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    Property profile & analytics

    2431 E 61St St Tulsa, OK 74136

    • Office buildings
    • 156,953 SF
    • 7.10 lot acres
    For Lease
    View listing
    Value Estimations
    Cap Rate Potential
    Location Intelligence
    Property ID
    US69-0277515
    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

    • Coffman & Co / Accounting Firm / Tax Preparation
    • Sergio & Sons Plumbing / Plumbing Service / General Contractor
    • Benveo / Insurance Agency
    • Tomlins Law Pllc / Law Firm
    • Pezold Barker & Woltz / Law Firm

    Property Details for 2431 E 61St St

    Year built
    1981
    Construction
    CONCRETE
    Lot size
    7.10 lot acres
    Property size
    156,953 SF
    Zone code
    OM
    Property type
    Office buildings
    APN
    39665-93-32-37400
    APU
    39665933237400

    Value Estimations

    based on Realmo’s proprietary methodology

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $18,711,000
      Market price range: $12.5M - $23.6M
      AI Estimate
      $14,632,000
      Market price range: $3.83M - $20.0M

    • Alternative Use

      Use
      Estimation
      OFFICE BUILDING
      $16,935,000
      Current use
      MEDICAL BUILDING
      $26,945,000
      Change: +59% Conversion: Easy
      AUTO REPAIR, GARAGE
      $21,515,000
      Change: +27% Conversion: Difficult
      COMMERCIAL (GENERAL)
      $21,325,000
      Change: +26% Conversion: Easy
      RETAIL STORES
      $17,070,000
      Change: +1% Conversion: Moderate

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

    Location Insight

    • Map
    • Local Demand
    City
    Tulsa
    County
    Tulsa
    State
    Oklahoma
    Longitude
    -95.9563
    Latitude
    36.0762
    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
    $249,571
    $225,720
    $1,633,280
    $1,859,000
    -
    $2,052,000
    $14,848,000
    $16,900,000

    Comparable in this City

    • Value Estimation
      $1,405,000
      27,980 SF

      6202 Lewis Ave

      OFFICE BUILDING • 27,980 SF
      6202 Lewis Ave, Tulsa, OK 74136-1099
      View Details
    • Value Estimation
      $620,000
      5,493 SF

      1343 71st St Sta, Unit A

      OFFICE BUILDING • 5,493 SF
      1343 71st St Sta, Tulsa, OK 74136-5035
      View Details
    • Value Estimation
      $2,380,000
      49,758 SF

      5001 68th St

      OFFICE BUILDING • 49,758 SF
      5001 68th St, Tulsa, OK 74136-3315
      View Details
    • Value Estimation by Request
      922 SF

      1887 71st St

      OFFICE BUILDING • 922 SF
      1887 71st St, Tulsa, OK 74136-3922
      View Details
    • Value Estimation by Request
      1,719 SF

      7147 Braden Ave

      OFFICE BUILDING • 1,719 SF
      7147 Braden Ave, Tulsa, OK 74136-6302
      View Details
    • Value Estimation by Request
      4,041 SF

      6950 Utica Ave

      OFFICE BUILDING • 4,041 SF
      6950 Utica Ave, Tulsa, OK 74136-3903
      View Details

    Similar Nearby for Sale

    • $2,975,000
      49,532 SF

      49,532 SF Office Building For Sale

      49,532 SF Office Building For Sale
      6914 S Yorktown Ave, Tulsa, OK 74136
      View Details
    • $3,200,000
      40,000 SF

      Two-Building Office Property on Yale

      Two 2-story office buildings with excellent visibility and parking.
      6711-6717 S Yale Ave, Tulsa, OK 74136
      View Details
    • $4,995,000
      37,700 SF

      Tulsa Office Building For Sale

      37,700 SF office building on 4.29 acres in Tulsa.
      7127 Riverside Pkwy, Tulsa, OK 74136
      View Details
    • $930,000
      7,776 SF

      Prime Tulsa Office Building

      7,776 sq ft, Move-In Ready
      1375 71St St, Tulsa, OK 74136
      View Details
    • $399,000
      1 SF

      Commercial Land on South Peoria

      1.39 acre commercial land with utilities and parking.
      6622 South Peoria Ave, Tulsa, OK 74136
      View Details
    • $75,000
      Pending

      Commercial Land in Tulsa, OK

      Commercial land with utilities in Tulsa, Oklahoma, for sale.
      1140 E 64Th St, Tulsa, OK 74136
      View Details

    Similar Nearby for Lease

    • Contact for pricing

      Well-Maintained Office Park For Rent

      Two-story office building with ample parking, built in 1984.
      6506 S Lewis Ave, Tulsa, OK 74136
      View Details
    • Contact for pricing

      South Tulsa Office Building For Lease

      Nine-story office building with flexible floorplans and abundant parking.
      7134 S Yale Ave, Tulsa, OK 74136
      View Details
    • Contact for pricing
      10,946 SF

      Office Tower with Business Center

      Ten-story office tower with business center and updated HVAC.
      7130-7140 S Lewis Ave, Tulsa, OK 74136
      View Details
    • Contact for pricing

      Executive Tower

      Discover many ways to work your way in Executive Tower
      7136 Yale Ave, Tulsa, OK 74136
      View Details
    • Contact for pricing
      1,329 SF

      Tulsa Office Park Space Available

      Office spaces for lease with convenient highway access.
      1418 E 71St St, Tulsa, OK 74136
      View Details
    • Contact for pricing
      1,539 SF

      Office Space with Multiple Offices

      Office space featuring multiple offices, reception, kitchen, and conference room.
      2502 E 71St St, Tulsa, OK 74136
      View Details
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    Tulsa, OK 74136
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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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