Garage Condo Flex
For Sale
$300,000
C18-16571 S Broadway St, Glenpool, OK 74033
Insulated garage condo with a 16' overhead door, separately metered electric, and dedicated RV outlets.
Property Size2,400 SF
Price / SF$125
Days on Market166
Property Features for C18-16571 S Broadway St
General Information
Standard status
Active
Size
2,400 SF
Class
A
Site & Location
Highway Access
Yes
Fenced Yard
Yes
Utilities to Site
Yes
Additional Details
Drive-In Doors
1
Amenities
gated access
fenced access
24/7 security monitoring
wide drive aisles
separately metered electric service
dedicated RV outlets
LED lighting
water/sewer connections
internet access
cable access
pedestrian door
Building Details
Tenancy
Multi
Listing Agency:
Keller Williams Preferred
(918) 496-2252
Listed By:
Brian Frere · License #139098
(918) 298-6900
Source:
Exprealty
Added: Mar 31
Changed: Aug 22
Last Checked: Sep 12 at 2:37PM
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 Keller Williams Preferred
Investment Insights
Based on property information with market context.
This Class A garage condo is fully insulated and designed for premium storage and flex use, with accommodations that can support collectible autos, RVs, boats, and other high-value items. The unit measures 25' wide by 96' deep (2,400 sq ft) and includes a 16' overhead door, a pedestrian door, LED lighting, dedicated RV outlets, and a separately metered electric service. Utility and connectivity hookups include water/sewer connections and internet and cable access, providing a practical foundation for a hobby space or business setup.
The development offers gated and fenced access with 24/7 security monitoring and wide drive aisles (approximately 68') for maneuverability. The property is located just off Hwy 75, with drive times of about 10 minutes to Tulsa Hills, 15 minutes to South Tulsa, and 20 minutes to downtown Tulsa.
Ownership includes a flexible layout that can be customized by the buyer, with options noted for mezzanines, HVAC systems, epoxy flooring, and built-in cabinetry.
The development offers gated and fenced access with 24/7 security monitoring and wide drive aisles (approximately 68') for maneuverability. The property is located just off Hwy 75, with drive times of about 10 minutes to Tulsa Hills, 15 minutes to South Tulsa, and 20 minutes to downtown Tulsa.
Ownership includes a flexible layout that can be customized by the buyer, with options noted for mezzanines, HVAC systems, epoxy flooring, and built-in cabinetry.
Key Highlights
- 2,400 SF Class A garage condo, 25' wide and 96' deep with a 16' overhead door
- Fully insulated unit with separately metered electric service
- Dedicated RV outlets plus water/sewer connections and LED lighting
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
$20,624
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
6.87%
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%
$412,480
$412.5K
Cap Rate 7%
$294,629
$294.6K
Cap Rate 9%
$229,156
$229.2K
Market Conditions
NOI Build-Up for 2,400 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
$31.7K $13.20/SF
− Vacancy
−$2.2K −$0.92/SF
EGI
$29.5K $12.28/SF
− OpEx
−$8.8K −$3.68/SF
NOI
$20.6K $8.59/SF
Area
Tulsa County, OK
Vacancy
7.00%
Lease Rate
$13.20 /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%
$412,480
Cap Rate 7%
$294,629
Cap Rate 9%
$229,156
Alternative Uses
Best Use
Self Storage
$294.6K
$257.8K – $343.7K
NOI $20,624 @ 7.0% cap · market cap 6.87%
Second Best
Warehouse
$221.6K
$193.9K – $258.6K
NOI $15,514 @ 7.0% cap · market cap 5.17%
Theoretical Best
Office A
$540.9K
$473.3K – $631.1K
NOI $37,863 @ 7.0% cap · market cap 12.62%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
1
Drive-in doors
Multi-tenant
Tenancy
Yes
Fenced yard
Yes
Highway access
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
325
Businesses Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Demographics for 74033, OK
13,254
Population
4,868
Households
2.7
Avg Household Size
34
Median Age
25%
College-Educated
91%
High-School Grad
12.3 sq mi
ZIP Area
1,078
Density / Sq Mi
$77,306
Median Household Income
$43,382
Median Earnings
$1,292
Median Rent
$194,400
Median Home Value
Market
Vacancy Rate% for Industrial in South region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Flex space - Insulated garage condo with a 16' overhead door, separately metered electric, and dedicated RV outlets.
Where is this flex space located?
The property is located at C18-16571 S Broadway St Glenpool, OK.
What is the asking price?
The asking price for this property is $300,000.
What are key features of this property?
This property features: 2,400 SF Class A garage condo, 25' wide and 96' deep with a 16' overhead door; Fully insulated unit with separately metered electric service; Dedicated RV outlets plus water/sewer connections and LED lighting
