Climate-Controlled Flex
For Sale
Contact for pricing
7648 E 46th Pl, Tulsa, OK 74145
Industrial Light-zoned property with loading access, office components, and a rear hard-surfaced yard.
Property Size1,650 SF
Lot Size0.23 Acres
Price / SF$272.73
Days on Market683
Property Features for 7648 E 46th Pl
General Information
Standard status
Active
Size
1,650 SF
Lot size
0.23 Acres
Property subtype
RETAIL
Zoning
Industrial Light
Site & Location
Road Access
Yes
Outdoor Storage
Yes
Additional Details
Conditioned Warehouse
Yes
Listing Agency:
Wiggin Properties - Tulsa
(918) 935-2010
Listed By:
Shawna Hale, CCIM
(918) 282-8664
Source:
Moodyscre
Added: Oct 21, 2024
Changed: Aug 30
Last Checked: Sep 2 at 2:44PM
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 Wiggin Properties - Tulsa
Investment Insights
Based on property information with market context.
This 1,650-square-foot flex property occupies approximately 0.23 acres and combines a reception area, two private offices, a break room, and a large climate-controlled assembly room. The building is fully climate controlled and includes double-door loading access for material movement. A small hard-surfaced yard is located behind the building.
Positioned at 7648 E 46th Pl in Tulsa, the property offers approximately 50 feet of frontage along 46th Place. Industrial Light zoning supports its current flex-oriented configuration, while an income-producing cell tower lease is included with the sale.
Positioned at 7648 E 46th Pl in Tulsa, the property offers approximately 50 feet of frontage along 46th Place. Industrial Light zoning supports its current flex-oriented configuration, while an income-producing cell tower lease is included with the sale.
Key Highlights
- 1,650 SF flex property on ±0.23 acres
- Large climate‑controlled assembly room plus fully climate‑controlled building
- Reception area, (2) private offices, and break room
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
$19,045
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
4.23%
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%
$380,900
$380.9K
Cap Rate 7%
$272,071
$272.1K
Cap Rate 9%
$211,611
$211.6K
Market Conditions
NOI Build-Up for 1,650 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
$29.7K $18.00/SF
− Vacancy
−$4.3K −$2.61/SF
EGI
$25.4K $15.39/SF
− OpEx
−$6.3K −$3.85/SF
NOI
$19.0K $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%
$380,900
Cap Rate 7%
$272,071
Cap Rate 9%
$211,611
Alternative Uses
Best Use
Office B
$272.1K
$238.1K – $317.4K
NOI $19,045 @ 7.0% cap · market cap 4.23%
Second Best
Flex RnD
$122.3K
$107.0K – $142.7K
NOI $8,559 @ 7.0% cap · market cap 1.90%
Theoretical Best
Office A
$351.9K
$307.9K – $410.6K
NOI $24,634 @ 7.0% cap · market cap 5.47%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
1,194
Businesses Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Demographics for 74145, OK
18,055
Population
8,523
Households
2.1
Avg Household Size
36
Median Age
27%
College-Educated
90%
High-School Grad
5.9 sq mi
ZIP Area
3,060
Density / Sq Mi
$55,118
Median Household Income
$37,021
Median Earnings
$1,039
Median Rent
$160,700
Median Home Value
Market
Vacancy Rate% for Office in Tulsa, OK
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Similar Off Market Nearby
- Tulsa Catering Services — 4864 S 71st E Ave, Tulsa, OK 74145
Frequently Asked Questions
What type of property is this?
Flex space - Industrial Light-zoned property with loading access, office components, and a rear hard-surfaced yard.
Where is this flex space located?
The property is located at 7648 E 46th Pl Tulsa, OK.
What is the asking price?
The asking price for this property is $450,000.
What are key features of this property?
This property features: 1,650 SF flex property on ±0.23 acres; Large climate‑controlled assembly room plus fully climate‑controlled building; Reception area, (2) private offices, and break room
