NNN Property with Medical
For Sale
Contact for pricing
11982 S Mulberry Ct, Jenks, OK 74037
Recently constructed healthcare facility occupied by Therapy and Beyond under an NNN lease structure.
Property Size8,400 SF
Price / SF$226.55
Days on Market178
Property Features for 11982 S Mulberry Ct
General Information
Standard status
Active
Size
8,400 SF
Property subtype
Office, Retail
Occupancy
100%
Lease Type
NNN
Investment Type
Net Lease
Net Operating Income
$133,172
Building Details
Year Built
2022
Buildings
1
Stories
1
Tenancy
Single
Listing Agency:
Colliers - Tulsa, Oklahoma
Listed By:
Colin Cornell · License #OK 171700
Source:
Crexi
Added: Mar 6
Changed: Aug 29
Last Checked: Aug 29 at 11:16PM
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 Colliers - Tulsa, Oklahoma
Investment Insights
Based on property information with market context.
Completed in 2022, this 8,400 SF medical office property is configured for Therapy and Beyond, an ABA therapy provider with 10 locations across Texas and Oklahoma. The facility is offered with an NNN lease that includes 2% annual increases and 6.5 years remaining on the current term.
Located at 11982 S Mulberry Ct in Jenks, Oklahoma, the property provides a purpose-built healthcare setting for its existing operator. The offering combines a recently constructed medical office with an established tenant and defined lease-term economics, including a 2% annual escalation.
Located at 11982 S Mulberry Ct in Jenks, Oklahoma, the property provides a purpose-built healthcare setting for its existing operator. The offering combines a recently constructed medical office with an established tenant and defined lease-term economics, including a 2% annual escalation.
Key Highlights
- 2022 construction with 8,400 SF of medical office space
- NNN lease includes 2% annual increases
- 6.5 years remaining on the lease
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
$103,548
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
5.44%
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%
$2,070,960
$2.1M
Cap Rate 7%
$1,479,257
$1.5M
Cap Rate 9%
$1,150,533
$1.2M
Market Conditions
NOI Build-Up for 8,400 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
$157.2K $18.72/SF
− Vacancy
−$19.2K −$2.28/SF
EGI
$138.1K $16.44/SF
− OpEx
−$34.5K −$4.11/SF
NOI
$103.5K $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%
$2,070,960
Cap Rate 7%
$1,479,257
Cap Rate 9%
$1,150,533
Alternative Uses
Best Use
Office B
$1.48M
$1.29M – $1.73M
NOI $103,548 @ 7.0% cap · market cap 5.44%
Second Best
Healthcare Medical
$1.40M
$1.22M – $1.63M
NOI $97,651 @ 7.0% cap · market cap 5.13%
Theoretical Best
Office A
$1.89M
$1.66M – $2.21M
NOI $132,519 @ 7.0% cap · market cap 6.96%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
105
Businesses Nearby
Explore this area
Business Placement
Demographics for 74037, OK
23,727
Population
8,811
Households
2.7
Avg Household Size
35
Median Age
47%
College-Educated
92%
High-School Grad
16.2 sq mi
ZIP Area
1,465
Density / Sq Mi
$101,573
Median Household Income
$53,608
Median Earnings
$1,565
Median Rent
$267,400
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?
NNN property - Recently constructed healthcare facility occupied by Therapy and Beyond under an NNN lease structure.
Where is this nnn property located?
The property is located at 11982 S Mulberry Ct Jenks, OK.
What is the asking price?
The asking price for this property is $1,903,000.
What are key features of this property?
This property features: 2022 construction with 8,400 SF of medical office space; NNN lease includes 2% annual increases; 6.5 years remaining on the lease
