12618-12620 E 31st St 5,852 SF Retail Building Tulsa, OK 74146 $1,097,250 ($187.50/SF) 8% Cap Rate

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.