Fully Leased Office
For Sale
Contact for pricing
2021 S Elm Pl, Broken Arrow, OK 74012
Office space for sale, conveniently located near major thoroughfares.
Property Size11,040 SF
Price / SF$131.34
Days on Market652
Property Features for 2021 S Elm Pl
General Information
Standard status
Active
Size
11,040 SF
Property subtype
Office
Occupancy
100%
Lease Type
NNN
Building Details
Buildings
2
Units
9
Tenancy
Multi
Listing Agency:
Samson Commercial Real Estate Services, LLC
Listed By:
Grant Lester · License #207982
Source:
Crexi
Added: Nov 18, 2024
Changed: Aug 31
Last Checked: Aug 31 at 2:40PM
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 Samson Commercial Real Estate Services, LLC
Investment Insights
Based on property information with market context.
This property features approximately 11,040 square feet of office space, divided between a 9,344-square-foot building and a 1,696-square-foot building. The property is fully leased and contains 7 office suites, ranging in size from approximately 428 square feet to 2,813 square feet. It fronts Elm Place, situated between 91st and 101st Streets. The location offers convenient access to both the BA Expressway and the Creek Turnpike. Additionally, the property is less than one mile from the New Orleans Square retail center. The property also includes an approximately 2,253 square foot house east of the office buildings.
Key Highlights
- Fully Leased office space providing immediate income.
- Substantial office space: ±11,040 sf total (±9,344 sf building and ±1,696 sf building).
- Convenient location between BA Expressway and Creek Turnpike.
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
$129,426
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
8.93%
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%
$2,588,520
$2.6M
Cap Rate 7%
$1,848,943
$1.8M
Cap Rate 9%
$1,438,067
$1.4M
Market Conditions
NOI Build-Up for 11,040 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
$221.2K $20.04/SF
− Vacancy
−$48.7K −$4.41/SF
EGI
$172.6K $15.63/SF
− OpEx
−$43.1K −$3.91/SF
NOI
$129.4K $11.72/SF
Area
Broken Arrow, OK
Vacancy
22.00%
Lease Rate
$20.04 /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%
$2,588,520
Cap Rate 7%
$1,848,943
Cap Rate 9%
$1,438,067
Alternative Uses
Best Use
Office B
$1.85M
$1.62M – $2.16M
NOI $129,426 @ 7.0% cap · market cap 8.93%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$2.58M
$2.26M – $3.01M
NOI $180,766 @ 7.0% cap · market cap 12.47%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
448
Businesses Nearby
Explore this area
Business Placement
Demographics for 74012, OK
63,918
Population
26,069
Households
2.5
Avg Household Size
37
Median Age
34%
College-Educated
94%
High-School Grad
24.8 sq mi
ZIP Area
2,577
Density / Sq Mi
$80,079
Median Household Income
$44,321
Median Earnings
$1,211
Median Rent
$223,100
Median Home Value
Market
Vacancy Rate% for Office in South region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Office building - Office space for sale, conveniently located near major thoroughfares.
Where is this office building located?
The property is located at 2021 S Elm Pl Broken Arrow, OK.
What is the asking price?
The asking price for this property is $1,450,000.
What are key features of this property?
This property features: Fully Leased office space providing immediate income.; Substantial office space: **±11,040 sf total (±9,344 sf building and ±1,696 sf building).**; Convenient location between BA Expressway and Creek Turnpike.
