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    Property profile & analytics

    2235 61st St Tulsa, OK 74136-1070

    • Outlet malls
    • 28,975 SF
    • 2.10 lot acres
    OFF-MARKET
    Value Estimations
    $635,000
    Show details
    Cap Rate Potential
    Location Intelligence
    Property ID
    US69-0349893
    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

    • ArchWell Health / Medical Center
    • Shawna K Passman, DO / Family Practice Physician
    • Lyndsey L Daggs, DO / Family Practice Physician
    • Dollar Tree / Store
    • Family Dollar / Discount Supermarket / School Supply Store

    Property Details for 2235 61st St

    Year built
    1969
    Construction
    MASONRY/CONCRETE MASONRY UNITS (CMUS)
    Lot size
    2.10 lot acres
    Property size
    28,975 SF
    Zone code
    CS
    Property type
    Outlet malls
    APN
    39875-93-31-13480
    APU
    39875933113480

    Description

    This exceptional investment opportunity presents a ±29,785 square foot, multi-tenant retail and medical center in Tulsa, Oklahoma. Located at 2235 E 61st St, this property boasts a prime location and features a diverse tenant mix including Dollar Tree, Family Dollar, Archwell Health, and a MidFirst Bank ATM. The center underwent a complete redevelopment in 2023, ensuring modern facilities tailored to tenant needs. The property sits on a 2.5-acre lot with ample parking (120 spaces). Currently operating at 100% occupancy, the investment features a strong Net Lease (NNN) structure with credit-rated tenants. Leases offer various options and have a weighted average remaining lease term of 7.6 years. The property generates a substantial Net Operating Income (NOI) of $371,973, resulting in an attractive 7.00% cap rate. The asking price is $5,314,000. Detailed lease information and rent bump schedules are available upon request. This fee-simple ownership includes an ATM ground lease. The property's strategic location and strong tenant base make it an ideal investment for discerning buyers seeking stable, long-term returns. This is a rare opportunity to acquire a high-quality, recently renovated retail center in a thriving market.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      ML approach
      $635,000

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

    Location Insight

    • Map
    • Local Demand
    City
    Tulsa
    County
    Tulsa
    State
    Oklahoma
    Longitude
    -95.9586
    Latitude
    36.0758
    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
    $22,151
    $120,835
    $44,165
    $165,000
    -
    $1,098,500
    $401,500
    $1,500,000

    Comparable in this City

    • Value Estimation
      $745,000
      51,066 SF

      7286 Lewis Ave

      WHOLESALE OUTLET, DISCOUNT STORE • 51,066 SF
      7286 Lewis Ave, Tulsa, OK 74136-5403
      View Details
    • Value Estimation
      $1,280,000
      7,606 SF

      6701 Peoria Ave

      WHOLESALE OUTLET, DISCOUNT STORE • 7,606 SF
      6701 Peoria Ave, Tulsa, OK 74136-3604
      View Details
    • Value Estimation
      $280,000
      6,440 SF

      6645 Peoria Ave

      SHOPPING CENTER, STRIP CENTER • 6,440 SF
      6645 Peoria Ave, Tulsa, OK 74136-3668
      View Details
    • Value Estimation
      $255,000
      4,000 SF

      6740 Lewis Ave

      SHOPPING CENTER, STRIP CENTER • 4,000 SF
      6740 Lewis Ave, Tulsa, OK 74136-4032
      View Details
    • Value Estimation
      $590,000
      23,820 SF

      8020 Yale Ave

      SHOPPING CENTER, STRIP CENTER • 23,820 SF
      8020 Yale Ave, Tulsa, OK 74136-9003
      View Details
    • Value Estimation
      $405,000
      15,469 SF

      8034 Yale Ave

      SHOPPING CENTER, STRIP CENTER • 15,469 SF
      8034 Yale Ave, Tulsa, OK 74136-9003
      View Details

    Similar Nearby for Sale

    • $2,960,000
      11,774 SF

      Fully Occupied South Tulsa Retail

      Retail strip center in the heart of South Tulsa.
      2202-2222 E 61St St, Tulsa, OK 74136
      View Details
    • $3,000,000
      16,338 SF

      Fully Occupied Tulsa Commercial Property

      Well-maintained commercial property on 71st Street in Tulsa, Oklahoma.
      5711 E 71St St, Tulsa, OK 74136
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    • $2,667,000
      1,600 SF

      Tulsa Starbucks Investment Opportunity

      Prime QSR location, 10-year lease, strong ROI.
      1340 71St St, Tulsa, OK 74136
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    • $625,000
      8,198 SF

      Retail Space on Peoria Avenue

      8,198 SF retail space on 0.87 acres for sale.
      6655 S Peoria Ave, Tulsa, OK 74136
      View Details
    • $4,995,000
      37,700 SF

      Office Building with Ample Parking

      Ground-level office building featuring excellent visibility and multiple entrances.
      7127 Riverside Pkwy, Tulsa, OK 74136
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    • $85,000
      0.59 Acres

      Commercial Lot Ready for Development

      Commercial lot with utilities in place, ready for development.
      1140 E 64Th St, Tulsa, OK 74136
      View Details

    Similar Nearby for Lease

    • $13 SF/Yr
      1,410 SF

      Retail Space with High Visibility

      Retail space available with excellent visibility and ample parking.
      1660 E 71St St, Tulsa, OK 74136
      View Details
    • Contact for pricing
      2,285 SF

      Retail Space Near St. Francis

      Retail space near hospital and office complex with high traffic.
      7101-7113 S Yale Ave, Tulsa, OK 74136
      View Details
    • Contact for pricing
      1,489 SF

      Retail Space on South Lewis

      Retail space with strong signage on South Lewis Avenue.
      6921-6975 S Lewis Ave, Tulsa, OK 74136
      View Details
    • Contact for pricing
      1,840 SF

      Retail Space Near St. Francis

      Retail property near hospital and office with high traffic.
      7101-7143 S Yale Ave, Tulsa, OK 74136
      View Details
    • $14 SF/Yr
      46,810 SF

      Tulsa Office Space for Lease

      Modern Office Suites, Flexible Sizes
      6450 Lewis Ave, Tulsa, OK 74136
      View Details
    • $16 SF/Yr
      2,500 SF

      South Tulsa Office/Medical Space

      Office or medical space in South Tulsa with dedicated parking.
      7040 S Yale Ave, Tulsa, OK 74136
      View Details
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    Tulsa, OK 74136-1070
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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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