4971 S Memorial Dr, Tulsa, OK
Retail property featuring a corporate-guaranteed lease with increases.
- Added:
- Jun 15, 2023
- Days on Market:
- 1096
- Last Refresh:
- May 20 at 8:31 pm
Property Features for 4971 S Memorial Dr
General Information
- Standard status
- Active
- Size
- 13,500 SF
- Lot size
- 0.90 Acres
- Property subtype
- RETAIL
Listing agent Steve Greer License #LA995710346 (225) 329-8385
Listing office Marcus & Millichap (225) 329-8385
Listing date Jun 15, 2023
Source Moodyscre
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 Marcus & Millichap
HighLights
- Corporate Guaranteed Lease by Walgreens Boots Alliance (NASDAQ: WBA)
- Recent 10 Year Lease Extension
- 10+ Years Remaining Lease Term
- 8.57% Increase in Year 6
- 10% Increases at Options Thereafter
- 5.26% Increase at Renewal
Overview
Local Financial Insights For Specialty Retail
Simulate Cap Rate and NOI
NOI Build-Up
- 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.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $210.6k | $15.60 |
| − Vacancy | −$7.4k | −$0.55 |
| EGI | $203.2k | $15.05 |
| − OpEx | −$50.8k | −$3.76 |
| NOI | $152.4k | $11.29 |
Alternative Uses
Current Use by Public Records
Similar Places Nearby
- The Hub — 12800 s memorial dr suite a, bixby, ok 74008
Location Insight
- Map
- Local Demand
- City
- Tulsa
- County
- Creek
- State
- Oklahoma
- Longitude
- -95.8865
- Latitude
- 36.0918
