Turnkey Restaurant on Historic
For Sale
Contact for pricing
4070 Southwest Blvd., Tulsa, OK 74107
Freestanding, income-producing commercial asset on historic Route 66.
Property Size5,450 SF
Price / SF$183.49
Days on Market932
Property Features for 4070 Southwest Blvd.
General Information
Standard status
Active
Size
5,450 SF
Class
B
Total Parking Spaces
46
Property subtype
Retail
Zoning
Industrial Light
Investment Type
Owner/User
Building Details
Year Built
1983
Buildings
1
Stories
1
Tenancy
Single
Listing Agency:
Bauer & Associates
(918) 665-1210
Listed By:
Brad Baldwin · License #OK 172300
Source:
Crexi
Added: Feb 9, 2024
Changed: Aug 24
Last Checked: Aug 28 at 6:19PM
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 Bauer & Associates
Investment Insights
Based on property information with market context.
Located along historic Route 66 in Tulsa’s Red Fork corridor, Ollie’s Station Restaurant offers the opportunity to acquire a freestanding, income-producing commercial asset. The 5,450 square foot building is positioned on a highly visible stretch of Southwest Boulevard and features 46 on-site parking spaces. Zoned IL (Industrial Light), the property allows for a variety of commercial and light industrial uses, making it suited for investors seeking continued restaurant operation, rebranding, or repositioning. The sale includes existing restaurant equipment. The property’s combination of Route 66 exposure, historical significance, and zoning flexibility creates multiple exit strategies for both owner-users and investors. Red Fork played a pivotal role in the early development of Route 66, serving as a key western gateway into Tulsa. Today, the corridor continues to benefit from heritage tourism, local patronage, and revitalization interest, positioning this property for both near-term cash flow and long-term appreciation driven by experiential retail and destination dining trends.
Key Highlights
- Turnkey restaurant with existing equipment included, offering immediate income potential.
- Located on historic Route 66 in Tulsa's Red Fork corridor.
- Zoned IL (Industrial Light), providing flexibility for various commercial and light industrial uses.
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
$61,533
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
6.15%
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%
$1,230,660
$1.2M
Cap Rate 7%
$879,043
$879.0K
Cap Rate 9%
$683,700
$683.7K
Market Conditions
NOI Build-Up for 5,450 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
$85.0K $15.60/SF
− Vacancy
−$3.0K −$0.55/SF
EGI
$82.0K $15.05/SF
− OpEx
−$20.5K −$3.76/SF
NOI
$61.5K $11.29/SF
Area
Tulsa, OK
Vacancy
3.50%
Lease Rate
$15.60 /SF/Yr
Expense Ratio
25.00%
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%
$1,230,660
Cap Rate 7%
$879,043
Cap Rate 9%
$683,700
Alternative Uses
Best Use
Specialty Retail
$879.0K
$769.2K – $1.03M
NOI $61,533 @ 7.0% cap · market cap 6.15%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.16M
$1.02M – $1.36M
NOI $81,368 @ 7.0% cap · market cap 8.14%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
264
Businesses Nearby
23k
Monthly Visits Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Foot Traffic Nearby
Shops & Services 77%
Dining 23%
Dollar Tree
Shops & Services
5,722 visits/mo
0.3 miles
Arby's
Dining
5,194 visits/mo
0.5 miles
Family Dollar
Shops & Services
4,238 visits/mo
0.4 miles
AutoZone
Shops & Services
3,757 visits/mo
0.3 miles
Ollie's Bargain Outlet
Shops & Services
2,996 visits/mo
0.1 miles
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
Market
Vacancy Rate% for Retail in Tulsa, OK
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Conventional restaurant - Freestanding, income-producing commercial asset on historic Route 66.
Where is this conventional restaurant located?
The property is located at 4070 Southwest Blvd. Tulsa, OK.
What is the asking price?
The asking price for this property is $999,999.
What are key features of this property?
This property features: Turnkey restaurant with existing equipment included, offering immediate income potential.; Located on historic Route 66 in Tulsa's Red Fork corridor.; Zoned IL (Industrial Light), providing flexibility for various commercial and light industrial uses.
