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

    9950 15th St Midwest City, OK 73130-5525

    • Retail space
    • 14,748 SF
    • 1.42 lot acres
    OFF-MARKET
    Last Sale
    Mar 31, 2025
    $3,600,000
    Value Estimations
    $2,580,000
    Show details
    Cap Rate Potential
    5.6%
    Retail space
    Location Intelligence
    Property ID
    US69-2361461
    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

    • Retail space

    Property Details for 9950 15th St

    Year built
    2004
    Construction
    MASONRY/CONCRETE MASONRY UNITS (CMUS)
    Lot size
    1.42 lot acres
    Property size
    14,748 SF
    Property type
    Retail space
    APN
    15-382-2005
    APU
    153822005

    Description

    This exceptional investment opportunity presents a fee-simple interest in a 14,650-square-foot Walgreens located at 9950 SE 15th St, Midwest City, OK 73130. Built in 2004, this single-tenant, absolute NNN leased property sits on a 1.42-acre lot and boasts a drive-thru. The current lease, with a corporate guarantee, commenced January 1, 2005, and extends to January 31, 2036, offering a substantial remaining lease term of 11.2 years, with nine 5-year renewal options. The property generates a strong net operating income (NOI) of $306,638, resulting in a 7.00% cap rate. The asking price is $4,380,000, translating to $298.98 per square foot. This Walgreens location is ranked in the top 22% nationally by Placer.ai, demonstrating exceptional performance and a healthy 10% rent-to-sales ratio. The property benefits from its proximity to Tinker U.S. Air Force Base, a significant driver of local business. This offering presents a low-risk, high-return investment with a long-term, credit-rated tenant and minimal landlord responsibilities. The property is 100% occupied and offers a compelling 1031 exchange opportunity.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      Statistic approach
      $2,755,000
      ML approach
      $2,820,000

    • CAP approach

      CAP Return
      Estimation
      6%
      $2,595,000
      6.5%
      $2,395,000
      7%
      $2,225,000

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $2,341,000
      Market price range: $981k - $3.09M
      AI Estimate
      $1,891,000
      Market price range: $680k - $2.33M

    • Alternative Use

      Use
      Estimation
      RETAIL STORES
      $1,885,000
      Current use
      MEDICAL BUILDING
      $2,435,000
      Change: +29% Conversion: Difficult
      AUTO REPAIR, GARAGE
      $2,325,000
      Change: +24% Conversion: Difficult
      COMMERCIAL (GENERAL)
      $2,115,000
      Change: +12% Conversion: Easy
      NEIGHBORHOOD: SHOPPING CENTER
      $1,735,000
      Change: -8% Conversion: Moderate

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

    Location Insight

    • Map
    • Local Demand
    City
    Midwest City
    County
    Oklahoma
    State
    Oklahoma
    Longitude
    -97.3536
    Latitude
    35.4491
    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
    $29,034
    $88,273
    $158,380
    $246,653
    -
    $802,490
    $1,439,813
    $2,242,303

    Comparable in this City

    • Value Estimation by Request
      1,221 SF

      10007 10th St

      RETAIL STORES (PERSONAL SERVICES) • 1,221 SF
      10007 10th St, Midwest City, OK 73130-1701
      View Details
    • Value Estimation
      $825,000
      4,686 SF

      1601 Douglas Blvd

      RETAIL STORES (PERSONAL SERVICES) • 4,686 SF
      1601 Douglas Blvd, Midwest City, OK 73130-6219
      View Details
    • Value Estimation by Request
      7,440 SF

      2412 Douglas Blvd

      RETAIL STORES (PERSONAL SERVICES) • 7,440 SF
      2412 Douglas Blvd, Midwest City, OK 73130-7116
      View Details
    • Value Estimation
      $1,910,000
      12,168 SF

      100 Douglas Blvd

      RETAIL STORES (PERSONAL SERVICES) • 12,168 SF
      100 Douglas Blvd, Midwest City, OK 73130-4207
      View Details
    • Value Estimation by Request
      1,012 SF

      700 Post Rd

      RETAIL STORES (PERSONAL SERVICES) • 1,012 SF
      700 Post Rd, Midwest City, OK 73130-4622
      View Details
    • Value Estimation
      $580,000
      3,319 SF

      9930 Reno Ave

      RETAIL STORES (PERSONAL SERVICES) • 3,319 SF
      9930 Reno Ave, Midwest City, OK 73130-3506
      View Details

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    • $2,111,597

      Zaxby's NNN Lease Opportunity

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    Similar Nearby for Lease

    • Contact for pricing
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    • $19 SF/Yr
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      New Retail Space Available

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      Retail Space with Drive-Thru

      Retail space with drive-thru, high visibility, and ample parking.
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    • $15 SF/Yr
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      Retail Space with 50' Bay

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    • $17 SF/Yr
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      Turn-Key Restaurant Space Available

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      850 SF-1,600 SF Retail Space For Lease at Boulevard Marketplace

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    9950 15th St
    Midwest City, OK 73130-5525
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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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