Retail Warehouse Campus with
For Sale
$2,500,000
851 S Sheridan Rd, Tulsa, OK 74112
Two steel showroom buildings plus a paved parking lot offer docked loading and CS zoning along Sheridan Road.
Property Size36,192 SF
Price / SF$69.08
Days on Market112
Property Features for 851 S Sheridan Rd
General Information
Standard status
Active
Size
36,192 SF
Property subtype
Vacant-User
Zoning
CS
Additional Details
Dock-High Doors
1
Amenities
Turnkey Owner-User Opportunity. Snow's Furniture, the long-time occupant, will vacate upon close, delivering a clean, fully available campus to an owner-user or value-add investor.
Hard-corner positioning on a heavily trafficked north-south arterial in central Tulsa, surrounded by national and regional retail.
A dedicated paved parking lot parcel plus surface parking around both buildings provide a parking ratio well above typical retail standards for customer and employee use.
Building Details
Building Size
36,192 SF
Year Built
1976
Year Renovated
2007
Stories
2
Construction
steel
Listing Agency:
San Diego Office
(858) 373-3100
Listed By:
Peter Eltaeb · License #CA: 02143936
(858) 373-3140
Source:
Marcusmillichap
Added: Jul 3
Changed: Oct 21
Last Checked: Oct 20 at 5:09PM
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 San Diego Office
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Investment Insights
Based on property information with market context.
This sale offering consists of a retail and warehouse campus totaling 36,192 square feet, featuring two steel-construction showroom buildings and a separate 0.49-acre paved parking lot, all delivered together. The main showroom building is two stories and contains approximately 24,000 square feet (about 12,000 square feet per floor). A secondary showroom building adds approximately 12,192 square feet. Both improvements were originally built in 1976 and renovated in 2007, and the property includes one dock for loading.
The site is zoned CS (Commercial Shopping), supporting a broad range of retail and service uses. The campus is located with prominent frontage along Sheridan Road and offers ample on-site parking. The current occupant is Snow’s Furniture, with the ownership expected to vacate upon sale, delivering a fully available campus at close.
Offered as a clean, fully available owner-user or investor acquisition, the property provides multiple showroom spaces within a docked retail/warehouse configuration and a dedicated paved parking area on-site.
The site is zoned CS (Commercial Shopping), supporting a broad range of retail and service uses. The campus is located with prominent frontage along Sheridan Road and offers ample on-site parking. The current occupant is Snow’s Furniture, with the ownership expected to vacate upon sale, delivering a fully available campus at close.
Offered as a clean, fully available owner-user or investor acquisition, the property provides multiple showroom spaces within a docked retail/warehouse configuration and a dedicated paved parking area on-site.
Key Highlights
- 36,192 SF retail and warehouse campus in central Tulsa, OK, offered with two steel showroom buildings plus a separate 0.49‑acre paved parking lot
- Main showroom is a two‑story 24,000 SF building (~12,000 SF per floor) with one dock for loading
- Secondary showroom building offers 12,192 SF of additional space
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$211,269
Cap Rate
8.45%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$4,225,380
$4.2M
Cap Rate 7%
$3,018,129
$3.0M
Cap Rate 9%
$2,347,433
$2.3M
Market Conditions
NOI Build-Up for 36,192 SF
Gross rent
$256.2K $7.08/SF
− Vacancy
−$7.7K −$0.21/SF
EGI
$248.6K $6.87/SF
− OpEx
−$37.3K −$1.03/SF
NOI
$211.3K $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 Rate 5%
$4,225,380
Cap Rate 7%
$3,018,129
Cap Rate 9%
$2,347,433
Alternative Uses
Best Use
Retail
$4.98M
$4.35M – $5.81M
NOI $348,399 @ 7.0% cap · market cap 13.94%
Second Best
Warehouse
$3.02M
$2.64M – $3.52M
NOI $211,269 @ 7.0% cap · market cap 8.45%
Theoretical Best
Office A
$7.72M
$6.75M – $9.01M
NOI $540,344 @ 7.0% cap · market cap 21.61%
Zoning and permitted uses should be independently verified with authorities.
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Current Use
Lease Details
1
Dock-high doors
Location Intelligence
Trade Area within ½ mile
580
Businesses Nearby
Under-served
Demand for This Use
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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
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Market
Vacancy Rate% for Industrial in Tulsa, OK
Frequently Asked Questions
What type of property is this?
Flex space - Two steel showroom buildings plus a paved parking lot offer docked loading and CS zoning along Sheridan Road.
Where is this flex space located?
The property is located at 851 S Sheridan Rd Tulsa, OK.
What is the asking price?
The asking price for this property is $2,500,000.
What are key features of this property?
This property features: 36,192 SF retail and warehouse campus in central Tulsa, OK, offered with two steel showroom buildings plus a separate 0.49‑acre paved parking lot; Main showroom is a two‑story 24,000 SF building (~12,000 SF per floor) with one dock for loading; Secondary showroom building offers 12,192 SF of additional space
