Back to Search
Property profile & analytics
FOR LEASE
Strip malls
6900 N May Ave Oklahoma City, OK 73116
Entity Owned
1-yr Hold
Absentee Owner
~
Est. High Equity
Property ID
US69-0438033
For Lease
1 / 4
$1,905,000
6900 N May Ave, Oklahoma City, OK 73116
View Listing →
Property summary
AI-generated overview
This 49,436 square foot shopping center in Oklahoma City, OK, presents a compelling value-add opportunity. Currently 78% occupied, the property boasts below-market rents averaging $14.54 per square foot, significantly lower than the Oklahoma City average of $22.50 per square foot (Source: Costar Analytics). This translates to an estimated $124,265 increase in Net Operating Income (NOI) upon full lease-up, adding to the current NOI of $454,531. The asking price is $5,194,600, or $105.08 per square foot, substantially below the estimated replacement cost of approximately $371 per square foot (Source: ProEst). Situated on a sizable 3.74-acre lot, the center offers five points of ingress/egress and ample surface parking. Built in 1981, this multi-tenant property is located at 6900 N May Ave, Oklahoma City, OK 73116, within a dynamically growing city—the 20th largest in America and the 6th fastest-growing among the top 20. The property's strategic location and significant upside potential make it an attractive investment prospect.
Property profile
Verified
Property type
Strip malls
Use group
SHOPPING CENTER, STRIP CENTER
Year built
1981
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Total area
11,880 SF
Lot
5.99 ac (260,881 SF)
APN
11-993-2455
UPID
US69-0438033
Cap rate & NOI
Priority signal for investors
Implied cap rate, NOI & suggested price
Cap rate vs submarket · NOI estimate · 3 price anchors
Implied cap rate, NOI & suggested price
Cap vs submarket · NOI estimate · 3 price anchors
Current use
Occupant on record · Public records
-
TAO Foot Massage Alternative Medicine Practice Spa & Massage Center
-
LibertyX Bitcoin ATM Atm
-
The Honey Baked Ham Company Take-out & Catering Catering Service
-
Culin Blevins Personal Training at Four Star Fitness Gym & Fitness Center
-
Affordable Computer Repair LLC Computer & Electronic Repair
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$2.14M
Blend (final)
Blend
$1.91M
Owner & transaction history
Wh Okc 6900 N May LLC · 1 yrs held
Wh Okc 6900 N May LLC
since 2024
3 recorded transactions
Zoning & alternative use
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Medical building
$1.9M
+37.7%
Commercial (general)
$1.8M
+31.5%
Auto repair, garage
$1.8M
+31.2%
Cap rate
Implied · in-place · derived from last sale + estimated NOI
Implied Cap rate
#1
Implied · in-place · NOI ÷ last sale
In-place · derived from last sale + estimated NOI
Cap rate, NOI & submarket benchmark
Implied cap rate vs Oklahoma City submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Oklahoma City submarket · NOI estimate · typical band, median & reading
Refine your cap rate
8-question underwriting flow
1.
Property current status — Going-In vs Stabilized
2.
Price for denominator — asking / offer / market
3.
Leasing status & lease structure (NNN / Gross)
4.
Tenant risk profile & vacancy assumption
5.
Upload T12 / rent roll / OM (optional)
Refine in 60 seconds, get exact suggested price
T12 upload · Submarket benchmarks · Sensitivity grid
Suggested price · 3 cap rate anchors
Income approach @ 5% / 7% / 9% — aggressive / typical / conservative
Suggested price at 5% / 7% / 9% cap
Aggressive / typical / conservative · Implied $/SF per anchor · Sensitivity grid
Suggested price at 5% / 7% / 9% cap
Aggressive / typical / conservative · implied $/SF · sensitivity
Value
AI, CAP & Alternative Use estimations · Realmo proprietary blendValue Estimations
Based on Realmo’s proprietary methodology
AI Approach
Method
Estimation
Statistic approach
by Request
ML approach
by Request
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
NEIGHBORHOOD: SHOPPING CENTER
$1,345,000
Current use
MEDICAL BUILDING
$1,855,000
Change: +38% · Conversion: Difficult
COMMERCIAL (GENERAL)
$1,770,000
Change: +32% · Conversion: Easy
AUTO REPAIR, GARAGE
$1,765,000
Change: +31% · Conversion: Difficult
OFFICE BUILDING
$1,525,000
Change: +13% · Conversion: Moderate
RETAIL STORES
$1,465,000
Change: +9% · Conversion: Easy
Blend value · Realmo final
$1.91M
Range $1.71M – $2.10M · ±10%
Realmo estimate · informational only.
