7220 Western Ave Oklahoma City, OK 73139-2012
Property profile & analytics
7220 Western Ave Oklahoma City, OK 73139-2012
- Strip malls
- 16,080 SF
- 1.50 lot acres
Property ID
US69-2284682
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.
Location Intelligence
Current Use by Public Records
- Oklahoma Red Door Management / Real Estate Agency / Property Management Company
- Hoppis Real Estate Services, Inc. / Real Estate Agency
- Home Choice Property Management / Property Management Company
- La Cubanita / Food Market / Farmer's Market
- El Pollo Chulo / Restaurant
Property Details for 7220 Western Ave
- Year built
- 2017
- Construction
- MASONRY/CONCRETE MASONRY UNITS (CMUS)
- Lot size
- 1.50 lot acres
- Property size
- 16,080 SF
- Property type
- Strip malls
- Property subtype
- Shopping centers
- APN
- 10-240-0100
- APU
- 102400100
Description
This 16,080 square foot shopping center in Oklahoma City, OK presents a compelling value-add opportunity. Built in 2017, the property boasts 90% occupancy with eight tenants, including Oklahoma Red Door, Paint Beauty Lounge, and El Fogon de Edgar. Situated on a 65,520 square foot lot at 7220 S Western Ave, 73139, the center benefits from high visibility and accessibility, with 24,272 vehicles per day on South Western Avenue and over 107,700 vehicles per day on nearby Hwy 240. The asking price is $3,200,000, representing a price per square foot of $199, significantly below the estimated $371 per square foot replacement cost. The current net operating income (NOI) is $246,510, yielding a 7.7% cap rate, with a pro-forma NOI of $271,160 and a pro-forma cap rate of 8.47% achievable through lease-up of the 10% vacancy. Modified gross leases are in place. The property is zoned for retail use and includes 98 parking spaces. This investment offers strong potential for increased returns in a rapidly growing area of Oklahoma City, the 20th largest city in the US and 6th fastest growing among the top 20. The current average rent of $17.16 per square foot is below market rates.
Value Estimations
based on Realmo’s proprietary methodology
-
Comparable approach
- Method
- Estimation
- Statistic Estimate
- $2,413,000
Market price range: $854k - $2.89M -
Alternative Use
- Use
- Estimation
- NEIGHBORHOOD: SHOPPING CENTER
- $1,825,000 Current use
- MEDICAL BUILDING
- $2,510,000 Change: +38% Conversion: Difficult
- AUTO REPAIR, GARAGE
- $2,390,000 Change: +31% Conversion: Difficult
- COMMERCIAL (GENERAL)
- $2,275,000 Change: +25% Conversion: Easy
- OFFICE BUILDING
- $2,065,000 Change: +13% Conversion: Moderate
- RETAIL STORES
- $1,985,000 Change: +9% Conversion: Easy
Get a detailed, property-specific estimation — fast and free
Location Insight
- Map
- Local Demand
- City
- Oklahoma City
- County
- Oklahoma
- State
- Oklahoma
- Longitude
- -97.5293
- Latitude
- 35.394
- 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
$25,071
$50,844
$161,030
$211,874
-
$491,400
$1,556,349
$2,047,749
