Downtown Sapulpa Turnkey Office
For Sale
Contact for pricing
201 E Hobson Ave, Sapulpa, OK
Remodeled office building for sale in downtown Sapulpa.
Property Size3,840 SF
Lot Size0.35 Acres
Price / SF$207.03
Days on Market446
Property Features for 201 E Hobson Ave
General Information
Standard status
Active
Size
3,840 SF
Lot size
0.35 Acres
Property subtype
OFFICE
Listing Agency:
Wiggin Properties - Tulsa
(918) 519-6731
Listed By:
Vicki Patterson, CCIM · License #140822
(918) 519-6731
Source:
Moodyscre
Added: May 23, 2025
Changed: Aug 8
Last Checked: Aug 8 at 5:19AM
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 Wiggin Properties - Tulsa
Investment Insights
Based on property information with market context.
This turnkey office space is available for sale in Downtown Sapulpa. Originally constructed in 1905, the 3,840-square-foot building was completely remodeled and updated in 2017. Updates include a new roof, windows, HVAC, electrical, plumbing, and CAT6 wiring. The property is currently owner-occupied, and the tenant is open to vacating or remaining through the current lease. Hobson Ave is undergoing expansion, with a new brewery, retail spaces, and a hotel planned for completion by the end of 2024.
Key Highlights
- Turnkey, completely remodeled office space in Downtown Sapulpa.
- Significant updates in 2017: new roof, windows, HVAC, electrical, plumbing, and CAT6.
- Located on Hobson Ave, which is undergoing expansion with a new Brewery, Retail and Hotel scheduled for completion by the end of 2024.
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
$54,871
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
6.90%
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%
$1,097,420
$1.1M
Cap Rate 7%
$783,871
$783.9K
Cap Rate 9%
$609,678
$609.7K
Market Conditions
NOI Build-Up for 3,840 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
$81.6K $21.24/SF
− Vacancy
−$8.4K −$2.19/SF
EGI
$73.2K $19.05/SF
− OpEx
−$18.3K −$4.76/SF
NOI
$54.9K $14.29/SF
Area
Creek County, OK
Vacancy
10.30%
Lease Rate
$21.24 /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%
$1,097,420
Cap Rate 7%
$783,871
Cap Rate 9%
$609,678
Alternative Uses
Best Use
Office B
$783.9K
$685.9K – $914.5K
NOI $54,871 @ 7.0% cap · market cap 6.90%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$944.3K
$826.3K – $1.10M
NOI $66,101 @ 7.0% cap · market cap 8.31%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
89
Businesses Nearby
Explore this area
Business Placement
Market
Vacancy Rate% for Office in South region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Office units - Remodeled office building for sale in downtown Sapulpa.
Where is this office units located?
The property is located at 201 E Hobson Ave Sapulpa, OK.
What is the asking price?
The asking price for this property is $795,000.
What are key features of this property?
This property features: Turnkey, completely remodeled office space in Downtown Sapulpa.; Significant updates in 2017: new roof, windows, HVAC, electrical, plumbing, and CAT6.; Located on Hobson Ave, which is undergoing expansion with a new Brewery, Retail and Hotel scheduled for completion by the end of 2024.
