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    Tulsa Commercial Building on Acreage Title is generated by Realmo AI

    8302 W 51 Street S, Tulsa, OK 74107

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    For Sale
    $465,000

    COMMERCIAL - Tulsa, OK

    Property size:
    3,000 SF
    Lot size:
    3.46 Acres
    Price / SF:
    $155/SF
    Added:
    Mar 5, 2026
    Days on Market:
    92
    Last Refresh:
    Jun 5 at 5:06 pm

    Property Features for 8302 W 51 Street S

    General Information

    Property type
    Commercial Sale
    Property subtype
    Other
    Zoning
    AG
    Parking features
    Paved or Surfaced
    Security features
    Security System
    Interior features
    Security System-Leased, Smoke Detector
    Exterior features
    Lighting, Storage
    Fencing
    Chain Link
    Standard status
    Active
    APN
    99230923011890
    Size
    3,000 SF
    Lot size
    3.46 Acres

    Taxes and HOA fees

    Tax Year
    2025
    Tax Description
    See Addendum/Court House Docs
    Tax Annual Amount
    4574

    Utilities

    Utilities
    Water Available
    Heating system
    Space Heater

    Building Details

    Year built
    2014
    Flooring type
    Concrete
    Building materials
    Aluminum
    Roof type
    Metal
    Additional Structures
    Storage

    We can help!

    Listing Contact
    John Gibson Miller
    John Gibson Miller

    Listing agent John Gibson Miller

    Listing office Chinowth & Cohen 7510 E 111th St S, Tulsa, OK

    Listing date Mar 5, 2026

    MLS# 2607710

    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.

    HighLights

    • Excellent visibility and accessibility just off 51st St. frontage.
    • Versatile 3,000 sq. ft. spray‑foam insulated metal building on 5.32 total acres.
    • Zoned agricultural, offering flexible potential for retail, markets, warehouse, events, workshop, or storage.
    • Open‑span interior with reinforced concrete floors and two 14‑ft overhead loading doors.
    • Finished office/check‑in area with rustic wood accents and covered front porch.
    • Rural water available.

    Overview

    This property features a 3,000 square foot spray-foam insulated metal building on 3.46 acres, with an additional 1.86 acres included, totaling 5.32 acres. The property is zoned agricultural and offers visibility just off 51st Street. The building has an open-span interior with reinforced concrete floors and exposed wood trusses. Two 14-foot overhead loading doors provide access for trucks, trailers, and equipment. Interior amenities include two mini-split cooling units and an additional heating unit, along with a finished office/check-in area with rustic wood accents and a covered front porch entry. Previously used as a farmers market retail space, the property offers flexible potential for agricultural retail, vendor markets, warehouse use, events, workshop space, or equipment storage. Rural water is available. There is no water or septic currently installed.

    Local Financial Insights For Retail

    Simulate Cap Rate and NOI

    NOI Build-Up
    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.

    Component $ $/SF
    Gross rent $43.2k $14.40
    − Vacancy −$1.9k −$0.65
    EGI $41.3k $13.75
    − OpEx −$12.4k −$4.13
    NOI $28.9k $9.63
    3,000 SF · lease $14.40/SF/yr · vacancy 4.50% · expense 30.00%

    Alternative Uses

    Best Use
    Retail
    $412.6K
    $361.0K – $481.3K (±1% cap)
    NOI $28,879 @ 7.0% cap · market cap 6.21%
    Second Best
    Warehouse
    $250.2K
    $218.9K – $291.9K (±1% cap)
    NOI $17,512 @ 7.0% cap · market cap 3.77%
    Theoretical Best
    Office A
    $639.9K
    $559.9K – $746.5K (±1% cap)
    NOI $44,790 @ 7.0% cap · market cap 9.63%
    Zoning and permitted uses should be independently verified with local authorities.
    Property Profile Location Intelligence

    Current Use by Public Records

    White Bison Market Specialty Food Shop WILBURS TULSA Department Store The Yellow House Dispensary Department Store

    Suggested Use

    Real Estate Agency Law Firm Dental Office Building Supply Auto Repair Shop Gym & Fitness Center Big Box & Wholesale Store Bar & Pub Daycare Center Department Store

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

    Location Insight

    • Map
    • Local Demand
    City
    Tulsa
    County
    Creek
    State
    Oklahoma
    Longitude
    -96.074061
    Latitude
    36.088709

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    FAQs

    What type of property is this?
    Agricultural property - Versatile building on 5.32 acres near 51st St.
    Where is this agricultural property located?
    The property is located at 8302 W 51 Street S Tulsa, OK.
    What is the asking price?
    The asking price for this property is $465,000.
    What are key features of this property?
    This property features: Excellent visibility and accessibility just off 51st St. frontage.; Versatile **3,000 sq. ft. spray‑foam insulated metal building** on 5.32 total acres.; Zoned agricultural, offering flexible potential for retail, markets, warehouse, events, workshop, or storage.
    (918) 392-0900
    We can help!
    Listing Contact
    John Gibson Miller
    John Gibson Miller
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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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