Remodeled Retail Space For
For Sale
$760,000
9135 East 61st Street, Tulsa, OK 74133
Remodeled retail space with security system and detached storage.
Property Size4,900 SF
Days on Market277
Property Features for 9135 East 61st Street
General Information
Standard status
Active
Size
4,900 SF
Property subtype
Retail
Building Details
Building Size
4,900 SF
Year Built
1980
Listing Agency:
McGraw Commercial Properties | Tulsa
(918) 409-5611
Listed By:
Warren Stewart · License #138198
(918) 409-5611
Source:
Mcgrawcp
Added: Nov 25, 2025
Changed: Aug 26
Last Checked: Aug 29 at 8:37AM
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 McGraw Commercial Properties | Tulsa
Investment Insights
Based on property information with market context.
This 4,900 square foot retail space features a new roof installed in June 2022 and an interior remodel completed between 2023 and 2024. The property is equipped with a comprehensive security system, including a 32-camera surveillance system, a burglar alarm system, and a fire, smoke, and CO2 alarm system. Keypad-controlled access is available for areas beyond the lobby. The interior features new commercial-grade flooring, granite countertops, and newer interior paint throughout. Lighting was upgraded to LED in 2019. A new west end air handler/coil heat pump was installed in October 2023, and the HVAC system is on a service plan with Air Assurance. New electrical breaker panels were installed in 2023 and 2024. An exterior light timer was installed in 2023. The property also includes detached storage space.
Key Highlights
- Comprehensive Security System with 32‑camera surveillance, burglar, fire, smoke & CO2 alarms, and keypad access.
- Recent Interior Remodel completed in 2023‑2024.
- New Roof installed in June 2022.
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
$59,013
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
7.76%
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%
$1,180,260
$1.2M
Cap Rate 7%
$843,043
$843.0K
Cap Rate 9%
$655,700
$655.7K
Market Conditions
NOI Build-Up for 4,900 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
$91.1K $18.60/SF
− Vacancy
−$6.8K −$1.40/SF
EGI
$84.3K $17.21/SF
− OpEx
−$25.3K −$5.16/SF
NOI
$59.0K $12.04/SF
Area
ZIP 74133
Vacancy
7.50%
Lease Rate
$18.60 /SF/Yr
Expense Ratio
30.00%
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%
$1,180,260
Cap Rate 7%
$843,043
Cap Rate 9%
$655,700
Alternative Uses
Best Use
Retail
$843.0K
$737.7K – $983.6K
NOI $59,013 @ 7.0% cap · market cap 7.76%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.30M
$1.14M – $1.52M
NOI $91,022 @ 7.0% cap · market cap 11.98%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
16
Businesses Nearby
Explore this area
Business Placement
Demographics for 74133, OK
48,331
Population
22,638
Households
2.1
Avg Household Size
38
Median Age
42%
College-Educated
95%
High-School Grad
13.7 sq mi
ZIP Area
3,528
Density / Sq Mi
$73,983
Median Household Income
$43,897
Median Earnings
$1,129
Median Rent
$254,700
Median Home Value
Market
Vacancy Rate% for Retail in Tulsa, OK
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Retail space - Remodeled retail space with security system and detached storage.
Where is this retail space located?
The property is located at 9135 East 61st Street Tulsa, OK.
What is the asking price?
The asking price for this property is $760,000.
What are key features of this property?
This property features: Comprehensive Security System with 32‑camera surveillance, burglar, fire, smoke & CO2 alarms, and keypad access.; Recent Interior Remodel completed in 2023‑2024.; New Roof installed in June 2022.
