Current Use by Public Records
- Warehouses
Property Details for 1111 161 Ave
- Lot size
- 10.51 lot acres
- Property type
- Warehouses
- Property subtype
- Industrial properties
Description
This exceptional investment opportunity presents a 97,204-square-foot industrial warehouse and manufacturing facility in Tulsa, Oklahoma, currently under a long-term net lease. The property, located at 1111 N 161st E Ave, Tulsa, OK 74116, boasts a 6.50% cap rate and a substantial 9.3 years remaining on the lease, with a 10-year option. Mattsco Supply Company, a long-standing tenant (occupying the location for over 11 years), recently signed a 12-year lease commencing March 3, 2022, and expiring March 3, 2034. The lease includes annual rent increases of 2.25%. The property features a 10.51-acre lot, providing ample space. Building specifics include 18,000 square feet of office space and 72,204 square feet of warehouse space, offering 20 to 25-foot clear heights, numerous grade-level loading areas, and two dock-high loading areas. Additionally, there's over 5.5 acres of outdoor storage/yard space. The strategic location on N 161st E Avenue provides excellent access to Interstate 44 (Historic Route 66), a major transportation artery with over 77,700 vehicles per day. The asking price is $8,410,015, representing a price per square foot of $86.52. The property's strong fundamentals, long-term lease, and built-in rent escalations make it an attractive investment with minimal landlord responsibilities. The Net Operating Income (NOI) is $546,651. The property's location within a rapidly growing Tulsa market, with a population exceeding 780,000 and an average household income exceeding $72,411 within a 5-mile radius, further enhances its investment appeal. The APN is 0029924.
Value Estimations
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AI approach
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CAP approach
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Comparable approach
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Alternative Use
Location Insight
- Map
- Local Demand
- City
- Tulsa
- County
- Rogers
- State
- Oklahoma
- Longitude
- -95.796
- Latitude
- 36.17
