Add Listing
    For Sale
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    The Largest CRE Database in the US with Over 1 Million Listings

    202 S Gateway Pl Jenks, OK 74037

    View on Map
    Claim this Listing
    Loading data...
    Loading data...
    Loading data...
    For Sale
    Contact for pricing

    New retail space with long-term absolute net lease.

    Type:Retail
    Property size:
    20,890 SF
    Price / SF:
    $436/SF
    Added:
    Apr 17, 2024
    Days on Market:
    743
    Last Refresh:
    Mar 17 at 1:25 pm

    Property Features for 202 S Gateway Pl

    General Information

    Standard status
    Active
    Size
    20,890 SF
    Property subtype
    Retail

    Building Details

    Year Built
    2023

    We can help!

    Listing Contact
    Michael Cagen

    Listing agent Michael Cagen License #MI 6502377154

    Listing office Michael Cagen, L.L.C.

    Listing date Apr 17, 2024

    Source Crexi

    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 Michael Cagen, L.L.C.

    Overview

    New Retail Space in Jenks

    This 20,890 square foot retail space is located in Tulsa County, Oklahoma. The property features new construction and is subject to an absolute net-lease. The lease term is 17+ years, with 2% annual increases. The lease is corporately guaranteed by Frontier Justice, LLC. The property is located in a growing affluent area and is considered an essential retailer. It offers easy access, generous parking, highway interchange access, and visibility.
    Location Intelligence

    Current Use by Public Records

    Retail space

    Map

    City
    Jenks
    County
    Tulsa
    State
    Oklahoma
    Longitude
    -95.9806
    Latitude
    36.0001

    Nearby Similar for Sale

    • $395,000
      1,629 SF

      Commercial Office Building in Jenks

      Commercial office building in a desirable, growing Jenks location.
      1917 W C Street, Jenks, OK 74037
      View Details
    • $1,399,000
      6,168 SF

      Versatile Commercial Space in Jenks, OK

      Adaptable 6,168 SF commercial space suitable for diverse businesses.
      820 W Main Street, Jenks, OK 74037
      View Details
    • $7,300
      6,168 SF

      Versatile Commercial Space in Jenks

      Adaptable commercial space suitable for various business uses.
      820 W Main Street, Jenks, OK 74037
      View Details
    • $325,000
      2,622 SF

      Jenks Duplex: Investment Opportunity

      Well-maintained duplex in Jenks, OK with immediate rental income.
      11129 S Date Street, Jenks, OK 74037
      View Details
    • $1,700,000
      11,809 SF

      Exceptional Church Property on Main

      Prime church property in Jenks with two versatile buildings.
      2833 W Main Street, Jenks, OK 74037
      View Details
    • $685,000
      10,498 SF

      Modern Retail-Office Property in Jenks

      Prime retail-office property in downtown Jenks with expansion potential.
      508 E A St, Jenks, OK
      View Details
    • $695,000
      2,508 SF

      Main Street Jenks Office Building

      Office building in prime Jenks location with multiple features.
      1030 W Main Street, Jenks, OK 74037
      View Details
    • $395,000
      1,629 SF

      Jenks Commercial Office Building

      Commercial office building in Jenks, offering accessibility and flexibility.
      1917 W C Street, Jenks, OK 74037
      View Details
    • $459,000

      Main Street Jenks Office Building

      Office building with Main Street frontage, suitable for various businesses.
      1239 Main St, Jenks, OK, 74037-2311
      View Details
    • $3,900,000
      180,774 SF

      4.15 Acres Mall Out Lot For Sale - 801 E. Outlet Drive

      Exceptional 4.15-acre Jenks outlot with high visibility and highway access.
      802 E. Outlet Drive, Jenks, OK 74037
      View Details
    • $2,029,000
      950 SF

      NNN Lease to Dutch Bros

      15-Year Absolute NNN Lease to Dutch Bros in Jenks, OK
      305 S Elm St, Jenks, OK 74037
      View Details
    • Contact for pricing
      1,590 SF

      Retail Space with Highway Visibility

      Retail space with excellent visibility and easy highway access.
      11476 S Union Ave, Jenks, OK
      View Details

    FAQs

    What type of property is this?
    Retail space - New retail space with long-term absolute net lease.
    Where is this retail space located?
    The property is located at 202 S Gateway Pl Jenks, OK.
    What is the asking price?
    The asking price for this property is $9,120,000.
    What are key features of this property?
    This property features: 17+ Year Absolute NNN Lease with 2% Annual Increases; Corporately Guaranteed by Frontier Justice, LLC; Brand New State of the Art Construction (2023)
    We can help!
    Contact for Pricing
    Please call us for current price
    and status of this listing
    Michael Cagen
    Real Estate License ID: MI 6502377154
    Learn More
    Request Owner's contact information
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!