Listing Agency: Coldwell Banker Select m***@eriemoves.com Show Phone

Listed By: Amy Baumann Show Phone

Source: Exprealty

Added: May 23, 2024 Changed: Oct 7 Last Checked: Oct 19 at 7:50AM

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Investment Insights

Based on property information with market context.

This recently remodeled office suite offers a practical mix of shared and private space, including a reception area and conference area plus four offices. The interior includes three bathrooms, including a private bath in the owner’s office. A full kitchen with appliances is also in place, with additional room off the kitchen for laundry or storage.

The property is positioned in the professional 71st and Yale corridor of Tulsa and is shown by appointment only. An attached garage provides extra storage convenience.

For a tenant or buyer seeking an owner-user or investor-ready setup, the space is designed to support an efficient day-to-day office workflow with dedicated rooms for meetings and private work.

Key Highlights

• Remodeled office space with 2,892 SF in the 71st and Yale professional corridor of Tulsa
• Reception area plus conference area and 4 offices
• 3 bathrooms including a private bath in the owner’s office

Financial Insights

Estimated NOI and Cap Rate

NOI / Yr

$37,555

Cap Rate

8.35%

Suggested Prices Based on Cap Rates

Cap Rate 5%

$751,100 $751.1K

Cap Rate 7%

$536,500 $536.5K

Cap Rate 9%

$417,278 $417.3K

Is this asking price fair?

Market Conditions

NOI Build-Up for 2,892 SF

Gross rent

$58.0K $20.04/SF

− Vacancy

−$7.9K −$2.73/SF

EGI

$50.1K $17.31/SF

− OpEx

−$12.5K −$4.33/SF

NOI

$37.6K $12.99/SF

Area

ZIP 74136

Vacancy

13.60%

Lease Rate

$20.04 /SF/Yr

Expense Ratio

25.00%

Simulate Cap Rate and NOI

Suggested Prices Based on Cap Rates

Cap Rate 5%

$751,100

Cap Rate 7%

$536,500

Cap Rate 9%

$417,278

Alternative Uses

Best Use

Office B

$536.5K

$469.4K – $625.9K (±1% cap)

NOI $37,555 @ 7.0% cap · market cap 8.35%

Second Best

—

—

no second resolved use

Theoretical Best

Office A

$627.1K

$548.7K – $731.6K (±1% cap)

NOI $43,897 @ 7.0% cap · market cap 9.75%

Zoning and permitted uses should be independently verified with authorities. How Realmo checks its estimates

Property Analytics

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Current Use

Office Express Janitorial ... General Contractor

Suggested Use

Top Pick Building Supply Restaurant Auto Parts Store Big Box & Wholesale Store HVAC Service Kitchen & Bath Showroom

Score = modeled unmet demand for each use within ~1 mi (higher = bigger opportunity). Zoning and permitted uses should be independently verified with local authorities.

Location Intelligence

Trade Area within ½ mile

1,302

Businesses Nearby

Explore this area Business Placement

Demographics for 74136, OK

30,416

Population

16,375

Households

1.9

Avg Household Size

38

Median Age

38%

College-Educated

91%

High-School Grad

7.7 sq mi

ZIP Area

3,950

Density / Sq Mi

$51,314

Median Household Income

$35,072

Median Earnings

$926

Median Rent

$292,200

Median Home Value

Market

Vacancy Rate% for Office in Tulsa, OK

10.4% 2019

11.7% 2020

12.1% 2021

11.9% 2022

10.4% 2023

9.2% 2024

10.6% 2025

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Frequently Asked Questions

What type of property is this?

Office building - Remodeled office layout includes reception, conference area, four offices, kitchen, and attached garage for storage.

Where is this office building located?

The property is located at 7181 S Braden Ave Tulsa, OK.

What is the asking price?

The asking price for this property is $450,000.

What are key features of this property?

This property features: Remodeled office space with 2,892 SF in the 71st and Yale professional corridor of Tulsa; Reception area plus conference area and 4 offices; 3 bathrooms including a private bath in the owner’s office