Flex Space with
For Sale
$1,600,000
1021 N Columbia Place, Tulsa, OK 74110
Office areas include executive rooms, a reception area, and an open sales bullpen.
Property Size26,643 SF
Price / SF$60.05
Days on Market8
Property Features for 1021 N Columbia Place
General Information
Standard status
Active
Size
26,643 SF
Property subtype
Commercial
Building Details
Year Built
1955
Listing Agency:
Parker & Associates
Listed By:
Peter Parker · License #pparker
(918) 744-9800
Source:
1907realty
Added: Sep 28
Changed: Sep 30
Last Checked: Oct 4 at 6:42AM
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 Parker & Associates
Investment Insights
Based on property information with market context.
This 26,643-square-foot flex property combines executive office space with a large open warehouse. The office layout includes a reception area and an open bullpen for sales staff. Warehouse features include overhead doors, dock-high loading, 480-volt electric service, and a paint booth.
The property was built in 1955 and is zoned IM. Additional site and building features include fenced parking and an alarm system.
The property was built in 1955 and is zoned IM. Additional site and building features include fenced parking and an alarm system.
Key Highlights
- 26,643‑square‑foot flex property with office and warehouse space
- Executive offices, reception area, and sales bullpen
- Large open warehouse with 2 overhead doors and a dock‑high overhead door
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
$138,197
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
8.64%
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%
$2,763,940
$2.8M
Cap Rate 7%
$1,974,243
$2.0M
Cap Rate 9%
$1,535,522
$1.5M
Market Conditions
NOI Build-Up for 26,643 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
$223.8K $8.40/SF
− Vacancy
−$11.2K −$0.42/SF
EGI
$212.6K $7.98/SF
− OpEx
−$74.4K −$2.79/SF
NOI
$138.2K $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%
$2,763,940
Cap Rate 7%
$1,974,243
Cap Rate 9%
$1,535,522
Alternative Uses
Best Use
Warehouse
$2.22M
$1.94M – $2.59M
NOI $155,527 @ 7.0% cap · market cap 9.72%
Second Best
Flex RnD
$1.97M
$1.73M – $2.30M
NOI $138,197 @ 7.0% cap · market cap 8.64%
Theoretical Best
Office A
$5.68M
$4.97M – $6.63M
NOI $397,778 @ 7.0% cap · market cap 24.86%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
395
Businesses Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Demographics for 74110, OK
15,197
Population
5,992
Households
2.5
Avg Household Size
32
Median Age
9%
College-Educated
69%
High-School Grad
5.9 sq mi
ZIP Area
2,576
Density / Sq Mi
$40,116
Median Household Income
$26,571
Median Earnings
$909
Median Rent
$67,700
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
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 - Office areas include executive rooms, a reception area, and an open sales bullpen.
Where is this flex space located?
The property is located at 1021 N Columbia Place Tulsa, OK.
What is the asking price?
The asking price for this property is $1,600,000.
What are key features of this property?
This property features: 26,643‑square‑foot flex property with office and warehouse space; Executive offices, reception area, and sales bullpen; Large open warehouse with 2 overhead doors and a dock‑high overhead door
