Turnkey Restaurant on Historic Route
For Sale
$1,279,000
6263 E 66th Ct, Tulsa, OK 74133
Fully renovated restaurant with indoor, outdoor, and private room seating.
Property Size6,277 SF
Lot Size1.28 Acres
Price / SF$203.76
Days on Market376
Property Features for 6263 E 66th Ct
General Information
Standard status
Active
Size
6,277 SF
Lot size
1.28 Acres
Taxes and HOA fees
Annual Taxes
$10,195
Listing Agency:
Impact Realty, LLC.
(918) 906-4861
Listed By:
Walker Davidson · License #185389
(918) 906-4861
Source:
Exprealty
Added: Aug 13, 2025
Changed: Aug 22
Last Checked: Aug 23 at 6:17AM
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 Impact Realty, LLC.
Investment Insights
Based on property information with market context.
This turnkey restaurant property, situated on Historic Route 66 and I-44, offers 6,277 square feet of fully renovated space ready for immediate operation. The metal frame and roof structure houses a dining area with seating for 80, an outdoor area accommodating 50, and a private room also seating 50, suitable for private or corporate events. The building features a full bar, secured liquor room, and point of sale system, along with a natural gas fireplace. The remodeled dining hall boasts a modern interior with new furniture and a full-size salad bar. The fully stocked kitchen includes stoves with dual vent-hoods, fryers, flat tops, a full-sized ice machine, Vulcan steamer, South Bend double gas oven, and stainless steel prep tables. There are two bay walk-in coolers, one bay walk-in freezer, and updated Ansul fire suppression and security systems with interior and exterior cameras. Additional amenities include an employee office and restroom, as well as a janitorial room with a washer and dryer. Exterior features comprise an all-metal red-iron framed building, a metal roof, and an underground sprinkler system. A covered pergola provides seating for 50. Ample parking is available for 55 vehicles, along with a fenced-in parking and storage area for staff.
Key Highlights
- Turnkey restaurant ready to open immediately with all equipment included.
- Fully renovated 6,277 sq. ft. metal frame building with indoor (80), outdoor (50), and private room (50) seating.
- Located on Historic Route 66 and I‑44, offering high visibility and accessibility.
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
$87,621
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
6.85%
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%
$1,752,420
$1.8M
Cap Rate 7%
$1,251,729
$1.3M
Cap Rate 9%
$973,567
$973.6K
Market Conditions
NOI Build-Up for 6,277 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
$124.3K $19.80/SF
− Vacancy
−$7.5K −$1.19/SF
EGI
$116.8K $18.61/SF
− OpEx
−$29.2K −$4.65/SF
NOI
$87.6K $13.96/SF
Area
ZIP 74133
Vacancy
6.00%
Lease Rate
$19.80 /SF/Yr
Expense Ratio
25.00%
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%
$1,752,420
Cap Rate 7%
$1,251,729
Cap Rate 9%
$973,567
Alternative Uses
Best Use
Specialty Retail
$1.25M
$1.10M – $1.46M
NOI $87,621 @ 7.0% cap · market cap 6.85%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.67M
$1.46M – $1.94M
NOI $116,602 @ 7.0% cap · market cap 9.12%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
1,036
Businesses Nearby
42k
Monthly Visits Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Foot Traffic Nearby
Dining 56%
Shops & Services 28%
Groceries 16%
Braum's Ice Cream & Dairy Stores
Dining
20,076 visits/mo
0.4 miles
Liquor Mart
Groceries
6,480 visits/mo
0.4 miles
Arvest Bank
Shops & Services
6,461 visits/mo
0.4 miles
Senor Tequila
Dining
3,269 visits/mo
0.3 miles
Phillips 66
Shops & Services
2,355 visits/mo
0.4 miles
Demographics for 74133, OK
48,331
Population
22,638
Households
2.1
Avg Household Size
38
Median Age
42%
College-Educated
95%
High-School Grad
13.7 sq mi
ZIP Area
3,528
Density / Sq Mi
$73,983
Median Household Income
$43,897
Median Earnings
$1,129
Median Rent
$254,700
Median Home Value
Market
Vacancy Rate% for Retail in Tulsa, OK
Questions? Ask Rey
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Similar Off Market Nearby
- Just Catering By Orr Nalp — 6125 S Sheridan Rd Suite H, Tulsa, OK 74133
Frequently Asked Questions
What type of property is this?
Restaurant - Fully renovated restaurant with indoor, outdoor, and private room seating.
Where is this restaurant located?
The property is located at 6263 E 66th Ct Tulsa, OK.
What is the asking price?
The asking price for this property is $1,279,000.
What are key features of this property?
This property features: Turnkey restaurant ready to open immediately with all equipment included.; Fully renovated 6,277 sq. ft. metal frame building with indoor (80), outdoor (50), and private room (50) seating.; Located on Historic Route 66 and I‑44, offering **high visibility and accessibility**.
