1111 161 Ave Tulsa, OK 74116

Property Details for 1111 161 Ave

Lot size

10.51 lot acres

Property size

97,204 SF

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.

Location Insight

City

Tulsa

County

Rogers

State

Oklahoma

Longitude

-95.796

Latitude

36.17