Insulated Flex Building with Loading
For Sale
$435,000
8302 W 51 Street S, Tulsa, OK 74107
Commercial, Tulsa, OK
Property Size3,000 SF
Lot Size3.46 Acres
Price / SF$145
Days on Market206
Property Features for 8302 W 51 Street S
General Information
Property type
Commercial Sale
Property subtype
Other
Zoning
AG
Parking features
Paved or Surfaced
Security features
Security System
Interior features
Security System-Leased, Smoke Detector
Exterior features
Lighting, Storage
Fencing
Chain Link
Subdivision
Tulsa Co Unplatted
Elementary school district
Tulsa - Sch Dist (1)
Middle school district
Tulsa - Sch Dist (1)
High school district
Tulsa - Sch Dist (1)
Directions
POV I-244 West towards OKC, exit 1-B for 51st street, proceed west on 51st street 2.6 miles.
Standard status
Active
APN
99230923011890
Size
3,000 SF
Lot size
3.46 Acres
Taxes and HOA fees
Tax Year
2025
Tax Description
See Addendum/Court House Docs
Tax Annual Amount
4574
Legal Description
See Addendum/Court House Docs
Utilities
Utilities
Water Available
Heating system
Space Heater
Amenities
mini-split cooling units
heating unit
finished office/check-in area
covered front porch entry
Building Details
Year built
2014
Flooring type
Concrete
Building materials
Aluminum
Roof type
Metal
Additional Structures
Storage
Listing Agency:
Chinowth & Cohen
(918) 943-3009
Listed By:
John Gibson Miller
(918) 277-1546
Added: Mar 5
Changed: Aug 27
Last Checked: Sep 27 at 10:06PM
MLS# 2607710
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 3,000-square-foot flex building, constructed in 2014, occupies 3.46 acres with an additional 1.86 acres included, for 5.32 acres total. The aluminum metal structure has spray-foam insulation, reinforced concrete floors, exposed wood trusses, and an open-span interior. Two 14-foot overhead loading doors accommodate trucks, trailers, and equipment. The property also includes a finished office and check-in area, rustic wood accents, a covered front porch, two mini-split cooling units, and an additional heating unit.
Zoned AG, the property is located just off 51st St. with frontage access and paved or surfaced parking. Rural water is available, while water and septic systems are not currently installed. Additional features include chain-link fencing, lighting, storage, a metal roof, and leased security and smoke-detection systems. Prior use as a farmers market retail space supports consideration of agricultural retail, vendor markets, warehouse use, events, workshop space, or equipment storage.
Zoned AG, the property is located just off 51st St. with frontage access and paved or surfaced parking. Rural water is available, while water and septic systems are not currently installed. Additional features include chain-link fencing, lighting, storage, a metal roof, and leased security and smoke-detection systems. Prior use as a farmers market retail space supports consideration of agricultural retail, vendor markets, warehouse use, events, workshop space, or equipment storage.
Key Highlights
- 3,000 sq. ft. metal building on 5.32 acres (CH) m/l total acres
- Additional 1.86 (CH) acres included with the 3.46‑acre parcel
- Two 14‑ft overhead loading doors for trucks, trailers, and equipment
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
$28,879
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
6.64%
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%
$577,580
$577.6K
Cap Rate 7%
$412,557
$412.6K
Cap Rate 9%
$320,878
$320.9K
Market Conditions
NOI Build-Up for 3,000 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
$43.2K $14.40/SF
− Vacancy
−$1.9K −$0.65/SF
EGI
$41.3K $13.75/SF
− OpEx
−$12.4K −$4.13/SF
NOI
$28.9K $9.63/SF
Area
Tulsa, OK
Vacancy
4.50%
Lease Rate
$14.40 /SF/Yr
Expense Ratio
30.00%
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%
$577,580
Cap Rate 7%
$412,557
Cap Rate 9%
$320,878
Alternative Uses
Best Use
Retail
$412.6K
$361.0K – $481.3K
NOI $28,879 @ 7.0% cap · market cap 6.64%
Second Best
Warehouse
$250.2K
$218.9K – $291.9K
NOI $17,512 @ 7.0% cap · market cap 4.03%
Theoretical Best
Office A
$639.9K
$559.9K – $746.5K
NOI $44,790 @ 7.0% cap · market cap 10.30%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Unlock full access to Insights
Subscribe to Realmo Intelligence
Open Analytics
Current Use
Lease Details
2
Drive-in doors
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
36
Businesses Nearby
Well-served
Demand for This Use
Explore this area
Business Placement
Demographics for 74107, OK
19,453
Population
8,566
Households
2.3
Avg Household Size
36
Median Age
20%
College-Educated
86%
High-School Grad
25.4 sq mi
ZIP Area
766
Density / Sq Mi
$53,098
Median Household Income
$36,274
Median Earnings
$938
Median Rent
$124,100
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Industrial in Tulsa, OK
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Flex space - Open-span agricultural-zoned building with truck access, finished office space, concrete floors, and covered entry porch.
Where is this flex space located?
The property is located at 8302 W 51 Street S Tulsa, OK.
What is the asking price?
The asking price for this property is $435,000.
What are key features of this property?
This property features: 3,000 sq. ft. metal building on 5.32 acres (CH) m/l total acres; Additional 1.86 (CH) acres included with the 3.46‑acre parcel; Two 14‑ft overhead loading doors for trucks, trailers, and equipment
