7-Unit Flex Space
For Sale
$2,116,871
4466 74th EastAvenue, Tulsa, OK 74145
Renovated multi-unit industrial property with full occupancy and flexible commercial functionality.
Property Size17,844 SF
Price / SF$118.63
Days on Market9
Property Features for 4466 74th EastAvenue
General Information
Standard status
Active
Size
17,844 SF
Property subtype
Industrial
Occupancy
100%
Additional Details
Cap Rate
7.5%
Taxes and HOA fees
Annual Taxes
$20,232
Amenities
None, Electric, Gas, A/C - Other
3
Other
Other.
Building Details
Year Built
1972
Year Renovated
2023
Listing Agency:
Linked Realty LLC
(918) 693-1673
Listed By:
Deren Huang
(918) 693-1673
Source:
Xome
Added: Aug 24
Changed: Aug 31
Last Checked: Aug 31 at 2:43PM
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 Linked Realty LLC
Investment Insights
Based on property information with market context.
Built in 1972, this flex space property contains 17,844 square feet across seven units. The asset is fully occupied and underwent renovation work in 2023, including a roof coating backed by a transferable 10-year warranty.
Located at 4466 74th East Avenue in Tulsa, Oklahoma, the property offers an established industrial configuration with multiple occupiable units. Its reported 7.5% cap rate and complete occupancy provide key operating metrics for evaluating the asset.
Located at 4466 74th East Avenue in Tulsa, Oklahoma, the property offers an established industrial configuration with multiple occupiable units. Its reported 7.5% cap rate and complete occupancy provide key operating metrics for evaluating the asset.
Key Highlights
- 17,844 SF flex space property
- Seven units in total
- 100% occupied
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
$104,164
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
4.92%
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%
$2,083,280
$2.1M
Cap Rate 7%
$1,488,057
$1.5M
Cap Rate 9%
$1,157,378
$1.2M
Market Conditions
NOI Build-Up for 17,844 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
$126.3K $7.08/SF
− Vacancy
−$3.8K −$0.21/SF
EGI
$122.5K $6.87/SF
− OpEx
−$18.4K −$1.03/SF
NOI
$104.2K $5.84/SF
Area
Tulsa, OK
Vacancy
3.00%
Lease Rate
$7.08 /SF/Yr
Expense Ratio
15.00%
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%
$2,083,280
Cap Rate 7%
$1,488,057
Cap Rate 9%
$1,157,378
Alternative Uses
Best Use
Warehouse
$1.49M
$1.30M – $1.74M
NOI $104,164 @ 7.0% cap · market cap 4.92%
Second Best
Flex RnD
$1.32M
$1.16M – $1.54M
NOI $92,557 @ 7.0% cap · market cap 4.37%
Theoretical Best
Office A
$3.81M
$3.33M – $4.44M
NOI $266,409 @ 7.0% cap · market cap 12.59%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
100%
Occupancy
Location Intelligence
Trade Area within ½ mile
1,044
Businesses Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Demographics for 74145, OK
18,055
Population
8,523
Households
2.1
Avg Household Size
36
Median Age
27%
College-Educated
90%
High-School Grad
5.9 sq mi
ZIP Area
3,060
Density / Sq Mi
$55,118
Median Household Income
$37,021
Median Earnings
$1,039
Median Rent
$160,700
Median Home Value
Market
Vacancy Rate% for Industrial in Tulsa, OK
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Flex space - Renovated multi-unit industrial property with full occupancy and flexible commercial functionality.
Where is this flex space located?
The property is located at 4466 74th EastAvenue Tulsa, OK.
What is the asking price?
The asking price for this property is $2,116,871.
What are key features of this property?
This property features: 17,844 SF flex space property; Seven units in total; 100% occupied
