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    The Largest CRE Database in the US with Over 1 Million Listings
    Property profile & analytics

    3915 51st St Tulsa, OK 74135-3605

    • Medical offices
    • 5,106 SF
    • 1.35 lot acres
    OFF-MARKET
    Last Sale
    Jul 13, 2021
    $1,350,000
    Value Estimations
    $1,055,000
    Show details
    Cap Rate Potential
    5.4%
    Medical offices
    Location Intelligence
    Property ID
    US69-0519680
    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

    • Tulsa Center for Dermatology / Dermatologist
    • Dr. Miranda E. Smith, MD / Dermatologist
    • Tracy Beswick / Dermatologist / Practitioner Service Location
    • Tracy Clyne Beswick / Dermatologist
    • Lone Star Steakhouse & Saloon / Steak House

    Property Details for 3915 51st St

    Year built
    1994
    Construction
    WOOD FRAME
    Lot size
    1.35 lot acres
    Property size
    5,106 SF
    Zone code
    CO
    Property type
    Medical offices
    Property subtype
    Medical centers
    APN
    11360-93-28-02050
    APU
    11360932802050

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      Statistic approach
      $1,055,000
      ML approach
      $995,000

    • CAP approach

      CAP Return
      Estimation
      6%
      $960,000
      6.5%
      $885,000
      7%
      $820,000

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $1,227,000
      Market price range: $500k - $1.23M

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

    Location Insight

    • Map
    • Local Demand
    City
    Tulsa
    County
    Tulsa
    State
    Oklahoma
    Longitude
    -95.9327
    Latitude
    36.0904
    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
    $26,729
    $97,020
    $102,080
    $199,100
    -
    $882,000
    $928,000
    $1,810,000

    Comparable in this City

    • Value Estimation
      $650,000
      44,620 SF

      4720 Harvard Ave

      MEDICAL BUILDING • 44,620 SF
      4720 Harvard Ave, Tulsa, OK 74135-3048
      View Details
    • Value Estimation
      $235,000
      4,314 SF

      3319 46th St

      MEDICAL BUILDING • 4,314 SF
      3319 46th St, Tulsa, OK 74135-2923
      View Details
    • Value Estimation
      $305,000
      6,430 SF

      5510 41st St Ste A

      MEDICAL BUILDING • 6,430 SF
      5510 41st St Ste A, Tulsa, OK 74135-6037
      View Details
    • Value Estimation
      $70,000
      4,940 SF

      5505 51st St

      MEDICAL BUILDING • 4,940 SF
      5505 51st St, Tulsa, OK 74135-7468
      View Details
    • Value Estimation
      $255,000
      8,638 SF

      4720 51st St

      MEDICAL BUILDING • 8,638 SF
      4720 51st St, Tulsa, OK 74135-3704
      View Details
    • Value Estimation
      $300,000
      3,684 SF

      3811 51st St

      MEDICAL BUILDING • 3,684 SF
      3811 51st St, Tulsa, OK 74135-3603
      View Details

    Similar Nearby for Sale

    • $975,000
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      High-Traffic Retail/Medical Property For Sale

      12,450 SF retail/medical property on 0.91 acres.
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    • Contact for pricing
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      Midtown Tulsa office building with individual suites available for rent.
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    • $2,600,000
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      Class A Midtown Medical Building

      Contemporary medical building in central Tulsa's Harvard Medical corridor.
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      View Details
    • New
      $525,000
      5,184 SF

      Tulsa Medical/Multi-Use Building For Sale

      Medical office or multi-use building with easy highway access.
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    • $1,800,000
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      Tulsa Office Building For Sale

      18,219 SF office building available in Tulsa, Oklahoma.
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    • $620,000
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      Remodeled Office Building Near I-44

      Tulsa office building with 6,000+ sq ft, convenient location.
      4641 S Braden Ave, Tulsa, OK 74135
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    Similar Nearby for Lease

    • $11 SF/Yr
      23,792 SF

      5350 46Th St

      Office space • 23,792 SF
      5350 46Th St, Tulsa, OK 74135
      View Details
    • $13 SF/Yr
      3,161 SF

      Medical Space for Rent

      Medical office space available with multiple exam rooms.
      4157 S Harvard Ave, Tulsa, OK 74135
      View Details
    • $12 SF/Yr
      1,930 SF

      Office Suite with Flexible Layout

      Adaptable office space featuring private offices and open work areas.
      3225 S Norwood Ave, Tulsa, OK 74135
      View Details
    • $14 SF/Yr
      100,134 SF

      Harvard Tower Office Building

      Midtown Tulsa Office Space Available
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      View Details
    • $16 SF/Yr
      54,744 SF

      Midtown Tulsa Office Space Available

      Prime Tulsa location, flexible office suites.
      3939 Harvard Ave, Tulsa, OK 74135
      View Details
    • $15 SF/Yr
      14,520 SF

      Jamestown Retail Center Opportunity

      Updated Retail Space, Tulsa County
      3100 Jamestown Ave, Tulsa, OK 74135
      View Details
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    Tulsa, OK 74135-3605
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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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