Flex Space with Retail
For Sale
$515,000
1208 N Mingo Road A, Tulsa, OK 74116
Mixed commercial layout combines warehouse functionality, office space, and a substantial customer-facing retail component.
Property Size3,200 SF
Price / SF$160.94
Days on Market28
Property Features for 1208 N Mingo Road A
General Information
Standard status
Active
Size
3,200 SF
Additional Details
Corner Location
Yes
Building Details
Year Built
2003
Listing Agency:
Norris & Associates
(918) 758-9999
Listed By:
Gregory Norris · License #123466
Source:
Accentrealtors
Added: Aug 3
Changed: Aug 29
Last Checked: Aug 26 at 8:02AM
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
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.
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 = 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
$36,936
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
7.17%
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%
$738,720
$738.7K
Cap Rate 7%
$527,657
$527.7K
Cap Rate 9%
$410,400
$410.4K
Market Conditions
NOI Build-Up for 3,200 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
$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 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%
$738,720
Cap Rate 7%
$527,657
Cap Rate 9%
$410,400
Alternative Uses
Best Use
Office B
$527.7K
$461.7K – $615.6K
NOI $36,936 @ 7.0% cap · market cap 7.17%
Second Best
Retail
$440.1K
$385.1K – $513.4K
NOI $30,804 @ 7.0% cap · market cap 5.98%
Theoretical Best
Office A
$682.5K
$597.2K – $796.3K
NOI $47,776 @ 7.0% cap · market cap 9.28%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
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
Questions? Ask Rey
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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
