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    7004 Olympia Ave Tulsa, OK 74132-1847
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    Property profile & analytics

    7004 Olympia Ave, Tulsa, OK 74132-1847

    View on Map
    • Hotels
    • 59,560 SF
    • 2.73 lot acres
    Off-Market
    Property ID
    US69-0570144
    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.
    Value Estimations
    $1,555,000
    Show details
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Hampton Inn & Suites Tulsa/Tulsa Hills / Hotel & Motel
    • bestwestern / Hotel & Motel
    • Tulsa Life Church / Church
    • Quality and NDT Solutions / Consultant
    • hampton inn tulsa south / Hotel & Motel

    Property Details for 7004 Olympia Ave

    Year built
    2009
    Construction
    STEEL FRAME
    Lot size
    2.73 lot acres
    Zone code
    CO
    Property type
    Hotels
    APN
    71515-82-02-06970
    APU
    71515820206970

    Sales History

    Date Price Buyer Seller Deed Type Mortgage
    Aug 18, 2016 — Sheridan Properties INC — Deed · related $6.2M · Security Nat'l Bk/enid
    Sep 11, 2014 — Sheridan Properties INC — Trustees Deed · related $6.2M · Security Nat'l Bk/enid
    Jun 2, 2014 — Sheridan Properties INC — Deed Of Trust · related $6.2M · Security Nat'l Bk/enid
    Nov 7, 2013 $840,000 Sheridan Properties INC Olympia Land Dev LLC Grant Deed $600k · Patriot Bank NA
    Mar 30, 2009 — Sheridan Properties INC American Motel Investors INC Warranty Deed · related —
    Nov 14, 2007 $620,000 American Motel Investors INC Shadow LLC Grant Deed —
    — — Sheridan Properties INC — Loan Modification · related $6.2M · Security Nat'l Bk/enid

    Value Estimations

    based on Realmo’s proprietary methodology

    • Comparable approach

      Method
      Estimation
      AI Estimate
      $1,615,000
      Market price range: $625k - $2.72M

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

    Location Insight

    • Map
    • Local Demand
    City
    Tulsa
    County
    Tulsa
    State
    Oklahoma
    Longitude
    -96.0053
    Latitude
    36.0628
    CBSA code
    46140
    CBSA name
    TULSA, 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
    $57,385
    $92,178
    $323,622
    $415,800
    -
    $949,800
    $3,334,600
    $4,284,400

    Comparable in this City

    • Value Estimation
      $1,355,000
      52,505 SF

      6910 Olympia Ave

      HOTEL
      6910 Olympia Ave, Tulsa, OK 74132-1842
      View Details
    • Value Estimation
      $1,815,000
      70,629 SF

      1521 80th St

      HOTEL
      1521 80th St, Tulsa, OK 74132-3045
      View Details
    • Value Estimation by Request
      0.81 Acres

      6101 33 Ave

      Land
      6101 33 Ave, Tulsa, OK 74132
      View Details
    • Value Estimation by Request
      4.96 Acres

      81 81St St

      Specialty properties
      81 81St St, Tulsa, OK 74132
      View Details
    • Value Estimation by Request
      21.38 Acres

      Jackson W Ave

      VACANT COMMERCIAL LAND
      Jackson W Ave, Tulsa, OK 74132
      View Details
    • Value Estimation by Request
      0.28 Acres

      890 81st St

      VACANT COMMERCIAL LAND
      890 81st St, Tulsa, OK 74132-2715
      View Details

    Similar Nearby for Sale

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      Retail Property on Union Avenue

      Retail property for sale located on South Union Avenue.
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    • $1,500,000
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      7.5 Acre Mixed-Use Property

      7.5 acres with commercial and agricultural zoning in Tulsa.
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    • $195,000
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      Residential Land in Jenks School

      1.3 acre corner lot in the Jenks School District.
      8550 S 33Rd West Ave, Tulsa, OK 74132
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    • $845,000
      1.44 Acres

      Prime Commercial Land Near Highway

      1.44-acre commercial land with high visibility and easy access.
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    Similar Nearby for Lease

    • Contact for pricing
      5,200 SF

      Retail Center in Tulsa County

      46,265 SF center with large parking field.
      6161 S 33 Ave W, Tulsa, OK 74132
      View Details
    • Contact for pricing
      14,700 SF

      Modern Office Space Available

      Six-story office building with modern amenities and ample parking.
      8200 S Unit Dr, Tulsa, OK 74132
      View Details
    • Contact for pricing

      Retail Space Available For Lease

      5,340 SF of retail space available for lease.
      West 71 & Elmwood Ave, Tulsa, OK 74132
      View Details
    • Contact for pricing

      West Tulsa Shopping Plaza Space

      Neighborhood center with retail, restaurant, and office space available.
      6161 S 33 Ave W, Tulsa, OK 74132
      View Details
    • Contact for pricing

      Modern Medical Office Space

      Multi-tenant medical office campus in southwest Tulsa.
      6802 S Olympia Ave, Tulsa, OK 74132
      View Details

    Property Visit Statistics

    • Visits by month
      6.6k
    • Visitors by month
      3.1k
    • Avg Time on site
      331 min
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    Tulsa, OK 74132-1847
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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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