Mixed-Use Property with Multiple
For Sale
$599,000
8557 Frankoma Road, Tulsa, OK 74131
The property includes a double-wide home, two shop buildings, a horse barn, and six single-wide mobile homes.
Property Size2,252 SF
Price / SF$265.99
Days on Market72
Property Features for 8557 Frankoma Road
General Information
Standard status
Active
Size
2,252 SF
Property subtype
Mixed Use
Taxes and HOA fees
Annual Taxes
$1,267
Building Details
Building Size
2,252 SF
Year Built
2010
Listing Agency:
Coldwell Banker Select
Listed By:
Mary Carter · License #51498
(918) 227-6927
Source:
Thebradshaw
Added: Aug 22
Changed: Nov 1
Last Checked: Nov 1 at 1:40AM
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 Coldwell Banker Select
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Investment Insights
Based on property information with market context.
This mixed-use property spans more than 9 acres and includes a 2,252-square-foot double-wide home, a detached garage and shop, a second shop with concrete floors, and a horse barn with stalls. Six single-wide mobile homes are also on the property; two are currently rented.
The property is located on Frankoma Road and offers access to the Turnpike and major interstates. An industrial park borders one side, with a church on the other.
The property is located on Frankoma Road and offers access to the Turnpike and major interstates. An industrial park borders one side, with a church on the other.
Key Highlights
- More than 9 acres with multiple existing buildings
- 2,252‑square‑foot double‑wide home
- Six single‑wide mobile homes; two are currently rented
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$21,281
Cap Rate
3.55%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$425,620
$425.6K
Cap Rate 7%
$304,014
$304.0K
Cap Rate 9%
$236,456
$236.5K
Market Conditions
NOI Build-Up for 2,252 SF
Gross rent
$37.8K $16.80/SF
− Vacancy
−$3.8K −$1.68/SF
EGI
$34.1K $15.12/SF
− OpEx
−$12.8K −$5.67/SF
NOI
$21.3K $9.45/SF
Area
Tulsa, OK
Vacancy
10.00%
Lease Rate
$16.80 /SF/Yr
Expense Ratio
37.50%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$425,620
Cap Rate 7%
$304,014
Cap Rate 9%
$236,456
Alternative Uses
Best Use
Mixed Use
$304.0K
$266.0K – $354.7K
NOI $21,281 @ 7.0% cap · market cap 3.55%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$480.3K
$420.3K – $560.4K
NOI $33,622 @ 7.0% cap · market cap 5.61%
Zoning and permitted uses should be independently verified with authorities.
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Current Use
Location Intelligence
Trade Area within ½ mile
47
Businesses Nearby
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Business Placement
Demographics for 74131, OK
2,988
Population
1,078
Households
2.8
Avg Household Size
41
Median Age
26%
College-Educated
85%
High-School Grad
9.6 sq mi
ZIP Area
311
Density / Sq Mi
$64,653
Median Household Income
$47,240
Median Earnings
$1,048
Median Rent
$188,500
Median Home Value
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Frequently Asked Questions
What type of property is this?
Mixed-use property - The property includes a double-wide home, two shop buildings, a horse barn, and six single-wide mobile homes.
Where is this mixed-use property located?
The property is located at 8557 Frankoma Road Tulsa, OK.
What is the asking price?
The asking price for this property is $599,000.
What are key features of this property?
This property features: More than 9 acres with multiple existing buildings; 2,252‑square‑foot double‑wide home; Six single‑wide mobile homes; two are currently rented
