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

    6900 North May Ave Oklahoma City, OK 73116

    • Strip malls
    • 11,880 SF
    • 5.99 lot acres
    For Lease
    View listing
    Last Sale
    Dec 27, 2024
    Value Estimations
    Cap Rate Potential
    Location Intelligence
    Property ID
    US69-0438033
    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

    • TAO Foot Massage / Massage Therapist
    • LibertyX Bitcoin ATM / Atm
    • The Honey Baked Ham Company / Gourmet Grocery Store / Delivery Restaurant
    • Culin Blevins Personal Training at Four Star Fitness / Personal Trainer
    • Affordable Computer Repair LLC / Computer Repair Service

    Property Details for 6900 North May Ave

    Year built
    1981
    Construction
    MASONRY/CONCRETE MASONRY UNITS (CMUS)
    Lot size
    5.99 lot acres
    Property size
    11,880 SF
    Property type
    Strip malls
    Property subtype
    Neighborhood centers
    APN
    11-993-2455
    APU
    119932455

    Description

    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.

    Value Estimations

    based on Realmo’s proprietary methodology

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $2,135,000
      Market price range: $631k - $2.14M

    • 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

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

    Location Insight

    • Map
    • Local Demand
    City
    Oklahoma City
    County
    Oklahoma
    State
    Oklahoma
    Longitude
    -97.5649
    Latitude
    35.5413
    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
    $56,890
    $101,254
    $361,946
    $463,200
    -
    $937,584
    $3,351,508
    $4,289,092

    Comparable in this City

    • Value Estimation
      $855,000
      13,714 SF

      4236 Expy Expressway

      SHOPPING CENTER, STRIP CENTER • 13,714 SF
      4236 Expy Expressway, Oklahoma City, OK 73116-1589
      View Details
    • Value Estimation
      $655,000
      4,560 SF

      6900 Western Ave

      SHOPPING CENTER, STRIP CENTER • 4,560 SF
      6900 Western Ave, Oklahoma City, OK 73116-7216
      View Details
    • Value Estimation
      $555,000
      9,490 SF

      7300 Western Ave

      SHOPPING CENTER, STRIP CENTER • 9,490 SF
      7300 Western Ave, Oklahoma City, OK 73116-7120
      View Details
    • Value Estimation by Request
      10,788 SF

      3837 63rd St

      SHOPPING CENTER, STRIP CENTER • 10,788 SF
      3837 63rd St, Oklahoma City, OK 73116
      View Details
    • Value Estimation
      $20,240,000
      141,718 SF

      2800 63rd St

      SHOPPING CENTER, STRIP CENTER • 141,718 SF
      2800 63rd St, Oklahoma City, OK 73116-4839
      View Details
    • Value Estimation by Request
      5,548 SF

      6625 Meridian Ave

      SHOPPING CENTER, STRIP CENTER • 5,548 SF
      6625 Meridian Ave, Oklahoma City, OK 73116
      View Details

    Similar Nearby for Sale

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      Prime Oklahoma City retail building, 33,597 SF on 2.11 acres.
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    • $495,000
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      May Ave Parking Lot Investment

      Oklahoma City land, prime location.
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      Executive Garage Condo in OKC

      Spacious 1,820 sq ft garage condo
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      Wilshire Point Garage Condo Investment

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      5,000 SF

      Oklahoma City Build-to-Suit Office

      5,000 SF Class A Office, Owner-User
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      View Details

    Similar Nearby for Lease

    • $13 SF/Yr
      1,600 SF

      Retail Space on N May

      Well-maintained retail space with excellent visibility and access.
      7708 N May Ave, Oklahoma City, OK 73116
      View Details
    • Contact for pricing
      37,346 SF

      Retail Property with Ample Parking

      Retail property featuring frontage and ample parking in Oklahoma City.
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      View Details
    • $22 SF/Yr
      3,715 SF

      Grand Blvd Executive Office Space

      Oklahoma City Office/Retail, 3715 SF
      2800 Grand Blvd, Oklahoma City, OK 73116
      View Details
    • $15 SF/Yr
      38,200 SF

      Lakewood Shopping Center: OKC Retail

      Prime OKC Retail Center - High Visibility
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      View Details
    • Contact for pricing
      55,000 SF

      Wilshire Blvd Office Suites

      Nichols Hills office space, 5 suites available.
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      View Details
    • $2,100,000
      6,035 SF

      Restaurant with Large Parking Lot

      Single tenant restaurant with ample parking in Nichols Hills.
      6616 N Western Ave, Oklahoma City, OK 73116
      View Details
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    6900 North May Ave
    Oklahoma City, OK 73116
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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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