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    6510 24Th St Tulsa, OK 74129

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    For Lease
    Contact for pricing

    1931 sq ft Office, Updated 2019

    Lot size:
    1,931 SF

    Property Features for 6510 24Th St

    General Information

    Property type
    Office Units
    Lease Type
    Gross Lease
    RSF (Rentable sq. ft)
    1,931 SF
    Total Rate
    2515.13

    Building Details

    Year Built/Renovated
    1951/2019
    Buildings
    1
    Stories
    1

    Spaces For Lease

    at 6510 24Th St, Tulsa, OK 74129 Contact us
    Unit

    $15 /Mo

    Size
    1,931 SF
    Contact us

    We can help!

    Listing Contact
    Sheila Cooper
    Sheila Cooper

    Listing Agency: Bauer & Associates Listing Agent: Sheila Cooper

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

    Learn more

    Property Insight Report

    Overview

    This exceptional single-tenant office building, situated in Tulsa's vibrant Midtown, offers 1,931 square feet of versatile space ideal for a variety of businesses. Built in 1951 and extensively renovated in 2019, the property boasts a blend of classic charm and modern functionality. The layout includes 5 to 7 offices, complemented by hardwood floors and a convenient kitchen area. Enjoy the benefits of an outdoor patio and ample greenspace, providing a tranquil setting for employees or clients. Parking is readily available, with both covered and uncovered options. The property is fully fenced, ensuring security and privacy. Its prime Midtown location offers easy access to amenities and boasts high visibility, with a daily traffic count of 16,627 vehicles on nearby Sheridan Road (INCOG 2022 data). The property sits on a 0.64-acre lot and is zoned OL. This single-story building presents a unique opportunity to acquire a well-maintained, updated office space in a highly desirable area. The property's APN is 20650-93-14-08910.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Triangle Software (Bike/Boat/Book/etc) Store Triarc Solutions Tech Support Center

    Suggested Use

    Real Estate Agency Restaurant Law Firm Spa & Massage Center Dental Office Hair Salon Nail Salon Building Supply Auto Repair Shop 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
    -95.904089365237
    Latitude
    36.128848633508

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    FAQs

    What type of property is this?
    Office units - 1931 sq ft Office, Updated 2019
    Where is this office units located?
    The property is located at 6510 24Th St Tulsa, OK.
    What is the lease rate?
    The lease rate is $15 SF/Yr.
    What are key features of this property?
    This property features: 1,931 SF single-tenant office building in Tulsa's Midtown.; Renovated in 2019, offering a blend of classic and modern features.; Features 5-7 offices, hardwood floors, kitchen, outdoor patio, and ample greenspace.
    (918) 724-5140 Call to check price and availability
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    6510 24Th St Tulsa, OK 74129
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    Tulsa, OK 74129
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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
    6510 24Th St Tulsa, OK 74129
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    Contact for Pricing
    Please call us for current price
    and status of this listing Sheila Cooper
    Sheila Cooper
    Real Estate License ID: 152963
    (918) 724-5140 (918) 665-1210
    Learn more
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