Remodeled Multifamily
New
For Sale
$2,200,000
1150 Quaker Avenue, Tulsa, OK 74120
Renovated interiors are paired with landscaped grounds, exterior lighting, and sidewalks.
Property Size12,600 SF
Price / SF$174.60
Days on Market7
Property Features for 1150 Quaker Avenue
General Information
Standard status
Active
Size
12,600 SF
Property subtype
General Commercial
Additional Details
Public Transit
Yes
Taxes and HOA fees
Annual Taxes
$10,597
Amenities
Electric
Landscaped, Exterior Lighting, Sidewalks.
Building Details
Year Built
1960
Stories
2
Listing Agency:
Elevate Realty
(918) 999-5055
Listed By:
Adriana Fout
(918) 999-5055
Source:
Xome
Added: Aug 7
Changed: Aug 13
Last Checked: Aug 13 at 3:50AM
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 Elevate Realty
Investment Insights
Based on property information with market context.
This multifamily property contains 12,600 square feet and was originally built in 1960. A comprehensive renovation updated major building components and interior finishes, creating a contemporary residential asset with electric service and refreshed functionality.
The property is located at 1150 Quaker Avenue in Tulsa, Oklahoma, in a central area with access to public transportation, major highways, employment centers, shopping, dining, and other Tulsa destinations. Exterior improvements include landscaped areas, site lighting, and sidewalks, supporting the property's established urban setting.
The property is located at 1150 Quaker Avenue in Tulsa, Oklahoma, in a central area with access to public transportation, major highways, employment centers, shopping, dining, and other Tulsa destinations. Exterior improvements include landscaped areas, site lighting, and sidewalks, supporting the property's established urban setting.
Key Highlights
- 12,600‑square‑foot multifamily property
- Extensive renovation with updated major components and interior finishes
- Originally constructed in 1960
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
$112,391
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
5.11%
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%
$2,247,820
$2.2M
Cap Rate 7%
$1,605,586
$1.6M
Cap Rate 9%
$1,248,789
$1.2M
Market Conditions
NOI Build-Up for 12,600 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
$226.8K $18.00/SF
− Vacancy
−$22.5K −$1.78/SF
EGI
$204.3K $16.22/SF
− OpEx
−$92.0K −$7.30/SF
NOI
$112.4K $8.92/SF
Area
Tulsa, OK
Vacancy
9.90%
Lease Rate
$18.00 /SF/Yr
Expense Ratio
45.00%
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%
$2,247,820
Cap Rate 7%
$1,605,586
Cap Rate 9%
$1,248,789
Alternative Uses
Best Use
Apartment 5plus
$1.61M
$1.40M – $1.87M
NOI $112,391 @ 7.0% cap · market cap 5.11%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$2.69M
$2.35M – $3.14M
NOI $188,117 @ 7.0% cap · market cap 8.55%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
3,535
Businesses Nearby
Explore this area
Business Placement
Demographics for 74120, OK
5,037
Population
3,308
Households
1.5
Avg Household Size
37
Median Age
52%
College-Educated
92%
High-School Grad
2.1 sq mi
ZIP Area
2,399
Density / Sq Mi
$66,280
Median Household Income
$46,823
Median Earnings
$1,071
Median Rent
$415,300
Median Home Value
Market
Vacancy Rate% for Multifamily in South region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Multifamily property - Renovated interiors are paired with landscaped grounds, exterior lighting, and sidewalks.
Where is this multifamily property located?
The property is located at 1150 Quaker Avenue Tulsa, OK.
What is the asking price?
The asking price for this property is $2,200,000.
What are key features of this property?
This property features: 12,600‑square‑foot multifamily property; Extensive renovation with updated major components and interior finishes; Originally constructed in 1960
