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    Property profile & analytics

    706 Broadway Edmond, OK 73034-3935

    • Turn key restaurants
    • 2,386 SF
    • 0.69 lot acres
    OFF-MARKET
    Last Sale
    Jun 07, 2023
    $350,000
    Value Estimations
    $385,000
    Show details
    Cap Rate Potential
    Location Intelligence
    Property ID
    US69-0560359
    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

    • 777 Smoke Shop / Tobacco Shop
    • Zarate's Latin Mexican Grill / Latin American Restaurant / Mexican Restaurant
    • Tecate / Liquor Store

    Property Details for 706 Broadway

    Year built
    1965
    Construction
    CONCRETE BLOCKS
    Lot size
    0.69 lot acres
    Property size
    2,386 SF
    Property type
    Turn key restaurants
    APN
    18-337-2280
    APU
    183372280

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      Statistic approach
      $385,000
      ML approach
      $380,000

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $384,000
      Market price range: $385k - $992k

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

    Location Insight

    • Map
    • Local Demand
    City
    Edmond
    County
    Oklahoma
    State
    Oklahoma
    Longitude
    -97.4817
    Latitude
    35.6475
    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
    $3,171
    $13,700
    $16,724
    $30,424
    -
    $124,550
    $152,035
    $276,585

    Comparable in this City

    • Value Estimation
      $360,000
      7,588 SF

      1150 2nd St

      RESTAURANT • 7,588 SF
      1150 2nd St, Edmond, OK 73034-5315
      View Details
    • Value Estimation
      $425,000
      8,518 SF

      909 I 35th Frontage Rd

      RESTAURANT • 8,518 SF
      909 I 35th Frontage Rd, Edmond, OK 73034-7306
      View Details
    • Value Estimation
      $295,000
      1,360 SF

      801 Broadway

      RESTAURANT • 1,360 SF
      801 Broadway, Edmond, OK 73034-3938
      View Details
    • Value Estimation
      $2,160,000
      6,734 SF

      801 Danforth Rd

      RESTAURANT • 6,734 SF
      801 Danforth Rd, Edmond, OK 73034-5063
      View Details
    • Value Estimation
      $310,000
      5,942 SF

      1001 Danforth Rd

      RESTAURANT • 5,942 SF
      1001 Danforth Rd, Edmond, OK 73034-5502
      View Details
    • Value Estimation
      $300,000
      3,956 SF

      1220 2nd St

      RESTAURANT • 3,956 SF
      1220 2nd St, Edmond, OK 73034-5317
      View Details

    Similar Nearby for Sale

    • $4,675,000
      14,228 SF

      Edmond Retail Strip For Sale

      2019 construction retail strip in affluent Edmond, Oklahoma.
      1200 W Danforth Rd, Edmond, OK 73034
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    • $1,677,037
      2,400 SF

      Edmond Retail Property For Sale

      Retail property available for purchase in Edmond, Oklahoma.
      1132 S Bryant Ave, Edmond, OK 73034
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    • $4,568,571
      5,300 SF

      Retail Property in Edmond, OK

      Retail property available for sale in Edmond, Oklahoma.
      1140 S Bryant Ave, Edmond, OK 73034
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    • $1,100,000
      3,725 SF

      Edmond Car Wash & Land Investment

      High-value land, E-2 zoning, Edmond, OK.
      1401 Broadway Ave, Edmond, OK 73034
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    • $2,500,000
      4.69 Acres

      Edmond Corner Commercial Land

      Prime 4.69-acre development site.
      409 Covell Rd, Edmond, OK 73034
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    • $2,321,748
      5.33 Acres

      Edmond Commercial Land - 5.33 Acres

      Prime Edmond location, high visibility, E-2 zoning.
      of Coltrane and Covell Cor, Edmond, OK 73034
      View Details

    Similar Nearby for Lease

    • $7,850 /Mo
      3,626 SF

      Prime Downtown Edmond Corner Property

      Highly visible 3,626 sq ft retail/office space in vibrant Downtown Edmond.
      116 S Broadway Ave, Edmond, OK 73034
      View Details
    • $9,800 /Mo
      4,648 SF

      Unique Mixed-Use Market Hall Space

      Second-generation bar/restaurant space with large outdoor patio in Edmond.
      23 W 1St St, Edmond, OK 73034
      View Details
    • $16 SF/Yr
      1,500 SF

      Adaptable Space in High-Traffic Area

      Versatile space suitable for retail, office, or dining.
      2112-2136 E 2Nd St, Edmond, OK 73034
      View Details
    • $7,300,000
      1,200 SF

      Retail Space in Edmond, Oklahoma

      Retail space available in a busy Edmond shopping center.
      730-828 W Danforth Rd, Edmond, OK 73034
      View Details
    • $16 SF/Yr
      1,420 SF

      Retail Space in Growing Area

      Retail space with abundant parking in high-growth residential area.
      251 E Waterloo Rd, Edmond, OK 73034
      View Details
    • $17 SF/Yr
      38,020 SF

      Edmond Retail Space For Lease

      Prime Edmond retail, two spaces available.
      121 Waterloo Rd, Edmond, OK 73034
      View Details
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    706 Broadway
    Edmond, OK 73034-3935
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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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