    193,320 SF
    Property type
    Warehouses
    APN
    13-458-1015
    APU
    134581015

    Description

    This exceptional Oklahoma County industrial property offers 192,353 square feet of warehouse space, with 76,104 square feet currently vacant. The single-story building, constructed in 1957 and renovated in 2006, boasts a 21-foot ceiling height, five loading docks, and ample parking for 182 vehicles. Three spaces are immediately available, ranging from 18,464 to 57,640 square feet, offering flexible office/warehouse configurations ideal for various businesses. The property features 12 overhead doors, including one ramped drive-through and eleven dock-high doors. Interior office space includes a sizable kitchen/breakroom, three private offices, storage areas, two restrooms, and a utility closet. Situated on 11.92 acres with excellent visibility on Wilshire Boulevard, between Broadway Extension and Nichols Hills, this Class C building is zoned I-2 and has a 200 amp/240-volt, 3-phase power supply. The property is well-maintained and ready for immediate occupancy, with the landlord open to reasonable tenant improvements. This prime location and versatile space make it an attractive investment opportunity for businesses seeking a high-profile, functional workspace. The APN is 134581015.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      Statistic approach
      $7,950,000
      ML approach
      $7,870,000

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $8,082,000
      Market price range: $8.08M - $19.3M

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

    Location Insight

    • Map
    • Local Demand
    City
    Oklahoma City
    County
    Oklahoma
    State
    Oklahoma
    Longitude
    -97.5248
    Latitude
    35.5519
    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
    $98,740
    $102,208
    $701,735
    $803,943
    -
    $929,165
    $6,379,412
    $7,308,577

    Comparable in this City

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      6415 Olie Ave

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    • Value Estimation by Request
      2,236 SF

      7701 Classen Blvd

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      7701 Classen Blvd, Oklahoma City, OK 73116-7011
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    • Value Estimation
      $800,000
      10,060 SF

      901 71st Pl

      WAREHOUSE, STORAGE • 10,060 SF
      901 71st Pl, Oklahoma City, OK 73116-7131
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    • Value Estimation by Request
      5,565 SF

      745 68th St

      MINI-WAREHOUSE, STORAGE • 5,565 SF
      745 68th St, Oklahoma City, OK 73116
      View Details
    • Value Estimation by Request
      6,000 SF

      6500 Shartel Ave

      WAREHOUSE, STORAGE • 6,000 SF
      6500 Shartel Ave, Oklahoma City, OK 73116-7626
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    • Value Estimation by Request
      9,100 SF

      900 66th St

      WAREHOUSE, STORAGE • 9,100 SF
      900 66th St, Oklahoma City, OK 73116-7632
      View Details

    Similar Nearby for Sale

    • $2,000,000
      16,010 SF

      Oklahoma City Industrial Property

      Office/Warehouse, 16,010 SF, $2M
      7608 Hudson Ave, Oklahoma City, OK 73116
      View Details
    • $1,450,000
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      Edgewater Office Park: Two Buildings

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      Oklahoma City Office Build-to-Suit

      Luxury Office Space, Custom Design
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    • $3,250,000

      Developable Land in Nichols Hills

      1.3 acre of developable land in Nichols Hills.
      6401 N Pennsylvania Ave, Nichols Hills, OK 73116
      View Details
    • Contact for pricing

      Oklahoma City Land For Sale

      Land available for sale in Oklahoma City, Oklahoma.
      2220 NE 63Rd St, Oklahoma City, OK 73116
      View Details
    • $3,250,000
      58,232 SF

      Prime Development Land in Nichols Hills

      1.3 acres of developable land suitable for office or multi-family.
      6401 N Pennsylvania Ave, Oklahoma City, OK 73116
      View Details

    Similar Nearby for Lease

    • $2,600 /Mo
      3,600 SF

      Industrial Flex Space For Rent

      Remodeled industrial flex space with office, bathroom, and warehouse.
      313-319 NW 67Th St, Oklahoma City, OK 73116
      View Details
    • $6,000,000
      83,944 SF

      Oklahoma City Warehouse For Lease

      Climate-controlled warehouse with ample parking and versatile loading options.
      7000 N Robinson Ave, Oklahoma City, OK 73116
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    • $8 SF/Yr
      23,351 SF

      Industrial Space Available For Lease

      23,351 square foot industrial space for lease.
      7201 Broadway Ext, Oklahoma City, OK 73116
      View Details
    • $8 SF/Yr
      6,280 SF

      May Ave Warehouse/Showroom

      Oklahoma City Flex Space, 6,280 SF
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      View Details
    • Contact for pricing
      144,500 SF

      Oklahoma City Warehouse Space

      144,500 square foot warehouse space in Oklahoma City.
      616 W Wilshire Blvd, Oklahoma City, OK 73116
      View Details
    • $12 SF/Yr
      4,000 SF

      Broadway Extension Showroom & Warehouse

      Showroom and warehouse space with high visibility on Broadway Extension.
      6910 Broadway Ext, Oklahoma City, OK 73116
      View Details
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    Oklahoma City, OK 73114
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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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