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

    616 Owen K Garriott Rd Enid, OK 73701-5525

    • Turn key restaurants
    • 2,188 SF
    • 0.17 lot acres
    OFF-MARKET
    Last Sale
    Jan 14, 2022
    Value Estimations
    $345,000
    Show details
    Cap Rate Potential
    Location Intelligence
    Property ID
    US69-0789159
    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

    • Heydy's Place / Mexican Restaurant / Guatemalan Restaurant

    Property Details for 616 Owen K Garriott Rd

    Year built
    1973
    Lot size
    0.17 lot acres
    Property size
    2,188 SF
    Property type
    Turn key restaurants
    APN
    5010-00-015-008-0-115-00
    APU
    501000015008011500

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      ML approach
      $305,000

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $389,000
      Market price range: $99.3k - $389k
      AI Estimate
      $275,000
      Market price range: $119k - $276k

    • Alternative Use

      Use
      Estimation
      RESTAURANT
      $200,000
      Current use
      OFFICE BUILDING
      $240,000
      Change: +21% Conversion: Moderate
      RETAIL STORES
      $185,000
      Change: -8% Conversion: Easy

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

    Location Insight

    • Map
    • Local Demand
    City
    Enid
    County
    Garfield
    State
    Oklahoma
    Longitude
    -97.8856
    Latitude
    36.3911
    CBSA code
    21420
    CBSA name
    ENID, OK MICROPOLITAN 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
    $5,876
    $5,094
    $50,589
    $55,683
    -
    $40,750
    $404,713
    $445,463

    Comparable in this City

    • Value Estimation
      $310,000
      6,750 SF

      221 Randolph Ave

      RESTAURANT • 6,750 SF
      221 Randolph Ave, Enid, OK 73701-4006
      View Details
    • Value Estimation
      $245,000
      2,045 SF

      226 Randolph Ave

      RESTAURANT • 2,045 SF
      226 Randolph Ave, Enid, OK 73701-4007
      View Details
    • Value Estimation by Request
      3,022 SF

      324 Grand St

      RESTAURANT • 3,022 SF
      324 Grand St, Enid, OK 73701-5657
      View Details
    • Value Estimation
      $380,000
      3,542 SF

      624 Owen K Garriott Rd

      RESTAURANT • 3,542 SF
      624 Owen K Garriott Rd, Enid, OK 73701-5525
      View Details
    • Value Estimation
      $70,000
      1,560 SF

      2705 Rock Is Blvd

      RESTAURANT • 1,560 SF
      2705 Rock Is Blvd, Enid, OK 73701-1406
      View Details
    • Value Estimation
      $50,000
      2,387 SF

      379 Willow Rd

      RESTAURANT • 2,387 SF
      379 Willow Rd, Enid, OK 73701-1545
      View Details

    Similar Nearby for Sale

    • $500,000
      0.84 Acres

      Turnkey Restaurant & Bar Opportunity

      Fully operational restaurant and bar with entertainment space on corner lot.
      117 W Oxford Ave, Enid, OK 73701
      View Details
    • New
      $95,000
      Pending

      Versatile Commercial Property Near Vance AFB

      Multi-building commercial property on 0.5 acres in Enid, Oklahoma.
      1416 N Grand Ave, Enid, OK 73701
      View Details
    • $139,000
      3,077 SF

      Historic Commercial Building in Enid

      Two-story, 3,077 SF commercial building in downtown Enid, Oklahoma.
      216 W Randolph Ave, Enid, OK 73701
      View Details
    • $119,900
      9,750 SF

      Enid Commercial Property For Sale

      Versatile commercial property with multiple insulated buildings and gated lot.
      2809 N Grand Ave, Enid, OK 73701
      View Details
    • $425,000
      12,000 SF

      Enid Retail Building For Sale

      Spacious retail building in prime Enid location for sale.
      115-131 W Owen K Garriott Rd, Enid, OK 73701
      View Details
    • $249,900

      Versatile Commercial Space in Enid

      Adaptable commercial property suitable for office or retail use.
      913 W Maple Ave, Enid, OK 73701
      View Details

    Similar Nearby for Lease

    • Contact for pricing
      7,125 SF

      Downtown Restaurant Space Available

      Historic downtown Enid restaurant space for lease.
      221 W Randolph Ave, Enid, OK 73701
      View Details
    • $12 SF/Yr
      50,000 SF

      Sears Building: Enid Office Space

      Historic Enid office, retail & flex space
      116 Randolph Ave, Enid, OK 73701
      View Details
    • $6 SF/Yr
      3,750 SF

      215 E Randolph Ave, Enid, OK

      3,750 sq ft retail space in downtown Enid, Oklahoma.
      215 E Randolph Ave, Enid, OK 73701
      View Details
    • Contact for pricing

      Enid Industrial Park Land Available

      398-acre industrial park with BNSF Railway access near Enid, OK.
      N 66Th St, Enid, OK 73701
      View Details
    • $18 SF/Yr
      42,736 SF

      Enid Medical Office Building For Sale

      Prime medical office space, Enid, OK. Multiple suites available.
      915 Owen K Garriott Rd, Enid, OK 73701
      View Details
    • $750 /Mo
      750 SF

      Enid Office Space For Rent

      Office space available for lease in Enid, Oklahoma.
      670 W Willow Rd, Enid, OK 73701
      View Details
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    616 Owen K Garriott Rd
    Enid, OK 73701-5525
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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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