Midtown Tulsa Freestanding
For Sale
$900,000
1843 E 15th St, Tulsa, OK 74104
Renovated office/retail building with basement and on-site parking.
Property Size3,072 SF
Lot Size0.31 Acres
Price / SF$355.73
Days on Market141
Property Features for 1843 E 15th St
General Information
Standard status
Active
Size
3,072 SF
Class
A
Lot size
0.31 Acres
Property subtype
Single Tenant Office
Building Details
Building Size
3,072 SF
Year Built
1938
Listing Agency:
McGraw Commercial Properties
Listed By:
Amanda Cherry · License #209551
(918) 694-8331
Source:
Thebrokerlist
Added: May 19
Changed: Oct 3
Last Checked: Oct 5 at 3:09PM
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 McGraw Commercial Properties
Investment Insights
Based on property information with market context.
This freestanding office/retail building in Midtown Tulsa offers approximately 2,530 square feet of space, complemented by an additional 542 square foot basement that is currently undergoing renovations. Situated on a 0.31-acre (13,290 square foot) lot, the property includes approximately 10 on-site parking spaces. Exterior and interior renovations are in progress. The location provides excellent visibility, convenient access, and walkability to the Cherry Street corridor. Monument signage is available. The property is surrounded by established medical, finance, wellness, retail, and restaurant businesses, and is near Hillcrest Medical Center and Ascension St. John Medical Center. The space will be delivered in standard office condition. The flexible floor plans are suitable for office, medical, wellness, or professional service users, featuring a mix of private offices, a reception area, open workspace, a conference room, a kitchenette, and restrooms.
Key Highlights
- High‑visibility location with convenient access and onsite parking in Midtown Tulsa.
- Flexible floor plans suitable for office, medical, wellness, or professional service users.
- Approximately ±2,530 SF office building with an additional ±542 SF basement undergoing renovations.
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$29,203
Cap Rate
3.24%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$584,060
$584.1K
Cap Rate 7%
$417,186
$417.2K
Cap Rate 9%
$324,478
$324.5K
Market Conditions
NOI Build-Up for 2,530 SF
Gross rent
$45.5K $18.00/SF
− Vacancy
−$6.6K −$2.61/SF
EGI
$38.9K $15.39/SF
− OpEx
−$9.7K −$3.85/SF
NOI
$29.2K $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 Rate 5%
$584,060
Cap Rate 7%
$417,186
Cap Rate 9%
$324,478
Alternative Uses
Best Use
Office B
$417.2K
$365.0K – $486.7K
NOI $29,203 @ 7.0% cap · market cap 3.24%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$539.6K
$472.2K – $629.6K
NOI $37,773 @ 7.0% cap · market cap 4.20%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Location Intelligence
Trade Area within ½ mile
3,989
Businesses Nearby
Explore this area
Business Placement
Demographics for 74104, OK
12,395
Population
6,367
Households
1.9
Avg Household Size
31
Median Age
46%
College-Educated
90%
High-School Grad
2.7 sq mi
ZIP Area
4,591
Density / Sq Mi
$51,886
Median Household Income
$30,951
Median Earnings
$1,109
Median Rent
$224,500
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Office in Tulsa, OK
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Frequently Asked Questions
What type of property is this?
Office building - Renovated office/retail building with basement and on-site parking.
Where is this office building located?
The property is located at 1843 E 15th St Tulsa, OK.
What is the asking price?
The asking price for this property is $900,000.
What are key features of this property?
This property features: High‑visibility location with convenient access and onsite parking in Midtown Tulsa.; Flexible floor plans suitable for office, medical, wellness, or professional service users.; Approximately ±2,530 SF office building with an additional ±542 SF basement undergoing renovations.
