Fenced Office
For Sale
$400,000
15890 E Pine Street, Tulsa, OK 74116
Commercial, Tulsa, OK
Property Size3,164 SF
Lot Size1.15 Acres
Price / SF$126.42
Days on Market313
Property Features for 15890 E Pine Street
General Information
Property type
Commercial Sale
Property subtype
Office
Zoning
Commercial
Security features
Security System
Interior features
Attic Exhaust Fan, Cable TV Wired, Satellite Dish Wired, Security System-Owned, Smoke Detector, Suspended Ceiling
Exterior features
Sidewalk, Storage
Fencing
Privacy, Chain Link
Subdivision
Highland Acres II AMD
Elementary school district
Catoosa - Sch Dist (28)
Middle school district
Catoosa - Sch Dist (28)
High school district
Catoosa - Sch Dist (28)
Directions
From N. 161st E. Ave and E. Pine St go West 2 blocks to property on the corner.
Standard status
Active
APN
660028895
Size
3,164 SF
Lot size
1.15 Acres
Taxes and HOA fees
Tax Year
2024
Tax Description
LOTS 1,2,13 & 14 BLOCK 2 HIGHLAND AC II AMD.
Tax Annual Amount
1053
Legal Description
LOTS 1,2,13 & 14 BLOCK 2 HIGHLAND AC II AMD.
Utilities
Heating system
Central, Zoned
Cooling system
Central Air, Zoned
Amenities
reception area
front office
back office
office spaces
storage rooms
full kitchen
full bath
utility room
half bath
outdoor storage shed
inground storm shelter
Building Details
Year built
1970
Flooring type
Laminate, Carpet
Building materials
Brick
Roof type
Composition
Additional Structures
Storage
Listing Agency:
Keller Williams Advantage · Keller Williams Realty
(918) 712-2252
Listed By:
Ron Johannesen · License #154835
(918) 859-8020
Added: Oct 24, 2025
Changed: Aug 19
Last Checked: Sep 1 at 2:06PM
MLS# 2544711
Copyright © 2026 MLS Technology, Inc. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
This 3,164-square-foot office building, constructed in 1970, offers a reception area, front and rear offices, 10 smaller office or storage rooms, and two additional full-sized rooms. A separate private section includes a full kitchen, full bathroom, and utility room, while another half bathroom serves the front portion. Interior features include suspended ceilings, laminate and carpet flooring, central and zoned heating and cooling, a security system, and smoke detectors. The brick building has 600-amp electrical service and two equipment rooms.
The property occupies 1.15 acres at 15890 E Pine Street in Tulsa, Oklahoma. Site improvements include privacy and chain-link fencing, three gated entries, a rear fenced asphalt parking area of approximately 9,500 square feet, a gravel lot, and additional parking near the front entrance. Exterior storage includes a 12-by-8-foot shed with shelving and a 12-by-12-foot lean-to. An inground storm shelter is also present.
The property occupies 1.15 acres at 15890 E Pine Street in Tulsa, Oklahoma. Site improvements include privacy and chain-link fencing, three gated entries, a rear fenced asphalt parking area of approximately 9,500 square feet, a gravel lot, and additional parking near the front entrance. Exterior storage includes a 12-by-8-foot shed with shelving and a 12-by-12-foot lean-to. An inground storm shelter is also present.
Key Highlights
- 3,164‑square‑foot office building on a 1.15‑acre lot
- 10 smaller rooms plus 2 full‑sized rooms for offices or storage
- 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
Property Profile
Current Use
Lease Details
Yes
Utilities to site
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
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 layout with private rooms, full kitchen, multiple restrooms, and secured outdoor storage areas.
Where is this office building located?
The property is located at 15890 E Pine Street 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‑square‑foot office building on a 1.15‑acre lot; 10 smaller rooms plus 2 full‑sized rooms for offices or storage; 600‑amp electrical service with 2 equipment rooms
