Class A Medical Office
For Sale
Contact for pricing
3311 E 46th St, Tulsa, OK 74135
Class A medical building with current 4,800 SF occupied space and 4,950 SF vacant shell available for tenant use.
Property Size9,750 SF
Price / SF$266.67
Days on Market736
Property Features for 3311 E 46th St
General Information
Standard status
Active
Size
9,750 SF
Class
A
Property subtype
OFFICE
Occupancy
49%
Additional Details
Sprinkler System
Yes
Listing Agency:
Equitas Realty Advisors LLC
(918) 280-9900
Listed By:
Monty Berry · License #83879
(918) 695-4162
Source:
Moodyscre
Added: Sep 10, 2024
Changed: Sep 10
Last Checked: Sep 14 at 12:18PM
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 Equitas Realty Advisors LLC
Investment Insights
Based on property information with market context.
Contemporary Class A medical office building located at 3311 E 46th St, Tulsa, OK 74135, designed in 2019 with decorative insulated metal panels and a buff brick exterior, along with interior steel framing. The property includes a fully sprinklered wet pipe system. The building totals 9,750 SF, with the current seller occupant occupying 4,800 SF and 4,950 SF of vacant shell space available for a new user or tenant.
For sale with an available NNN leaseback to the seller’s tenant, RWL Bariatric Management dba Roller Weight Loss + Advanced Surgery. The leaseback reflects 14 years remaining, with the lease expiring December 31, 2038, and rents averaging $33.90/SF (stated as $162,730 annual income). The seller’s tenant would vacate if needed for a full-building user with 120 days’ notice, and the seller would consider relocating the tenant to the vacant back shell space, with build-out costs borne by the buyer.
For sale with an available NNN leaseback to the seller’s tenant, RWL Bariatric Management dba Roller Weight Loss + Advanced Surgery. The leaseback reflects 14 years remaining, with the lease expiring December 31, 2038, and rents averaging $33.90/SF (stated as $162,730 annual income). The seller’s tenant would vacate if needed for a full-building user with 120 days’ notice, and the seller would consider relocating the tenant to the vacant back shell space, with build-out costs borne by the buyer.
Key Highlights
- 9,750 SF Class A midtown medical building with 4,800 SF occupied by seller tenant and 4,950 SF vacant shell space available
- 14‑year NNN leaseback with 9,750 SF building; remaining term expires December 31, 2038
- NNN lease rents averaging $33.90/SF or $162,730 annual income, with RWL Bariatric Management dba Roller Weight Loss + Advanced Surgery as tenant
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
$112,539
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
4.33%
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%
$2,250,780
$2.3M
Cap Rate 7%
$1,607,700
$1.6M
Cap Rate 9%
$1,250,433
$1.3M
Market Conditions
NOI Build-Up for 9,750 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
$175.5K $18.00/SF
− Vacancy
−$25.4K −$2.61/SF
EGI
$150.1K $15.39/SF
− OpEx
−$37.5K −$3.85/SF
NOI
$112.5K $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%
$2,250,780
Cap Rate 7%
$1,607,700
Cap Rate 9%
$1,250,433
Alternative Uses
Best Use
Office B
$1.61M
$1.41M – $1.88M
NOI $112,539 @ 7.0% cap · market cap 4.33%
Second Best
Healthcare Medical
$1.57M
$1.37M – $1.83M
NOI $109,793 @ 7.0% cap · market cap 4.22%
Theoretical Best
Office A
$2.08M
$1.82M – $2.43M
NOI $145,567 @ 7.0% cap · market cap 5.60%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
Current Use
Lease Details
49.2%
Occupancy
Yes
Sprinkler system
Location Intelligence
Trade Area within ½ mile
1,317
Businesses Nearby
Balanced
Demand for This Use
Explore this area
Business Placement
Demographics for 74135, OK
20,173
Population
10,855
Households
1.9
Avg Household Size
40
Median Age
47%
College-Educated
95%
High-School Grad
6.1 sq mi
ZIP Area
3,307
Density / Sq Mi
$60,942
Median Household Income
$43,835
Median Earnings
$900
Median Rent
$230,700
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Office in Tulsa, OK
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Frequently Asked Questions
What type of property is this?
Medical Office Space - Class A medical building with current 4,800 SF occupied space and 4,950 SF vacant shell available for tenant use.
Where is this medical office space located?
The property is located at 3311 E 46th St Tulsa, OK.
What is the asking price?
The asking price for this property is $2,600,000.
What are key features of this property?
This property features: 9,750 SF Class A midtown medical building with 4,800 SF occupied by seller tenant and 4,950 SF vacant shell space available; 14‑year NNN leaseback with 9,750 SF building; remaining term expires December 31, 2038; NNN lease rents averaging $33.90/SF or $162,730 annual income, with RWL Bariatric Management dba Roller Weight Loss + Advanced Surgery as tenant
