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

    9240 Reno Ave Midwest City, OK 73130-3330

    • Assisted living facilities
    • 40,407 SF
    • 6.02 lot acres
    OFF-MARKET
    Value Estimations
    $2,920,000
    Show details
    Cap Rate Potential
    Location Intelligence
    Property ID
    US69-0723980
    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

    • Assisted living facilities

    Property Details for 9240 Reno Ave

    Year built
    2003
    Construction
    WOOD FRAME
    Lot size
    6.02 lot acres
    Property size
    40,407 SF
    Property type
    Assisted living facilities
    Property subtype
    Retirement homes
    APN
    20-405-1020
    APU
    204051020

    Value Estimations

    based on Realmo’s proprietary methodology

    • Comparable approach

      Method
      Estimation
      AI Estimate
      $2,517,000
      Market price range: $647k - $3.64M

    • Alternative Use

      Use
      Estimation
      HOMES (RETIRED, HANDICAP, REST, CONVALESCENT, NURSING)
      $4,235,000
      Current use
      NEIGHBORHOOD: SHOPPING CENTER
      $4,580,000
      Change: +8% Conversion: Difficult

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

    Location Insight

    • Map
    • Local Demand
    City
    Midwest City
    County
    Oklahoma
    State
    Oklahoma
    Longitude
    -97.3653
    Latitude
    35.4628
    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
    $63,478
    $108,170
    $431,102
    $539,272
    -
    $983,366
    $3,919,114
    $4,902,480

    Comparable in this City

    • Value Estimation
      $3,955,000
      51,352 SF

      9221 Harmony Dr

      HOMES (RETIRED, NURSING) • 51,352 SF
      9221 Harmony Dr, Midwest City, OK 73130-6255
      View Details
    • Value Estimation
      $2,270,000
      57,029 SF

      11510 15th St

      HOMES (RETIRED, NURSING) • 57,029 SF
      11510 15th St, Midwest City, OK 73130-7803
      View Details
    • Value Estimation by Request
      3,489 SF

      1625 Midtown Pl

      MEDICAL BUILDING • 3,489 SF
      1625 Midtown Pl, Midwest City, OK 73130-6348
      View Details
    • Value Estimation
      $660,000
      4,069 SF

      1471 Post Rd

      MEDICAL BUILDING • 4,069 SF
      1471 Post Rd, Midwest City, OK 73130-5607
      View Details
    • Value Estimation by Request
      3,005 SF

      2300 Douglas Blvd

      MEDICAL BUILDING • 3,005 SF
      2300 Douglas Blvd, Midwest City, OK 73130-7114
      View Details
    • Value Estimation by Request
      1,580 SF

      1382 Douglas Blvd

      MEDICAL BUILDING • 1,580 SF
      1382 Douglas Blvd, Midwest City, OK 73130-5215
      View Details

    Similar Nearby for Sale

    • $4,280,591
      21,936 SF

      Midwest City Medical Office Building

      Vacant, 21,936 SF Medical Office, NNN Lease
      1001 Douglas Blvd, Midwest City, OK 73130
      View Details
    • $5,347,603
      29,318 SF

      Oklahoma City Multi-Tenant Portfolio

      Three B-Class office buildings, vacant, high visibility.
      1117 Douglas Blvd, Oklahoma City, OK 73130
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    • $6,767,000
      37,988 SF

      Midwest City Medical Office Building

      Prime Medical/Office Space, Excellent Location
      1201 Douglas Blvd, Midwest City, OK 73130
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    • $2,200,000
      10,200 SF

      Versatile Commercial Building on Reno Avenue

      10,200 SF commercial building suited for medical, wellness, or office.
      9309 E Reno Ave, Midwest City, OK 73130
      View Details
    • $69,900
      0.10 Acres

      Residential Lot in Gated Community

      Residential lot in a gated community near schools and Tinker AFB.
      9227 Joan Dr, Midwest City, OK 73130
      View Details
    • $5,300,000
      35,597 SF

      Midwest City Retail Center Investment

      High-yield retail property near Tinker AFB.
      101 N. Douglas Boulevard, Midwest City, OK 73130
      View Details

    Similar Nearby for Lease

    • $12 SF/Yr
      12,400 SF

      Midwest City Office Building For Sale/Lease

      Prime Office Space, Flexible Layouts, High Visibility
      1121 Douglas Blvd, Midwest City, OK 73130
      View Details
    • $19 SF/Yr
      7,968 SF

      Prime Office Space, S Douglas

      Multi-tenant office building; suites available.
      1113 Douglas Blvd, Midwest City, OK 73130
      View Details
    • $16 SF/Yr
      2,075 SF

      Retail Space with Drive-Thru

      Retail space with drive-thru, high visibility, and ample parking.
      208 S Douglas Blvd, Midwest City, OK 73130
      View Details
    • $11 SF/Yr
      1,470 SF

      Highway Accessible Flex Space

      Newly constructed flex space with highway access and office space.
      9624 W Reno Ave, Oklahoma City, OK 73130
      View Details
    • $12 SF/Yr
      30,753 SF

      Office Space Near I-40

      30,753 SF office space with ample parking, near I-40.
      9901 SE 29Th St, Oklahoma City, OK 73130
      View Details
    • Contact for pricing
      2,994 SF

      Retail Space in Midwest City

      Neighborhood shopping center on heavily trafficked Douglas Blvd.
      1120-1160 S Douglas Blvd, Oklahoma City, OK 73130
      View Details
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    9240 Reno Ave
    Midwest City, OK 73130-3330
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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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