Art Deco Office
1012 S Elgin Ave Tulsa, OK 74120
1012 S Elgin Ave, Tulsa, OK, 74120
$1,550,000
For Sale
$1,550,000
Fully restored 1925 Art Deco office building with an open main floor and multiple private rooms.
Property Size4,680 SF
Price / SF$331.20
Days on Market75
Property Features for 1012 S Elgin Ave
General Information
- Standard status
- Active
- Size
- 4,680 SF
Listing agency
Coldwell Banker Select
(918) 720-4010
Listed by
Amy Main · License #151368
(918) 720-4010
Source
Exprealty
Added: May 8 Updated: Jul 20 at 5:31PM Checked: Jul 20 at 5:31PM
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 Coldwell Banker Select
Investment Insights
Based on property information with market context.
Built in 1925 in a Streamline Art Deco style, this fully restored office property totals approximately 4,680 square feet and features cinderblock construction. The main interior offers about 2,500 square feet of open area with 15-foot ceilings and abundant natural light, along with an Art Deco lobby, an original vault room, a private office, an upstairs break room/kitchen, two bathrooms, a shower, and an additional large work room. A security system with cameras is also included.
The building is located on the 11th Street roundabout at the southern gateway into downtown Tulsa on Historic Route 66, connecting to nearby Cathedral and Gunboat Districts and serving as a south entrance to downtown.
Notable capital improvements include replacement of a 50-year TPO roof with extra insulation, updates to all three HVAC zones, plumbing, electrical, wiring, and windows. The original design was intended to accommodate additional levels, providing further flexibility for future adaptation.
The building is located on the 11th Street roundabout at the southern gateway into downtown Tulsa on Historic Route 66, connecting to nearby Cathedral and Gunboat Districts and serving as a south entrance to downtown.
Notable capital improvements include replacement of a 50-year TPO roof with extra insulation, updates to all three HVAC zones, plumbing, electrical, wiring, and windows. The original design was intended to accommodate additional levels, providing further flexibility for future adaptation.
Key Highlights
- Fully restored 1925 Streamline Art Deco building with 4,680 +/- SF in downtown Tulsa on Historic Route 66
- Main interior offers approx 2,500 SF open area with 15‑ft ceilings and abundant natural light
- Art Deco lobby plus original vault room, private office, upstairs break room/kitchen, two bathrooms, shower, and large work room
Local Financial Insights For Office B
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 | $84.2k | $18.00 |
| − Vacancy | −$12.2k | −$2.61 |
| EGI | $72.0k | $15.39 |
| − OpEx | −$18.0k | −$3.85 |
| NOI | $54.0k | $11.54 |
4,680 SF · lease $18.00/SF/yr · vacancy 14.50% · expense 25.00%
Alternative Uses
Best Use
Office B
$771.7K
$675.2K – $900.3K
NOI $54,019 @ 7.0% cap · market cap 3.49%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$998.2K
$873.4K – $1.16M
NOI $69,872 @ 7.0% cap · market cap 4.51%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Location Intelligence
Current Use by Public Records
Day & Nite Rugs
Carpet Cleaning Service
Similar For Sale Nearby
FAQs
What type of property is this?
Office units - Fully restored 1925 Art Deco office building with an open main floor and multiple private rooms.
Where is this office units located?
The property is located at 1012 S Elgin Ave Tulsa, OK.
What is the asking price?
The asking price for this property is $1,550,000.
What are key features of this property?
This property features: Fully restored 1925 Streamline Art Deco building with 4,680 +/- SF in downtown Tulsa on Historic Route 66; Main interior offers approx 2,500 SF open area with 15‑ft ceilings and abundant natural light; Art Deco lobby plus original vault room, private office, upstairs break room/kitchen, two bathrooms, shower, and large work room
