Church Facility with Office/Classroom
For Sale
$2,600,000
11710 S Memorial Dr, Bixby, OK 74008
Church facility with paved parking, a full metal roof, large kitchen, and flexible office/classroom areas.
Property Size9,870 SF
Lot Size2.48 Acres
Price / SF$263.42
Days on Market21
Property Features for 11710 S Memorial Dr
General Information
Standard status
Active
Size
9,870 SF
Total Parking Spaces
64
Lot size
2.48 Acres
Additional Details
Office Units
15
Amenities
Large Kitchen
storage shed
chain link fence
Garden shed
Building Details
Year Built
2007
Building Size
9,870 SF
Listing Agency:
RE/MAX Results
(918) 855-8217
Listed By:
Dara Sullivan · License #172173
Source:
Theashleygroupok
Added: Aug 9
Changed: Aug 28
Last Checked: Aug 25 at 5:36AM
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 RE/MAX Results
Investment Insights
Based on property information with market context.
Built in 2007, this church facility includes 9,870 square feet on a 2.48-acre property. The building has a full metal roof, a large kitchen, and 15 office or classroom spaces supported by storage areas. Additional site improvements include a storage shed, garden shed, chain-link fencing, and paved parking with room for 64 spaces.
The property is located at 11710 S Memorial Dr in Bixby, Oklahoma, with Memorial frontage and two entrances. It is within a half mile of the retail corridor at 111th and Memorial. The existing layout and site features may support continued religious use or consideration of conference, school, or shared-office concepts, subject to applicable approvals.
The property is located at 11710 S Memorial Dr in Bixby, Oklahoma, with Memorial frontage and two entrances. It is within a half mile of the retail corridor at 111th and Memorial. The existing layout and site features may support continued religious use or consideration of conference, school, or shared-office concepts, subject to applicable approvals.
Key Highlights
- 9,870‑square‑foot church facility built in 2007
- 2.48‑acre site with Memorial frontage and 2 entrances
- Paved parking with room for 64 spaces
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
$121,669
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
4.68%
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%
$2,433,380
$2.4M
Cap Rate 7%
$1,738,129
$1.7M
Cap Rate 9%
$1,351,878
$1.4M
Market Conditions
NOI Build-Up for 9,870 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
$184.8K $18.72/SF
− Vacancy
−$22.5K −$2.28/SF
EGI
$162.2K $16.44/SF
− OpEx
−$40.6K −$4.11/SF
NOI
$121.7K $12.33/SF
Area
Tulsa County, OK
Vacancy
12.20%
Lease Rate
$18.72 /SF/Yr
Expense Ratio
25.00%
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%
$2,433,380
Cap Rate 7%
$1,738,129
Cap Rate 9%
$1,351,878
Alternative Uses
Best Use
Office B
$1.74M
$1.52M – $2.03M
NOI $121,669 @ 7.0% cap · market cap 4.68%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$2.22M
$1.95M – $2.60M
NOI $155,710 @ 7.0% cap · market cap 5.99%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
15
Office units
Location Intelligence
Trade Area within ½ mile
246
Businesses Nearby
Explore this area
Business Placement
Demographics for 74008, OK
31,745
Population
12,447
Households
2.6
Avg Household Size
36
Median Age
44%
College-Educated
95%
High-School Grad
74.3 sq mi
ZIP Area
427
Density / Sq Mi
$95,476
Median Household Income
$48,691
Median Earnings
$1,302
Median Rent
$303,200
Median Home Value
Market
Vacancy Rate% for Office in South region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Church & religious facility - Church facility with paved parking, a full metal roof, large kitchen, and flexible office/classroom areas.
Where is this church & religious facility located?
The property is located at 11710 S Memorial Dr Bixby, OK.
What is the asking price?
The asking price for this property is $2,600,000.
What are key features of this property?
This property features: 9,870‑square‑foot church facility built in 2007; 2.48‑acre site with Memorial frontage and 2 entrances; Paved parking with room for 64 spaces
