Historic Route 66 Commercial
For Sale
$1,175,000
3314 East 11th Street, Tulsa, OK 74112
Exceptional commercial opportunity in the heart of Tulsa on Route 66.
Property Size6,132 SF
Lot Size0.46 Acres
Price / SF$191.62
Days on Market149
Property Features for 3314 East 11th Street
General Information
Standard status
Active
Size
6,132 SF
Lot size
0.46 Acres
Property subtype
Retail
Listing Agency:
(918) 392-7206
Listed By:
Jamie Hill
(918) 392-7206
Source:
Cbre
Added: Mar 25
Changed: Aug 10
Last Checked: Aug 19 at 8:08AM
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 Jamie Hill
Investment Insights
Based on property information with market context.
This commercial property, situated in the heart of Tulsa, the officially designated Capital of Route 66, presents an exceptional opportunity. Constructed in 1930, the building was occupied by Safeway as early as 1951 and stands as a rare surviving example of the mid-sized commercial architecture that defined 11th Street’s history during the golden age of American travel. The property benefits from its location in a vibrant, high-traffic corridor that attracts both international tourism and consistent local commerce. The building offers 6,132 square feet on a 0.46-acre lot. It features full climate control, 17-foot sidewalls, a wet sprinkler system, and Commercial Heavy zoning. Additional features include extensive wrought iron fencing, two ADA restrooms, and 23 parking spaces. The property's historic pedigree, combined with its prominent frontage on 11th Street / HWY 66, provides an exceptional foundation for a variety of adaptive reuse or investment ventures.
Key Highlights
- Historic Route 66 Frontage in the Capital of Route 66
- High‑Traffic Location attracting Tourists and Local Commerce
- 6,132± SF Building on 0.46± Acres
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
$59,029
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
5.02%
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%
$1,180,580
$1.2M
Cap Rate 7%
$843,271
$843.3K
Cap Rate 9%
$655,878
$655.9K
Market Conditions
NOI Build-Up for 6,132 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
$88.3K $14.40/SF
− Vacancy
−$4.0K −$0.65/SF
EGI
$84.3K $13.75/SF
− OpEx
−$25.3K −$4.13/SF
NOI
$59.0K $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%
$1,180,580
Cap Rate 7%
$843,271
Cap Rate 9%
$655,878
Alternative Uses
Best Use
Retail
$843.3K
$737.9K – $983.8K
NOI $59,029 @ 7.0% cap · market cap 5.02%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.31M
$1.14M – $1.53M
NOI $91,550 @ 7.0% cap · market cap 7.79%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
703
Businesses Nearby
80k
Monthly Visits Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Foot Traffic Nearby
Dining 89%
Shops & Services 11%
McDonald's
Dining
24,538 visits/mo
0.3 miles
Taco Bell
Dining
11,243 visits/mo
0.2 miles
Taco Bueno
Dining
9,827 visits/mo
0.5 miles
Burger King
Dining
8,879 visits/mo
0.0 miles
Arby's
Dining
6,383 visits/mo
0.4 miles
Demographics for 74112, OK
20,810
Population
10,524
Households
2
Avg Household Size
38
Median Age
27%
College-Educated
87%
High-School Grad
6.8 sq mi
ZIP Area
3,060
Density / Sq Mi
$55,848
Median Household Income
$37,151
Median Earnings
$1,024
Median Rent
$149,800
Median Home Value
Market
Vacancy Rate% for Retail in Tulsa, OK
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Storefront property - Exceptional commercial opportunity in the heart of Tulsa on Route 66.
Where is this storefront property located?
The property is located at 3314 East 11th Street Tulsa, OK.
What is the asking price?
The asking price for this property is $1,175,000.
What are key features of this property?
This property features: Historic Route 66 Frontage in the Capital of Route 66; High‑Traffic Location attracting Tourists and Local Commerce; 6,132± SF Building on 0.46± Acres
