Turnkey Restaurant
601 S Sheridan Rd Tulsa, OK 74112
New
For Sale
$225,000
Restaurant building for sale with included equipment and a 12-year-old roof.
Property Size1,200 SF
Price / SF$187.50
Days on Market4
Property Features for 601 S Sheridan Rd
General Information
- Standard status
- Active
- Size
- 1,200 SF
Building Details
- Year Built
- 1965
Listing Agency:
Keller Williams Realty
(918) 766-0001
Listed By:
Tanner Gregory · License #208763
Source:
Accentrealtors
Added: Jul 21
Changed: Jul 22
Last Checked: Jul 23 at 5:16AM
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 Realty
Investment Insights
Based on property information with market context.
This restaurant building is currently operated as Leon's BBQ. The sale includes all equipment, with the exception of the decor. The roof is approximately 12 years old, and the smoker was purchased about six months ago.
The building is positioned on a high-traffic intersection with signage.
Offered for sale as a conventional restaurant property with the existing operating components included.
The building is positioned on a high-traffic intersection with signage.
Offered for sale as a conventional restaurant property with the existing operating components included.
Key Highlights
- Restaurant building built in 1965, currently known as Leon's BBQ
- Sold with included restaurant equipment (decor excluded)
- High‑traffic intersection location with signage
Financial Insights For Specialty Retail
Simulate Cap Rate and NOI
NOI Build-Up
- 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.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $18.7k | $15.60 |
| − Vacancy | −$655 | −$0.55 |
| EGI | $18.1k | $15.05 |
| − OpEx | −$4.5k | −$3.76 |
| NOI | $13.5k | $11.29 |
1,200 SF · lease $15.60/SF/yr · vacancy 3.50% · expense 25.00%
Alternative Uses
Best Use
Specialty Retail
$193.6K
$169.4K – $225.8K
NOI $13,549 @ 7.0% cap · market cap 6.02%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$255.9K
$224.0K – $298.6K
NOI $17,916 @ 7.0% cap · market cap 7.96%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Location Intelligence
Current Use by Public Records
Leon's Smoke Shack ...
Restaurant
Sugar Ruth Bakery
Bakery
FAQs
What type of property is this?
Conventional restaurant - Restaurant building for sale with included equipment and a 12-year-old roof.
Where is this conventional restaurant located?
The property is located at 601 S Sheridan Rd Tulsa, OK.
What is the asking price?
The asking price for this property is $225,000.
What are key features of this property?
This property features: Restaurant building built in 1965, currently known as Leon's BBQ; Sold with included restaurant equipment (decor excluded); High‑traffic intersection location with signage
