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    8882 Garnett Rd Owasso, OK 74055-4602
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    Property profile & analytics

    8882 Garnett Rd, Owasso, OK 74055-4602

    View on Map
    • Hotels
    • 54,123 SF
    • 1.85 lot acres
    Off-Market
    Last Sale Aug 7, 2024
    $11,500,000
    Property ID
    US69-2164836
    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
    $11,500,000
    Show details
    Cap Rate Potential
    2.9%
    Hotels
    Location Intelligence

    Current Use by Public Records

    • Home2 Suites by Hilton Owasso / Hotel & Motel

    Property Details for 8882 Garnett Rd

    Year built
    2019
    Construction
    WOOD FRAME
    Lot size
    1.85 lot acres
    Zone code
    CG
    Property type
    Hotels
    APN
    61024-14-19-57210
    APU
    61024141957210

    Sales History

    Date Price Buyer Seller Deed Type Mortgage
    Jan 13, 2025 — Bryan Owasso Hotel LLC — Deed · related $300k · First Bank Of Owasso
    Aug 30, 2024 — Bryan Owasso Hotel LLC — Deed · related $11.7M · First Bank Of Owasso
    Aug 7, 2024 $11,500,000 Bryan Owasso Hotel LLC Tulho LLC Special Warranty Deed $11.6M · First Bank Of Owasso
    Aug 3, 2023 — Tulho LLC — Deed · related $6M · Sheridan Properties LLC
    Jul 5, 2023 — Tulho LLC — Deed · related $6M · First Bank Of Owasso
    Jan 23, 2019 — Tulho LLC — Deed · related $550k · Equity Bank

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      Statistic approach
      $11,500,000
      ML approach
      $11,500,000

    • Alternative Use

      Use
      Estimation
      RESTAURANT
      $14,250,000
      MEDICAL BUILDING
      $9,995,000
      AUTO REPAIR, GARAGE
      $9,490,000
      COMMERCIAL (GENERAL)
      $8,300,000

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

    Location Insight

    • Map
    • Local Demand
    City
    Owasso
    County
    Tulsa
    State
    Oklahoma
    Longitude
    -95.8493
    Latitude
    36.2809
    CBSA code
    46140
    CBSA name
    TULSA, 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
    $55,167
    $113,850
    $391,017
    $504,867
    -
    $1,035,000
    $3,554,700
    $4,589,700

    Comparable in this City

    • Value Estimation
      $3,230,000
      33,675 SF

      7551 Owasso Expy

      HOTEL
      7551 Owasso Expy, Owasso, OK 74055-3624
      View Details
    • Value Estimation
      $3,810,000
      66,474 SF

      9009 121st E Ave

      HOTEL
      9009 121st E Ave, Owasso, OK 74055-5301
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    • Value Estimation
      $2,555,000
      43,534 SF

      8949 Garnett Rd

      HOTEL
      8949 Garnett Rd, Owasso, OK 74055-4603
      View Details
    • Value Estimation
      $3,100,000
      48,614 SF

      9321 Owasso Expy

      HOTEL
      9321 Owasso Expy, Owasso, OK 74055-5454
      View Details
    • Value Estimation
      $1,700,000
      26,000 SF

      11604 76th N St

      MOTEL
      11604 76th N St, Owasso, OK 74055-3636
      View Details
    • Value Estimation
      $2,815,000
      45,050 SF

      11699 96th N St

      MOTEL
      11699 96th N St, Owasso, OK 74055-5446
      View Details

    Similar Nearby for Sale

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      Land Available in Owasso, OK

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      Land Available in Owasso, OK

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      Land For Sale Owasso, OK

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      Highway Frontage Mixed-Use Building

      New mixed-use building with highway frontage, expansion potential.
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      View Details
    • $490,000

      Commercial Land Near Retail Corridor

      Strategically located commercial land parcel near thriving retail area.
      9930 North Garnett Rd, Owasso, OK 74055
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    Similar Nearby for Lease

    • Contact for pricing
      6,331 SF

      Retail Space in Owasso Power Center

      Retail spaces available in a high-traffic, anchored power center.
      9002 N 121 Ave E, Owasso, OK 74055
      View Details
    • $10 SF/Yr

      New Industrial Space in Owasso

      New construction Class A industrial building with office space.
      10220 E 75Th St North, Owasso, OK 74055
      View Details
    • Contact for pricing

      Retail Space in Growing Owasso

      Inline retail space with high visibility and ample parking.
      11215 N Garnett Rd, Owasso, OK 74055
      View Details
    • $11 SF/Yr
      7,625 SF

      Owasso Warehouse Space Available

      7,625 square foot warehouse space for lease in Owasso.
      7475 North 104Th East Ave, Owasso, OK 74055
      View Details
    • Contact for pricing
      2,250 SF

      Office Space in Owasso

      Office space available for lease in Owasso, Oklahoma.
      7744 N Owasso Expy, Owasso, OK 74055
      View Details
    • $10 SF/Yr

      New Industrial Space in Owasso

      New construction industrial building with office space for lease.
      10264 E 75Th St North, Owasso, OK 74055
      View Details
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    Owasso, OK 74055-4602
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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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