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

    7001 Reno Ave Midwest City, OK 73110-4442

    • Turn key restaurants
    • 1,056 SF
    • 1.03 lot acres
    OFF-MARKET
    Last Sale
    Feb 25, 2021
    $800,000
    Value Estimations
    $795,000
    Show details
    Cap Rate Potential
    Location Intelligence
    Property ID
    US69-2430819
    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

    • Turn key restaurants

    Property Details for 7001 Reno Ave

    Year built
    1986
    Construction
    WOOD FRAME
    Lot size
    1.03 lot acres
    Property size
    1,056 SF
    Property type
    Turn key restaurants
    APN
    15-040-6020
    APU
    150406020

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      Statistic approach
      $795,000
      ML approach
      $775,000

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $489,000
      Market price range: $121k - $489k

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

    Location Insight

    • Map
    • Local Demand
    City
    Midwest City
    County
    Oklahoma
    State
    Oklahoma
    Longitude
    -97.4059
    Latitude
    35.4644
    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
    $8,880
    $24,750
    $50,686
    $75,436
    -
    $225,000
    $460,790
    $685,790

    Comparable in this City

    • Value Estimation by Request
      460 SF

      1301 Midwest Blvd

      RESTAURANT • 460 SF
      1301 Midwest Blvd, Midwest City, OK 73110-4704
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    • Value Estimation by Request
      1,172 SF

      8409 10th St

      RESTAURANT • 1,172 SF
      8409 10th St, Midwest City, OK 73110-7173
      View Details
    • Value Estimation by Request
      5,639 SF

      6905 29th St

      RESTAURANT • 5,639 SF
      6905 29th St, Midwest City, OK 73110-3004
      View Details
    • Value Estimation
      $2,320,000
      4,848 SF

      608 Air Depot Blvd

      RESTAURANT • 4,848 SF
      608 Air Depot Blvd, Midwest City, OK 73110-4461
      View Details
    • Value Estimation by Request
      3,799 SF

      1009 Air Depot Blvd

      RESTAURANT • 3,799 SF
      1009 Air Depot Blvd, Midwest City, OK 73110-4803
      View Details
    • Value Estimation by Request
      2,182 SF

      409 Air Depot Blvd

      RESTAURANT • 2,182 SF
      409 Air Depot Blvd, Midwest City, OK 73110-4434
      View Details

    Similar Nearby for Sale

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      Restaurant Space Near Tinker AFB

      Restaurant space with drive-thru near Tinker Air Force Base.
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      Newly-Renovated Restaurant For Sale

      Restaurant property for sale with zero landlord responsibilities.
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      Midwest City Restaurant - For Sale

      Free-standing restaurant, high traffic area. Excellent investment.
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    • $4,330,000
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      Sooner Rose III Shopping Center

      Midwest City Retail Investment Opportunity
      6003 15Th St, Midwest City, OK 73110
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      Gateway Plaza Retail Opportunity

      Well-maintained shopping center with national and local tenants.
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      Turnkey Car Wash For Sale

      Operating car wash with equipment included, located in Midwest City.
      208 S Air Depot Blvd, Oklahoma City, OK 73110
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    Similar Nearby for Lease

    • $12 SF/Yr
      75,071 SF

      Heritage Plaza Office Suites

      Midwest City, OK Office Space Available
      351 Air Depot Blvd, Midwest City, OK 73110
      View Details
    • $540,000
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      Freestanding Building with Drive Thru

      Freestanding building with drive-thru available for sale or lease.
      904 S Air Depot Blvd, Oklahoma City, OK 73110
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    • $18 SF/Yr
      1,200 SF

      Retail Space with Drive-Thru

      Retail spaces available, one with drive-thru, ample parking.
      1017 S Air Depot Blvd, Midwest City, OK 73110
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    • $14 SF/Yr
      1,410 SF

      Retail Space with Grease Trap

      Retail space available for rent with existing grease trap.
      7450 E Reno Ave, Oklahoma City, OK 73110
      View Details
    • $15 SF/Yr
      4,988 SF

      Retail Space Near Rose State

      Retail property with ample parking and frontage along Air Depot.
      1800 South Air Depot Blvd, Midwest City, OK 73110
      View Details
    • $5,417 /Mo
      2,171 SF

      Retail Space with Drive Thru

      2,171 SF retail space with drive-thru and national co-tenants.
      1420 S Air Depot Blvd, Oklahoma City, OK 73110
      View Details
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    Midwest City, OK 73110-4442
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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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