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16901 E Admiral Pl, Tulsa, OK 74116
Warehouses
Property Size8,400 SF
Lot Size8.72 Acres
Price / SF$220.24
Days on Market461
Property Features for 16901 E Admiral Pl
General Information
Standard status
Active
Size
8,400 SF
Lot size
8.72 Acres
Property subtype
Industrial
Zoning
IL
Building Details
Year Built
1975
Buildings
1
Listing Agency:
Commercial X LLC
Listed By:
Jennifer Collins · License #157710
Source:
Crexi
Added: May 14, 2025
Changed: Aug 16
Last Checked: Aug 14 at 7:30AM
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 Commercial X LLC
Investment Insights
Based on property information with market context.
Key Highlights
- Located in a Federal Opportunity Zone, offering significant investment benefits.
- 8.72 level acres with 825 feet of I‑44 frontage, providing high visibility.**
- Includes a 4,800 SF red iron office building ready for renovation.
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
$96,957
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
5.24%
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%
$1,939,140
$1.9M
Cap Rate 7%
$1,385,100
$1.4M
Cap Rate 9%
$1,077,300
$1.1M
Market Conditions
NOI Build-Up for 8,400 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
$151.2K $18.00/SF
− Vacancy
−$21.9K −$2.61/SF
EGI
$129.3K $15.39/SF
− OpEx
−$32.3K −$3.85/SF
NOI
$97.0K $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%
$1,939,140
Cap Rate 7%
$1,385,100
Cap Rate 9%
$1,077,300
Alternative Uses
Best Use
Office B
$1.39M
$1.21M – $1.62M
NOI $96,957 @ 7.0% cap · market cap 5.24%
Second Best
Warehouse
$700.5K
$612.9K – $817.3K
NOI $49,035 @ 7.0% cap · market cap 2.65%
Theoretical Best
Office A
$1.79M
$1.57M – $2.09M
NOI $125,411 @ 7.0% cap · market cap 6.78%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
79
Businesses Nearby
Balanced
Demand for This Use
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
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Similar Off Market Nearby
- Cisco Containers, L.L.C. — 17515 E Admiral Pl, Tulsa, OK 74116
- Diamond Self Storage Fair Oaks — 18018 E Admiral Pl, Fair Oaks, OK 74015
Frequently Asked Questions
Where is this warehouse located?
The property is located at 16901 E Admiral Pl Tulsa, OK.
What is the asking price?
The asking price for this property is $1,850,000.
What are key features of this property?
This property features: Located in a Federal Opportunity Zone, offering significant investment benefits.; 8.72 level acres with 825 feet of I‑44 frontage, providing high visibility.**; Includes a 4,800 SF red iron office building ready for renovation.
