Renovated Flex Space with
New
For Sale
Contact for pricing
6839 E 40th St, Tulsa, OK 74145
Updated warehouse, showroom, office, and fenced outdoor storage areas support a range of industrial and display functions.
Property Size7,780 SF
Lot Size0.32 Acres
Price / SF$89.33
Days on Market4
Property Features for 6839 E 40th St
General Information
Standard status
Active
Size
7,780 SF
Lot size
0.32 Acres
Property subtype
RETAIL
Zoning
IL
Site & Location
Highway Access
Yes
Fenced Yard
Yes
Outdoor Storage
Yes
Warehouse & Industrial
Clear Height
13.5 ft
Warehouse Space
3,550 SF
Drive-In Doors
1
Voltage
240 V
Three-Phase Power
Yes
Conditioned Warehouse
Yes
Building Details
Year Built
1970
Year Renovated
2024
Construction
Block/Metal Construction with Brick Veneer
Listing Agency:
Equitas Realty Advisors LLC
(918) 280-9900
Listed By:
Monty Berry · License #83879
(918) 695-4162
Source:
Moodyscre
Added: Oct 2
Changed: Oct 4
Last Checked: Oct 4 at 2:31PM
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 Equitas Realty Advisors LLC
Investment Insights
Based on property information with market context.
Renovated in 2024, this flex property combines climate-controlled showroom and warehouse space with additional showroom, office, warehouse, and utility areas. Improvements include new warehouse HVAC, spray foam insulation, LED lighting, and epoxy floors. The showroom and lobby have vinyl plank flooring and updated lighting, while the exterior received new paint and landscaping. A gated, fenced outdoor storage area has new concrete and synthetic carpet. The building also has a 12-by-12-foot grade-level overhead door, 13.5-foot clear height at center, and 240V three-phase power.
The property is zoned IL (Industrial Light) and offers nearby access to 41st and Sheridan, I-44, and the BA Expressway. The existing dog training and boarding operator is expected to vacate upon sale. The rear loading and yard area lies within a railroad easement.
The property is zoned IL (Industrial Light) and offers nearby access to 41st and Sheridan, I-44, and the BA Expressway. The existing dog training and boarding operator is expected to vacate upon sale. The rear loading and yard area lies within a railroad easement.
Key Highlights
- Renovated in 2024 with updated HVAC, spray foam insulation, LED lighting, and epoxy warehouse flooring
- 13.5’ clear height at center
- 12’x12’ grade level overhead door to the rear warehouse
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
$45,415
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
6.53%
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%
$908,300
$908.3K
Cap Rate 7%
$648,786
$648.8K
Cap Rate 9%
$504,611
$504.6K
Market Conditions
NOI Build-Up for 7,780 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
$55.1K $7.08/SF
− Vacancy
−$1.7K −$0.21/SF
EGI
$53.4K $6.87/SF
− OpEx
−$8.0K −$1.03/SF
NOI
$45.4K $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%
$908,300
Cap Rate 7%
$648,786
Cap Rate 9%
$504,611
Alternative Uses
Best Use
Retail
$1.07M
$936.2K – $1.25M
NOI $74,893 @ 7.0% cap · market cap 10.78%
Second Best
Warehouse
$648.8K
$567.7K – $756.9K
NOI $45,415 @ 7.0% cap · market cap 6.53%
Theoretical Best
Office A
$1.66M
$1.45M – $1.94M
NOI $116,155 @ 7.0% cap · market cap 16.71%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
Current Use
Lease Details
13 ft
Clear height
1
Drive-in doors
Yes
Fenced yard
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
1,103
Businesses Nearby
Balanced
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
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
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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 - Updated warehouse, showroom, office, and fenced outdoor storage areas support a range of industrial and display functions.
Where is this flex space located?
The property is located at 6839 E 40th St Tulsa, OK.
What is the asking price?
The asking price for this property is $695,000.
What are key features of this property?
This property features: Renovated in 2024 with updated HVAC, spray foam insulation, LED lighting, and epoxy warehouse flooring; 13.5’ clear height at center; 12’x12’ grade level overhead door to the rear warehouse
