Retail Building with Major Road
For Sale
Contact for pricing
1147 S Lewis Avenue, Tulsa, OK 74104
Land and building for sale with strong passing traffic and significant road frontage suited for storefront retail users.
Property Size6,734 SF
Price / SF$237.60
Days on Market65
Property Features for 1147 S Lewis Avenue
General Information
Standard status
Active
Size
6,734 SF
Property subtype
Business for Sale, Mixed Use
Additional Details
Traffic Count
14,590 vehicles/day
Building Details
Year Built
2016
Listing Agency:
Coldwell Banker Select Real Estate Midtown
Listed By:
David Roberts · License #OK
Source:
Crexi
Added: Jun 9
Changed: Aug 8
Last Checked: Jul 21 at 2:26PM
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 Real Estate Midtown
Investment Insights
Based on property information with market context.
This for-sale retail building is positioned within the newly rebranded Tulsa Market District, a centralized area developed to support community engagement. The offering is described as land and building only. The surrounding district is characterized by restaurants, grocery, and retail immediately out front.
The property is noted as being nestled near Route 66, with proximity to the Mother Road Market and luxury apartments currently underway. Public remarks also cite a traffic count exceeding 14,590 and approximately 78 feet of frontage on Lewis, emphasizing visibility for any storefront concept.
With its emphasis on walk-in and community presence, this site is best suited for retailers seeking prominent exposure along a heavily traveled corridor. The location context also suggests compatibility with neighborhood-facing concepts that benefit from being close to dining, shopping, and a shared gathering space.
The property is noted as being nestled near Route 66, with proximity to the Mother Road Market and luxury apartments currently underway. Public remarks also cite a traffic count exceeding 14,590 and approximately 78 feet of frontage on Lewis, emphasizing visibility for any storefront concept.
With its emphasis on walk-in and community presence, this site is best suited for retailers seeking prominent exposure along a heavily traveled corridor. The location context also suggests compatibility with neighborhood-facing concepts that benefit from being close to dining, shopping, and a shared gathering space.
Key Highlights
- Year built 2016 building and land for sale in the Tulsa Market District
- Traffic count exceeding 14,590
- 78 ft of frontage on Lewis (road frontage on Lewis)
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
$64,824
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
4.05%
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%
$1,296,480
$1.3M
Cap Rate 7%
$926,057
$926.1K
Cap Rate 9%
$720,267
$720.3K
Market Conditions
NOI Build-Up for 6,734 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
$97.0K $14.40/SF
− Vacancy
−$4.4K −$0.65/SF
EGI
$92.6K $13.75/SF
− OpEx
−$27.8K −$4.13/SF
NOI
$64.8K $9.63/SF
Area
Tulsa, OK
Vacancy
4.50%
Lease Rate
$14.40 /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%
$1,296,480
Cap Rate 7%
$926,057
Cap Rate 9%
$720,267
Alternative Uses
Best Use
Retail
$926.1K
$810.3K – $1.08M
NOI $64,824 @ 7.0% cap · market cap 4.05%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.44M
$1.26M – $1.68M
NOI $100,538 @ 7.0% cap · market cap 6.28%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
14,590 VPD
Traffic count
Location Intelligence
Trade Area within ½ mile
2,050
Businesses Nearby
133k
Monthly Visits Nearby
Explore this area
Business Placement
Foot Traffic Nearby
Dining 40%
Groceries 36%
Shops & Services 14%
Office Supplies 6%
Reasor's
Groceries
48,260 visits/mo
0.2 miles
Braum's Ice Cream & Dairy Stores
Dining
22,751 visits/mo
0.2 miles
SONIC Drive In
Dining
14,837 visits/mo
0.4 miles
Taco Bueno
Dining
9,827 visits/mo
0.5 miles
Office Depot
Office Supplies
7,598 visits/mo
0.4 miles
Demographics for 74104, OK
12,395
Population
6,367
Households
1.9
Avg Household Size
31
Median Age
46%
College-Educated
90%
High-School Grad
2.7 sq mi
ZIP Area
4,591
Density / Sq Mi
$51,886
Median Household Income
$30,951
Median Earnings
$1,109
Median Rent
$224,500
Median Home Value
Market
Vacancy Rate% for Retail in Tulsa, OK
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Retail space - Land and building for sale with strong passing traffic and significant road frontage suited for storefront retail users.
Where is this retail space located?
The property is located at 1147 S Lewis Avenue 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: Year built 2016 building and land for sale in the Tulsa Market District; Traffic count exceeding 14,590; 78 ft of frontage on Lewis (road frontage on Lewis)
