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    6612 Memorial Dr Tulsa, OK 74133-2050
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    Property profile & analytics

    6612 Memorial Dr Tulsa, OK 74133-2050

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    • Individual retail properties
    • 78,373 SF
    • 6.10 lot acres
    Off-Market
    Property ID
    US69-0211182
    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.
    Value Estimations
    $2,260,000
    Show details
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Genesis Health Clubs - Woodland Hills / Gym & Fitness Center

    Property Details for 6612 Memorial Dr

    Year built
    1987
    Construction
    MASONRY/CONCRETE MASONRY UNITS (CMUS)
    Lot size
    6.10 lot acres
    Property size
    78,373 SF
    Zone code
    PK
    Property type
    Individual retail properties
    APN
    44957-83-02-32000
    APU
    44957830232000

    Description

    This exceptional 2,500 square foot retail space is ideally situated at 6620 S Memorial Dr, Tulsa, OK 74133, within a thriving strip center. The property offers high visibility and significant foot traffic, making it an excellent opportunity for a variety of businesses. Currently vacant, this single-tenant space is available for lease under a Triple Net (NNN) lease agreement. The lease rate is competitively priced at $19 per square foot. The location benefits from its prime position within a busy commercial area, ensuring consistent exposure to potential customers. This space is perfect for retail businesses seeking a high-traffic location, or for wellness or service-oriented businesses looking to establish a strong presence in a densely populated area. The flexible lease terms offer adaptability to suit various business needs. The property's features include excellent visibility and accessibility, making it an attractive option for businesses seeking a strong retail presence in Tulsa. This is a rare opportunity to secure a well-located, high-traffic retail space in a desirable area of Tulsa. Don't miss out on this chance to establish your business in a prime location.

    Value Estimations

    based on Realmo’s proprietary methodology

    • Alternative Use

      Use
      Estimation
      GYM, HEALTH SPA
      $2,830,000
      Current use
      RETAIL STORES
      $3,735,000
      Change: +32% Conversion: Difficult
      COMMERCIAL (GENERAL)
      $3,650,000
      Change: +29% Conversion: Difficult
      AUTO REPAIR, GARAGE
      $3,555,000
      Change: +26% Conversion: Difficult
      MEDICAL BUILDING
      $3,480,000
      Change: +23% Conversion: Difficult
      WAREHOUSE, STORAGE
      $3,000,000
      Change: +6% Conversion: Difficult

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

    Location Insight

    • Map
    • Local Demand
    City
    Tulsa
    County
    Tulsa
    State
    Oklahoma
    Longitude
    -95.8873
    Latitude
    36.0666
    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
    $135,468
    $402,612
    $606,457
    $1,009,069
    -
    $3,718,300
    $5,600,900
    $9,319,200

    Comparable in this City

    • Value Estimation
      $1,600,000
      4,050 SF

      10401 Memorial Dr

      LAUNDROMAT (SELF-SERVICE) • 4,050 SF
      10401 Memorial Dr, Tulsa, OK 74133-6913
      View Details
    • Value Estimation
      $3,710,000
      117,335 SF

      10642 Memorial Dr

      GYM, HEALTH SPA • 117,335 SF
      10642 Memorial Dr, Tulsa, OK 74133-7313
      View Details
    • Value Estimation by Request
      4,000 SF

      9929 Mingo Rd

      LAUNDROMAT (SELF-SERVICE) • 4,000 SF
      9929 Mingo Rd, Tulsa, OK 74133-5136
      View Details
    • Value Estimation by Request
      4,670 SF

      6920 70th E Ave

      BARBER, HAIR SALON • 4,670 SF
      6920 70th E Ave, Tulsa, OK 74133-7725
      View Details
    • Value Estimation
      $930,000
      10,000 SF

      10322 71st St

      RETAIL STORES (PERSONAL SERVICES) • 10,000 SF
      10322 71st St, Tulsa, OK 74133-3207
      View Details
    • Value Estimation by Request
      51,360 SF

      8238 71St St

      Individual retail properties • 51,360 SF
      8238 71St St, Tulsa, OK 74133
      View Details

    Similar Nearby for Sale

    • Contact for pricing
      841 SF

      Tulsa Retail Space For Sale

      Commercial space at 61st & Memorial with build-out options.
      8321 E 61St St, Tulsa, OK 74133
      View Details
    • Contact for pricing
      6,514 SF

      Tulsa Commercial Space For Sale

      Premier commercial space in Tulsa, build-out options available.
      8321 E 61St St, Tulsa, OK 74133
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    • $2,650,000

      Tulsa Retail Investment Opportunity

      2,700 SF Tulsa retail space built in 2020.
      11012 East 81St St, Tulsa, OK 74133
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    • Contact for pricing
      25,175 SF

      Prime Tulsa Shopping Center Space

      High-visibility retail or restaurant space near Woodland Hills Mall.
      7033 S Memorial Ave, Tulsa, OK 74133
      View Details
    • Contact for pricing
      9,713 SF

      Prime Commercial Space, Tulsa OK

      Premier location with build-to-suit options and ongoing improvements.
      8421 E 61St St, Tulsa, OK 74133
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    • Contact for pricing
      2,079 SF

      Prime Commercial Space For Sale

      Premier location with build-to-suit options and ongoing improvements.
      8421 E 61St St, Tulsa, OK 74133
      View Details

    Similar Nearby for Lease

    • $17 SF/Yr
      2,075 SF

      Retail Space on Memorial Drive

      Retail space available in a busy commercial corridor.
      10848 S Memorial Dr, Tulsa, OK 74133
      View Details
    • Contact for pricing
      2,303 SF

      Retail Space Near Holland Hall

      Retail space with marquee sign, near Holland Hall school.
      8013 S Sheridan Rd, Tulsa, OK 74133
      View Details
    • Contact for pricing
      3,670 SF

      Retail Space Near Costco

      Retail space available across from Costco with high traffic.
      10035 S Memorial Dr, Tulsa, OK 74133
      View Details
    • Contact for pricing
      7,559 SF

      Retail Space Near Woodland Hills

      Retail space with high visibility and excellent parking.
      8702 E 71St St, Tulsa, OK 74133
      View Details
    • $29 SF/Yr
      4,902 SF

      4,902 SF on 1.3 Acres Restaurant Building For Lease - 14020 N. May Avenue

      4,902 SF on 1.3 Acres Restaurant Building For Lease - 14020 N. May Avenue
      14020 N. May Avenue, Oklahoma City, OK 74133
      View Details
    • Contact for pricing
      1,160 SF

      Retail Space Near Woodland Hills

      Retail space near Woodland Hills Mall and residential neighborhoods.
      8040-8408 S Memorial Dr, Tulsa, OK 74133
      View Details
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    Tulsa, OK 74133-2050
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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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