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    The Largest CRE Database in the US with Over 1 Million Listings
    Property profile & analytics

    7221 Reno Ave Midwest City, OK 73110-4446

    • Medical offices
    • 5,786 SF
    • 0.74 lot acres
    OFF-MARKET
    Last Sale
    Sep 26, 2023
    $1,217,500
    Value Estimations
    $1,275,000
    Show details
    Cap Rate Potential
    6.2%
    Medical offices
    Location Intelligence
    Property ID
    US69-2369732
    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

    • Medical offices

    Property Details for 7221 Reno Ave

    Year built
    1964
    Construction
    BRICK
    Lot size
    0.74 lot acres
    Property size
    5,786 SF
    Property type
    Medical offices
    Property subtype
    Medical centers
    APN
    15-026-1368
    APU
    150261368

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      Statistic approach
      $1,325,000
      ML approach
      $1,315,000

    • CAP approach

      CAP Return
      Estimation
      6%
      $1,365,000
      6.5%
      $1,260,000
      7%
      $1,170,000

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $1,325,000
      Market price range: $485k - $1.46M

    • Alternative Use

      Use
      Estimation
      MEDICAL BUILDING
      $905,000
      Current use
      RESTAURANT
      $1,650,000
      Change: +83% Conversion: Difficult
      AUTO REPAIR, GARAGE
      $860,000
      Change: -5% Conversion: Difficult

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

    Location Insight

    • Map
    • Local Demand
    City
    Midwest City
    County
    Oklahoma
    State
    Oklahoma
    Longitude
    -97.4018
    Latitude
    35.4646
    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
    $13,646
    $13,647
    $102,279
    $115,926
    -
    $124,740
    $934,841
    $1,059,581

    Comparable in this City

    • Value Estimation
      $2,055,000
      4,000 SF

      7617 Reno Ave

      MEDICAL BUILDING • 4,000 SF
      7617 Reno Ave, Midwest City, OK 73110-4317
      View Details
    • Value Estimation
      $2,780,000
      6,996 SF

      901 Air Depot Blvd

      MEDICAL BUILDING • 6,996 SF
      901 Air Depot Blvd, Midwest City, OK 73110-4836
      View Details
    • Value Estimation by Request
      4,297 SF

      801 Air Depot Blvd

      MEDICAL BUILDING • 4,297 SF
      801 Air Depot Blvd, Midwest City, OK 73110-3760
      View Details
    • Value Estimation by Request
      6,516 SF

      215 Midwest Blvd

      MEDICAL BUILDING • 6,516 SF
      215 Midwest Blvd, Midwest City, OK 73110-4320
      View Details
    • Value Estimation by Request
      2,841 SF

      6907 Boeing Dr

      MEDICAL BUILDING • 2,841 SF
      6907 Boeing Dr, Midwest City, OK 73110-3011
      View Details
    • Value Estimation
      $3,040,000
      24,638 SF

      600 National Ave

      MEDICAL BUILDING • 24,638 SF
      600 National Ave, Midwest City, OK 73110-4208
      View Details

    Similar Nearby for Sale

    • $4,875,000
      32,499 SF

      Birthing Center Near Saint Anthony

      Birthing center with 12 suites, surgical and delivery rooms.
      238 N Midwest Blvd, Midwest City, OK 73110
      View Details
    • $325,000
      2,456 SF

      Midwest City Medical Office

      2,456 SF Medical Office - $325K
      8811 Reno Ave, Midwest City, OK 73110
      View Details
    • $1,975,000
      24,253 SF

      Class A Office Space

      Class A office space featuring multiple exam and procedure rooms.
      600 National Ave, Midwest City, OK 73110
      View Details
    • $1,495,000
      18,238 SF

      Medical Office Building For Sale

      Fully built-out medical office near SSM Health St. Anthony Hospital.
      230 N Midwest Blvd, Midwest City, OK 73110
      View Details
    • $490,000
      4,238 SF

      Versatile Commercial Suite in Oklahoma City

      Office/medical/flex space available for purchase, lease, or lease-to-own.
      1212 S Air Depot Blvd, Oklahoma City, OK 73110
      View Details
    • Contact for pricing

      Versatile Commercial Property in Midwest

      Commercial property with functional layout, versatile space, and ample parking.
      2017 S Air Depot Blvd, Midwest City, OK 73110
      View Details

    Similar Nearby for Lease

    • $12 SF/Yr
      75,071 SF

      Heritage Plaza Office Suites

      Midwest City, OK Office Space Available
      351 Air Depot Blvd, Midwest City, OK 73110
      View Details
    • $10 SF/Yr
      1,612 SF

      Retail and Office Space Available

      Retail and office center in Midwest City for lease.
      8855 E Reno Ave, Oklahoma City, OK 73110
      View Details
    • $10 SF/Yr
      8,549 SF

      Midwest City Office Space Available

      Versatile Office Space, 3802 sq ft Available
      2017 Air Depot Blvd, Midwest City, OK 73110
      View Details
    • $325,000
      2,456 SF

      Former Dental Space For Rent

      Former dental space available for lease in Oklahoma City.
      8811 E Reno Ave, Oklahoma City, OK 73110
      View Details
    • $16 SF/Yr
      3,007 SF

      Renovated Office Space For Rent

      Recently renovated office space with modernized amenities in prime location.
      2801 Parklawn Dr, Midwest City, OK 73110
      View Details
    • $10 SF/Yr
      3,802 SF

      Functional Midwest City Office Space

      Versatile commercial property with functional layout and ample parking.
      2017 S Air Depot Blvd, Oklahoma City, OK 73110
      View Details
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    Midwest City, OK 73110-4446
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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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