Add Listing
Property Lookup
    Property Lookup
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    Back to Search
    The Largest CRE Database in the US with Over 1 Million Listings
    Property profile & analytics

    3031 Erie Ave Tulsa, OK 74115-2805

    • Office buildings
    • 17,173 SF
    • 17.88 lot acres
    OFF-MARKET
    Value Estimations
    $1,880,000
    Show details
    Cap Rate Potential
    Location Intelligence
    Property ID
    US69-0459202
    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

    • City of Tulsa Animal Welfare / Animal Shelter / Pet Adoption Service

    Property Details for 3031 Erie Ave

    Year built
    1970
    Construction
    MASONRY/CONCRETE MASONRY UNITS (CMUS)
    Lot size
    17.88 lot acres
    Property size
    17,173 SF
    Zone code
    AG
    Property type
    Office buildings
    APN
    90322-03-22-18000
    APU
    90322032218000

    Value Estimations

    based on Realmo’s proprietary methodology

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $2,033,000
      Market price range: $1.27M - $3.04M
      AI Estimate
      $1,725,000
      Market price range: $549k - $2.66M

    • Alternative Use

      Use
      Estimation
      OFFICE BUILDING
      $2,035,000
      Current use
      MEDICAL BUILDING
      $2,950,000
      Change: +45% Conversion: Easy
      AUTO REPAIR, GARAGE
      $2,355,000
      Change: +16% Conversion: Difficult
      COMMERCIAL (GENERAL)
      $2,335,000
      Change: +15% Conversion: Easy
      RETAIL STORES
      $1,870,000
      Change: -8% Conversion: Moderate

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

    Location Insight

    • Map
    • Local Demand
    City
    Tulsa
    County
    Tulsa
    State
    Oklahoma
    Longitude
    -95.9146
    Latitude
    36.1971
    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
    $0.00
    $0.00
    $0.00
    $0.00
    -
    $197,700
    $1,166,044
    $1,363,744

    Comparable in this City

    • Value Estimation by Request
      1,128 SF

      3503 Admiral Pl

      OFFICE BUILDING • 1,128 SF
      3503 Admiral Pl, Tulsa, OK 74115-8211
      View Details
    • Value Estimation by Request
      1,800 SF

      1240 Harvard Ave

      OFFICE BUILDING • 1,800 SF
      1240 Harvard Ave, Tulsa, OK 74115-6103
      View Details
    • Value Estimation
      $2,055,000
      12,321 SF

      4300 36th N St

      OFFICE BUILDING • 12,321 SF
      4300 36th N St, Tulsa, OK 74115-1715
      View Details
    • Value Estimation by Request
      1,040 SF

      6143 Admiral Pl

      OFFICE BUILDING • 1,040 SF
      6143 Admiral Pl, Tulsa, OK 74115-8623
      View Details
    • Value Estimation by Request
      1,500 SF

      4116 Admiral Pl

      OFFICE BUILDING • 1,500 SF
      4116 Admiral Pl, Tulsa, OK 74115-7444
      View Details
    • Value Estimation
      $730,000
      4,200 SF

      3104 Erie Ave

      OFFICE BUILDING • 4,200 SF
      3104 Erie Ave, Tulsa, OK 74115-1900
      View Details

    Similar Nearby for Sale

    • $800,000
      10,317 SF

      Historic Corner Commercial Building

      1928 corner building ideal for retail, office, or mixed-use.
      15 N Harvard Ave, Tulsa, OK 74115
      View Details
    • $250,000
      2,400 SF

      Versatile Commercial Property in Tulsa

      Commercial property with retail, office, residential, and storage potential.
      5219 E Latimer St, Tulsa, OK 74115
      View Details
    • $1,785,000
      35,680 SF

      35,680 SF Warehouse Buildings

      Two warehouse buildings totaling 35,680 SF on 2.43 acres.
      6924 East Reading Pl, Tulsa, OK 74115
      View Details
    • Contact for pricing

      Tulsa Industrial Property for Sale

      Industrial property available for purchase in Tulsa, Oklahoma.
      1402 S 69Th East Ave, Tulsa, OK 74115
      View Details
    • $80,000

      Corner Commercial Lot For Sale

      0.16-acre corner commercial lot with easy access to major roads.
      1401 N Yale Ave, Tulsa, OK 74115
      View Details
    • Contact for pricing

      Industrial Land For Sale

      0.95 acre industrial land with frontage on N Harvard Ave.
      N Harvard Ave E, Tulsa, OK 74115
      View Details

    Similar Nearby for Lease

    • Contact for pricing

      Versatile Commercial Property in Tulsa

      11,515 SF flexible space for retail, warehouse, or mixed-use.
      4941 E Admiral Pl, Tulsa, OK 74115
      View Details
    • Contact for pricing
      207 SF

      Office Space with Signage, Parking

      Full-service office space featuring optimal signage and parking.
      3939 S Harvard Ave, Tulsa, OK 74115
      View Details
    • $15 SF/Yr
      3,750 SF

      Medical Clinic Space Available

      Medical clinic space featuring multiple exam rooms and large lobby.
      3336 E 32Nd Pl, Tulsa, OK 74115
      View Details
    • $10 SF/Yr
      39,876 SF

      Admiral Shopping Center: Value-Add Opportunity

      Tulsa Retail Center - Sale or Lease
      6921 E. Admiral Place, Tulsa, OK 74115
      View Details
    • Contact for pricing

      Prime Land Near Tulsa Airport

      58 acres of land near Tulsa International Airport terminal.
      7699 East Virgin St, Tulsa, OK 74115
      View Details
    • $17 SF/Yr
      1,125 SF

      Turnkey Retail Space Available

      Retail space for rent with high daily traffic count.
      3701-3703 S Harvard Ave, Tulsa, OK 74115
      View Details
    Request Owner's contact information
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    3031 Erie Ave
    Tulsa, OK 74115-2805
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    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
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!