Office Building with Two
For Sale
$2,600,000
11710 S Memorial Drive, Bixby, OK 74008
COMMERCIAL - Bixby, OK
Property Size9,870 SF
Lot Size2.48 Acres
Price / SF$263.42
Days on Market227
Property Features for 11710 S Memorial Drive
General Information
Property type
Commercial Sale
Property subtype
Other
Zoning
RS1
Interior features
High Speed Internet, Mini-Kitchen, Smoke Detector, Vaulted Ceiling
Exterior features
Pole Sign, Sidewalk
Fencing
Chain Link
Subdivision
North Heights addn
Elementary school district
Bixby - Sch Dist (4)
Middle school district
Bixby - Sch Dist (4)
High school district
Bixby - Sch Dist (4)
Directions
111th and Memorial. Proceed south and turn right (west) at 117th.
Standard status
Active
APN
57875-83-35-00900
Size
9,870 SF
Lot size
2.48 Acres
Taxes and HOA fees
Tax Year
2025
Tax Description
LTS 1 THRU 4 LESS E10 LT 1 & VAC 117 PL ADJ ON N THEREOF BLK 7
Legal Description
LTS 1 THRU 4 LESS E10 LT 1 & VAC 117 PL ADJ ON N THEREOF BLK 7
Building Details
Year built
2007
Flooring type
Carpet, Tile
Building materials
Steel
Roof type
Metal
Listing Agency:
RE/MAX Results · RE/MAX International
(918) 254-0600
Listed By:
Dara Sullivan · License #172173
(918) 855-8217
Added: Jan 5
Changed: Aug 4
Last Checked: Aug 20 at 10:06AM
MLS# 2551032
Copyright © 2026 MLS Technology, Inc. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
Office building on 2.48 acres featuring two entrances and paved parking with room for 64 spaces. The 9,870 SF building, built in 2007, has steel construction with a full metal roof. Interior features include high-speed internet, a mini-kitchen, vaulted ceilings, smoke detectors, tile and carpet flooring, and a large kitchen.
The site includes Memorial frontage and is within a half mile of a retail corridor at 111th & Memorial. Exterior features include a pole sign, sidewalk, storage shed, garden shed, and a chain link fence.
The current layout includes 15 office/classroom spaces, plus storage. The property offers operational flexibility, including potential conversion to a conference center, private school, or office sharing.
The site includes Memorial frontage and is within a half mile of a retail corridor at 111th & Memorial. Exterior features include a pole sign, sidewalk, storage shed, garden shed, and a chain link fence.
The current layout includes 15 office/classroom spaces, plus storage. The property offers operational flexibility, including potential conversion to a conference center, private school, or office sharing.
Key Highlights
- 2.48‑acre site with Memorial frontage and two entrances
- Paved parking with room for 64 spaces
- 9,870 SF office building built in 2007 with steel construction
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
Yes
Paved road access
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
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Office building - Office building on 2.48 acres with paved parking, 15 office/classroom spaces, and two entrances off Memorial Drive.
Where is this office building located?
The property is located at 11710 S Memorial Drive 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: 2.48‑acre site with Memorial frontage and two entrances; Paved parking with room for 64 spaces; 9,870 SF office building built in 2007 with steel construction
