Industrial Flex Space with
New
For Sale
$1,600,000
1021 N Columbia Place, Tulsa, OK 74110
Commercial, Tulsa, OK
Property Size26,643 SF
Lot Size0.69 Acres
Price / SF$60.05
Days on Market2
Property Features for 1021 N Columbia Place
General Information
Property type
Commercial Sale
Property subtype
Other
Zoning
IM
Interior features
9' Ceiling Height, Cable TV Wired
Exterior features
Lighting
Fencing
Chain Link
Elementary school district
Tulsa - Sch Dist (1)
Middle school district
Tulsa - Sch Dist (1)
High school district
Tulsa - Sch Dist (1)
Directions
East off Lewis Ave at Independence to Columbia Place (left) N on Columbia Pl to property on East side. West off Harvard at Independence to Columbia Place (right) N on Columbia Pl to property on East side.
Standard status
Active
Size
26,643 SF
Lot size
0.69 Acres
Taxes and HOA fees
Tax Year
2019
Tax Description
lts 1,2,3,Blk 3
Tax Annual Amount
7751
Legal Description
lts 1,2,3,Blk 3
Utilities
Utilities
Cable Available
Heating system
Zoned
Cooling system
Zoned
Building Details
Year built
1955
Building materials
Aluminum
Listing Agency:
Parker & Associates
(918) 804-2200
Listed By:
Peter Parker
(918) 744-9800
Added: Sep 26
Last Checked: Sep 27 at 12:06PM
MLS# 2635542
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 26,643-square-foot flex property combines executive offices, a reception area, and bullpen space with a large open warehouse. The warehouse has 2 OHDs, and a dock-high OHD is also noted. Additional features include 480 electric, a paint booth, an alarm system, and fenced parking. The site totals 0.689 acres and carries IM zoning. Built in 1955, the building has 9' ceilings, zoned heating and cooling, and chain-link fencing.
Key Highlights
- 26,643 square feet on 0.689 acres
- IM zoning
- Executive offices, reception area, and bullpen space
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
Lease Details
Yes
Fenced yard
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 and an open warehouse are configured within an IM-zoned property.
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 feet on 0.689 acres; IM zoning; Executive offices, reception area, and bullpen space
