Flex Space with Overhead
New
For Sale
$430,000
8302 W 51st Street, Tulsa, OK 74107
Commercial, Tulsa, OK
Property Size3,000 SF
Lot Size5.32 Acres
Price / SF$143.33
Days on Market5
Property Features for 8302 W 51st Street
General Information
Property type
Commercial Sale
Property subtype
Other
Zoning
AG
Security features
Security System
Interior features
Security System-Leased, Smoke Detector
Exterior features
Lighting
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
POB I-244 West towards OKC, exit 1-B for 51st street, proceed west on 51st street 2.6 miles.
Standard status
Active
APN
99125-91-25-28010 and 99230-92-30-11890
Size
3,000 SF
Lot size
5.32 Acres
Taxes and HOA fees
Tax Year
2025
Tax Description
BEG SECR SE TH N299.22 NW38.39 WLY CRV LF 214.36 CRV LF 196.56 SW84.69 WLY CRV RT 369.06 SW8.93 S4.69 E835.29 POB LESS PRT S1320 E839.29 SE SE BEG 672.53W SECR SE TH N37.49 SWLY CRV RT 157.73 SW8.93 S4.69 E162.76 POB SEC 25 19 11 & PRT N/2 NW NE NE & NW NE NE NE BEG 672.53W NEC NE TH S24.75 E344.15 N24.75 W343.89 POB SEC 36 19 11 3.46ACS
Tax Annual Amount
4574
Legal Description
BEG SECR SE TH N299.22 NW38.39 WLY CRV LF 214.36 CRV LF 196.56 SW84.69 WLY CRV RT 369.06 SW8.93 S4.69 E835.29 POB LESS PRT S1320 E839.29 SE SE BEG 672.53W SECR SE TH N37.49 SWLY CRV RT 157.73 SW8.93 S4.69 E162.76 POB SEC 25 19 11 & PRT N/2 NW NE NE & NW NE NE NE BEG 672.53W NEC NE TH S24.75 E344.15 N24.75 W343.89 POB SEC 36 19 11 3.46ACS
Utilities
Utilities
Water Available
Heating system
Space Heater
Amenities
mini-split cooling units
gas heating unit
finished office/check-in area
covered front porch entry
Building Details
Year built
2014
Floors in Building
1
Building materials
Steel
Roof type
Metal
Listing Agency:
Chinowth & Cohen
(918) 943-3009
Listed By:
John Gibson Miller
(918) 277-1546
Added: Oct 1
Changed: Oct 2
Last Checked: Oct 5 at 7:06AM
MLS# 2636169
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 steel flex building, constructed in 2014, sits on 5.316 acres. Its open-span interior has reinforced concrete flooring and exposed wood trusses, with two 14-foot overhead doors for loading. A finished office and check-in area, covered entry porch, two mini-split cooling units, and a separate gas heater round out the building. Electrical service is 400 amp, with a commercial gas line and water available at the west property line; rural water is also available.
Zoned AG, the property has exceptions for educational and farmers market uses. The building’s overhead doors accommodate access for trucks, trailers, and equipment, and the open interior can support warehouse, workshop, event, or equipment-storage functions.
Zoned AG, the property has exceptions for educational and farmers market uses. The building’s overhead doors accommodate access for trucks, trailers, and equipment, and the open interior can support warehouse, workshop, event, or equipment-storage functions.
Key Highlights
- 5.316‑acre property with a 3,000‑square‑foot steel building
- Open‑span interior with reinforced concrete floors
- Two 14‑foot overhead loading doors
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
$17,512
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
4.07%
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%
$350,240
$350.2K
Cap Rate 7%
$250,171
$250.2K
Cap Rate 9%
$194,578
$194.6K
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
$21.2K $7.08/SF
− Vacancy
−$637 −$0.21/SF
EGI
$20.6K $6.87/SF
− OpEx
−$3.1K −$1.03/SF
NOI
$17.5K $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%
$350,240
Cap Rate 7%
$250,171
Cap Rate 9%
$194,578
Alternative Uses
Best Use
Warehouse
$250.2K
$218.9K – $291.9K
NOI $17,512 @ 7.0% cap · market cap 4.07%
Second Best
Flex RnD
$222.3K
$194.5K – $259.4K
NOI $15,561 @ 7.0% cap · market cap 3.62%
Theoretical Best
Office A
$639.9K
$559.9K – $746.5K
NOI $44,790 @ 7.0% cap · market cap 10.42%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
Current Use
Lease Details
2
Drive-in doors
Yes
Paved road access
Yes
Utilities to site
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
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Frequently Asked Questions
What type of property is this?
Flex space - Agricultural zoning includes exceptions for educational and farmers market uses.
Where is this flex space located?
The property is located at 8302 W 51st Street Tulsa, OK.
What is the asking price?
The asking price for this property is $430,000.
What are key features of this property?
This property features: 5.316‑acre property with a 3,000‑square‑foot steel building; Open‑span interior with reinforced concrete floors; Two 14‑foot overhead loading doors
