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

    1217 48th St Tulsa, OK 74105-4701

    • Medical offices
    • 11,512 SF
    • 0.77 lot acres
    OFF-MARKET
    Last Sale
    Mar 04, 2024
    $1,765,000
    Value Estimations
    $1,975,000
    Show details
    Cap Rate Potential
    7%
    Medical offices
    Location Intelligence
    Property ID
    US69-0348342
    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

    • L MICHELLE ROBERTSON / Physician Assistant
    • Access Medical Center Urgent Care Tulsa / Doctor / Medical Clinic
    • Dr. Joe Sagely, D. O. / Doctor

    Property Details for 1217 48th St

    Year built
    1952
    Construction
    MASONRY/CONCRETE MASONRY UNITS (CMUS)
    Lot size
    0.77 lot acres
    Property size
    11,512 SF
    Zone code
    CH
    Property type
    Medical offices
    Property subtype
    Medical centers
    APN
    13375-92-25-02340
    APU
    13375922502340

    Description

    This exceptional single-story building, totaling 11,537 square feet, offers two available suites ideal for medical or creative office uses. Located on Peoria Avenue with excellent 48th Street cross-access, this hard-corner location boasts high visibility and convenient access to I-44 and Riverside Drive. The property features ample parking with 39 spaces, many conveniently located at the front entrance. Suite 101, a move-in ready space, encompasses 3,586 square feet. Suite 102 offers 2,401 square feet of shell space, providing flexibility for tenant build-out. The minimum divisible space is 2,401 square feet, with a maximum contiguous space of 5,987 square feet currently vacant. The building is zoned CH, reflecting its suitability for a variety of commercial uses. This property presents a unique opportunity for businesses seeking a prominent location with excellent accessibility and ample parking. The total building consists of two suites in a single building. The property is conveniently located near major transportation arteries, offering easy commutes for employees and clients. The available space is perfect for businesses needing a high-profile location with immediate access to a large parking area. Janitorial services are the responsibility of the tenant.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      Statistic approach
      $1,765,000
      ML approach
      $1,765,000

    • CAP approach

      CAP Return
      Estimation
      6%
      $2,055,000
      6.5%
      $1,895,000
      7%
      $1,760,000

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $2,767,000
      Market price range: $1.13M - $2.77M

    • Alternative Use

      Use
      Estimation
      MEDICAL BUILDING
      $1,975,000
      Current use
      RESTAURANT
      $2,740,000
      Change: +39% Conversion: Difficult

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

    Location Insight

    • Map
    • Local Demand
    City
    Tulsa
    County
    Tulsa
    State
    Oklahoma
    Longitude
    -95.9763
    Latitude
    36.095
    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
    $34,819
    $73,370
    $185,988
    $259,358
    -
    $667,000
    $1,690,800
    $2,357,800

    Comparable in this City

    • Value Estimation
      $2,580,000
      17,748 SF

      3223 31st St

      MEDICAL BUILDING • 17,748 SF
      3223 31st St, Tulsa, OK 74105-2452
      View Details
    • Value Estimation
      $300,000
      2,517 SF

      3232 31st St

      MEDICAL BUILDING • 2,517 SF
      3232 31st St, Tulsa, OK 74105-2442
      View Details
    • Value Estimation
      $235,000
      7,925 SF

      5780 Peoria Ave

      MEDICAL BUILDING • 7,925 SF
      5780 Peoria Ave, Tulsa, OK 74105-7857
      View Details
    • Value Estimation
      $420,000
      13,110 SF

      2845 Skelly Dr

      MEDICAL BUILDING • 13,110 SF
      2845 Skelly Dr, Tulsa, OK 74105-6221
      View Details
    • Value Estimation
      $365,000
      8,509 SF

      3902 Peoria Ave

      MEDICAL BUILDING • 8,509 SF
      3902 Peoria Ave, Tulsa, OK 74105
      View Details
    • Value Estimation
      $250,000
      5,248 SF

      5512 Lewis Ave

      MEDICAL BUILDING • 5,248 SF
      5512 Lewis Ave, Tulsa, OK 74105-7140
      View Details

    Similar Nearby for Sale

    • $1,600,000
      46,005 SF

      Skelly Drive Office Redevelopment

      Prime Tulsa Office, I-44 Visibility
      2705 Skelly Dr, Tulsa, OK 74105
      View Details
    • New
      Contact for pricing
      3,195 SF

      Move-in Ready Tulsa Office Suite

      Office suite with open layout, kitchen, and private offices.
      3401 S Peoria Ave, Tulsa, OK 74105
      View Details
    • New
      Contact for pricing
      3,195 SF

      Tulsa Office Suite For Sale

      Well-appointed office suite with open floor plan in Tulsa, OK
      3401 S Peoria Ave, Tulsa, OK 74105
      View Details
    • $2,600,000
      23,974 SF

      Prime Location Office Building

      27-office building in a prime location with recent remodeling.
      5513-5537 S Lewis Ave, Tulsa, OK 74105
      View Details
    • $400,000
      2,700 SF

      Office Space with Easy Access

      Office space featuring ample parking and mature trees.
      2411 E Skelly Dr, Tulsa, OK 74105
      View Details
    • Contact for pricing
      4,172 SF

      Unique Retail Space in Tulsa

      Retail property in a desirable, densely populated Tulsa location.
      3841 S Peoria Ave, Tulsa, OK 74105
      View Details

    Similar Nearby for Lease

    • $17 SF/Yr
      18,620 SF

      Midtown Tulsa Medical Office Space

      Newly remodeled, I-44 visibility, ample parking.
      2865 Skelly Dr, Tulsa, OK 74105
      View Details
    • $14 SF/Yr
      670 SF

      Professional Office and Medical Spaces

      Remodeled office and medical spaces with abundant parking in Tulsa.
      2840 E 51St St, Tulsa, OK 74105
      View Details
    • $16 SF/Yr
      23,488 SF

      Tulsa Office Space Available

      Office space available for rent in Tulsa, Oklahoma.
      2828 E 51St St, Tulsa, OK 74105
      View Details
    • 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
    • $19 SF/Yr
      773 SF

      Modern Office Space For Rent

      New office space with private offices and reception area.
      3150 E 41St St, Tulsa, OK 74105
      View Details
    • $42 SF/Yr
      3,300 SF

      Retail and Office Suites Available

      Multiple suites available for lease, suitable for retail or office.
      3737 S Peoria Ave, Tulsa, OK 74105
      View Details
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    1217 48th St
    Tulsa, OK 74105-4701
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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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