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    Property profile & analytics

    2116 15th St Tulsa, OK 74104-4614

    • Office buildings
    • 6,317 SF
    • 0.66 lot acres
    OFF-MARKET
    Value Estimations
    $930,000
    Show details
    Cap Rate Potential
    Location Intelligence
    Property ID
    US69-0715717
    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

    • Hanger Clinic: Prosthetics & Orthotics / Medical Clinic / Orthotics & Prosthetics Service
    • Kory Sams, CPED / Physician
    • Scott Stromberg, CPO / Physician

    Property Details for 2116 15th St

    Year built
    1968
    Construction
    STEEL FRAME
    Lot size
    0.66 lot acres
    Property size
    6,317 SF
    Zone code
    OL
    Property type
    Office buildings
    APN
    26450-93-07-07910
    APU
    26450930707910

    Value Estimations

    based on Realmo’s proprietary methodology

    • CAP approach

      CAP Return
      Estimation
      6%
      $1,295,000
      6.5%
      $1,195,000
      7%
      $1,110,000

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $896,000
      Market price range: $540k - $1.23M
      AI Estimate
      $699,000
      Market price range: $439k - $979k

    • Alternative Use

      Use
      Estimation
      OFFICE BUILDING
      $910,000
      Current use
      RESTAURANT
      $1,505,000
      Change: +66% Conversion: Moderate
      MEDICAL BUILDING
      $1,085,000
      Change: +19% Conversion: Easy
      AUTO REPAIR, GARAGE
      $865,000
      Change: -5% Conversion: Difficult
      COMMERCIAL (GENERAL)
      $860,000
      Change: -6% Conversion: Easy

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

    Location Insight

    • Map
    • Local Demand
    City
    Tulsa
    County
    Tulsa
    State
    Oklahoma
    Longitude
    -95.9613
    Latitude
    36.1401
    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
    $11,415
    $62,975
    $22,055
    $85,030
    -
    $572,500
    $200,500
    $773,000

    Comparable in this City

    • Value Estimation by Request
      2,043 SF

      1427 Ter Dr

      OFFICE BUILDING • 2,043 SF
      1427 Ter Dr, Tulsa, OK 74104-4625
      View Details
    • Value Estimation
      $1,200,000
      13,138 SF

      20 Lewis Ave

      OFFICE BUILDING • 13,138 SF
      20 Lewis Ave, Tulsa, OK 74104-1615
      View Details
    • Value Estimation by Request
      1,004 SF

      819 Lewis Ave

      OFFICE BUILDING • 1,004 SF
      819 Lewis Ave, Tulsa, OK 74104-3717
      View Details
    • Value Estimation by Request
      2,300 SF

      543 Victor Ave

      OFFICE BUILDING • 2,300 SF
      543 Victor Ave, Tulsa, OK 74104-2614
      View Details
    • Value Estimation
      $770,000
      4,353 SF

      601 Lewis Ave

      OFFICE BUILDING • 4,353 SF
      601 Lewis Ave, Tulsa, OK 74104-3327
      View Details
    • Value Estimation
      $5,635,000
      44,010 SF

      315 Utica Ave

      OFFICE BUILDING • 44,010 SF
      315 Utica Ave, Tulsa, OK 74104-2203
      View Details

    Similar Nearby for Sale

    • Contact for pricing
      2,500 SF

      Versatile Commercial Space Near Utica

      Commercial space near Utica Square with solid concrete building.
      2626 E 15Th St, Tulsa, OK 74104
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      4,688 SF

      Turnkey Dental Practice For Sale

      Fully operational dental practice with high-end finishes and equipment.
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      2,571 SF

      Cherry Street Office Space For Sale

      Prime Tulsa location, two buildings, high-demand area.
      1809 15Th St, Tulsa, OK 74104
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    • $449,000
      Pending

      Midtown Tulsa Duplex Opportunity

      Charming duplex in Midtown Tulsa, ideal for homeowners or investors.
      2704 E 16Th St, Tulsa, OK 74104
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    • $1,750,000
      24,730 SF

      Retail Space Near Pearl District

      Retail space for sale near the Pearl District and I-244.
      401 S Utica Ave, Tulsa, OK 74104
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    • $75,000
      0.16 Acres

      Land in Great Tulsa Location

      Located minutes from downtown, hospital, and expressway access.
      105 S Wheeling Ave, Tulsa, OK 74104
      View Details

    Similar Nearby for Lease

    • Contact for pricing
      2,000 SF

      Two-Story Office Space with Storage

      2,000 SF office with basement storage and reserved parking.
      5303 S Lewis Ave, Tulsa, OK 74104
      View Details
    • Contact for pricing
      10,902 SF

      Office Space in Tulsa

      5,265 SF office space available for lease.
      1500 S Utica Ave, Tulsa, OK 74104
      View Details
    • Contact for pricing

      Prime Corner Land for Lease

      Land for lease in high-traffic retail and medical corridor.
      1626-1630 S Utica Ave, Tulsa, OK 74104
      View Details
    • $21 SF/Yr
      1,408 SF

      New Construction Retail Space

      New construction retail space available for lease.
      3222 E 15Th St, Tulsa, OK 74104
      View Details
    • $7 SF/Yr
      8,400 SF

      Tulsa Retail Center: Sale/Lease

      8,400 SF retail space, prime Tulsa location.
      401 S. Utica Avenue, Tulsa, OK 74104
      View Details
    • Contact for pricing

      Commercial Land for Ground Lease

      Commercial land available for ground lease with optimal zoning.
      3008 E 11Th St, Tulsa, OK 74104
      View Details
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    Tulsa, OK 74104-4614
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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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