Glenpool Office and Retail
For Sale
Contact for pricing
15085 S Elwood Ave, Glenpool, OK 74033
Seven-building office and retail portfolio in Glenpool, Oklahoma for sale.
Property Size33,000 SF
Price / SF$272.58
Days on Market158
Property Features for 15085 S Elwood Ave
General Information
Standard status
Active
Size
33,000 SF
Class
B
Property subtype
Office, Retail
Occupancy
100%
Lease Type
Modified Gross
Net Operating Income
$750,000
Building Details
Year Built
2021
Buildings
7
Tenancy
Multi
Listing Agency:
Wiggin Properties LLC
(918) 935-2010
Listed By:
Grant Stewart · License #OK 140822
Source:
Crexi
Added: Mar 6
Changed: Aug 8
Last Checked: Aug 11 at 5:09AM
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 LLC
Investment Insights
Based on property information with market context.
Park 151 Commercial is a seven-building portfolio located in Glenpool, Oklahoma, featuring a mix of office and retail spaces. The portfolio consists of two retail buildings totaling approximately 27,000 square feet and five office buildings, each measuring 6,000 square feet. The property is fully leased to seventeen tenants, providing immediate income. The location along S Elwood Avenue offers convenient access to major thoroughfares, nearby retail corridors, and residential communities. The buildings feature efficient layouts and quality construction, accommodating small and mid-sized tenants. The tenant mix is secured under stable lease structures, promoting consistent occupancy and long-term performance within a well-located suburban market.
Key Highlights
- Fully leased to seventeen tenants, providing immediate and reliable income.
- Strong location in Glenpool, Oklahoma, along S Elwood Avenue.
- Convenient access to major thoroughfares, nearby retail corridors, and growing residential communities.
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
$406,795
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
4.52%
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%
$8,135,900
$8.1M
Cap Rate 7%
$5,811,357
$5.8M
Cap Rate 9%
$4,519,944
$4.5M
Market Conditions
NOI Build-Up for 33,000 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
$617.8K $18.72/SF
− Vacancy
−$75.4K −$2.28/SF
EGI
$542.4K $16.44/SF
− OpEx
−$135.6K −$4.11/SF
NOI
$406.8K $12.33/SF
Area
Tulsa County, OK
Vacancy
12.20%
Lease Rate
$18.72 /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%
$8,135,900
Cap Rate 7%
$5,811,357
Cap Rate 9%
$4,519,944
Alternative Uses
Best Use
Office B
$5.81M
$5.08M – $6.78M
NOI $406,795 @ 7.0% cap · market cap 4.52%
Second Best
Retail
$4.80M
$4.20M – $5.60M
NOI $336,105 @ 7.0% cap · market cap 3.74%
Theoretical Best
Office A
$7.44M
$6.51M – $8.68M
NOI $520,610 @ 7.0% cap · market cap 5.79%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
5
Businesses Nearby
Explore this area
Business Placement
Demographics for 74033, OK
13,254
Population
4,868
Households
2.7
Avg Household Size
34
Median Age
25%
College-Educated
91%
High-School Grad
12.3 sq mi
ZIP Area
1,078
Density / Sq Mi
$77,306
Median Household Income
$43,382
Median Earnings
$1,292
Median Rent
$194,400
Median Home Value
Market
Vacancy Rate% for Office in South region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Mixed-use property - Seven-building office and retail portfolio in Glenpool, Oklahoma for sale.
Where is this mixed-use property located?
The property is located at 15085 S Elwood Ave Glenpool, OK.
What is the asking price?
The asking price for this property is $8,995,000.
What are key features of this property?
This property features: Fully leased to seventeen tenants, providing immediate and reliable income.; Strong location in Glenpool, Oklahoma, along S Elwood Avenue.; Convenient access to major thoroughfares, nearby retail corridors, and growing residential communities.
