Log In/Sign Up
Your email has been sent.
Tulsa CBD Landmark Tower Conversion 624 S Boston Ave 72,253 SF Vacant Office Building Online Auction Sale Tulsa, OK 74119
Matterport 3D Tours
Investment Highlights
- Historic downtown landmark ready for a value-add office strategy, with flexibility for a potential boutique hotel conversion.
- Extensive renovations include HVAC controls, plumbing upgrades, parking lot improvements, and a roof replaced in 2016.
- Downtown location near Tulsa’s major highways, employers, entertainment venues, convention centers, and cultural attractions.
- Five floors have already been upgraded into creative office space with open layouts and 12-foot ceilings.
- Hotel conversion supported by recent building upgrades and strong metro tourism, with over 10 million visitors and $1.4B in visitor spending annually.
- CBD office fundamentals include declining vacancy of 10.5%, steady rent growth, no new construction, and strong sales activity.
Executive Summary
624 S Boston Avenue presents a compelling opportunity to revitalize a historic downtown Tulsa landmark through a value-add office strategy, with flexibility for a potential boutique hotel conversion. Located within Tulsa’s celebrated Art Deco District, the building will be delivered vacant, creating an immediate path to execution for investors seeking to lease, reposition, or reimagine one of the city’s most recognizable historic assets.
Originally constructed in 1928 on 0.16 acres, the 72,253-square-foot, 11-story building has undergone extensive renovations that enhance functionality while preserving its historic appeal. Improvements include automated HVAC controls, plumbing upgrades, a refinished parking lot, and a modified bitumen roof replaced in 2016. Five floors have already been converted to flexible creative office space featuring open layouts and 12-foot ceilings, providing a strong foundation for a value-add leasing strategy. Additional infrastructure includes two passenger elevators, a freight elevator, and 77 surface parking spaces, supporting efficient operations today while also providing flexibility for future redevelopment plans.
624 S Boston Avenue presents a compelling platform for boutique hotel conversion, leveraging its historic Art Deco architecture, vacant delivery, and adaptable floor plates to introduce a differentiated hospitality offering within one of Tulsa’s most recognizable downtown districts. With more than 10 million annual visitors, approximately $1.4 billion in tourism-related economic impact, and just 16 existing hotel properties serving the CBD, investors have the potential to capitalize on growing visitor demand while activating a landmark property with a distinct identity and sense of place.
The property benefits from exceptional accessibility, with convenient connections to US-75, Highway 64, and Tulsa International Airport. Its downtown location places future tenants and guests near major employers, entertainment venues, convention destinations, and cultural attractions throughout the urban core. Strong surrounding demographics include a growing population, substantial daytime employment, and a well-educated workforce supported in part by nearby OSU-Tulsa. Office market fundamentals remain encouraging, with a 10.5% vacancy rate below the five-year average, steady rent growth, no new inventory currently under construction, and more than $53.9 million in office sales volume during the past 12 months. Together, these factors support multiple avenues for value creation within one of downtown Tulsa’s most recognizable historic properties.
Property tours are by appointment only. Please contact the listing broker to schedule.
Originally constructed in 1928 on 0.16 acres, the 72,253-square-foot, 11-story building has undergone extensive renovations that enhance functionality while preserving its historic appeal. Improvements include automated HVAC controls, plumbing upgrades, a refinished parking lot, and a modified bitumen roof replaced in 2016. Five floors have already been converted to flexible creative office space featuring open layouts and 12-foot ceilings, providing a strong foundation for a value-add leasing strategy. Additional infrastructure includes two passenger elevators, a freight elevator, and 77 surface parking spaces, supporting efficient operations today while also providing flexibility for future redevelopment plans.
624 S Boston Avenue presents a compelling platform for boutique hotel conversion, leveraging its historic Art Deco architecture, vacant delivery, and adaptable floor plates to introduce a differentiated hospitality offering within one of Tulsa’s most recognizable downtown districts. With more than 10 million annual visitors, approximately $1.4 billion in tourism-related economic impact, and just 16 existing hotel properties serving the CBD, investors have the potential to capitalize on growing visitor demand while activating a landmark property with a distinct identity and sense of place.
