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    10846 Memorial Dr Tulsa, OK 74133
    Property profile & analytics

    10846 Memorial Dr, Tulsa, OK 74133

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    • Retail properties & Spaces
    • 48,288 SF
    • 4.97 lot acres
    Off-Market
    Value Estimations
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • F5 Storm Shelters of Tulsa / Building Supply / General Contractor
    • Memorial Wine & Spirits / (Bike/Boat/Book/etc) Store / Wine and Liquor Store
    • Lucky Foot Massage & Body Massage of Tulsa / Alternative Medicine Practice / Spa & Massage Center
    • Cato Fashions / Clothing & Fashion Store
    • JEENA BROW & BEAUTY STUDIO / Hair Salon / Nail Salon

    Property Details for 10846 Memorial Dr

    Year built
    2006
    Lot size
    4.97 lot acres
    Property type
    Retail properties & Spaces
    Property subtype
    Retail space

    Description

    South Memorial Plaza, located at 10846 S Memorial Dr, Tulsa, OK 74133, offers exceptional retail space in a thriving commercial corridor. This two-building, single-story center totaling 48,288 square feet sits on 4.97 acres and features 15 suites, with 6,315 square feet currently available. Individual spaces range from a minimum of 1,400 square feet to a maximum contiguous space of 2,840 square feet, ideal for a variety of retail uses. Built in 2006 and zoned RS-3, the property benefits from its strategic location on Memorial Drive, south of State Route 364, placing it within a high-traffic area connecting major Tulsa suburbs and the city's downtown. The plaza enjoys a strong tenant base, with five businesses operating for over 15 years and several others opening within the last eight years, showcasing consistent leasing demand. The property's proximity to major retailers like Walmart, Costco, Lowe's, and Home Goods, along with other popular restaurants and services such as Chipotle, Aldi, and CVS, further enhances its appeal and visibility. Attractive tenant improvement allowances and rent abatement are available for qualified tenants. This presents a unique opportunity to establish a presence in a high-performing retail center within a dynamic Tulsa market.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

    Get a detailed, property-specific estimation — fast and free

    Location Insight

    • Map
    • Local Demand
    City
    Tulsa
    County
    Grant
    State
    Oklahoma
    Longitude
    -95.8891
    Latitude
    36.0063

    Comparable in this City

    • Value Estimation by Request
      5,698 SF

      7110 Memorial Dr

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      51,360 SF

      8238 71St St

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      1.67 Acres

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    • Value Estimation by Request

      7945 Memorial Dr

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    • Value Estimation by Request
      1.67 Acres

      68Th St

      Land
      0 68Th St, Tulsa, OK 74133
      View Details
    • Value Estimation
      $900,000
      8,088 SF

      8027 Sheridan Rd, Unit A

      RETAIL STORES (PERSONAL SERVICES)
      8027 Sheridan Rd, Tulsa, OK 74133-8946
      View Details

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    Similar Nearby for Lease

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      2,303 SF

      Retail Space Near Holland Hall

      Retail space with marquee sign, near Holland Hall school.
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      3,670 SF

      Retail Space Near Costco

      Retail space available across from Costco with high traffic.
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      Retail space with high visibility and excellent parking.
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      1,160 SF

      Retail Space Near Woodland Hills

      Retail space near Woodland Hills Mall and residential neighborhoods.
      8040-8408 S Memorial Dr, Tulsa, OK 74133
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    Tulsa, OK 74133
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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.

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