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    201 Cheyenne Ave Tulsa, OK 74103

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    For Sale
    Contact for pricing

    Prime CBD location, 30,746 SF, two buildings.

    Property size:
    30,746 SF

    Property Features for 201 Cheyenne Ave

    General Information

    Property type
    Mixed-use properties
    Square Feet
    30,746 SF

    Building Details

    Buildings
    2
    Stories
    3

    We can help!

    Listing Contact
    Jonathan Belzley
    Jonathan Belzley

    Listing Agency: TYTO Realty Advisors Listing Agent: Jonathan Belzley

    Displayed information is deemed reliable but is not guaranteed and should be independently verified.

    Learn more

    Overview

    This exceptional mixed-use property, located at 201 S Cheyenne Ave in Tulsa, Oklahoma, presents a unique investment opportunity. The former Seismograph Services Building comprises two three-story buildings totaling 30,746 square feet on a 21,000 square foot lot. Situated in the heart of Tulsa's Central Business District (CBD), this vacant property is zoned CH and offers significant potential for residential conversion or office/storage use. The asking price is $2,300,000, translating to $74.81 per square foot. Key features include a partial basement with an interior dock, providing convenient access and loading capabilities. The property boasts approximately 18-20 on-site parking spaces, a significant advantage in a bustling urban environment. Its prime location offers immediate proximity to the BOK Center, numerous hotels, the Federal Courthouse, and a variety of restaurants, all within a single block. Further enhancing its appeal, this property is located in both an Opportunity Zone and a Tax Increment Financing (TIFF) District, potentially unlocking additional incentives for the right developer. The building is currently in shell condition, allowing for complete customization to suit a wide range of development plans. Adjacent to a 1200-car public parking garage, this property offers unparalleled convenience and accessibility.
    Property Profile 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
    Tulsa
    State
    Oklahoma
    Longitude
    -95.993878359206
    Latitude
    36.153427311263

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    FAQs

    What type of property is this?
    Mixed-use property - Prime CBD location, 30,746 SF, two buildings.
    Where is this mixed-use property located?
    The property is located at 201 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: $2,300,000 asking price for a mixed-use property.; 30,746 square feet on a 21,000 square foot lot, with a price per square foot of $74.81.; Two three-story buildings in Tulsa, OK.
    (918) 899-0198 Call to check price and availability
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    201 Cheyenne Ave Tulsa, OK 74103
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    Tulsa, OK 74103
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    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
    201 Cheyenne Ave Tulsa, OK 74103
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    Contact for Pricing
    Please call us for current price
    and status of this listing Jonathan Belzley
    Jonathan Belzley
    Real Estate License ID: 131065
    (918) 899-0198
    Learn more
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