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    Turnkey Restaurant Opportunity in Tulsa Title is generated by Realmo AI

    601 S Sheridan Road, Tulsa, OK 74112

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    Claim this Listing
    For Sale
    $225,000

    COMMERCIAL - Tulsa, OK

    Property size:
    1,200 SF
    Lot size:
    0.19 Acres
    Price / SF:
    $187/SF
    Added:
    Sep 29, 2025
    Days on Market:
    230
    Last Refresh:
    May 16 at 9:06 pm

    Property Features for 601 S Sheridan Road

    General Information

    Property type
    Commercial Sale
    Property subtype
    Other
    Zoning
    CS
    Interior features
    Attic Exhaust Fan, Cable TV Wired, Floored Attic, Public Restrooms, Smoke Detector
    Exterior features
    Pole Sign, Sidewalk
    Fencing
    Privacy
    Standard status
    Active
    APN
    37800-93-02-10760
    Size
    1,200 SF
    Lot size
    0.19 Acres

    Taxes and HOA fees

    Tax Year
    2024
    Tax Description
    Lot 11 Blk 13, Sheridan Hills
    Tax Annual Amount
    1852

    Utilities

    Utilities
    Cable Available
    Heating system
    Central
    Cooling system
    Central Air

    Building Details

    Year built
    1965
    Flooring type
    Concrete, Tile
    Building materials
    Concrete
    Roof type
    Composition

    We can help!

    Listing Contact
    Tanner Gregory

    Listing agent Tanner Gregory License #208763

    Listing office Keller Williams Realty 1740 SE Washington Blvd, Bartlesville, OK

    Listing date Sep 29, 2025

    MLS# 2540099

    Copyright © 2026 MLS Technology, Inc. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.

    HighLights

    • Fully Equipped Restaurant: Includes all essential restaurant equipment for immediate operation.
    • High‑Traffic Location: Situated on a high‑traffic intersection, providing excellent visibility.
    • Signage Included: Features existing signage to attract customers.
    • Recently Purchased Smoker: The smoker is only six months old.
    • Public Restrooms: Equipped with public restrooms.
    • Durable Construction: Built with concrete materials.

    Overview

    This commercial building, currently operating as a barbecue restaurant, is available for purchase. The sale includes all existing equipment, excluding decor. Located at a high-traffic intersection with signage, the property offers potential for continuing the current business or establishing a new concept. The building is zoned CS. The property has a size of 1200 square feet and sits on a lot of 0.185 acres. The roof is 12 years old, and the smoker was purchased six months ago. The property is located in Tulsa, Oklahoma.

    Financial Insights

    Value Estimation Calculated for Specialty Retail

    Conservative
    $150.5K
    NOI $13,549 @ 9.00% cap · cautious / downside scenario
    Moderate
    $193.6K
    NOI $13,549 @ 7.00% cap · market / base-case scenario
    Aggressive
    $271.0K
    NOI $13,549 @ 5.00% cap · optimistic / upside scenario

    NOI & Cap Rate Calculator

    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.
         Calculated for Specialty Retail

    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 Use Scenarios

    Best Use
    Specialty Retail
    $193.6K
    $169.4K – $225.8K (±1% cap)
    NOI $13,549 @ 7.0% cap · market cap 6.02%
    Second Best
    Retail
    $165.0K
    $144.4K – $192.5K (±1% cap)
    NOI $11,552 @ 7.0% cap · market cap 5.13%
    Theoretical Best
    Office A
    $255.9K
    $224.0K – $298.6K (±1% cap)
    NOI $17,916 @ 7.0% cap · market cap 7.96%
    Zoning and permitted uses should be independently verified with local authorities.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Leon's Smoke Shack ... Restaurant Sugar Ruth Bakery Bakery

    Suggested Use

    Real Estate Agency Law Firm Restaurant Spa & Massage Center Dental Office Hair Salon Nail Salon Gym & Fitness Center Building Supply Pharmacy

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

    Location Insight

    • Map
    • Local Demand
    City
    Tulsa
    County
    Creek
    State
    Oklahoma
    Longitude
    -95.9043287
    Latitude
    36.1522349

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    FAQs

    What type of property is this?
    Conventional restaurant - Restaurant building for sale with equipment included on high-traffic intersection.
    Where is this conventional restaurant located?
    The property is located at 601 S Sheridan Road 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: Fully Equipped Restaurant: Includes all essential restaurant equipment for immediate operation.; High‑Traffic Location: Situated on a high‑traffic intersection, providing excellent visibility.; Signage Included: Features existing signage to attract customers.
    (918) 766-0001
    We can help!
    Listing Contact
    Tanner Gregory
    Real Estate License ID: 208763
    Learn More
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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
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