Gated Self-Storage
For Sale
Contact for pricing
175983 S Memorial Dr, Tulsa, OK 74112
Recently built storage property with drive-up units, controlled entry, and on-site surveillance.
Property Size13,250 SF
Price / SF$83.02
Days on Market158
Property Features for 175983 S Memorial Dr
General Information
Standard status
Active
Size
13,250 SF
Property subtype
Special Purpose
Site & Location
Highway Access
Yes
Fenced Yard
Yes
Amenities
Keypad entry
24-hour surveillance
Building Details
Year Built
2023
Listing Agency:
Coldwell Banker Tulsa Real Estate Owasso
Listed By:
Sean Worley · License #OK
Source:
Crexi
Added: Mar 26
Changed: Aug 29
Last Checked: Aug 29 at 5:48PM
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 Coldwell Banker Tulsa Real Estate Owasso
Investment Insights
Based on property information with market context.
This self-storage facility contains 13,250 SF and was built in 2023. The property offers drive-up units in multiple sizes, supporting both personal and business storage requirements. A perimeter fence, gated access, keypad entry, and 24-hour surveillance are included.
The facility is positioned along the Memorial Drive corridor in central Tulsa, with access to I-44 and Hwy 169. Its location serves Midtown, central Tulsa, and surrounding areas. The property is offered as part of an investment portfolio that includes five rental homes and is sold with properties identified as 2609938, 2609933, 2609928, 2609927, and 2609919.
The facility is positioned along the Memorial Drive corridor in central Tulsa, with access to I-44 and Hwy 169. Its location serves Midtown, central Tulsa, and surrounding areas. The property is offered as part of an investment portfolio that includes five rental homes and is sold with properties identified as 2609938, 2609933, 2609928, 2609927, and 2609919.
Key Highlights
- 13,250 SF self‑storage facility
- Built in 2023
- Drive‑up units available in multiple sizes
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
$77,346
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
7.03%
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%
$1,546,920
$1.5M
Cap Rate 7%
$1,104,943
$1.1M
Cap Rate 9%
$859,400
$859.4K
Market Conditions
NOI Build-Up for 13,250 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
$93.8K $7.08/SF
− Vacancy
−$2.8K −$0.21/SF
EGI
$91.0K $6.87/SF
− OpEx
−$13.6K −$1.03/SF
NOI
$77.3K $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%
$1,546,920
Cap Rate 7%
$1,104,943
Cap Rate 9%
$859,400
Alternative Uses
Best Use
Self Storage
$1.51M
$1.32M – $1.76M
NOI $105,735 @ 7.0% cap · market cap 9.61%
Second Best
Warehouse
$1.10M
$966.8K – $1.29M
NOI $77,346 @ 7.0% cap · market cap 7.03%
Theoretical Best
Office A
$2.83M
$2.47M – $3.30M
NOI $197,821 @ 7.0% cap · market cap 17.98%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
Yes
Fenced yard
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
4
Businesses Nearby
Explore this area
Business Placement
Demographics for 74112, OK
20,810
Population
10,524
Households
2
Avg Household Size
38
Median Age
27%
College-Educated
87%
High-School Grad
6.8 sq mi
ZIP Area
3,060
Density / Sq Mi
$55,848
Median Household Income
$37,151
Median Earnings
$1,024
Median Rent
$149,800
Median Home Value
Market
Vacancy Rate% for Industrial in Tulsa, OK
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Self storage facility - Recently built storage property with drive-up units, controlled entry, and on-site surveillance.
Where is this self storage facility located?
The property is located at 175983 S Memorial Dr Tulsa, OK.
What is the asking price?
The asking price for this property is $1,100,000.
What are key features of this property?
This property features: 13,250 SF self‑storage facility; Built in 2023; Drive‑up units available in multiple sizes
