Turnkey Retail and Storage
For Sale
$2,450,000
3148 Mingo Road, Tulsa, OK 74146
Forty of 45 on-site storage units are leased, supporting recurring rental income at this turnkey retail and storage operation.
Property Size13,685 SF
Price / SF$179.03
Days on Market342
Property Features for 3148 Mingo Road
General Information
Standard status
Active
Size
13,685 SF
Property subtype
Mixed Use
Additional Details
Furnished
Yes
Business Included
Yes
Taxes and HOA fees
Annual Taxes
$8,287
Amenities
Central Air, Electric, A/C - Other
Exterior Lighting, Sidewalks.
Building Details
Year Built
1970
Year Renovated
2022
Listing Agency:
Keller Williams SEOK
(918) 916-5067
Listed By:
Kevin Beaty · License #181026
(918) 916-5067
Source:
Xome
Added: Sep 4, 2025
Changed: Aug 8
Last Checked: Aug 11 at 5:31AM
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 Keller Williams SEOK
Investment Insights
Based on property information with market context.
This turnkey retail and storage facility includes an on-site retail and pawn operation alongside 45 storage units. The business has been operating since 1993 and is described as having diversified revenue sources, including retail merchandise sales, pawn interest income, and recurring storage rentals. The sale is offered with operational items such as showcases, safes, fixtures, and essential operational infrastructure intended to support a seamless transition. Recent capital improvements include a new roof and HVAC systems completed in 2022.
The property is located at 3148 S Mingo Road in Tulsa, OK. According to the seller, 40 of 45 storage units are currently leased. The operation is represented as fully compliant and properly licensed, including a Federal Firearms License (FFL), and it is reported to hold a 4.8-star Google rating.
The property is located at 3148 S Mingo Road in Tulsa, OK. According to the seller, 40 of 45 storage units are currently leased. The operation is represented as fully compliant and properly licensed, including a Federal Firearms License (FFL), and it is reported to hold a 4.8-star Google rating.
Key Highlights
- 40 of 45 on‑site storage units are currently leased, providing recurring storage rental income
- Retail and pawn operation has been in business since 1993
- Recent capital improvements in 2022: new roof and HVAC systems
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
$131,737
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
5.38%
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%
$2,634,740
$2.6M
Cap Rate 7%
$1,881,957
$1.9M
Cap Rate 9%
$1,463,744
$1.5M
Market Conditions
NOI Build-Up for 13,685 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
$197.1K $14.40/SF
− Vacancy
−$8.9K −$0.65/SF
EGI
$188.2K $13.75/SF
− OpEx
−$56.5K −$4.13/SF
NOI
$131.7K $9.63/SF
Area
Tulsa, OK
Vacancy
4.50%
Lease Rate
$14.40 /SF/Yr
Expense Ratio
30.00%
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%
$2,634,740
Cap Rate 7%
$1,881,957
Cap Rate 9%
$1,463,744
Alternative Uses
Best Use
Retail
$1.88M
$1.65M – $2.20M
NOI $131,737 @ 7.0% cap · market cap 5.38%
Second Best
Self Storage
$1.56M
$1.37M – $1.82M
NOI $109,206 @ 7.0% cap · market cap 4.46%
Theoretical Best
Office A
$2.92M
$2.55M – $3.41M
NOI $204,316 @ 7.0% cap · market cap 8.34%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
Turnkey business
Opportunity
Location Intelligence
Trade Area within ½ mile
401
Businesses Nearby
Explore this area
Business Placement
Demographics for 74146, OK
16,427
Population
6,138
Households
2.7
Avg Household Size
29
Median Age
8%
College-Educated
69%
High-School Grad
5.1 sq mi
ZIP Area
3,221
Density / Sq Mi
$43,905
Median Household Income
$30,543
Median Earnings
$831
Median Rent
$134,300
Median Home Value
Market
Vacancy Rate% for Industrial in Tulsa, OK
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Self storage facility - Forty of 45 on-site storage units are leased, supporting recurring rental income at this turnkey retail and storage operation.
Where is this self storage facility located?
The property is located at 3148 Mingo Road Tulsa, OK.
What is the asking price?
The asking price for this property is $2,450,000.
What are key features of this property?
This property features: 40 of 45 on‑site storage units are currently leased, providing recurring storage rental income; Retail and pawn operation has been in business since 1993; Recent capital improvements in 2022: new roof and HVAC systems
