Building Details

Year Built 2003

Listing Agency: Norris & Associates

Listed By: Gregory Norris · License #123466 Show Phone

Source: Accentrealtors

Added: Aug 3 Changed: Oct 14 Last Checked: Oct 15 at 4:51AM

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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 Norris & Associates

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Investment Insights

Based on property information with market context.

This 3,200-square-foot flex property, built in 2003, combines warehouse space with offices and a substantial retail area. The mixed-use interior supports both operational and customer-facing functions within one commercial building.

The property occupies a large corner lot at 1208 N Mingo Road A in Tulsa, with paved parking. It is positioned near industrial areas and the airport, adding context for businesses seeking a location with access to established commercial activity and air transportation.

Key Highlights

• 3,200‑square‑foot flex property built in 2003
• Warehouse area with dedicated offices
• Large retail area within the building

Financial Insights

Estimated NOI and Cap Rate

NOI / Yr

$36,936

Cap Rate

7.17%

Suggested Prices Based on Cap Rates

Cap Rate 5%

$738,720 $738.7K

Cap Rate 7%

$527,657 $527.7K

Cap Rate 9%

$410,400 $410.4K

Is this asking price fair?

Market Conditions

NOI Build-Up for 3,200 SF

Gross rent

$57.6K $18.00/SF

− Vacancy

−$8.4K −$2.61/SF

EGI

$49.2K $15.39/SF

− OpEx

−$12.3K −$3.85/SF

NOI

$36.9K $11.54/SF

Area

Tulsa, OK

Vacancy

14.50%

Lease Rate

$18.00 /SF/Yr

Expense Ratio

25.00%

Simulate Cap Rate and NOI

Suggested Prices Based on Cap Rates

Cap Rate 5%

$738,720

Cap Rate 7%

$527,657

Cap Rate 9%

$410,400

Alternative Uses

Best Use

Office B

$527.7K

$461.7K – $615.6K (±1% cap)

NOI $36,936 @ 7.0% cap · market cap 7.17%

Second Best

Retail

$440.1K

$385.1K – $513.4K (±1% cap)

NOI $30,804 @ 7.0% cap · market cap 5.98%

Theoretical Best

Office A

$682.5K

$597.2K – $796.3K (±1% cap)

NOI $47,776 @ 7.0% cap · market cap 9.28%

Zoning and permitted uses should be independently verified with authorities. How Realmo checks its estimates

Property Analytics

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Current Use

918 Buds Supercenter (Bike/Boat/Book/etc) Store

Suggested Use

Top Pick Real Estate Agency Law Firm Restaurant Spa & Massage Center Pharmacy HVAC Service

Score = modeled unmet demand for each use within ~1 mi (higher = bigger opportunity). Zoning and permitted uses should be independently verified with local authorities.

Location Intelligence

Trade Area within ½ mile

202

Businesses Nearby

Under-served

Demand for This Use

Explore this area Business Placement

Demographics for 74116, OK

4,069

Population

1,665

Households

2.4

Avg Household Size

35

Median Age

9%

College-Educated

75%

High-School Grad

18.0 sq mi

ZIP Area

226

Density / Sq Mi

$56,296

Median Household Income

$34,938

Median Earnings

$783

Median Rent

$137,500

Median Home Value

Market

Vacancy Rate% for Office in Tulsa, OK

10.4% 2019

11.7% 2020

12.1% 2021

11.9% 2022

10.4% 2023

9.2% 2024

10.6% 2025

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Frequently Asked Questions

What type of property is this?

Flex space - Mixed commercial layout combines warehouse functionality, office space, and a substantial customer-facing retail component.

Where is this flex space located?

The property is located at 1208 N Mingo Road A Tulsa, OK.

What is the asking price?

The asking price for this property is $515,000.

What are key features of this property?

This property features: 3,200‑square‑foot flex property built in 2003; Warehouse area with dedicated offices; Large retail area within the building