Gated New Construction
For Sale
$529,000
1308 Martin Luther King Jr Boulevard, Tulsa, OK 74106
New construction quadplex with gated powered access, four one-bedroom units, and a shared four-car carport.
Property Size2,880 SF
Price / SF$183.68
Days on Market26
Property Features for 1308 Martin Luther King Jr Boulevard
General Information
Standard status
Active
Size
2,880 SF
Total Parking Spaces
4
Property subtype
Multi-Family
Additional Details
Multifamily Units
4
Amenities
gated complex
Building Details
Year Built
2026
Listing Agency:
Oak & Sage Realty
(918) 995-1367
Listed By:
Greg Robbins · License #202435
Source:
Accentrealtors
Added: Jul 27
Changed: Aug 10
Last Checked: Aug 21 at 9:34AM
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 Oak & Sage Realty
Investment Insights
Based on property information with market context.
New construction quadplex featuring an open-floor concept in each unit, with 1 bedroom and 1 modern bathroom. Interiors include stainless steel kitchen appliances, granite countertops, a tankless electric water heater, and a ventless all-in-one washer/dryer.
The complex is fully gated with powered gates on each side, supporting controlled access for residents. A 4-car carport is included for off-street parking.
Located at 1308 Martin Luther King Jr Boulevard in Tulsa, the property is described as less than 5 minutes from the Arts District in downtown Tulsa.
The complex is fully gated with powered gates on each side, supporting controlled access for residents. A 4-car carport is included for off-street parking.
Located at 1308 Martin Luther King Jr Boulevard in Tulsa, the property is described as less than 5 minutes from the Arts District in downtown Tulsa.
Key Highlights
- New construction quadplex built in 2026
- Four 1‑bedroom, 1‑bath units with open‑floor concept layouts
- Each unit includes stainless steel kitchen appliances and granite countertops
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
$28,055
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
5.30%
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%
$561,100
$561.1K
Cap Rate 7%
$400,786
$400.8K
Cap Rate 9%
$311,722
$311.7K
Market Conditions
NOI Build-Up for 2,880 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
$44.2K $15.36/SF
− Vacancy
−$4.2K −$1.44/SF
EGI
$40.1K $13.92/SF
− OpEx
−$12.0K −$4.17/SF
NOI
$28.1K $9.74/SF
Area
Tulsa, OK
Vacancy
9.40%
Lease Rate
$15.36 /SF/Yr
Expense Ratio
30.00%
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%
$561,100
Cap Rate 7%
$400,786
Cap Rate 9%
$311,722
Alternative Uses
Best Use
Multifamily LT 5
$400.8K
$350.7K – $467.6K
NOI $28,055 @ 7.0% cap · market cap 5.30%
Second Best
Apartment 5plus
$367.0K
$321.1K – $428.2K
NOI $25,689 @ 7.0% cap · market cap 4.86%
Theoretical Best
Office A
$614.3K
$537.5K – $716.6K
NOI $42,998 @ 7.0% cap · market cap 8.13%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
4
Residential units
Location Intelligence
Trade Area within ½ mile
232
Businesses Nearby
Explore this area
Business Placement
Demographics for 74106, OK
16,805
Population
8,341
Households
2
Avg Household Size
35
Median Age
17%
College-Educated
83%
High-School Grad
7.6 sq mi
ZIP Area
2,211
Density / Sq Mi
$37,714
Median Household Income
$31,022
Median Earnings
$816
Median Rent
$98,900
Median Home Value
Market
Vacancy Rate% for Multifamily in South region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Quadplex - New construction quadplex with gated powered access, four one-bedroom units, and a shared four-car carport.
Where is this quadplex located?
The property is located at 1308 Martin Luther King Jr Boulevard Tulsa, OK.
What is the asking price?
The asking price for this property is $529,000.
What are key features of this property?
This property features: New construction quadplex built in 2026; Four 1‑bedroom, 1‑bath units with open‑floor concept layouts; Each unit includes stainless steel kitchen appliances and granite countertops
