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    9371 Delaware Ave Tulsa, OK 74137

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    9371 Delaware Ave Tulsa, OK 74137

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    • Land
    • 0.63 lot acres
    Off-Market
    Value Estimations
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Land

    Property Details for 9371 Delaware Ave

    Lot size
    0.63 lot acres
    Property type
    Land

    Description

    Three commercial lots totaling between 0.63 and 0.99 acres are available for sale in a prime south Tulsa location near the intersection of 96th Street and Riverside Drive. The property boasts a CS zoning designation, permitting a wide range of uses including restaurant, retail, medical, or office development. This presents a unique opportunity for investors and developers seeking high-visibility sites in a thriving commercial corridor. The immediate trade area is densely populated and features a strong mix of national retailers and established businesses, including Kohl's, PetCo, Shoe Carnival, Walmart Neighborhood Market, and Starbucks, ensuring high foot traffic and visibility for any new development. Furthermore, the area enjoys exceptional demographics, with average household incomes exceeding $100,000 within a three-mile radius, indicating strong consumer spending power and a stable market for commercial ventures. The lots are situated in Tulsa County, Oklahoma, with a precise address of 9371 S Delaware Ave, Tulsa, OK 74137. This strategic location offers easy access to major transportation arteries, providing convenient access for both employees and customers. This is an exceptional opportunity to acquire land in a high-growth area with significant potential for return on investment.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

    Location Insight

    • Map
    • Local Demand
    City
    Tulsa
    County
    Tulsa
    State
    Oklahoma
    Longitude
    -95.9489
    Latitude
    36.0289

    Comparable in this City

    • Value Estimation by Request
      20.92 Acres

      10800 Delaware Ave

      Land • 20.92 Acres
      10800 Delaware Ave, Tulsa, OK 74137
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    • Value Estimation
      $1,055,000
      4,600 SF

      3009 101st Pl

      COMMERCIAL (GENERAL) • 4,600 SF
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    • Value Estimation by Request
      35,623 SF

      8246 Lewis Ave

      Office properties & Spaces • 35,623 SF
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    • Value Estimation by Request
      4.54 Acres

      11302 Delaware Ave

      VACANT COMMERCIAL LAND • 4.54 Acres
      11302 Delaware Ave, Tulsa, OK 74137
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    • Value Estimation by Request
      0.87 Acres

      5202 81st St

      VACANT COMMERCIAL LAND • 0.87 Acres
      5202 81st St, Tulsa, OK 74137-2201
      View Details
    • Value Estimation by Request
      6.53 Acres

      Tulsa, OK 74137

      VACANT COMMERCIAL LAND • 6.53 Acres
      Tulsa, OK 74137
      View Details

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      Riverside Land For Sale

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      1,300 SF

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      Vacant Land in Jenks Southeast

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    • $465,000
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      South Tulsa Homesite Opportunity

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      Turnkey Medical Office Space

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      1,400 SF

      Second Floor Office Space Available

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      Multi-Building Office Complex For Rent

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      Multi-Building Office Complex in Tulsa

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      Class A Office Building

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      New Retail Center Space Available

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    Tulsa, OK 74137
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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
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    9371 Delaware Ave, Tulsa, OK, 74137

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