Two-Building Restaurant
For Sale
$375,000
6151 E Tecumseh St, Tulsa, OK 74115
Restaurant property in great condition with two separate utility meters for flexible single or dual-tenant use.
Property Size2,384 SF
Price / SF$157.30
Days on Market121
Property Features for 6151 E Tecumseh St
General Information
Standard status
Active
Size
2,384 SF
Building Details
Year Built
2016
Listing Agency:
Coldwell Banker Select
Listed By:
Angela Y Alred · License #104451
Source:
Accentrealtors
Added: May 8
Changed: Aug 24
Last Checked: Sep 5 at 10:13AM
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 Coldwell Banker Select
Investment Insights
Based on property information with market context.
This restaurant property is offered for sale as two buildings and is described as being in great condition. The buildings feature two separate utility meters, which can be combined as needed for one operation, or used to support separate occupancy. One side can operate as a restaurant while the other side can be leased for additional income.
The property is located at 6151 E Tecumseh Street in Tulsa, OK. The listing price is for both buildings together.
The property is located at 6151 E Tecumseh Street in Tulsa, OK. The listing price is for both buildings together.
Key Highlights
- Year built 2016 restaurant property in great condition
- Two separate utility meters for flexible single- or dual‑tenant use
- Can be operated as one business or set up as restaurant on one side and lease the other side
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
$26,917
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
7.18%
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%
$538,340
$538.3K
Cap Rate 7%
$384,529
$384.5K
Cap Rate 9%
$299,078
$299.1K
Market Conditions
NOI Build-Up for 2,384 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
$37.2K $15.60/SF
− Vacancy
−$1.3K −$0.55/SF
EGI
$35.9K $15.05/SF
− OpEx
−$9.0K −$3.76/SF
NOI
$26.9K $11.29/SF
Area
Tulsa, OK
Vacancy
3.50%
Lease Rate
$15.60 /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%
$538,340
Cap Rate 7%
$384,529
Cap Rate 9%
$299,078
Alternative Uses
Best Use
Specialty Retail
$384.5K
$336.5K – $448.6K
NOI $26,917 @ 7.0% cap · market cap 7.18%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$508.5K
$444.9K – $593.2K
NOI $35,593 @ 7.0% cap · market cap 9.49%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
277
Businesses Nearby
1k
Monthly Visits Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Foot Traffic Nearby
Electronics 100%
Cricket Wireless Authorized Retailer
Electronics
1,149 visits/mo
0.4 miles
Demographics for 74115, OK
24,461
Population
9,583
Households
2.6
Avg Household Size
32
Median Age
9%
College-Educated
72%
High-School Grad
16.0 sq mi
ZIP Area
1,529
Density / Sq Mi
$43,111
Median Household Income
$27,179
Median Earnings
$987
Median Rent
$74,900
Median Home Value
Market
Vacancy Rate% for Retail in Tulsa, OK
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Conventional restaurant - Restaurant property in great condition with two separate utility meters for flexible single or dual-tenant use.
Where is this conventional restaurant located?
The property is located at 6151 E Tecumseh St Tulsa, OK.
What is the asking price?
The asking price for this property is $375,000.
What are key features of this property?
This property features: Year built 2016 restaurant property in great condition; Two separate utility meters for flexible single- or dual‑tenant use; Can be operated as one business or set up as restaurant on one side and lease the other side
