Office-Configured Flex
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For Sale
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1039 North Owasso Avenue, Tulsa, OK 74106
A remodeled layout brings administrative offices together with an adjoining warehouse area.
Property Size2,880 SF
Price / SF$102.43
Days on Market6
Property Features for 1039 North Owasso Avenue
General Information
Standard status
Active
Size
2,880 SF
Property subtype
Office, Industrial
Building Details
Building Size
2,880 SF
Listing Agency:
KW Commercial OK
Listed By:
Patrick Arie · License #Ok 157053
Source:
Crexi
Added: Sep 22
Changed: Sep 26
Last Checked: Sep 26 at 3:35PM
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 KW Commercial OK
Investment Insights
Based on property information with market context.
This 2,880 SF flex property pairs administrative space with a warehouse. The office area has tile flooring and eight offices, including two sized for conference or project use. The warehouse measures 38 x 22 and has a 10x10 overhead door, with an adjoining 9x10 room.
Key Highlights
- 2,880 SF flex property with office and warehouse areas
- Eight offices, including two suitable for conference or project work
- Warehouse measures 38 x 22
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
$16,812
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
5.70%
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%
$336,240
$336.2K
Cap Rate 7%
$240,171
$240.2K
Cap Rate 9%
$186,800
$186.8K
Market Conditions
NOI Build-Up for 2,880 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
$20.4K $7.08/SF
− Vacancy
−$612 −$0.21/SF
EGI
$19.8K $6.87/SF
− OpEx
−$3.0K −$1.03/SF
NOI
$16.8K $5.84/SF
Area
Tulsa, OK
Vacancy
3.00%
Lease Rate
$7.08 /SF/Yr
Expense Ratio
15.00%
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%
$336,240
Cap Rate 7%
$240,171
Cap Rate 9%
$186,800
Alternative Uses
Best Use
Warehouse
$240.2K
$210.2K – $280.2K
NOI $16,812 @ 7.0% cap · market cap 5.70%
Second Best
Flex RnD
$213.4K
$186.7K – $249.0K
NOI $14,939 @ 7.0% cap · market cap 5.06%
Theoretical Best
Office A
$614.3K
$537.5K – $716.6K
NOI $42,998 @ 7.0% cap · market cap 14.58%
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
442
Businesses Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Demographics for 74106, OK
16,805
Population
8,341
Households
2
Avg Household Size
35
Median Age
17%
College-Educated
83%
High-School Grad
7.6 sq mi
ZIP Area
2,211
Density / Sq Mi
$37,714
Median Household Income
$31,022
Median Earnings
$816
Median Rent
$98,900
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 - A remodeled layout brings administrative offices together with an adjoining warehouse area.
Where is this flex space located?
The property is located at 1039 North Owasso Avenue Tulsa, OK.
What is the asking price?
The asking price for this property is $295,000.
What are key features of this property?
This property features: 2,880 SF flex property with office and warehouse areas; Eight offices, including two suitable for conference or project work; Warehouse measures 38 x 22
