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    1823 W 51St St Tulsa, OK 74107

    View on Map
    Sponsored
    For Sale
    $750,000

    COMMERCIAL - Tulsa, OK

    Property size:
    8,502 SF
    Lot size:
    0.83 Acres
    Days on Market:
    66
    Last Refresh:
    Mar 17 at 2:06 pm

    Property Features for 1823 W 51St St

    General Information

    Property type
    Commercial Sale
    Property subtype
    Other
    Standard status
    Active
    Security features
    Security System
    Zoning
    OL
    APN
    16825-92-27-09270
    Interior features
    9' Ceiling Height, High Speed Internet, Mini-Kitchen, Security System-Owned, Smoke Detector
    Exterior features
    Lighting, Professional Landscaped, Sidewalk
    Size
    8,502 SF
    Lot size
    0.83 Acres

    Building Details

    Year built
    1950
    Flooring type
    Vinyl, Tile
    Building materials
    Frame

    We can help!

    Listing Contact
    Dariela Gonzalez
    Dariela Gonzalez

    Chinowth & Cohen Realtors (918) 392-0900

    Listing agent Dariela Gonzalez (918) 521-3597

    Listing date Jan 10, 2026

    MLS# 2545083

    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.

    Learn more

    Property Insight Report

    Overview

    Versatile Commercial Building in Tulsa

    This versatile 8,502 square foot commercial property in Tulsa, Oklahoma, is designed to accommodate a variety of needs. Situated on a 0.83-acre lot, the property features an event center with a spacious hall suitable for events and conferences. The event center includes a bridal room, two bathrooms, a welcoming entryway, and a prep area equipped with a refrigerator. A dedicated storage space with garage door access facilitates setup and teardown. The adjacent office building offers functionality and comfort, featuring nine offices on the main level and two additional offices upstairs, along with two bathrooms. The main floor includes a conference room, a wet bar with a microwave and refrigerator, a printing station, and ample storage. Upstairs, a relaxation area includes a second wet bar and refrigerator, creating a comfortable space for unwinding or informal meetings. The property is zoned OL. This property blends professional workspaces with amenities suitable for social and business gatherings.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Aflac Tulsa Insurance Agency BAEco, LLC Real Estate Agency

    Suggested Use

    Law Firm Restaurant Spa & Massage Center Dental Office Hair Salon Nail Salon Building Supply Gym & Fitness Center Skin Care Clinic Accounting Firm

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Tulsa
    County
    Creek
    State
    Oklahoma
    Longitude
    -96.013278
    Latitude
    36.090161

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    FAQs

    What type of property is this?
    Office building - Event center and office building suitable for various business needs.
    Where is this office building located?
    The property is located at 1823 W 51St St Tulsa, OK.
    What is the asking price?
    The asking price for this property is $750,000.
    What are key features of this property?
    This property features: - Versatile building suitable for events, conferences, and office use.; - **Event Center featuring a spacious hall, bridal room, and prep area.**; - Office building with nine main-level offices and two upstairs offices.
    (918) 521-3597
    Request Owner's contact information
    1823 W 51St St Tulsa, OK 74107
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    Tulsa, OK 74107
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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
    1823 W 51St St Tulsa, OK 74107
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    We can help!
    Listing Contact
    Dariela Gonzalez
    Dariela Gonzalez
    Real Estate License ID: 171639
    (918) 521-3597 (918) 392-9900 (918) 392-0900
    Learn more
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