Tulsa Flex Space on
For Sale
$999,000
6431 Frankoma Road, Tulsa, OK 74131
Flex space with room for growth on 10 acres.
Property Size9,250 SF
Lot Size10.10 Acres
Price / SF$108
Days on Market141
Property Features for 6431 Frankoma Road
General Information
Standard status
Active
Size
9,250 SF
Lot size
10.10 Acres
Property subtype
Industrial
Listing Agency:
CBRE - Tulsa
(918) 392-7249
Listed By:
Dwayne Flynn
(918) 392-7249
Source:
Cbre
Added: Mar 25
Changed: Jul 10
Last Checked: Aug 11 at 4:25PM
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 CBRE - Tulsa
Investment Insights
Based on property information with market context.
This property features 10± acres in a park-like setting. The site includes a 7,500± SF main building, a 1,750± SF secondary shell building, and ample room for additional growth. The property is conveniently located between west Tulsa and Sapulpa on Frankoma Road. The main building has 6,000± SF of space and a 1,500± SF open office area. It features a clear span layout, (3) 10' x 10' drive-in doors, and (1) 14' x 14' drive-in/dock-high door, along with an interior dock. The building is fully climate controlled and includes a new electrical panel with 3-phase, 480v, 600amp service, 7' liner panel, and LED lighting. It is also fully insulated with 11' to 14' clear height and concrete and asphalt parking. The secondary building is a 1,750± SF shell building with (2) 12' x 14' drive-in doors and a 14'± clear height. It has power and utilities, as well as a restroom. The site is 10.1± acres, fully fenced with a gated entrance. A 40' x 100' Quonset hut will remain. The property is located in Creek County and has commercial zoning.
Key Highlights
- 10.1± Acre Site: Offers ample space for various uses and future expansion.
- 7,500± SF Main Building: Provides a substantial, versatile space for operations.
- New Electrical Panel: Equipped with 3‑Phase, 480v, 600amp service, suitable for heavy power demands.
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
$53,997
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
5.41%
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%
$1,079,940
$1.1M
Cap Rate 7%
$771,386
$771.4K
Cap Rate 9%
$599,967
$600.0K
Market Conditions
NOI Build-Up for 9,250 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
$65.5K $7.08/SF
− Vacancy
−$2.0K −$0.21/SF
EGI
$63.5K $6.87/SF
− OpEx
−$9.5K −$1.03/SF
NOI
$54.0K $5.84/SF
Area
Tulsa, OK
Vacancy
3.00%
Lease Rate
$7.08 /SF/Yr
Expense Ratio
15.00%
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%
$1,079,940
Cap Rate 7%
$771,386
Cap Rate 9%
$599,967
Alternative Uses
Best Use
Warehouse
$771.4K
$675.0K – $900.0K
NOI $53,997 @ 7.0% cap · market cap 5.41%
Second Best
Flex RnD
$685.4K
$599.8K – $799.7K
NOI $47,980 @ 7.0% cap · market cap 4.80%
Theoretical Best
Office A
$1.97M
$1.73M – $2.30M
NOI $138,102 @ 7.0% cap · market cap 13.82%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
27
Businesses Nearby
Well-served
Demand for This Use
Explore this area
Business Placement
Demographics for 74131, OK
2,988
Population
1,078
Households
2.8
Avg Household Size
41
Median Age
26%
College-Educated
85%
High-School Grad
9.6 sq mi
ZIP Area
311
Density / Sq Mi
$64,653
Median Household Income
$47,240
Median Earnings
$1,048
Median Rent
$188,500
Median Home Value
Market
Vacancy Rate% for Industrial in Tulsa, OK
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Flex space - Flex space with room for growth on 10 acres.
Where is this flex space located?
The property is located at 6431 Frankoma Road Tulsa, OK.
What is the asking price?
The asking price for this property is $999,000.
What are key features of this property?
This property features: 10.1± Acre Site: Offers ample space for various uses and future expansion.; 7,500± SF Main Building: Provides a substantial, versatile space for operations.; New Electrical Panel: Equipped with 3‑Phase, 480v, 600amp service, suitable for heavy power demands.
