Commercial Kitchen
For Sale
$1,800,000
1 W 81st Street, Tulsa, OK 74132
Commercial, Tulsa, OK
Property Size9,515 SF
Lot Size4.85 Acres
Price / SF$189.17
Days on Market47
Property Features for 1 W 81st Street
General Information
Property type
Commercial Sale
Property subtype
Other
Zoning
IL
Interior features
9' Ceiling Height, Cable TV Wired, Floored Attic
Subdivision
Tulsa Co Unplatted
Elementary school district
Jenks - Sch Dist (5)
Middle school district
Jenks - Sch Dist (5)
High school district
Jenks - Sch Dist (5)
Directions
South on Riverside Drive West over 71st Street Bridge. South at South Elwood (street light). West on 81st Street and South Elwood (4-way stop). House on North side (White House Mansion).
Standard status
Active
APN
98212-82-12-51750
Size
9,515 SF
Lot size
4.85 Acres
Taxes and HOA fees
Tax Year
2023
Tax Description
S680 E/2 E/2 SW SW LESS S24.75 FOR RD SEC 12 18 12 4.849ACS
Tax Annual Amount
5199
Legal Description
S680 E/2 E/2 SW SW LESS S24.75 FOR RD SEC 12 18 12 4.849ACS
Utilities
Utilities
Cable Available
Heating system
Zoned, Central
Cooling system
Zoned, Central Air
Amenities
Commercial Kitchen
tables
chairs
linens
Building Details
Year built
1985
Floors in Building
3
Flooring type
Carpet, Tile, Hardwood, Wood
Building materials
Frame
Roof type
Composition
Listing Agency:
eXp Realty, LLC
(405) 404-1924
Listed By:
Nicci Atchley · License #174632
(918) 574-1057
Added: Jul 23
Changed: Sep 3
Last Checked: Sep 7 at 4:06AM
MLS# 2627179
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 9515-square-foot commercial kitchen facility sits on 4.849 acres and is zoned IL. The property includes a commercial kitchen along with tables, chairs, and linens. Interior features include 9' ceilings, a floored attic, and cable wiring, while the building has central and zoned heating and cooling. Carpet, tile, wood, and hardwood flooring are present. Frame construction and a composition roof date to 1985.
The site provides 300+ car parking spaces and is near Tulsa Hills Shopping Center, Tulsa Premium Outlet Mall, and REI Co-op Outlet stores. The property information identifies restaurant, church, and event-center use, with additional land available for development and room for pad sites.
The site provides 300+ car parking spaces and is near Tulsa Hills Shopping Center, Tulsa Premium Outlet Mall, and REI Co-op Outlet stores. The property information identifies restaurant, church, and event-center use, with additional land available for development and room for pad sites.
Key Highlights
- 9515 square feet on 4.849 acres
- Commercial kitchen with tables, chairs, and linens
- 300+ car parking spaces
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
$107,429
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
5.97%
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%
$2,148,580
$2.1M
Cap Rate 7%
$1,534,700
$1.5M
Cap Rate 9%
$1,193,656
$1.2M
Market Conditions
NOI Build-Up for 9,515 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
$148.4K $15.60/SF
− Vacancy
−$5.2K −$0.55/SF
EGI
$143.2K $15.05/SF
− OpEx
−$35.8K −$3.76/SF
NOI
$107.4K $11.29/SF
Area
Tulsa, OK
Vacancy
3.50%
Lease Rate
$15.60 /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%
$2,148,580
Cap Rate 7%
$1,534,700
Cap Rate 9%
$1,193,656
Alternative Uses
Best Use
Specialty Retail
$1.53M
$1.34M – $1.79M
NOI $107,429 @ 7.0% cap · market cap 5.97%
Second Best
Industrial
$653.5K
$571.8K – $762.4K
NOI $45,742 @ 7.0% cap · market cap 2.54%
Theoretical Best
Office A
$2.03M
$1.78M – $2.37M
NOI $142,058 @ 7.0% cap · market cap 7.89%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
44
Businesses Nearby
Explore this area
Business Placement
Demographics for 74132, OK
10,968
Population
4,818
Households
2.3
Avg Household Size
37
Median Age
42%
College-Educated
95%
High-School Grad
12.6 sq mi
ZIP Area
870
Density / Sq Mi
$75,199
Median Household Income
$48,243
Median Earnings
$1,134
Median Rent
$271,400
Median Home Value
Market
Vacancy Rate% for Retail 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?
Commercial kitchen - Restaurant, church, or event-center use is supported by kitchen equipment, furnishings, and substantial on-site parking.
Where is this commercial kitchen located?
The property is located at 1 W 81st Street Tulsa, OK.
What is the asking price?
The asking price for this property is $1,800,000.
What are key features of this property?
This property features: 9515 square feet on 4.849 acres; Commercial kitchen with tables, chairs, and linens; 300+ car parking spaces
