Freestanding Retail/Mixed-Use Investment
12620 E 31st St, Tulsa, OK 74146
For Sale
Contact for pricing
Stabilized 8% Cap Rate with Seller Lease-Back
Property Size5,852 SF
Price / SF$128.16
Days on Market253
Property Features for 12620 E 31st St
General Information
Standard status
Size
Class
Property subtype
Zoning
Occupancy
Lease Type
Investment Type
Net Operating Income
Site & Location
Neighborhood
Building Details
Year Built
Year Renovated
Buildings
Stories
Units
Tenancy
Listing Agency:
SVN | OAK Realty Advisors
Listed By:
Dakota Owen · License OK #210600
(832) 769-1128
Source:
Crexi
Added: Mar 3
Changed: Nov 3
Last Checked: Nov 10 at 5:57AM
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 SVN | OAK Realty Advisors
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Investment Insights
Based on property information with market context.
This freestanding retail/mixed-use building is a multi-tenant property currently configured for two separate owner-operated companies. The building has 5,852 square feet of space and is located on a prominent site in southeast Tulsa's established commercial corridor, along E 31st Street. The property is well-maintained and includes a new HVAC system. The roof is older but functional, with no immediate issues reported. The property is currently fully owner-occupied and maintained to high standards. The seller will execute a new 3-year NNN lease-back at $15.00 per square foot, resulting in an annual base rent of approximately $87,780. The tenant will be responsible for all taxes, insurance, CAM, and maintenance. The property is offered at $1,097,250, delivering an 8.0% cap rate on the lease-back NOI. The flexible mixed-use zoning allows for re-tenanting, owner-user occupancy, or adaptive reuse post-lease term. This is a turnkey net lease investment ideal for 1031 exchange buyers, private investors, or net lease funds seeking high-yield, low-effort single-tenant retail exposure in a growing Oklahoma market.
Key Highlights
- Stabilized 8% Cap Rate with Seller Lease‑Back: Enjoy immediate cash flow with the seller leasing back for 3 years.
- Freestanding Retail/Mixed‑Use Building: Offers flexibility for future use thanks to favorable zoning.
- Excellent Condition & Upgrades: Well‑maintained, featuring a new HVAC system.
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$56,334
Cap Rate
7.51%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,126,680
$1.1M
Cap Rate 7%
$804,771
$804.8K
Cap Rate 9%
$625,933
$625.9K
Market Conditions
NOI Build-Up for 5,852 SF
Gross rent
$84.3K $14.40/SF
− Vacancy
−$3.8K −$0.65/SF
EGI
$80.5K $13.75/SF
− OpEx
−$24.1K −$4.13/SF
NOI
$56.3K $9.63/SF
Area
Tulsa, OK
Vacancy
4.50%
Lease Rate
$14.40 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,126,680
Cap Rate 7%
$804,771
Cap Rate 9%
$625,933
Alternative Uses
Best Use
Retail
$804.8K
$704.2K – $938.9K
NOI $56,334 @ 7.0% cap · market cap 7.51%
Second Best
Mixed Use
$790.0K
$691.3K – $921.7K
NOI $55,301 @ 7.0% cap · market cap 7.37%
Theoretical Best
Office A
$1.25M
$1.09M – $1.46M
NOI $87,370 @ 7.0% cap · market cap 11.65%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Who owns this building?
See the owner, sales and loan history
Open Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
292
Businesses Nearby
58k
Monthly Visits Nearby
Explore this area
Business Placement
Foot Traffic Nearby
Shops & Services 56%
Dining 42%
Electronics 1%
QuikTrip
Shops & Services
25,920 visits/mo
0.1 miles
Braum's Ice Cream & Dairy Stores
Dining
11,581 visits/mo
0.2 miles
SONIC Drive In
Dining
5,522 visits/mo
0.2 miles
IHOP
Dining
4,368 visits/mo
0.2 miles
Dollar General
Shops & Services
4,221 visits/mo
0.3 miles
Demographics for 74146, OK
16,427
Population
6,138
Households
2.7
Avg Household Size
29
Median Age
8%
College-Educated
69%
High-School Grad
5.1 sq mi
ZIP Area
3,221
Density / Sq Mi
$43,905
Median Household Income
$30,543
Median Earnings
$831
Median Rent
$134,300
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
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Market
Average Price Trend$/SF for Retail space in Tulsa, OK
Properties on Market for Retail space in Tulsa
Vacancy Rate% for Retail in Tulsa, OK
Frequently Asked Questions
What type of property is this?
Retail space - Stabilized 8% Cap Rate with Seller Lease-Back
Where is this retail space located?
The property is located at 12620 E 31st St Tulsa, OK.
What is the asking price?
The asking price for this property is $750,000.
What are key features of this property?
This property features: Stabilized 8% Cap Rate with Seller Lease‑Back: Enjoy immediate cash flow with the seller leasing back for 3 years.; Freestanding Retail/Mixed‑Use Building: Offers flexibility for future use thanks to favorable zoning.; Excellent Condition & Upgrades: Well‑maintained, featuring a new HVAC system.
