Glenpool Office and Retail
15085 S Elwood Ave, Glenpool, OK 74033
For Sale
Contact for pricing
Seven-building office and retail portfolio in Glenpool, Oklahoma for sale.
Property Size33,000 SF
Price / SF$272.58
Days on Market250
Property Features for 15085 S Elwood Ave
General Information
Standard status
Size
Class
Property subtype
Occupancy
Lease Type
Net Operating Income
Building Details
Year Built
Buildings
Tenancy
Listing Agency:
Wiggin Properties LLC
Listed By:
Grant Stewart · License OK #140822
(918) 645-7679
Source:
Crexi
Added: Mar 6
Changed: Nov 1
Last Checked: Nov 8 at 8:32AM
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 Wiggin Properties LLC
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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 / Yr
$406,795
Cap Rate
4.52%
Suggested Prices Based on Cap Rates
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
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 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.
How Realmo checks its estimates
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Current Use
Location Intelligence
Trade Area within ½ mile
49
Businesses Nearby
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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
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
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Market
Properties on Market for Mixed-use properties in Tulsa County
Vacancy Rate% for Office in South region
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.
