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12618-12620 E 31st St 5,852 SF 100% Leased Retail Building Tulsa, OK 74146 $1,499,721 CAD ($256.27 CAD/SF) 8% Cap Rate
Investment Highlights
- 3 Year NNN Sale Lease-back
- Instant Cash Flow
- Great Location / High Traffic Intersection
Executive Summary
Freestanding Retail/Mixed-Use Investment – Stabilized 8% Cap Rate with Seller Lease-Back
Property Type: Multi-tenant freestanding retail/mixed-use building (currently configured for two separate owner-operated companies) in excellent condition.
Building Size: 5,852 SF on a prominent site in southeast Tulsa's established commercial corridor (high-visibility location along E 31st Street, ZIP 74146).
Condition & Upgrades: Well-maintained with a new HVAC system for energy efficiency and tenant comfort; roof is older but in functional condition with no immediate issues reported.
Current Use/Occupancy: Fully owner-occupied and maintained to high standards, reflecting pride of ownership.
Lease Structure: Seller will execute a new 3-year NNN lease-back at $15.00 per square foot (annual base rent ˜ $87,780), with tenant responsible for all taxes, insurance, CAM, and maintenance – providing immediate, predictable, and low-management cash flow.
Pricing & Yield: Offered at $1,097,250, delivering an attractive 8.0% cap rate on the lease-back NOI – compelling in the current Tulsa market where stabilized multi-tenant retail assets often trade in the 6.5-7.5% range (with national single-tenant retail cap rates stabilizing around 6.8% in recent periods).
Investment Merits: Rare opportunity for instant stabilization via seller credit (no vacancy risk during initial term), strong cash-on-cash returns, and downside protection in a proven submarket with limited new retail supply and steady demand drivers.
Future Potential: Flexible mixed-use zoning allows for re-tenanting, owner-user occupancy, or adaptive reuse post-lease term in an area benefiting from Tulsa's positive retail fundamentals (low vacancy trends and resilient consumer activity).
This is a turnkey net lease investment ideal for 1031 exchange buyers, private investors, or net lease funds seeking high-yield, low-effort single-tenant retail exposure in a growing Oklahoma market.
Property Type: Multi-tenant freestanding retail/mixed-use building (currently configured for two separate owner-operated companies) in excellent condition.
Building Size: 5,852 SF on a prominent site in southeast Tulsa's established commercial corridor (high-visibility location along E 31st Street, ZIP 74146).
Condition & Upgrades: Well-maintained with a new HVAC system for energy efficiency and tenant comfort; roof is older but in functional condition with no immediate issues reported.
Current Use/Occupancy: Fully owner-occupied and maintained to high standards, reflecting pride of ownership.
Lease Structure: Seller will execute a new 3-year NNN lease-back at $15.00 per square foot (annual base rent ˜ $87,780), with tenant responsible for all taxes, insurance, CAM, and maintenance – providing immediate, predictable, and low-management cash flow.
Pricing & Yield: Offered at $1,097,250, delivering an attractive 8.0% cap rate on the lease-back NOI – compelling in the current Tulsa market where stabilized multi-tenant retail assets often trade in the 6.5-7.5% range (with national single-tenant retail cap rates stabilizing around 6.8% in recent periods).
Investment Merits: Rare opportunity for instant stabilization via seller credit (no vacancy risk during initial term), strong cash-on-cash returns, and downside protection in a proven submarket with limited new retail supply and steady demand drivers.
Future Potential: Flexible mixed-use zoning allows for re-tenanting, owner-user occupancy, or adaptive reuse post-lease term in an area benefiting from Tulsa's positive retail fundamentals (low vacancy trends and resilient consumer activity).
This is a turnkey net lease investment ideal for 1031 exchange buyers, private investors, or net lease funds seeking high-yield, low-effort single-tenant retail exposure in a growing Oklahoma market.
Property Facts
Sale Type
Investment NNN
Sale Condition
Sale Leaseback
Property Type
Retail
Property Subtype
Building Size
5,852 SF
Building Class
C
Year Built/Renovated
1985/2023
Price
$1,499,721 CAD
Price Per SF
$256.27 CAD
Cap Rate
8%
NOI
$119,978 CAD
Percent Leased
100%
Tenancy
Multiple
Building Height
1 Story
Loading Docks
3 Exterior
Building FAR
0.21
Lot Size
0.65 AC
Zoning
CS - Commercial
Parking
20 Spaces (3.42 Spaces per 1,000 SF Leased)
Amenities
- Pylon Sign
- Signage
Nearby Major Retailers
Property Taxes
| Parcel Number | 75550-94-20-09450 | Improvements Assessment | $57,817 CAD |
| Land Assessment | $14,979 CAD | Total Assessment | $72,796 CAD |
Property Taxes
Parcel Number
75550-94-20-09450
Land Assessment
$14,979 CAD
Improvements Assessment
$57,817 CAD
Total Assessment
$72,796 CAD
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12618-12620 E 31st St
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