Flex Space with Retail
For Sale
$515,000
A-1208 N Mingo Rd, Tulsa, OK 74116
Warehouse, office, and retail components create a versatile commercial layout.
Property Size3,200 SF
Price / SF$160.94
Days on Market135
Property Features for A-1208 N Mingo Rd
General Information
Standard status
Active
Size
3,200 SF
Taxes and HOA fees
Annual Taxes
$4,990
Listing Agency:
Norris & Associates
(918) 758-9999
Listed By:
Gregory Norris · License #123466
(918) 758-9999
Source:
Exprealty
Added: Mar 31
Changed: Aug 9
Last Checked: Aug 12 at 12:19PM
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 Norris & Associates
Investment Insights
Based on property information with market context.
This flex property combines warehouse space, office areas, and a substantial retail component within one commercial asset. The configuration supports multiple operational functions while maintaining a clear separation between customer-facing and back-of-house areas.
The property occupies a corner lot on N Mingo Rd in Tulsa, with paved parking available on site. Its setting near industrial areas and the airport adds relevant context for businesses requiring access to established commercial surroundings and air transportation facilities.
The property occupies a corner lot on N Mingo Rd in Tulsa, with paved parking available on site. Its setting near industrial areas and the airport adds relevant context for businesses requiring access to established commercial surroundings and air transportation facilities.
Key Highlights
- Warehouse, office, and large retail components in one flex property
- Corner‑lot positioning on N Mingo Rd in Tulsa, OK
- Paved parking on site
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
$36,936
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
7.17%
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%
$738,720
$738.7K
Cap Rate 7%
$527,657
$527.7K
Cap Rate 9%
$410,400
$410.4K
Market Conditions
NOI Build-Up for 3,200 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
$57.6K $18.00/SF
− Vacancy
−$8.4K −$2.61/SF
EGI
$49.2K $15.39/SF
− OpEx
−$12.3K −$3.85/SF
NOI
$36.9K $11.54/SF
Area
Tulsa, OK
Vacancy
14.50%
Lease Rate
$18.00 /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%
$738,720
Cap Rate 7%
$527,657
Cap Rate 9%
$410,400
Alternative Uses
Best Use
Office B
$527.7K
$461.7K – $615.6K
NOI $36,936 @ 7.0% cap · market cap 7.17%
Second Best
Retail
$440.1K
$385.1K – $513.4K
NOI $30,804 @ 7.0% cap · market cap 5.98%
Theoretical Best
Office A
$682.5K
$597.2K – $796.3K
NOI $47,776 @ 7.0% cap · market cap 9.28%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
188
Businesses Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Demographics for 74116, OK
4,069
Population
1,665
Households
2.4
Avg Household Size
35
Median Age
9%
College-Educated
75%
High-School Grad
18.0 sq mi
ZIP Area
226
Density / Sq Mi
$56,296
Median Household Income
$34,938
Median Earnings
$783
Median Rent
$137,500
Median Home Value
Market
Vacancy Rate% for Office in Tulsa, OK
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Flex space - Warehouse, office, and retail components create a versatile commercial layout.
Where is this flex space located?
The property is located at A-1208 N Mingo Rd Tulsa, OK.
What is the asking price?
The asking price for this property is $515,000.
What are key features of this property?
This property features: Warehouse, office, and large retail components in one flex property; Corner‑lot positioning on N Mingo Rd in Tulsa, OK; Paved parking on site