These numbers are calculated by our models from public records and may not reflect actual market value.
Not an appraisal.
Verify with a licensed appraiser before transacting. Realmo accepts no liability for divergence from real-world outcomes.
View the full estimation — every method, every assumption
Confidence drivers & risk notes · Custom comparable set · Free for first 3 / day
Full estimation methodology
Every method · every assumption · confidence drivers
Price per SF
Sale + rent benchmarks
Subject property
$160 / SF
Submarket sale & rent benchmarks
Median sale $/SF · Asking & closed rent · Submarket vacancy
Submarket sale & rent benchmarks
Median sale $/SF · asking & closed rent · submarket vacancy
Property tax & assessments
Tax year 2023Property tax & assessments
Tax year 2023
Tax billed
$56,890
Tax year 2023
Assessed value
$463,200
Assessed 2023
Previous assessed
$441,143
+5.0% YoY
Effective rate
12.28%
On assessed value
Assessed land
$101,254
Assessed improvement
$361,946
Land market value
$937,584
Improvement market value
$3,351,508
Total market value
$4,289,092
Applied tax rate
200.0000
Comparables
6 recent transactions · within 1.5 miComparable in this city
6 recent transactions
Comparable in this City
Similar Nearby for Sale
Similar Nearby for Lease
Recent comparable sales
Sale price & price/SF · Sale date & distance · Adjustments & confidence
Recent comparable sales
Sale price & $/SF · sale date & distance · adjustments
Property description
Physical attributes from public recordsBuilding & lot
Public records
Property type
Strip malls
Use group
SHOPPING CENTER, STRIP CENTER
Status
For Lease
Year built
1981
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Heating
PACKAGE
Cooling
AC.PACKAGE
Buildings
3
Stories
1
Units
11
Total area
11,880 SF
Lot
5.99 ac (260,881 SF)
APN
11-993-2455
UPID
US69-0438033
Jurisdiction
OKLAHOMA
Zoning & alternative use
Zoning · permitted uses
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Alternative use value scenarios
Repositioning upside vs current use
NEIGHBORHOOD: SHOPPING CENTER Current
Est. value
$1.3M
MEDICAL BUILDING
Est. value
$1.9M
COMMERCIAL (GENERAL)
Est. value
$1.8M
AUTO REPAIR, GARAGE
Est. value
$1.8M
OFFICE BUILDING
Est. value
$1.5M
RETAIL STORES
Est. value
$1.5M
NEIGHBORHOOD: SHOPPING CENTER Current
MEDICAL BUILDING
COMMERCIAL (GENERAL)
AUTO REPAIR, GARAGE
OFFICE BUILDING
RETAIL STORES
Alternative use deep dive — conversion cost, permits, timeline
Conversion cost estimate · Permit path & risks · Stabilized NOI per option
Alternative use deep dive
Conversion cost · permit path · stabilized NOI per option
Building & site characteristics
From public records
Year built
1981
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Heating
PACKAGE
Cooling
Yes
Stories
1
Buildings
3
Units
11
Lot
5.99 ac
Current owner
From public records · entity-resolved
Wh Okc 6900 N May LLC
Entity
Mailing address
4711 GOLF RD STE #1000, SKOKIE, IL 60076-1235
Mailing matches property
Different — outreach signal
Owner-occupied
No
Ownership since
2024
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
3 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Dec 27, 2024
—
Wh Okc 6900 N May LLC
6900 Place Oklahoma LLC
Special Warranty Deed
$4,800,000 · Arvest Bank
—
—
6900 Place Oklahoma LLC
—
Deed Of Trust
related
$3,000,000 · Bank Snb NA
—
—
6900 Place Oklahoma LLC
—
Deed Of Trust
related
$3,800,000 · Lehman Brothers Bank Fsb
Coming soon
Costs & Benchmarks
Operating expenses, capex projections, utility benchmarks, and submarket comparables — all in one view.
Coming soon
Risks
Flood, climate, environmental, title, and tenant-concentration risk — surfaced with mitigations and source citations.
Try Rey
Ask anything about this address in plain English.
“Is 15.6% cap rate sustainable?” · “Best tenant mix for BU1?” · “What’s the redev upside?”
Full reports are paid
Unlock the full Property Analytics report
Start free for 7 days — no card required. Full owner contacts, all 4 valuations with methodology, refine flow, comparable adjustments, foot-traffic deep dive, export to PDF / CSV.
