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    The Largest CRE Database in the US with Over 1 Million Listings
    Property profile & analytics

    2705 Skelly Dr Tulsa, OK 74105

    • Office Properties & Spaces
    • 46,005 SF
    • 2.93 lot acres
    OFF-MARKET
    Value Estimations
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Office Properties & Spaces

    Property Details for 2705 Skelly Dr

    Lot size
    2.93 lot acres
    Property size
    46,005 SF
    Property type
    Office Properties & Spaces

    Description

    This exceptional commercial property presents a unique redevelopment opportunity in a high-traffic Tulsa location. The 46,005-square-foot, three-story office building sits on a 2.93-acre lot (127,608 square feet) and boasts excellent visibility and exposure along I-44 (Skelly Drive). The property features three available spaces ranging from 11,362 to 19,375 square feet, offering flexibility for various uses. The OM zoning allows for multiple potential uses, making it ideal for adaptive reuse or new construction. The building benefits from a newer thermoplastic polyolefin (TPO) roof and enjoys convenient access via the I-44 service road. With over 95,800 cars passing daily, this location offers unparalleled visibility and accessibility. The land is currently leased for $2,000 per month, with over 50 years remaining on the lease. The property is located outside of the flood zone (Zone X), providing additional peace of mind. This is a rare opportunity to acquire a substantial commercial property in a prime Tulsa location with significant redevelopment potential. Specific space sizes include a 15,268 square foot upper floor, a 19,375 square foot middle floor, and an 11,362 square foot lower floor.

    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
    -95.9517
    Latitude
    36.0909

    Comparable in this City

    • Value Estimation by Request
      16,388 SF

      5272 Lewis Ave

      Office Properties & Spaces • 16,388 SF
      5272 Lewis Ave, Tulsa, OK 74105
      View Details
    • Value Estimation by Request
      46,005 SF

      2705 Skelly Dr

      Office Properties & Spaces • 46,005 SF
      2705 Skelly Dr, Tulsa, OK 74105
      View Details
    • Value Estimation
      $950,000
      23,488 SF

      2828 51st St

      OFFICE BUILDING • 23,488 SF
      2828 51st St, Tulsa, OK 74105-1741
      View Details
    • Value Estimation
      $500,000
      3,921 SF

      2421 Skelly Dr

      OFFICE BUILDING • 3,921 SF
      2421 Skelly Dr, Tulsa, OK 74105-6006
      View Details
    • Value Estimation
      $725,000
      5,382 SF

      2407 Skelly Dr

      OFFICE BUILDING • 5,382 SF
      2407 Skelly Dr, Tulsa, OK 74105-6006
      View Details
    • Value Estimation by Request
      63,502 SF

      3015 Skelly Dr

      OFFICE BUILDING • 63,502 SF
      3015 Skelly Dr, Tulsa, OK 74105-6317
      View Details

    Similar Nearby for Sale

    • $1,600,000
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      Skelly Drive Office Redevelopment

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      2705 Skelly Dr, Tulsa, OK 74105
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    • Contact for pricing
      3,195 SF

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    • $400,000
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      Office Space with Easy Access

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      2411 E Skelly Dr, Tulsa, OK 74105
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    • $294,900
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    Similar Nearby for Lease

    • $14 SF/Yr
      17,803 SF

      Lewis Park Office Space For Lease

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    • Contact for pricing
      542 SF

      Central Tulsa Office Space Available

      Office spaces for rent in central Tulsa location.
      3015 E Skelly Dr, Tulsa, OK 74105
      View Details
    • $14 SF/Yr
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      Professional Office and Medical Spaces

      Remodeled office and medical spaces with abundant parking in Tulsa.
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    • $17 SF/Yr
      18,620 SF

      Midtown Tulsa Medical Office Space

      Newly remodeled, I-44 visibility, ample parking.
      2865 Skelly Dr, Tulsa, OK 74105
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    • $1,200,000
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      Midtown Tulsa Redevelopment Opportunity

      Prime location with I-44 visibility and flexible zoning.
      2705-2745 E Skelly Dr, Tulsa, OK 74105
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    • $2,495,000
      6,002 SF

      Remodeled Office Space with Signage

      Remodeled full floor office space with I-44 signage opportunity.
      2816 E 51St St, Tulsa, OK 74105
      View Details
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    2705 Skelly Dr
    Tulsa, OK 74105
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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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