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    Property profile & analytics

    701 Aspen Ave Broken Arrow, OK 74012-2224

    • Strip malls
    • 58,525 SF
    • 6.17 lot acres
    OFF-MARKET
    Value Estimations
    $4,240,000
    Show details
    Cap Rate Potential
    Location Intelligence
    Property ID
    US69-0503762
    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

    • Little Caesars Pizza / Restaurant

    Property Details for 701 Aspen Ave

    Year built
    1984
    Construction
    WOOD FRAME
    Lot size
    6.17 lot acres
    Property size
    58,525 SF
    Zone code
    CG
    Property type
    Strip malls
    Property subtype
    Shopping centers
    APN
    79340-84-10-30970
    APU
    79340841030970

    Value Estimations

    based on Realmo’s proprietary methodology

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $4,439,000
      Market price range: $2.56M - $6.40M

    • Alternative Use

      Use
      Estimation
      NEIGHBORHOOD: SHOPPING CENTER
      $4,195,000
      Current use
      OFFICE BUILDING
      $6,705,000
      Change: +60% Conversion: Moderate
      WAREHOUSE, STORAGE
      $3,955,000
      Change: -6% Conversion: Difficult

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

    Location Insight

    • Map
    • Local Demand
    City
    Broken Arrow
    County
    Tulsa
    State
    Oklahoma
    Longitude
    -95.814
    Latitude
    36.06
    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
    $74,599
    $220,440
    $350,328
    $570,768
    -
    $2,004,000
    $3,184,800
    $5,188,800

    Comparable in this City

    • Value Estimation by Request
      10,833 SF

      507 Main St

      SHOPPING CENTER, STRIP CENTER • 10,833 SF
      507 Main St, Broken Arrow, OK 74012-2622
      View Details
    • Value Estimation
      $860,000
      32,280 SF

      1024 Elm Pl

      SHOPPING CENTER, STRIP CENTER • 32,280 SF
      1024 Elm Pl, Broken Arrow, OK 74012-1603
      View Details
    • Value Estimation
      $555,000
      5,964 SF

      2050 Kenosha St

      SHOPPING CENTER, STRIP CENTER • 5,964 SF
      2050 Kenosha St, Broken Arrow, OK 74012-8946
      View Details
    • Value Estimation by Request
      17,080 SF

      1821 Aspen Ave

      SHOPPING CENTER, STRIP CENTER • 17,080 SF
      1821 Aspen Ave, Broken Arrow, OK 74012-5104
      View Details
    • Value Estimation
      $1,120,000
      13,585 SF

      6122 Garnett Rd

      SHOPPING CENTER, STRIP CENTER • 13,585 SF
      6122 Garnett Rd, Broken Arrow, OK 74012-1217
      View Details
    • Value Estimation
      $765,000
      29,162 SF

      2001 Houston St

      SHOPPING CENTER, STRIP CENTER • 29,162 SF
      2001 Houston St, Broken Arrow, OK 74012-8304
      View Details

    Similar Nearby for Sale

    • $3,450,000
      5,990 SF

      Ted's Cantina: Broken Arrow, OK

      Restaurant NNN Lease Investment, 6.09% Cap Rate
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      6,530 SF

      Freestanding Restaurant with Ample Parking

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      New 5,990 SF restaurant property in Broken Arrow, Oklahoma.
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      2,000 SF

      Broken Arrow Bank Branch For Sale

      Recently built bank branch in Broken Arrow, Oklahoma.
      2303 N Elm Pl, Broken Arrow, OK 74012
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    • $1,200,000
      2,000 SF

      2303 Elm Pl

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    • Contact for pricing
      18,900 SF

      Broken Arrow Retail Investment Opportunity

      NNN lease with corporate guaranty and rent increases.
      4777 E Kenosha St, Broken Arrow, OK 74012
      View Details

    Similar Nearby for Lease

    • $28 SF/Yr
      5,200 SF

      Retail Space in Broken Arrow

      Retail space for lease with high-traffic location and co-tenants.
      854 East Hillside Dr, Broken Arrow, OK 74012
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    • Contact for pricing
      1,000 SF

      Retail Space Near Broken Arrow

      Retail space with high visibility near Broken Arrow Expressway.
      1208 E Kenosha St, Broken Arrow, OK 74012
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    • $37 SF/Yr
      13,284 SF

      Adams Creek Retail Center

      Broken Arrow, OK retail spaces available
      Broken Arrow OK 23Rd St, Broken Arrow, OK 74012
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    • Contact for pricing
      1,642 SF

      Retail Space with Drive-Thru

      Retail space available with drive-thru, delivery January 2025.
      1810-1822 S Aspen Ave, Broken Arrow, OK 74012
      View Details
    • $19 SF/Yr

      Retail Space For Lease

      Retail spaces available in Broken Arrow, Oklahoma shopping center.
      4650 West Kenosha, Broken Arrow, OK 74012
      View Details
    • $23 SF/Yr
      1,358 SF

      Retail Space in Broken Arrow

      Retail space with high ceilings in established Broken Arrow area.
      1122-1134 N 9Th St, Broken Arrow, OK 74012
      View Details
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    701 Aspen Ave
    Broken Arrow, OK 74012-2224
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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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