Office Building with Fenced
New
For Sale
$400,000
15890 E Pine St, Tulsa, OK 74116
Flexible commercial layout with private rooms, kitchen facilities, secured outdoor areas, and multiple access gates.
Property Size3,164 SF
Price / SF$126.42
Days on Market2
Property Features for 15890 E Pine St
General Information
Standard status
Active
Size
3,164 SF
Building Details
Year Built
1970
Listing Agency:
Keller Williams Advantage
Listed By:
Ron Johannesen · License #154835
(918) 859-8020
Source:
Alloverok
Added: Sep 15
Last Checked: Sep 15 at 2:24PM
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 Keller Williams Advantage
Investment Insights
Based on property information with market context.
This 3,164-square-foot office building offers a reception area, front and rear offices, 10 smaller office spaces or storage rooms, and two additional full-sized rooms. A private section includes a full kitchen, full bathroom, and utility room, while a separate half bathroom serves the front office. The property was built in 1970 and includes 600-amp electrical service with two equipment rooms.
The building sits on more than one acre with partial privacy fencing and a 6-foot chain-link fence. Three chain-link gates provide access, including a 16-foot swing gate, 20-foot gate, and 24-foot cantilever gate. The rear of the property includes approximately 9,500 square feet of fenced asphalt parking, along with a gravel lot and additional parking near the front entrance.
An outdoor storage shed with shelving, a lean-to, and an inground storm shelter add functional support space. The property is located at 15890 E Pine St in Tulsa, Oklahoma.
The building sits on more than one acre with partial privacy fencing and a 6-foot chain-link fence. Three chain-link gates provide access, including a 16-foot swing gate, 20-foot gate, and 24-foot cantilever gate. The rear of the property includes approximately 9,500 square feet of fenced asphalt parking, along with a gravel lot and additional parking near the front entrance.
An outdoor storage shed with shelving, a lean-to, and an inground storm shelter add functional support space. The property is located at 15890 E Pine St in Tulsa, Oklahoma.
Key Highlights
- 3,164 sq ft office building on a 1+ acre lot
- 10 small office spaces or storage rooms, plus 2 additional full‑sized rooms
- 600‑amp electrical service with 2 equipment rooms
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
$36,520
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
9.13%
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%
$730,400
$730.4K
Cap Rate 7%
$521,714
$521.7K
Cap Rate 9%
$405,778
$405.8K
Market Conditions
NOI Build-Up for 3,164 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
$57.0K $18.00/SF
− Vacancy
−$8.3K −$2.61/SF
EGI
$48.7K $15.39/SF
− OpEx
−$12.2K −$3.85/SF
NOI
$36.5K $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%
$730,400
Cap Rate 7%
$521,714
Cap Rate 9%
$405,778
Alternative Uses
Best Use
Office B
$521.7K
$456.5K – $608.7K
NOI $36,520 @ 7.0% cap · market cap 9.13%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$674.8K
$590.5K – $787.3K
NOI $47,238 @ 7.0% cap · market cap 11.81%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Location Intelligence
Trade Area within ½ mile
131
Businesses Nearby
Explore this area
Business Placement
Demographics for 74116, OK
4,069
Population
1,665
Households
2.4
Avg Household Size
35
Median Age
9%
College-Educated
75%
High-School Grad
18.0 sq mi
ZIP Area
226
Density / Sq Mi
$56,296
Median Household Income
$34,938
Median Earnings
$783
Median Rent
$137,500
Median Home Value
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Market
Vacancy Rate% for Office in Tulsa, OK
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Frequently Asked Questions
What type of property is this?
Office building - Flexible commercial layout with private rooms, kitchen facilities, secured outdoor areas, and multiple access gates.
Where is this office building located?
The property is located at 15890 E Pine St Tulsa, OK.
What is the asking price?
The asking price for this property is $400,000.
What are key features of this property?
This property features: 3,164 sq ft office building on a 1+ acre lot; 10 small office spaces or storage rooms, plus 2 additional full‑sized rooms; 600‑amp electrical service with 2 equipment rooms
