Church Facility with
For Sale
$2,600,000
11710 S Memorial Drive, Bixby, OK 74008
Includes a large kitchen, storage improvements, and paved on-site parking.
Property Size9,870 SF
Lot Size2.48 Acres
Price / SF$263.42
Days on Market216
Property Features for 11710 S Memorial Drive
General Information
Standard status
Active
Size
9,870 SF
Total Parking Spaces
64
Lot size
2.48 Acres
Property subtype
Commercial
Zoning
RS1
Additional Details
Road Access
Yes
Amenities
Large Kitchen
storage shed
chain link fence
Garden shed
Building Details
Building Size
9,870 SF
Year Built
2007
Buildings
1
Listing Agency:
RE/MAX Results
(918) 855-8217
Listed By:
Dara Sullivan · License #172173
(918) 855-8217
Source:
Eufaulaproperties
Added: Jan 5
Changed: Aug 7
Last Checked: Aug 8 at 11:40AM
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.
This church and religious facility occupies a 2.48-acre site with Memorial frontage and two entrances. The 9,870-square-foot building was constructed in 2007 and includes 15 office or classroom spaces, a large kitchen, and storage areas. Additional site improvements include a storage shed, garden shed, chain-link fencing, and paved parking for 64 vehicles.
The property is located at 11710 S Memorial Drive in Bixby, Oklahoma, within a half mile of the retail corridor at 111th and Memorial. RS1 zoning applies to the site. The existing combination of assembly, classroom, office, kitchen, storage, and parking areas provides a substantial institutional facility with multiple interior spaces.
The property is located at 11710 S Memorial Drive in Bixby, Oklahoma, within a half mile of the retail corridor at 111th and Memorial. RS1 zoning applies to the site. The existing combination of assembly, classroom, office, kitchen, storage, and parking areas provides a substantial institutional facility with multiple interior spaces.
Key Highlights
- 2.48‑acre site with Memorial frontage and 2 entrances
- 9,870 SF building constructed in 2007
- 15 office/classroom 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
Current Use
Lease Details
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
66
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?
Church & religious facility - Includes a large kitchen, storage improvements, and paved on-site parking.
Where is this church & religious facility 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 2 entrances; 9,870 SF building constructed in 2007; 15 office/classroom spaces
