Two-Building Flex
For Sale
$990,000
6943 E 12th Street, Tulsa, OK 74112
Commercial, Tulsa, OK
Property Size13,000 SF
Lot Size0.69 Acres
Price / SF$76.15
Days on Market156
Property Features for 6943 E 12th Street
General Information
Property type
Commercial Sale
Property subtype
Office
Zoning
3785093110
Interior features
Mini-Kitchen
Exterior features
Lighting
Subdivision
Sheridan Industrial District
Elementary school district
Tulsa - Sch Dist (1)
Middle school district
Tulsa - Sch Dist (1)
High school district
Tulsa - Sch Dist (1)
Directions
Turn right onto S. Yale Ave. Continue on S. Yale Ave. for approx 4.2 miles. Turn left onto E. 21st St. Continue for about 0.5 miles. Turn right onto S. Sheridan Road. Continue on S. Sheridan Road for approx. 4.2 miles. Turn left onto E. 12th St. Continue for about 0.2 miles. Destination will be on your left.
Standard status
Active
Size
13,000 SF
Lot size
0.69 Acres
Taxes and HOA fees
Tax Year
2024
Tax Description
LOT 12 BLOCK 2 SHERIDAN INDUSTRIAL DISTRICT
Tax Annual Amount
9260
Legal Description
LOT 12 BLOCK 2 SHERIDAN INDUSTRIAL DISTRICT
Utilities
Heating system
Central
Cooling system
Central Air
Amenities
reception area
handicap accessible
distribution loading access
Building Details
Year built
1996
Building materials
Frame
Listing Agency:
Keller Williams Preferred · Keller Williams Realty
(918) 496-2252
Listed By:
Greta Archibald · License #210111
(539) 302-9409
Added: Mar 30
Changed: Aug 19
Last Checked: Sep 1 at 4:06AM
MLS# 2611166
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.
Investment Insights
Based on property information with market context.
This flex property comprises two buildings totaling 13,000 square feet. The 8,000-square-foot office building has two stories, a reception area, handicap accessibility, central heating and cooling, and a mini-kitchen. Its layout can accommodate single-tenant or multi-tenant occupancy. The second building contains 5,000 square feet of warehouse and storage space and is currently leased.
The property includes distribution loading access, on-site parking, exterior lighting, and frame construction. Office furniture is negotiable, and the site is located at 6943 E 12th Street in Tulsa, Oklahoma. Built in 1996, the property is suited to an owner-user or investor seeking office and warehouse functions within one asset.
The property includes distribution loading access, on-site parking, exterior lighting, and frame construction. Office furniture is negotiable, and the site is located at 6943 E 12th Street in Tulsa, Oklahoma. Built in 1996, the property is suited to an owner-user or investor seeking office and warehouse functions within one asset.
Key Highlights
- 13,000 total square feet across two buildings
- 8,000‑square‑foot, two‑story office building with reception area and handicap accessibility
- 5,000‑square‑foot warehouse and storage building currently leased
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
$75,887
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
7.67%
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%
$1,517,740
$1.5M
Cap Rate 7%
$1,084,100
$1.1M
Cap Rate 9%
$843,189
$843.2K
Market Conditions
NOI Build-Up for 13,000 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
$92.0K $7.08/SF
− Vacancy
−$2.8K −$0.21/SF
EGI
$89.3K $6.87/SF
− OpEx
−$13.4K −$1.03/SF
NOI
$75.9K $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%
$1,517,740
Cap Rate 7%
$1,084,100
Cap Rate 9%
$843,189
Alternative Uses
Best Use
Office B
$2.14M
$1.88M – $2.50M
NOI $150,053 @ 7.0% cap · market cap 15.16%
Second Best
Warehouse
$1.08M
$948.6K – $1.26M
NOI $75,887 @ 7.0% cap · market cap 7.67%
Theoretical Best
Office A
$2.77M
$2.43M – $3.23M
NOI $194,089 @ 7.0% cap · market cap 19.60%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
663
Businesses Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Demographics for 74112, OK
20,810
Population
10,524
Households
2
Avg Household Size
38
Median Age
27%
College-Educated
87%
High-School Grad
6.8 sq mi
ZIP Area
3,060
Density / Sq Mi
$55,848
Median Household Income
$37,151
Median Earnings
$1,024
Median Rent
$149,800
Median Home Value
Market
Vacancy Rate% for Office in Tulsa, OK
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Flex space - Two-story office space is paired with a leased warehouse component and distribution loading access.
Where is this flex space located?
The property is located at 6943 E 12th Street Tulsa, OK.
What is the asking price?
The asking price for this property is $990,000.
What are key features of this property?
This property features: 13,000 total square feet across two buildings; 8,000‑square‑foot, two‑story office building with reception area and handicap accessibility; 5,000‑square‑foot warehouse and storage building currently leased
