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Property profile & analytics
OFF-MARKET
Estimated value
$2,165,000
Hotels
121 Elgin Ave Tulsa, OK 74120-1816
Entity Owned
6-yr Hold
Absentee Owner
~
Est. High Equity
Property ID
US69-2222640
Property profile
Verified
Property type
Hotels
Use group
HOTEL
Year built
2018
Construction
STEEL FRAME
Total area
69,474 SF
Lot
0.5 ac (21,649 SF)
Zoning code
CBD
APN
00500-92-01-33550
UPID
US69-2222640
Cap rate & NOI
Priority signal for investors
Implied cap rate, NOI & suggested price
Cap rate vs submarket · NOI estimate · 3 price anchors
Implied cap rate, NOI & suggested price
Cap vs submarket · NOI estimate · 3 price anchors
Current use
Occupant on record · Public records
-
Prospect Local Bar and Kitchen Restaurant
-
Roof Sixty-Six Rooftop Bar Bar & Pub
-
Hotel Indigo Tulsa Dwtn-Entertainment Area, an IHG Hotel Hotel & Motel
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
$2.68M
Comparable Approach
Comparable
by Request
Blend (final)
Blend
$2.17M
Owner & transaction history
Fall Creek LLC · 6 yrs held
Fall Creek LLC
since 2019
3 recorded transactions
Zoning & alternative use
CBD · Tulsa, OK
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Cap rate
Implied · in-place · derived from last sale + estimated NOI
Implied Cap rate
#1
Implied · in-place · NOI ÷ last sale
In-place · derived from last sale + estimated NOI
Cap rate, NOI & submarket benchmark
Implied cap rate vs Tulsa submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Tulsa submarket · NOI estimate · typical band, median & reading
Refine your cap rate
8-question underwriting flow
1.
Property current status — Going-In vs Stabilized
2.
Price for denominator — asking / offer / market
3.
Leasing status & lease structure (NNN / Gross)
4.
Tenant risk profile & vacancy assumption
5.
Upload T12 / rent roll / OM (optional)
Refine in 60 seconds, get exact suggested price
T12 upload · Submarket benchmarks · Sensitivity grid
Suggested price · 3 cap rate anchors
Income approach @ 5% / 7% / 9% — aggressive / typical / conservative
Suggested price at 5% / 7% / 9% cap
Aggressive / typical / conservative · Implied $/SF per anchor · Sensitivity grid
Suggested price at 5% / 7% / 9% cap
Aggressive / typical / conservative · implied $/SF · sensitivity
Value
AI, CAP & Alternative Use estimations · Realmo proprietary blendValue Estimations
Based on Realmo’s proprietary methodology
AI Approach
Method
Estimation
Statistic approach
by Request
ML approach
by Request
CAP Approach
CAP Return
Estimation
6%
$2,905,000
6.5%
$2,680,000
7%
$2,490,000
Blend value · Realmo final
$2.17M
Range $1.95M – $2.38M · ±10%
Realmo estimate · informational only.
These numbers are calculated by our models from public records and may not reflect actual market value.
Not an appraisal.
Verify with a licensed appraiser before transacting. Realmo accepts no liability for divergence from real-world outcomes.
View the full estimation — every method, every assumption
Confidence drivers & risk notes · Custom comparable set · Free for first 3 / day
Full estimation methodology
Every method · every assumption · confidence drivers
Price per SF
Sale + rent benchmarks
Subject property
$31 / SF
Submarket sale & rent benchmarks
Median sale $/SF · Asking & closed rent · Submarket vacancy
Submarket sale & rent benchmarks
Median sale $/SF · asking & closed rent · submarket vacancy
Property tax & assessments
Tax year 2023Property tax & assessments
Tax year 2023
Tax billed
$111,642
Tax year 2023
Assessed value
$831,600
Assessed 2023
Previous assessed
$792,000
+5.0% YoY
Effective rate
13.42%
On assessed value
Assessed land
$59,569
Assessed improvement
$772,031
Land market value
$1,041,200
Improvement market value
$13,494,300
Total market value
$14,535,500
Comparables
6 recent transactions · within 1.5 miComparable in this city
6 recent transactions
Comparable in this City
Similar Nearby for Sale
Similar Nearby for Lease
Recent comparable sales
Sale price & price/SF · Sale date & distance · Adjustments & confidence
Recent comparable sales
Sale price & $/SF · sale date & distance · adjustments
Property description
Physical attributes from public recordsBuilding & lot
Public records
Property type
Hotels
Use group
HOTEL
Status
Off-Market
Year built
2018
Construction
STEEL FRAME
Heating
HEAT PUMP
Cooling
YES
Stories
6
Rooms
93
Total area
69,474 SF
Lot
0.5 ac (21,649 SF)
Zoning code
CBD
APN
00500-92-01-33550
UPID
US69-2222640
Jurisdiction
TULSA
Zoning & alternative use
CBD · Tulsa, OK
Zoning CBD · permitted uses
CBD · Tulsa, OK
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Tulsa. Always verify with local authorities before improvements.
Building & site characteristics
From public records
Year built
2018
Construction
STEEL FRAME
Heating
HEAT PUMP
Cooling
Yes
Stories
6
Rooms
93
Lot
0.5 ac
Current owner
From public records · entity-resolved
Fall Creek LLC
Entity
Mailing address
2251 STONE WOOD CIR, BROKEN ARROW, OK 74012-1032
Mailing matches property
Different — outreach signal
Owner-occupied
No
Ownership since
2019
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
3 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Aug 20, 2019
—
Fall Creek LLC
—
Loan Modification
related
$3,450,000 · Valley Nat'l Bk
Dec 7, 2018
—
Blue Dome Hotel Center LLC
—
Deed
related
$300,000 · Miscellaneous Govt Agcy
—
—
Blue Dome Hotel Center LLC
—
Deed Of Trust
related
$300,000 · Miscellaneous Govt Agcy
Coming soon
Costs & Benchmarks
Operating expenses, capex projections, utility benchmarks, and submarket comparables — all in one view.
Coming soon
Risks
Flood, climate, environmental, title, and tenant-concentration risk — surfaced with mitigations and source citations.
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“Is 15.6% cap rate sustainable?” · “Best tenant mix for BU1?” · “What’s the redev upside?”
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