Office and Warehouse Flex
For Sale
Contact for pricing
Pending
10012 E 46th Pl, Tulsa, OK 74146
Flex space with office and warehouse components for sale.
Property Size2,480 SF
Days on Market189
Property Features for 10012 E 46th Pl
General Information
Standard status
Pending
Size
2,480 SF
Class
C
Property subtype
Industrial, Mixed Use
Zoning
IL
Building Details
Year Built
1972
Listing Agency:
McGraw Commercial Properties
(972) 814-8093
Listed By:
Andrew Leach · License #200250
Source:
Crexi
Added: Feb 12
Changed: Aug 14
Last Checked: Aug 14 at 7:24AM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of McGraw Commercial Properties
Investment Insights
Based on property information with market context.
This property offers a combination of office and warehouse space, with approximately 40% of the building finished as high-quality office space and the remaining 60% configured for warehouse use. Both the office and warehouse areas are climate controlled. The property is fully fenced for added security and provides ample space for trailers, parking, and outdoor storage. The property is suitable for businesses requiring both office and warehouse functionalities.
Key Highlights
- Combination of high‑quality office and warehouse space.
- Climate controlled office and warehouse.
- Ample space for trailers, parking, and/or outdoor storage.
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
$12,864
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
4.97%
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%
$257,280
$257.3K
Cap Rate 7%
$183,771
$183.8K
Cap Rate 9%
$142,933
$142.9K
Market Conditions
NOI Build-Up for 2,480 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
$20.8K $8.40/SF
− Vacancy
−$1.0K −$0.42/SF
EGI
$19.8K $7.98/SF
− OpEx
−$6.9K −$2.79/SF
NOI
$12.9K $5.19/SF
Area
Tulsa, OK
Vacancy
5.00%
Lease Rate
$8.40 /SF/Yr
Expense Ratio
35.00%
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%
$257,280
Cap Rate 7%
$183,771
Cap Rate 9%
$142,933
Alternative Uses
Best Use
Flex RnD
$183.8K
$160.8K – $214.4K
NOI $12,864 @ 7.0% cap · market cap 4.97%
Second Best
Industrial
$170.3K
$149.0K – $198.7K
NOI $11,922 @ 7.0% cap · market cap 4.60%
Theoretical Best
Office A
$528.9K
$462.8K – $617.1K
NOI $37,026 @ 7.0% cap · market cap 14.30%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
1,135
Businesses Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Demographics for 74146, OK
16,427
Population
6,138
Households
2.7
Avg Household Size
29
Median Age
8%
College-Educated
69%
High-School Grad
5.1 sq mi
ZIP Area
3,221
Density / Sq Mi
$43,905
Median Household Income
$30,543
Median Earnings
$831
Median Rent
$134,300
Median Home Value
Market
Vacancy Rate% for Industrial in Tulsa, OK
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Flex space - Flex space with office and warehouse components for sale.
Where is this flex space located?
The property is located at 10012 E 46th Pl Tulsa, OK.
What is the asking price?
The asking price for this property is $259,000.
What are key features of this property?
This property features: Combination of high‑quality office and warehouse space.; Climate controlled office and warehouse.; Ample space for trailers, parking, and/or outdoor storage.
