Class B Office Building with
New
For Sale
$2,100,000
1401 South Denver Avenue, Tulsa, OK 74119
Flexible office configuration supports either an owner-user or multiple occupants.
Property Size10,600 SF
Lot Size0.88 Acres
Price / SF$198.11
Days on Market2
Property Features for 1401 South Denver Avenue
General Information
Standard status
Active
Size
10,600 SF
Class
Class B
Lot size
0.88 Acres
Property subtype
Office
Additional Details
Highway Access
Yes
Building Details
Year Built
2003
Buildings
1
Stories
1
Building Size
10,600 SF
Parking Ratio
3.2 per 1,000 SF
Listing Agency:
CBRE | Tulsa
(918) 392-7253
Listed By:
Dylan Seibert
(918) 392-7253
Source:
Cbre
Added: Aug 10
Changed: Aug 11
Last Checked: Aug 11 at 6:32AM
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 10,600± SF Class B office building occupies a 0.88± acre site and was constructed in 2003. Its one-story design includes a mezzanine, creating a practical arrangement for office operations with the flexibility to serve one occupant or several tenants.
The property is located at 1401 South Denver Avenue in Tulsa, with nearby access to the IDL. Parking is provided at a 3.2/1,000 SF ratio, supporting the building’s office configuration and range of occupancy options.
The property is located at 1401 South Denver Avenue in Tulsa, with nearby access to the IDL. Parking is provided at a 3.2/1,000 SF ratio, supporting the building’s office configuration and range of occupancy options.
Key Highlights
- 10,600± SF Class B office building
- 0.88± acre site
- Built in 2003
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
$122,351
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
5.83%
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%
$2,447,020
$2.4M
Cap Rate 7%
$1,747,871
$1.7M
Cap Rate 9%
$1,359,456
$1.4M
Market Conditions
NOI Build-Up for 10,600 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
$190.8K $18.00/SF
− Vacancy
−$27.7K −$2.61/SF
EGI
$163.1K $15.39/SF
− OpEx
−$40.8K −$3.85/SF
NOI
$122.4K $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%
$2,447,020
Cap Rate 7%
$1,747,871
Cap Rate 9%
$1,359,456
Alternative Uses
Best Use
Office B
$1.75M
$1.53M – $2.04M
NOI $122,351 @ 7.0% cap · market cap 5.83%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$2.26M
$1.98M – $2.64M
NOI $158,257 @ 7.0% cap · market cap 7.54%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
4,297
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 - Flexible office configuration supports either an owner-user or multiple occupants.
Where is this office building located?
The property is located at 1401 South Denver Avenue Tulsa, OK.
What is the asking price?
The asking price for this property is $2,100,000.
What are key features of this property?
This property features: 10,600± SF Class B office building; 0.88± acre site; Built in 2003
