Creative Space with Recording
For Sale
$850,000
1431 E 3rd Street, Tulsa, OK 74120
Commercial, Tulsa, OK
Property Size2,460 SF
Lot Size0.32 Acres
Price / SF$345.53
Days on Market20
Property Features for 1431 E 3rd Street
General Information
Property type
Commercial Sale
Property subtype
Other
Zoning
CH
Security features
Security System
Interior features
Cable TV Wired, Equipment Remarks, High Speed Internet, Mini-Kitchen, Security System-Owned, Smoke Detector
Elementary school district
Tulsa - Sch Dist (1)
Middle school district
Tulsa - Sch Dist (1)
High school district
Tulsa - Sch Dist (1)
Directions
South Side of 3rd St between Rockford & Quincy
Standard status
Active
APN
24275-93-06-16320
Size
2,460 SF
Lot size
0.32 Acres
Taxes and HOA fees
Tax Year
2025
Tax Description
LT 19 & 20 BLK 15 Lynch & Forsythes
Tax Annual Amount
1642
Legal Description
LT 19 & 20 BLK 15 Lynch & Forsythes
Utilities
Utilities
Cable Available
Heating system
Central
Cooling system
Central Air
Building Details
Year built
1977
Floors in Building
1
Flooring type
Concrete, Carpet, Tile
Building materials
Concrete
Roof type
Composition
Listing Agency:
Keller Williams Preferred · Keller Williams Realty
(918) 496-2252
Listed By:
Brian Frere · License #139098
(918) 298-6900
Added: Aug 14
Changed: Aug 19
Last Checked: Sep 2 at 1:06PM
MLS# 2630289
Copyright © 2026 MLS Technology, Inc. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
This 2,460-square-foot creative space operates as a recording studio and includes a control room, three isolation booths, an office, and a lounge with a kitchenette. An attached warehouse-style storage area provides additional utility and is served by an overhead door. The interior combines concrete, carpet, and tile flooring, with central heating and central air. A security system, smoke detectors, high-speed internet, and cable availability are also in place. The building was constructed in 1977 and sits on 0.321 acres with CH zoning.
The property has 3rd Street frontage in Tulsa’s Pearl District, near shopping, art, and retail. Cherry Street, the Cathedral District, and Downtown Tulsa are within minutes, and the site has views of downtown. The space is also identified as suitable for photography, art, or creative office use.
The property has 3rd Street frontage in Tulsa’s Pearl District, near shopping, art, and retail. Cherry Street, the Cathedral District, and Downtown Tulsa are within minutes, and the site has views of downtown. The space is also identified as suitable for photography, art, or creative office use.
Key Highlights
- Operating recording studio with control room and three isolation booths
- 2,460 square feet on 0.321 acres
- Attached warehouse‑style storage with overhead door
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$28,395
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
3.34%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$567,900
$567.9K
Cap Rate 7%
$405,643
$405.6K
Cap Rate 9%
$315,500
$315.5K
Market Conditions
NOI Build-Up for 2,460 SF
Vacancy — income lost from leasable area expected to sit empty during the year, subtracted from gross rent.
EGI (Effective Gross Income) — gross rent minus vacancy losses, the realistic income before paying operating costs.
OpEx (Operating Expenses) — recurring costs to operate the property (property tax, insurance, utilities, maintenance, management); excludes financing and capital improvements.
NOI (Net Operating Income) — income a property generates after operating costs but before financing and taxes.
Gross rent
$44.3K $18.00/SF
− Vacancy
−$6.4K −$2.61/SF
EGI
$37.9K $15.39/SF
− OpEx
−$9.5K −$3.85/SF
NOI
$28.4K $11.54/SF
Area
Tulsa, OK
Vacancy
14.50%
Lease Rate
$18.00 /SF/Yr
Expense Ratio
25.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$567,900
Cap Rate 7%
$405,643
Cap Rate 9%
$315,500
Alternative Uses
Best Use
Office B
$405.6K
$354.9K – $473.3K
NOI $28,395 @ 7.0% cap · market cap 3.34%
Second Best
Flex RnD
$182.3K
$159.5K – $212.7K
NOI $12,760 @ 7.0% cap · market cap 1.50%
Theoretical Best
Office A
$524.7K
$459.1K – $612.1K
NOI $36,728 @ 7.0% cap · market cap 4.32%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
987
Businesses Nearby
Explore this area
Business Placement
Demographics for 74120, OK
5,037
Population
3,308
Households
1.5
Avg Household Size
37
Median Age
52%
College-Educated
92%
High-School Grad
2.1 sq mi
ZIP Area
2,399
Density / Sq Mi
$66,280
Median Household Income
$46,823
Median Earnings
$1,071
Median Rent
$415,300
Median Home Value
Market
Vacancy Rate% for Office in Tulsa, OK
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Creative space - Fully equipped facility combines production rooms, a kitchenette lounge, office, and attached warehouse-style storage.
Where is this creative space located?
The property is located at 1431 E 3rd Street Tulsa, OK.
What is the asking price?
The asking price for this property is $850,000.
What are key features of this property?
This property features: Operating recording studio with control room and three isolation booths; 2,460 square feet on 0.321 acres; Attached warehouse‑style storage with overhead door
