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    3524 Southwest Blvd Tulsa, OK 74107

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    For Sale
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    Established Tulsa BBQ restaurant with Route 66 exposure for sale.

    Property size:
    3,500 SF
    Lot size:
    0.45 Acres

    Property Features for 3524 Southwest Blvd

    General Information

    Standard status
    Active
    Zoning
    C
    Size
    3,500 SF
    Lot size
    0.45 Acres

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    Listing Contact
    Ed Martin
    Ed Martin
    Source: Crexi

    Listing Agency: Cambridge Commercial Properties Listing Agent: Ed Martin

    Displayed information is deemed reliable but is not guaranteed and should be independently verified.

    Learn more

    Overview

    Route 66 BBQ Restaurant Opportunity

    Billy Ray's Catfish & BBQ, a Tulsa barbecue restaurant, is available for purchase. Founded in 1984, this family-operated establishment has been serving the Tulsa market for over 40 years. Known as a long-standing Route 66 restaurant, it attracts both local residents and travelers. The restaurant's historic neon sign was restored through a Tulsa 66 preservation grant. The restaurant has a strong customer base with repeated patronage from local residents and industrial workers. The core menu features smoked ribs, brisket, pulled pork, hot links/sausage, smoked turkey, and fried catfish and shrimp, along with a house BBQ sauce derived from a family recipe. The restaurant is a well-known award-winning local BBQ and catfish destination in Tulsa, serving both local regular customers and Route 66 travelers and tourists. The business employs approximately 12 to 14 employees. The restaurant offers dine-in service, a drive-through, take-out orders, and delivery options through Grubhub, DoorDash, and Uber Eats. The menu features traditional smoked BBQ production with all sides, including desserts and Billy Ray's famous BBQ sauce. Typical business hours are from 11:00 AM to 10:00 PM, Tuesday through Saturday. The main restaurant building is 3,500 square feet, including a walk-in cooler freezer. There is also a detached 2-car garage for company vehicle storage, measuring 20'x20' or 400 square feet, and a covered dry enclosed woodshed measuring 20'x20' or 200 square feet. The land size is .45 acres or 19,753 square feet. Additional passive income is generated through licensing income from a Broken Arrow, Oklahoma location and a billboard lease hold agreement with Lamar.
    Location Intelligence

    Current Use by Public Records

    Billy Ray's Catfish ... Restaurant

    Suggested Use

    Restaurant Real Estate Agency Building Supply Dental Office Big Box & Wholesale Store Auto Repair Shop Nail Salon Hotel & Motel Gym & Fitness Center Pharmacy

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

    Location Insight

    • Map
    • Local Demand
    City
    Tulsa
    County
    Creek
    State
    Oklahoma
    Longitude
    -96.010639
    Latitude
    36.112228

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    FAQs

    What type of property is this?
    Conventional restaurant - Established Tulsa BBQ restaurant with Route 66 exposure for sale.
    Where is this conventional restaurant located?
    The property is located at 3524 Southwest Blvd Tulsa, OK.
    What are key features of this property?
    This property features: - Established, Profitable Business: Over 40 years of operation with an estimated $200,000 NOI.; - Prime Route 66 Location: High visibility and traffic from both local customers and tourists.; - Loyal Customer Base: Strong local following and repeat business.
    Request Owner's contact information
    3524 Southwest Blvd Tulsa, OK 74107
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    Tulsa, OK 74107
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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.

    More about this property
    3524 Southwest Blvd Tulsa, OK 74107
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    Listing Contact
    Ed Martin
    Ed Martin
    Real Estate License ID: 131601
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