6,000 SF Warehouse For
For Sale
Contact for pricing
Pending
165 S 122nd East Avenue, Tulsa, OK 74128
6,000 SF warehouse with fenced yard space available for purchase.
Property Size6,000 SF
Days on Market194
Property Features for 165 S 122nd East Avenue
General Information
Standard status
Pending
Size
6,000 SF
Property subtype
Industrial
Lease Type
Net
Building Details
Year Built
1975
Tenancy
Multi
Listing Agency:
Henry Hinds Realty, LLC
Listed By:
Deren Huang · License #OK 173779
Source:
Crexi
Added: Feb 7
Changed: Aug 8
Last Checked: Jul 29 at 11:07AM
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 Henry Hinds Realty, LLC
Investment Insights
Based on property information with market context.
This 6,000 square foot property includes 3,000 square feet of leased space. The warehouse features ceiling heights ranging from 16 to 18 feet in the center. Unit A is equipped with two 10'x10' drive-in doors, while Unit B has one 10'x12' drive-in door and one 8'x16' drive-in door. Unit B also includes new LED lighting. The property offers a fenced-in yard space.
Key Highlights
- 6,000 square feet (3,000 leased)
- Fenced in yard space
- 16'-18' ceiling height
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
$35,025
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
5.95%
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%
$700,500
$700.5K
Cap Rate 7%
$500,357
$500.4K
Cap Rate 9%
$389,167
$389.2K
Market Conditions
NOI Build-Up for 6,000 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
$42.5K $7.08/SF
− Vacancy
−$1.3K −$0.21/SF
EGI
$41.2K $6.87/SF
− OpEx
−$6.2K −$1.03/SF
NOI
$35.0K $5.84/SF
Area
Tulsa, OK
Vacancy
3.00%
Lease Rate
$7.08 /SF/Yr
Expense Ratio
15.00%
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%
$700,500
Cap Rate 7%
$500,357
Cap Rate 9%
$389,167
Alternative Uses
Best Use
Warehouse
$500.4K
$437.8K – $583.8K
NOI $35,025 @ 7.0% cap · market cap 5.95%
Second Best
Industrial
$412.1K
$360.6K – $480.7K
NOI $28,844 @ 7.0% cap · market cap 4.90%
Theoretical Best
Office A
$1.28M
$1.12M – $1.49M
NOI $89,580 @ 7.0% cap · market cap 15.21%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
387
Businesses Nearby
Balanced
Demand for This Use
Explore this area
Business Placement
Demographics for 74128, OK
12,982
Population
4,954
Households
2.6
Avg Household Size
34
Median Age
12%
College-Educated
75%
High-School Grad
3.6 sq mi
ZIP Area
3,606
Density / Sq Mi
$49,654
Median Household Income
$31,884
Median Earnings
$1,031
Median Rent
$109,100
Median Home Value
Market
Vacancy Rate% for Industrial in Tulsa, OK
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Frequently Asked Questions
What type of property is this?
Warehouse - 6,000 SF warehouse with fenced yard space available for purchase.
Where is this warehouse located?
The property is located at 165 S 122nd East Avenue Tulsa, OK.
What is the asking price?
The asking price for this property is $589,000.
What are key features of this property?
This property features: 6,000 square feet (3,000 leased); Fenced in yard space; 16'-18' ceiling height
