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16901 S Admiral Place, Tulsa, OK 74116
Mixed-use properties
Property Size8,400 SF
Lot Size8.72 Acres
Price / SF$222.62
Days on Market272
Property Features for 16901 S Admiral Place
General Information
Standard status
Active
Size
8,400 SF
Lot size
8.72 Acres
Property subtype
Mixed Use, Industrial
Building Details
Year Built
1975
Listing Agency:
Keller Williams Advantage
Listed By:
Jennifer Collins · License #157710
Source:
Crexi
Added: Nov 18, 2025
Changed: Aug 8
Last Checked: Aug 14 at 9:02AM
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.
Key Highlights
- Located in a Federal Opportunity Zone, offering potential tax benefits for investors.
- 8.72 level acres with 825 feet of I‑44 frontage provides high visibility and accessibility.**
- Includes a 4,800 SF red iron office building ready for renovation into modern office or showroom space.
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
5.18%
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 5.18%
Second Best
Mixed Use
$1.13M
$992.3K – $1.32M
NOI $79,380 @ 7.0% cap · market cap 4.24%
Theoretical Best
Office A
$1.79M
$1.57M – $2.09M
NOI $125,411 @ 7.0% cap · market cap 6.71%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
115
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
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
Where is this mixed-use property located?
The property is located at 16901 S Admiral Place Tulsa, OK.
What is the asking price?
The asking price for this property is $1,870,000.
What are key features of this property?
This property features: Located in a Federal Opportunity Zone, offering potential tax benefits for investors.; 8.72 level acres with 825 feet of I‑44 frontage provides high visibility and accessibility.**; Includes a 4,800 SF red iron office building ready for renovation into modern office or showroom space.
