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    Multi-Building Office Complex in Tulsa Title is generated by Realmo AI

    2448 E 81st St, Tulsa, OK 74137

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    Office complex with three buildings near hotels and airport.

    Type:Office
    Added:
    Dec 8, 2020
    Days on Market:
    1990
    Last Refresh:
    May 12 at 8:58 pm

    Property Features for 2448 E 81st St

    General Information

    Standard status
    Active
    Property subtype
    Office

    Building Details

    Year Built
    1984

    Spaces For Lease

    at 2448 E 81st St Contact us

    Suite 125 $19/Mo

    Size
    1,137 SF
    Type
    Office
    Rate: $19/ft FSG;navailable 6/1/26nSpace description: Ground floor suite located...
    show more
    Contact us

    Suite 124 $19/Mo

    Size
    1,650 SF
    Type
    Office
    $19/ft FSGn available 6/1/26nSpace description: Ground floor suite located in high-traffic...
    show more
    Contact us

    We can help!

    Listing Contact
    Carl Vincent
    Carl Vincent

    Listing agent Carl Vincent License #83521

    Listing office Corporate Realty Advisors LLC

    Listing date Dec 8, 2020

    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 Corporate Realty Advisors LLC

    HighLights

    • Located adjacent to hotels, upscale shopping, and Oral Roberts University.
    • Three buildings: a 60‑story central tower, a 30‑story building, and a 20‑story building.
    • Proximity to Jones Riverside Airport (directly across the Arkansas River).
    • Close to Southern Hills Country Club (2 miles north).
    • Built in 1984.
    • Easy access to Tulsa International Airport (25 minutes away).

    Overview

    The property features a complex of three buildings: a central 60-story tower, a 30-story building to the west, and a 20-story building to the east. It is located adjacent to hotels, upscale shopping options, and the Oral Roberts University campus. Southern Hills Country Club, which hosted the 2001 U.S. Open, is situated two miles to the north. Directly across from the complex and the Arkansas River is Jones Riverside, Oklahoma's busiest airport, featuring parallel runways of 5,101 ft and 4,707 ft, along with several FBO and charter aircraft firms. Tulsa International Airport is located 25 minutes away.
    Location Intelligence

    Current Use by Public Records

    Relationships Restored Counselor Centupli Corporation Marketing & Advertising Surgical Associates, Inc Medical Clinic Jason Beaman, DO Physician Eagle Aircraft Supply Logistics Company

    Suggested Use

    Restaurant Real Estate Agency Law Firm Building Supply Spa & Massage Center Dental Office Big Box & Wholesale Store Auto Repair Shop Hair Salon Nail Salon

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Tulsa
    County
    Creek
    State
    Oklahoma
    Longitude
    -95.956999
    Latitude
    36.046354

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    FAQs

    What type of property is this?
    Office building - Office complex with three buildings near hotels and airport.
    Where is this office building located?
    The property is located at 2448 E 81st St Tulsa, OK.
    What is the lease rate?
    The lease rate is $19 SF/Yr.
    What are key features of this property?
    This property features: Located adjacent to hotels, upscale shopping, and Oral Roberts University.; Three buildings: a **60‑story central tower**, a 30‑story building, and a 20‑story building.; Proximity to Jones Riverside Airport (directly across the Arkansas River).
    We can help!
    Contact for Pricing
    Please call us for current price
    and status of this listing Carl Vincent
    Carl Vincent
    Real Estate License ID: 83521
    Learn More
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    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.

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    2448 E 81st St, Tulsa, OK 74137
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