The property benefits from exceptional accessibility, with convenient connections to US-75, Highway 64, and Tulsa International Airport. Its downtown location places future tenants and guests near major employers, entertainment venues, convention destinations, and cultural attractions throughout the urban core. Strong surrounding demographics include a growing population, substantial daytime employment, and a well-educated workforce supported in part by nearby OSU-Tulsa. Office market fundamentals remain encouraging, with a 10.5% vacancy rate below the five-year average, steady rent growth, no new inventory currently under construction, and more than $53.9 million in office sales volume during the past 12 months. Together, these factors support multiple avenues for value creation within one of downtown Tulsa’s most recognizable historic properties.
Property tours are by appointment only. Please contact the listing broker to schedule.
Matterport 3D Tours
1 of 4
Videos
Matterport 3D Exterior
Matterport 3D Tours
Photos
Street View
Street
Map
Data Room Click Here to Access
- Operating and Financials
- Purchase Agreement
- Title and Insurance
- Miscellaneous
Market Analytics Click Here to Access
Property Facts
Sale Type
Investment
Sale Condition
Auction Sale
Type of Ownership
Fee Simple
Property Type
Office
Building Size
72,253 SF
Building Class
B
Year Built
1928
Percent Leased
Vacant
Tenancy
Multiple
Building Height
11 Stories
Typical Floor Size
6,580 SF
Slab To Slab
12’
Building FAR
10.37
Lot Size
0.16 AC
Opportunity Zone
Yes
Parcel Number
00500-92-01-40990
Zoning
CBD - CENTRAL BUSINESS DISTRICT
Parking
63 Spaces (0.87 Spaces per 1,000 SF Leased)
Amenities
- Bus Line
- Signage
- Storage Space
- Partitioned Offices
- Drop Ceiling
- Air Conditioning
Moderately walkable
70/100
Exceptionally drivable
90/100
Limited public transit
30/100
Moderately bikeable
70/100
Demographics
Demographics
1 mile
3 mile
5 mile
2025 Population
11,561
77,730
170,805
2020 Population
10,033
70,774
158,170
2030 Population
12,192
81,141
177,820
2025-2030 Projected Population Growth
5.5%
4.4%
4.1%
Daytime Employees
34,614
76,665
114,508
Total Businesses
3,643
8,854
14,423
Average Household Income
$81,810
$83,686
$78,576
Median Household Income
$57,882
$56,646
$54,998
Total Consumer Spending
$134.4M
$880.8M
$1.9B
Median Age
40.0
37.6
37.8
2025 Households
5,761
33,571
73,712
Percent College Degree or Above
22%
19%
17%
Average Home Value
$328,647
$332,280
$275,753
Sale Advisors
Sale Advisors
Paul Casella, Senior Director
Paul Casella is a Senior Director with Marcus & Millichap based in Dallas, Texas.
Derek Schuster, Senior Director | Auction Services
Derek’s commercial real estate experience spans over a decade across various transaction types with a focus on retail investment sales. Before joining Marcus & Millichap, he held positions at several regional real estate firms, where he successfully managed auction transactions as well as traditional marketing for single-tenant and multi-tenant retail properties. Prior to Derek’s work in commercial real estate, he served as a golf professional for multiple country clubs on the East Coast after graduating from Penn State’s Professional Golf Management program. His experience working closely with club members instilled in him a strong commitment to exceptional customer service. Derek applies this dedication to his real estate advisory services, offering clients valuable market insights and expert guidance to help them navigate property disposition through online auctions across all asset classes.
About the Auction Technology
Auctions by Ten-X are the #1 transaction technology powering commercial real estate transactions online. With over $34B in total transactions, these auctions use best-in-class technology and real-time asset intelligence to put listings in the best position to find the perfect buyer. The expedited auction timeline, comprehensive due diligence, and buyer qualification make transactions twice as fast and twice as certain for brokers, owners, and investors.
Read More
Auction Contact
Molly Patten
Contact
Auctioneer License:
Ten-X Arlene Richardson RE Brkr 149227
1 of 32
Videos
Matterport 3D Exterior
Matterport 3D Tours
Photos
Street View
Street
Map
3% Transaction Fee
Based on Winning Bid Amount
Minimum Transaction Fee
$20,000
Maximum Transaction Fee
$300,000
Example Calculation
Winning Bid Amount
$5,000,000
Transaction Fee
$150,000 (3%)
Total Purchase Price
$5,150,000
Presented by
Tulsa CBD Landmark Tower Conversion | 624 S Boston Ave
Already a member? Log In
Hmm, there seems to have been an error sending your message. Please try again.
Thanks! Your message was sent.