Historic Restored Office
For Sale
Contact for pricing
1306 S Denver Ave, Tulsa, OK 74119
Restored historic office building outside Tulsa’s CBD, originally built as a mid-1920s apartment structure.
Property Size8,300 SF
Price / SF$216.87
Days on Market142
Property Features for 1306 S Denver Ave
General Information
Standard status
Active
Size
8,300 SF
Property subtype
OFFICE
Building Details
Buildings
1
Building Size
8,300 SF
Listing Agency:
CBRE | Tulsa
(918) 557-2231
Listed By:
Leslie Kirkpatrick
(918) 557-2231
Source:
Moodyscre
Added: Mar 24
Changed: Aug 11
Last Checked: Aug 11 at 3:03AM
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.
The PalaDora office building is a restored historic property originally built as a mid-1920s apartment building. The building contains approximately 8,300 SF and has been restored to accommodate modern office needs, offering a distinctive, history-forward setting for office users.
Located just outside Tulsa’s CBD District, the property also benefits from close proximity to Downtown Tulsa and major transportation routes, supporting access to the city’s key amenities and attractions.
This opportunity is positioned for office occupancy where a smaller, restored historic building format aligns with day-to-day operational needs and branding preferences.
Located just outside Tulsa’s CBD District, the property also benefits from close proximity to Downtown Tulsa and major transportation routes, supporting access to the city’s key amenities and attractions.
This opportunity is positioned for office occupancy where a smaller, restored historic building format aligns with day-to-day operational needs and branding preferences.
Key Highlights
- Approximately 8,300 SF restored office building
- Originally built as a mid‑1920s apartment building
- Restored to accommodate modern office needs
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
$95,803
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
5.32%
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%
$1,916,060
$1.9M
Cap Rate 7%
$1,368,614
$1.4M
Cap Rate 9%
$1,064,478
$1.1M
Market Conditions
NOI Build-Up for 8,300 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
$149.4K $18.00/SF
− Vacancy
−$21.7K −$2.61/SF
EGI
$127.7K $15.39/SF
− OpEx
−$31.9K −$3.85/SF
NOI
$95.8K $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%
$1,916,060
Cap Rate 7%
$1,368,614
Cap Rate 9%
$1,064,478
Alternative Uses
Best Use
Office B
$1.37M
$1.20M – $1.60M
NOI $95,803 @ 7.0% cap · market cap 5.32%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.77M
$1.55M – $2.07M
NOI $123,918 @ 7.0% cap · market cap 6.88%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
2,767
Businesses Nearby
Explore this area
Business Placement
Demographics for 74119, OK
3,445
Population
3,229
Households
1.1
Avg Household Size
40
Median Age
55%
College-Educated
95%
High-School Grad
0.8 sq mi
ZIP Area
4,306
Density / Sq Mi
$56,520
Median Household Income
$48,192
Median Earnings
$1,161
Median Rent
$207,500
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?
Office building - Restored historic office building outside Tulsa’s CBD, originally built as a mid-1920s apartment structure.
Where is this office building located?
The property is located at 1306 S Denver Ave Tulsa, OK.
What is the asking price?
The asking price for this property is $1,800,000.
What are key features of this property?
This property features: Approximately 8,300 SF restored office building; Originally built as a mid‑1920s apartment building; Restored to accommodate modern office needs
