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    7023 Classen Blvd Oklahoma City, OK 73116-7211
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    Property profile & analytics

    7023 Classen Blvd Oklahoma City, OK 73116-7211

    View on Map
    • Commercial real estate
    • 4,115 SF
    • 0.40 lot acres
    Off-Market
    Property ID
    US69-2154476
    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
    $830,000
    Show details
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Enable Insurance / Insurance Agency
    • Saints Energy, L.l.c. / Oil & Natural Gas Company
    • Bird Point Energy / Oil & Natural Gas Company
    • Jacobson Gannaway PLLC / Law Firm

    Property Details for 7023 Classen Blvd

    Year built
    2018
    Lot size
    0.40 lot acres
    Property size
    4,115 SF
    Property type
    Commercial real estate
    APN
    07-385-2990
    APU
    73852990

    Value Estimations

    based on Realmo’s proprietary methodology

    • CAP approach

      CAP Return
      Estimation
      6%
      $945,000
      6.5%
      $875,000
      7%
      $810,000

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $835,000
      Market price range: $441k - $917k
      AI Estimate
      $775,000
      Market price range: $228k - $955k

    • Alternative Use

      Use
      Estimation
      COMMERCIAL (GENERAL)
      $615,000
      Current use
      MEDICAL BUILDING
      $640,000
      Change: +5% Conversion: Easy
      AUTO REPAIR, GARAGE
      $610,000
      Change: -0% Conversion: Difficult
      OFFICE BUILDING
      $530,000
      Change: -14% Conversion: Easy
      RETAIL STORES
      $510,000
      Change: -17% Conversion: Easy

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

    Location Insight

    • Map
    • Local Demand
    City
    Oklahoma City
    County
    Oklahoma
    State
    Oklahoma
    Longitude
    -97.5274
    Latitude
    35.5429
    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
    $8,101
    $18,768
    $47,189
    $65,957
    -
    $170,625
    $428,986
    $599,611

    Comparable in this City

    • Value Estimation
      $3,035,000
      27,602 SF

      7301 Broadway Ext

      COMMERCIAL (GENERAL) • 27,602 SF
      7301 Broadway Ext, Oklahoma City, OK 73116-9045
      View Details
    • Value Estimation by Request
      431 SF

      7100 Classen Blvd

      COMMERCIAL (GENERAL) • 431 SF
      7100 Classen Blvd, Oklahoma City, OK 73116-7151
      View Details
    • Value Estimation by Request
      452 SF

      7100 Classen Blvd

      COMMERCIAL (GENERAL) • 452 SF
      7100 Classen Blvd, Oklahoma City, OK 73116-7151
      View Details
    • Value Estimation by Request
      437 SF

      7100 Classen Blvd

      COMMERCIAL (GENERAL) • 437 SF
      7100 Classen Blvd, Oklahoma City, OK 73116-7151
      View Details
    • Value Estimation by Request
      1,046 SF

      3009 63rd St

      COMMERCIAL (GENERAL) • 1,046 SF
      3009 63rd St, Oklahoma City, OK 73116-3604
      View Details
    • Value Estimation
      $1,355,000
      7,000 SF

      801 63rd St

      COMMERCIAL (GENERAL) • 7,000 SF
      801 63rd St, Oklahoma City, OK 73116-7628
      View Details

    Similar Nearby for Sale

    • $1,450,000
      14,976 SF

      Edgewater Office Park: Two Buildings

      Oklahoma City Executive Office Complex
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      26-Acre Mixed-Use Development

      Mixed-use development with office sites available for sale.
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      6,035 SF

      Restaurant with Large Parking Lot

      Single tenant restaurant with ample parking in Nichols Hills.
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      Oklahoma City Land For Sale

      Land available for sale in Oklahoma City, Oklahoma.
      2220 NE 63Rd St, Oklahoma City, OK 73116
      View Details
    • $3,250,000

      Developable Land in Nichols Hills

      1.3 acre of developable land in Nichols Hills.
      6401 N Pennsylvania Ave, Nichols Hills, OK 73116
      View Details
    • $395,000
      0.33 Acres

      Buildable Lot in Oklahoma City

      0.33-acre cleared lot ready for your dream home.
      806 NW 66Th St, Oklahoma City, OK 73116
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    Similar Nearby for Lease

    • Contact for pricing

      Nichols Hills Commercial Space Available

      Commercial space for lease in the heart of Nichols Hills.
      1000 W Wilshire Blvd, Nichols Hills, OK 73116
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      Retail Space at High-Traffic Intersection

      Starbucks-anchored neighborhood center with high visibility and traffic.
      7550 N May Ave, Oklahoma City, OK 73116
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      Office Complex with Central Courtyard

      Office complex featuring flexible lease options and a central courtyard.
      425 W Wilshire Blvd, Oklahoma City, OK 73116
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    • $28 SF/Yr
      547 SF

      Office Space For Rent

      Office spaces available, conveniently located near major highways.
      6421 Avondale Dr, Oklahoma City, OK 73116
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    • Contact for pricing
      3,458 SF

      Lakepointe Towers Office Space Available

      Northwest submarket office space with recent renovations and ample parking.
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      View Details
    • Contact for pricing
      775 SF

      Office Space on N Meridian

      Office space for lease with high traffic exposure.
      6600 N Meridian Ave, Oklahoma City, OK 73116
      View Details
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    7023 Classen Blvd
    Oklahoma City, OK 73116-7211
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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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