Add Listing
    For Sale
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    Back to Search
    Mixed-Use Property in Central District Title is generated by Realmo AI

    201 S Cheyenne Ave, Tulsa, OK 74103

    View on Map
    Claim this Listing
    For Sale
    Contact for pricing

    Mixed-use property in Tulsa's Central Business District for sale.

    Type:Mixed Use, Multifamily, Office, Retail
    Property size:
    30,746 SF
    Price / SF:
    $74/SF
    Added:
    Jul 11, 2024
    Days on Market:
    693
    Last Refresh:
    May 12 at 8:56 pm

    Property Features for 201 S Cheyenne Ave

    General Information

    Standard status
    Active
    Size
    30,746 SF
    Property subtype
    Mixed Use, Multifamily, Office, Retail

    We can help!

    Listing Contact
    Jonathan Belzley

    Listing agent Jonathan Belzley License #131065

    Listing office TYTO Realty Advisors

    Listing date Jul 11, 2024

    Source Crexi

    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 TYTO Realty Advisors

    HighLights

    • Central business district location
    • Adjacent to 1200 car public garage
    • Opportunity zone
    • TIFF district
    • Partial basement with interior dock
    • Within one block of BOK Center, Hotels, Federal Courthouse, Restaurants

    Overview

    Located in the Central Business District, this mixed-use property is adjacent to a 1200-car public garage. The property, totaling 30746 square feet, includes a partial basement with an interior dock and 18 to 20 on-site parking spaces. The property is in shell condition and is situated within an Opportunity Zone and a TIFF District, with other available incentives. It is located within one block of the BOK Center, hotels, the Federal Courthouse, and various restaurants.
    Location Intelligence

    Current Use by Public Records

    THIS IS NOT ... Hotel & Motel

    Suggested Use

    Real Estate Agency Restaurant Spa & Massage Center Dental Office Hair Salon Nail Salon Building Supply Auto Repair Shop Pharmacy Gym & Fitness Center

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Tulsa
    County
    Creek
    State
    Oklahoma
    Longitude
    -95.993375
    Latitude
    36.153419

    Nearby Similar for Sale

    • $799,000
      4,450 SF

      Downtown Tulsa Commercial Opportunity

      Freestanding building in Tulsa's East Village District with expansion potential.
      621 S Kenosha Avenue, Tulsa, OK 74120
      View Details
    • $1,000,000
      13,000 SF

      Tulsa Commercial Investment Opportunity

      Two buildings with office and warehouse space, immediate income.
      6943 E 12th Street, Tulsa, OK 74112
      View Details
    • $625,000
      8,502 SF

      Versatile Commercial Building in Tulsa

      Event center and office building with flexible spaces and amenities.
      1823 W 51st Street, Tulsa, OK 74107
      View Details
    • $500,000
      4,250 SF

      Tulsa Church on One Acre

      Well-maintained church with sanctuary, classrooms, and equipped kitchen.
      2610 E Apache Street, Tulsa, OK 74110
      View Details
    • $499,000
      745 SF

      Tulsa Commercial Investment Opportunity

      Commercial property near Gilcrease Expressway with high visibility and traffic.
      6110 W 41st Street, Tulsa, OK 74107
      View Details
    • $1,350,000
      4,960 SF

      Tulsa Commercial Building For Sale

      Commercial building in Tulsa, Oklahoma available for sale or lease.
      7810 E 108th Street S, Tulsa, OK 74133
      View Details
    • $749,900
      7,116 SF

      Tulsa Church with Soccer Field

      Church with good parking, classrooms, fellowship hall, and soccer field.
      1437 S 129th East Avenue, Tulsa, OK 74108
      View Details
    • $999,000
      2,700 SF

      Multi-Use Property in Tulsa, OK

      5.8 acres with multi-use zoning and highway access.
      2494 N Lewis Avenue E, Tulsa, OK 74110
      View Details
    • $405,000
      3,164 SF

      Tulsa Office Building on Acreage

      3164 sq ft office building on 1+ acre lot.
      15890 E Pine Street, Tulsa, OK 74116
      View Details
    • $500,000
      5,184 SF

      Tulsa Commercial Building For Sale

      Multi-use building near 31st and Sheridan in Tulsa, Oklahoma.
      3227 S Lakewood Avenue, Tulsa, OK 74135
      View Details
    • $8,000
      13,000 SF

      Tulsa Office Building For Sale

      Two-story office building near Downtown Tulsa with versatile spaces.
      6943 E 12th Street, Tulsa, OK 74112
      View Details
    • $650,000
      6,424 SF

      Tulsa Church on Peoria Avenue

      Well-kept church on nearly 4 acres in Tulsa.
      5424 N Peoria Avenue, Tulsa, OK 74126
      View Details

    FAQs

    What type of property is this?
    Mixed-use property - Mixed-use property in Tulsa's Central Business District for sale.
    Where is this mixed-use property located?
    The property is located at 201 S Cheyenne Ave Tulsa, OK.
    What is the asking price?
    The asking price for this property is $2,300,000.
    What are key features of this property?
    This property features: Central business district location; Adjacent to 1200 car public garage; Opportunity zone
    We can help!
    Contact for Pricing
    Please call us for current price
    and status of this listing
    Jonathan Belzley
    Real Estate License ID: 131065
    Learn More
    Request Owner's contact information
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    Thank You for Inquiry
    201 S Cheyenne Ave, Tulsa, OK 74103
    letter with green check mark
    Check your email
    We sent you the
    agent's contact details. yellow underline
    Can't find it?
    Please check your junk/spam folder.
    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!