NNN Auto Parts
6512 E ADMIRAL PL Tulsa, OK 74115
For Sale
Contact for pricing
Advance Auto Parts property with NNN structure/foundation responsibility and an expiring lease on December 31, 2026.
Property Size6,860 SF
Lot Size0.74 Acres
Price / SF$131.20
Days on Market91
Property Features for 6512 E ADMIRAL PL
General Information
- Standard status
- Active
- Size
- 6,860 SF
- Lot size
- 0.74 Acres
- Property subtype
- Retail
Building Details
- Year Built
- 2006
Listing Agency:
Marcus & Millichap - Seattle
Listed By:
Hank Wolfer · License #WA 110547
Source:
Crexi
Added: Apr 24
Changed: Jul 23
Last Checked: Jul 23 at 10:08AM
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 Marcus & Millichap - Seattle
Investment Insights
Based on property information with market context.
This NNN auto parts building is occupied by Advance Auto Parts and operates under a lease with landlord responsibility limited to foundation and structure. The 6,860-square-foot building was constructed in 2006 on a 0.74-acre parcel of land. The tenant has notified the landlord that it will not be renewing available extension options, with the lease scheduled to expire December 31, 2026.
The property has frontage along East Admiral Place, a heavily trafficked thoroughfare that follows the original, historic alignment of Route 66. It is also situated about one block from the Interstate-244 on/off ramp, where traffic at that point is stated to be approximately 64,000 vehicles per day.
For sale as a dark Advance Auto Parts property, the asset presents a value-add component beginning January 1, 2027 for an investor or owner-user.
The property has frontage along East Admiral Place, a heavily trafficked thoroughfare that follows the original, historic alignment of Route 66. It is also situated about one block from the Interstate-244 on/off ramp, where traffic at that point is stated to be approximately 64,000 vehicles per day.
For sale as a dark Advance Auto Parts property, the asset presents a value-add component beginning January 1, 2027 for an investor or owner-user.
Key Highlights
- 6,860 SF building constructed in 2006 on a 0.74‑acre parcel in Tulsa, OK
- Tenant operates under an NNN lease with landlord only responsible for foundation/structure
- Lease expires December 31, 2026; no renewal options to extend per tenant notice
Financial Insights For 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 | $98.8k | $14.40 |
| − Vacancy | −$4.4k | −$0.65 |
| EGI | $94.3k | $13.75 |
| − OpEx | −$28.3k | −$4.13 |
| NOI | $66.0k | $9.63 |
6,860 SF · lease $14.40/SF/yr · vacancy 4.50% · expense 30.00%
Alternative Uses
Best Use
Retail
$943.4K
$825.5K – $1.10M
NOI $66,037 @ 7.0% cap · market cap 7.34%
Second Best
Industrial
$471.1K
$412.2K – $549.6K
NOI $32,978 @ 7.0% cap · market cap 3.66%
Theoretical Best
Office A
$1.46M
$1.28M – $1.71M
NOI $102,419 @ 7.0% cap · market cap 11.38%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Location Intelligence
Current Use by Public Records
Advance Auto Parts
Auto Parts Store
Similar Off Market Nearby
- Mobile Auto Repair Pros — 602 S Sheridan Rd #2b, Tulsa, OK 74112
- Chavez — 919 S Sheridan Rd, Tulsa, OK 74112, United States
- Acme Glass — 5947 E 7th St, Tulsa, OK 74112
- Blankenship Collision — 909 1/2 S Lakewood Ave, Tulsa, OK 74112
- Multi-Tires Chavez — 919 S Sheridan Rd, Tulsa, OK 74112
FAQs
What type of property is this?
Auto shop - Advance Auto Parts property with NNN structure/foundation responsibility and an expiring lease on December 31, 2026.
Where is this auto shop located?
The property is located at 6512 E ADMIRAL PL Tulsa, OK.
What is the asking price?
The asking price for this property is $900,000.
What are key features of this property?
This property features: 6,860 SF building constructed in 2006 on a 0.74‑acre parcel in Tulsa, OK; Tenant operates under an NNN lease with landlord only responsible for foundation/structure; Lease expires December 31, 2026; no renewal options to extend per tenant notice
