2516 15th St, Tulsa, OK 74104-4621
- Medical Office Space
- 9,778 SF
- 0.44 lot acres
Current Use by Public Records
- CareFirst Getman Pharmacy / Medical Supply Store / Drug Store
- SGOK3, INC. / Department Store
Property Details for 2516 15th St
- Year built
- 1936
- Construction
- MASONRY/CONCRETE MASONRY UNITS (CMUS)
- Lot size
- 0.44 lot acres
- Zone code
- CH
- Property type
- Medical Office Space
- Property subtype
- Medical centers
- APN
- 14350-93-08-10280
- APU
- 14350930810280
Sales History
| Date | Price | Buyer | Seller | Deed Type | Mortgage |
|---|---|---|---|---|---|
| Mar 10, 2026 | $2,070,000 | Green Country Federal Credit Union | Midtown And Down LLC | Warranty Deed | — |
| Mar 10, 2026 | — | Green Country Federal Credit Union | Midtown & Down LLC | Deed · related | — |
| Nov 12, 2024 | $2,200,000 | Midtown & Down LLC | Mckee Building LLC | Warranty Deed | $1.8M · Bank Of Locust Grove |
| Jan 9, 2020 | — | Mckee Building LLC | Slk2516 LLC | Grant Deed | — |
| Jan 9, 2020 | $1,860,000 | Mckee Building LLC | Admiral Square INC | Grant Deed | $1.7M · Central Bk/ok |
| Jul 23, 2019 | — | 485 Fall Creek LLC | — | Deed · related | $555k · Great Sthrn Bk |
| Jul 28, 2016 | — | 485 Fall Creek LLC | — | Deed · related | $1.7M · Central Bk |
| Sep 3, 2015 | — | 485 Fall Creek LLC | 485 Fall Creek LLC | Quit Claim Deed · related | $1.2M · Central Bk |
| Jun 16, 2015 | $507,000 | 485 Fall Creek LLC | Mckee Clara E Trust | Grant Deed | — |
| — | — | 485 Fall Creek LLC | — | Loan Modification · related | $555k · Great Sthrn Bk |
| — | — | 485 Fall Creek LLC | — | Loan Modification · related | $1.7M · Central Bk |
| — | — | 485 Fall Creek LLC | — | Loan Modification · related | $1.4M · Central Bk |
Description
This Tulsa, OK mixed-use property offers a compelling investment opportunity. The 9,775 square foot building, constructed in 1936 and renovated in 2017, sits on a 19,180 square foot lot at 2516 E 15th St, 74104. Currently, 59% occupied, it generates a strong $9,035 monthly net income (NNN) from two tenants. A ground-floor pharmacy tenant, with a lease expiring September 30, 2028, pays $6,368.18 per month (increasing to $6,463.70 in 2026), and owes approximately $295,229 in remaining rent. A medical office tenant contributes $2,666.67 monthly, with 3% annual increases. The 4,000 square foot vacant upper floor offers flexible leasing options for individual offices, half-floor, or full-floor setups, ideal for various tenants. The ground floor pharmacy lease buyout option provides immediate capital for renovations or owner-use. The building's prominent location on 15th Street, near Hwy 51, presents additional income potential through mural or advertising leases. This property combines stable income with significant upside potential through lease-up of the vacant space and the potential pharmacy lease buyout. The building features include one building, 7,775 net rentable square feet, and flexible office layouts in the upper floor. The property offers a unique blend of immediate cash flow and future growth opportunities.
Value Estimations
-
AI approach
- Method
- Estimation
- Statistic approach
- $1,640,000
- ML approach
- $1,745,000
-
CAP approach
- CAP Return
- Estimation
- 6%
- $1,835,000
- 6.5%
- $1,695,000
- 7%
- $1,575,000
-
Comparable approach
- Method
- Estimation
- Statistic Estimate
- $1,921,000
Market price range: $957k - $2.35M -
Alternative Use
- Use
- Estimation
- MEDICAL BUILDING
- $1,680,000 Current use
- RESTAURANT
- $2,330,000 Change: +39% Conversion: Difficult
- OFFICE BUILDING
- $1,405,000 Change: -16% Conversion: Easy
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Location Insight
- Map
- Local Demand
- City
- Tulsa
- County
- Tulsa
- State
- Oklahoma
- Longitude
- -95.9552
- Latitude
- 36.1402
- CBSA code
- 46140
- CBSA name
- TULSA, OK METROPOLITAN STATISTICAL AREA
