Manufacturing Property with Warehouse
For Sale
$1,100,000
1113 North Utica Avenue, Tulsa, OK 74110
Three buildings combine manufacturing, warehouse, office, loading, and secured yard improvements across an assemblage zoned IL.
Property Size20,907 SF
Days on Market69
Property Features for 1113 North Utica Avenue
General Information
Standard status
Active
Size
20,907 SF
Property subtype
Industrial
Zoning
IL
Site & Location
Fenced Yard
Yes
Outdoor Storage
Yes
Additional Details
Conditioned Warehouse
Yes
Building Details
Building Size
20,907 SF
Buildings
3
Listing Agency:
McGraw Commercial Properties
(214) 500-4713
Listed By:
Julie Buxton, CCIM · License #OK #181195
(214) 500-4713
Source:
Mcgrawcp
Added: Jun 25
Changed: Aug 30
Last Checked: Aug 31 at 1:58PM
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 manufacturing and warehouse assemblage includes three buildings totaling 20,907 square feet across 1.00 acres m/l, plus two additional land parcels totaling .49 acres m/l. Building 1 provides 6,498 square feet on .69 acres m/l with office and warehouse areas, a drive-in door, 9’+ clear height, remodeled office space, climate control, and 200-amp electrical service. Building 2 contains 8,470* square feet on .56 acres m/l, including manufacturing and warehouse space, a drive-in loading door, 16’ clear height, newer office space with kitchenette, ADA-compliant restrooms, climate control, and a concrete gated/fenced yard. Building 3 adds 5,939* square feet on .75 acres m/l with two overhead doors, a loading dock, 10’ clear height, full climate control, and a gated/fenced yard.
The properties are situated along N. Utica Avenue and E. Latimer Place, including land at the southeast corner of N. Utica Avenue and E. Latimer Street. Electrical service ranges from 200-amp to 400-amp, 3 phase. Roof improvements include a 2022 replacement on Building 1 and a current 20-year warranty on Building 3. The property is currently leased.
The properties are situated along N. Utica Avenue and E. Latimer Place, including land at the southeast corner of N. Utica Avenue and E. Latimer Street. Electrical service ranges from 200-amp to 400-amp, 3 phase. Roof improvements include a 2022 replacement on Building 1 and a current 20-year warranty on Building 3. The property is currently leased.
Key Highlights
- Three buildings total 20,907 square feet across 1.00 acres m/l, plus two land parcels totaling .49 acres m/l
- Building 2 offers 8,470* sf, 16’ clear height, drive‑in loading, 400‑amp, 3 phase electrical, and a concrete gated/fenced yard
- Building 3 includes 5,939* sf, two overhead doors, loading dock, 10’ clear height, and a current 20‑yr roof warranty
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
$100,507
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
9.14%
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%
$2,010,140
$2.0M
Cap Rate 7%
$1,435,814
$1.4M
Cap Rate 9%
$1,116,744
$1.1M
Market Conditions
NOI Build-Up for 20,907 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
$148.0K $7.08/SF
− Vacancy
−$4.4K −$0.21/SF
EGI
$143.6K $6.87/SF
− OpEx
−$43.1K −$2.06/SF
NOI
$100.5K $4.81/SF
Area
Tulsa, OK
Vacancy
3.00%
Lease Rate
$7.08 /SF/Yr
Expense Ratio
30.00%
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%
$2,010,140
Cap Rate 7%
$1,435,814
Cap Rate 9%
$1,116,744
Alternative Uses
Best Use
Warehouse
$1.74M
$1.53M – $2.03M
NOI $122,044 @ 7.0% cap · market cap 11.09%
Second Best
Flex RnD
$1.55M
$1.36M – $1.81M
NOI $108,445 @ 7.0% cap · market cap 9.86%
Theoretical Best
Office A
$4.46M
$3.90M – $5.20M
NOI $312,140 @ 7.0% cap · market cap 28.38%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Yes
Fenced yard
Location Intelligence
Trade Area within ½ mile
430
Businesses Nearby
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
Market
Vacancy Rate% for Industrial in Tulsa, OK
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Manufacturing property - Three buildings combine manufacturing, warehouse, office, loading, and secured yard improvements across an assemblage zoned IL.
Where is this manufacturing property located?
The property is located at 1113 North Utica Avenue Tulsa, OK.
What is the asking price?
The asking price for this property is $1,100,000.
What are key features of this property?
This property features: Three buildings total 20,907 square feet across 1.00 acres m/l, plus two land parcels totaling .49 acres m/l; Building 2 offers 8,470* sf, 16’ clear height, drive‑in loading, 400‑amp, 3 phase electrical, and a concrete gated/fenced yard; Building 3 includes 5,939* sf, two overhead doors, loading dock, 10’ clear height, and a current 20‑yr roof warranty
