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    Property profile & analytics

    715 NE 122nd | Oklahoma City, OK 73114 Oklahoma City, OK 73114

    • Commercial real estate
    • 65,620 SF
    • 4.49 lot acres
    For Lease
    View listing
    $19 SF/Yr
    Last Sale
    Feb 29, 2024
    Value Estimations
    Cap Rate Potential
    Location Intelligence
    Property ID
    US69-1040111
    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

    • Cox Media Oklahoma City / Advertising Agency / Marketing & Advertising

    Property Details for 715 NE 122nd | Oklahoma City, OK 73114

    Year built
    2017
    Lot size
    4.49 lot acres
    Property size
    65,620 SF
    Property type
    Commercial real estate
    APN
    20-798-1160
    APU
    207981160

    Description

    This exceptional Class A office building in Oklahoma City offers 66,000 square feet of prime executive office space, with 28,543 square feet currently available for lease. Located at 715 NE 122nd, zip code 73114, in Oklahoma County, this multi-tenant building boasts a modern design featuring architectural tilt wall construction, classic window shade awnings, and contemporary glass accents. The building is designed for flexible office use and includes high-end finishes such as granite countertops, 2x2 tegular ceiling tiles, and a choice of broadloom carpet, ceramic, or slate tile flooring. Ceiling heights are a generous 10 feet. Energy efficiency is a key feature, with above-code insulation in the roof and walls, and a geothermal HVAC system for heating and cooling. Additional amenities include LED lighting, enhanced security features, dedicated conference rooms, and window coverings. The building provides ample parking with a ratio of 5.2 spaces per 1,000 square feet. Available spaces range from 6,850 to 28,543 square feet, making it suitable for businesses of various sizes. This property presents a unique opportunity to secure prestigious office space in a highly desirable Oklahoma City location.

    Value Estimations

    based on Realmo’s proprietary methodology

    • CAP approach

      CAP Return
      Estimation
      6%
      $15,095,000
      6.5%
      $13,930,000
      7%
      $12,935,000

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $9,778,000
      Market price range: $4.44M - $17.1M
      AI Estimate
      $6,337,000
      Market price range: $2.76M - $10.8M

    • Alternative Use

      Use
      Estimation
      COMMERCIAL (GENERAL)
      $11,000,000
      Current use
      MEDICAL BUILDING
      $10,245,000
      Change: -7% Conversion: Easy
      AUTO REPAIR, GARAGE
      $9,755,000
      Change: -11% Conversion: Difficult

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

    Location Insight

    • Map
    • Local Demand
    City
    Oklahoma City
    County
    Oklahoma
    State
    Oklahoma
    Longitude
    -97.5071
    Latitude
    35.5947
    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
    $79,229
    $50,461
    $594,623
    $645,084
    -
    $531,494
    $6,263,010
    $6,794,504

    Comparable in this City

    • Value Estimation by Request
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    • Value Estimation by Request
      0.32 Acres

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      COMMERCIAL (GENERAL) • 0.32 Acres
      1345 Britton Rd, Oklahoma City, OK 73114
      View Details

    Similar Nearby for Sale

    • Contact for pricing

      Oklahoma City Commercial Land

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      4.42 Acres

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      96,422 SF

      St. Anthony North Healthplex

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      Pending

      Residential Lot in Oklahoma City

      Build-ready lot with utilities in a growing Oklahoma City neighborhood.
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      Hefner Road Auto Repair Shop

      Oklahoma City investment opportunity: 5,040 SF auto repair shop.
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    Similar Nearby for Lease

    • $10 SF/Yr
      12,652 SF

      Oklahoma City Retail Property Investment

      Two buildings, 12,652 SF, sale or lease.
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      Outdoor shopping center with diverse retailers and ample parking.
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      12,000 SF

      Commercial Land For Lease

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    • $12 SF/Yr
      5,000 SF

      5,000 SF Warehouse Available

      5,000 SF warehouse with I-2 zoning for lease.
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      View Details
    • $3,950 /Mo
      2,824 SF

      Industrial Space with Drive-Thru Doors

      2,824 SF industrial space featuring drive-thru doors and fenced yard.
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    • Contact for pricing
      28,298 SF

      28,298 SF Warehouse Available

      28,298 SF warehouse for lease at $10.00/SF.
      13241 Broadway Ext, Oklahoma City, OK 73114
      View Details
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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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