For Sale
$2,350,000

2133 Sheridan Rd Tulsa, OK 74115

Tulsa Flex Space: High NOI, 90% Occupancy

Overview

Added:
Dec 11, 2024
Days on market:
132
This exceptional Tulsa, OK, flex space boasts 29,560 square feet on a 1.3-acre lot, featuring 13 units with 90% occupancy (11 tenants) and a strong NOI of $146,800 (pro-forma $164,500). Built in 2002 and renovated in 2020, this Class B property offers 21-foot ceilings and 32 parking spaces. The asking price is $2,350,000 ($79.50/sq ft), representing a 6.25% cap rate (pro-forma 7%). Located at 2133 N Sheridan Rd, Tulsa, OK 74115, near the airport, this fee-simple property is zoned IL and features a net lease with 3% annual rent bumps. The property's strong financials, prime location, and value-add potential make it an attractive investment opportunity, particularly suitable for a 1031 exchange. The current occupancy date is February 14, 2024. Land value is $12/sq ft. Each unit is priced at $180,769.23.

Highlights

  • Prime Tulsa location.
  • Below-market rents offer strong value-add potential.
  • Desirable unit size and mix for diverse tenant base.
  • Convenient proximity to Tulsa International Airport.
  • Property boasts excellent condition and maintenance.

Property Details for 2133 Sheridan Rd

Property type
Industrial properties, Flex space
Square Feet
29,560 SF
Class
B
Year Built/Renovated
2002/2020
Buildings
1
Stories
1
Lot Size (sq. ft)
56,628 SF
Units
13

Location Insight

City
Tulsa
County
Tulsa
State
Oklahoma
Latitude
36.186046972832
Longitude
-95.904574124554

FAQs

What type of property is this?
Industrial property - Tulsa Flex Space: High NOI, 90% Occupancy
Where is the industrial property located?
The property is located at 2133 Sheridan Rd Tulsa, OK.
What is the asking price?
The asking price for this property is $2,350,000.
What are key features of this property?
This property features: Prime Tulsa location.; Below-market rents offer strong value-add potential.; Desirable unit size and mix for diverse tenant base.
How can I contact the broker?
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2133 Sheridan Rd
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