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

    11917 Norwood Ave Tulsa, OK 74137-5509

    • Office buildings
    • 9,555 SF
    • 0.36 lot acres
    OFF-MARKET
    Last Sale
    Dec 03, 2024
    $1,750,000
    Value Estimations
    $1,775,000
    Show details
    Cap Rate Potential
    Location Intelligence
    Property ID
    US69-0643814
    The Realmo ID is a unique identifier assigned to every property, incorporating country codes and precise geo-coordinates for 300x300-foot land blocks. It enables standardized data collection and seamless integration of disparate sources such as ownership, tax, title data and physical specifications. By aggregating current and historical records, the Realmo ID powers advanced analytics and delivers deep, verifiable insights for real estate professionals.

    Current Use by Public Records

    • Evo Smart Security / Security Service / General Contractor
    • Vineyard Medical Care / Pediatrician / Physician
    • Elite Wellness and Aesthetics / Spa & Massage Center / Alternative Medicine Practice
    • Edward Jones - Financial Advisor: Brett Vandervort / Financial Advisor
    • Salt Medical Aesthetics / Spa & Massage Center / Alternative Medicine Practice

    Property Details for 11917 Norwood Ave

    Lot size
    0.36 lot acres
    Property size
    9,555 SF
    Zone code
    CS
    Property type
    Office buildings
    APN
    87063-83-34-13670
    APU
    87063833413670

    Value Estimations

    based on Realmo’s proprietary methodology

    • CAP approach

      CAP Return
      Estimation
      6%
      $2,205,000
      6.5%
      $2,035,000
      7%
      $1,890,000

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $1,569,000
      Market price range: $1.33M - $1.87M

    • Alternative Use

      Use
      Estimation
      OFFICE BUILDING
      $1,680,000
      Current use
      RESTAURANT
      $2,275,000
      Change: +35% Conversion: Moderate
      MEDICAL BUILDING
      $1,640,000
      Change: -2% Conversion: Easy

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

    Location Insight

    • Map
    • Local Demand
    City
    Tulsa
    County
    Tulsa
    State
    Oklahoma
    Longitude
    -95.9058
    Latitude
    35.9892
    CBSA code
    46140
    CBSA name
    TULSA, OK METROPOLITAN STATISTICAL AREA

    Property Tax & Assessments

    Tax date
    Tax Amount
    Assessed Land Value
    Assessed Improvement Value
    Total Assessed Value
    Applied Tax Rate
    Land Market Value
    Improvement Market Value
    Total Market Value
    2023
    $24,408
    $24,197
    $151,273
    $175,470
    -
    $231,900
    $1,449,800
    $1,681,700

    Comparable in this City

    • Value Estimation
      $1,035,000
      8,700 SF

      9014 Yale Ave Ste, Unit 102

      OFFICE BUILDING • 8,700 SF
      9014 Yale Ave Ste, Tulsa, OK 74137-3509
      View Details
    • Value Estimation by Request
      1,804 SF

      9101 Harvard Ave

      OFFICE BUILDING • 1,804 SF
      9101 Harvard Ave, Tulsa, OK 74137-3947
      View Details
    • Value Estimation
      $1,485,000
      10,946 SF

      6312 101st St

      OFFICE BUILDING • 10,946 SF
      6312 101st St, Tulsa, OK 74137-7007
      View Details
    • Value Estimation by Request
      1,587 SF

      5022 101st St

      OFFICE BUILDING • 1,587 SF
      5022 101st St, Tulsa, OK 74137-5803
      View Details
    • Value Estimation by Request
      2,600 SF

      6309 102nd St

      OFFICE BUILDING • 2,600 SF
      6309 102nd St, Tulsa, OK 74137-7041
      View Details
    • Value Estimation by Request
      2,617 SF

      9309 Toledo Ave

      OFFICE BUILDING • 2,617 SF
      9309 Toledo Ave, Tulsa, OK 74137-2752
      View Details

    Similar Nearby for Sale

    • $2,690,910
      9,340 SF

      Fully Occupied Office Building

      9340 SF office building near Creek Expressway, Tulsa, OK.
      4809 E 89Th St, Tulsa, OK 74137
      View Details
    • Contact for pricing
      5,566 SF

      Tulsa Office Space: 5,566 sq ft

      Prime Tulsa office, all-inclusive lease.
      4605 91St St, Tulsa, OK 74137
      View Details
    • $2,750,000
      20.92 Acres

      Prime Tulsa Land: 20 Acres

      Exceptional 20-acre commercial/residential tract.
      10800 Delaware Ave, Tulsa, OK 74137
      View Details
    • $112,500
      0.19 Acres

      Residential Lot in Gated Neighborhood

      Residential lot for sale in a private, gated Tulsa neighborhood.
      12026 S Braden Ave S, Tulsa, OK 74137
      View Details
    • Contact for pricing
      1,920 SF

      Tulsa Retail Space For Lease

      Move-in Ready Medical Office Suite
      6305 120Th Ct, Tulsa, OK 74137
      View Details
    • $112,500
      0.21 Acres

      Residential Lot in Gated Neighborhood

      Residential lot available in a private, gated Tulsa neighborhood.
      12032 S Braden Ave S, Tulsa, OK 74137
      View Details

    Similar Nearby for Lease

    • $26 SF/Yr
      175,090 SF

      South Tulsa Office Campus

      Class A Office Space Available
      8801 Yale Ave, Tulsa, OK 74137
      View Details
    • $21 SF/Yr
      1,200 SF

      Versatile Retail/Office/Restaurant Space Available

      Adaptable space suitable for retail, restaurant, or office tenants.
      10133-10145 S Riverside Pkwy, Tulsa, OK 74137
      View Details
    • $20 SF/Yr
      2,400 SF

      Office Space Near 101st Sheridan

      Ground floor office space available for rent near 101st.
      6321 E 102Nd St, Tulsa, OK 74137
      View Details
    • Contact for pricing
      1,396 SF

      Second Floor Office Space Available

      Office space for rent, sublease ending November 30, 2024.
      10051 S Yale Ave, Tulsa, OK 74137
      View Details
    • Contact for pricing
      1,925 SF

      Turnkey Medical Office Space

      Medical office space for lease in South Tulsa.
      6139 E 91St St, Tulsa, OK 74137
      View Details
    • Contact for pricing
      10,034 SF

      Prime Tulsa Medical Office Space

      10,034 SF, Class A, Ample Parking
      4715 91St St, Tulsa, OK 74137
      View Details
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    11917 Norwood Ave
    Tulsa, OK 74137-5509
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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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