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The Sun Building 907 S Detroit Ave 249,346 SF 94% Leased Office Building Tulsa, OK 74120 $12,000,000 ($48.13/SF) 10.02% Cap Rate
Investment Highlights
- Solid downtown visibility and access
- Established tenant base providing predictable cash flow
- $58 per SF - significantly below current replacement cost
Executive Summary
The Sun Building is a 14-story, 249,346 SF office tower located in the core of Downtown Tulsa. The property offers an attractive combination of stable in-place income and upside potential through additional lease-up and light repositioning. Generating approximately $1.2 million in annual NOI, the asset is being considered for sale at $12
million, representing a double digit cap rate and an exceptional $50 per square foot basis, well below replacement cost. The building features efficient floorplates, strong natural light, and established tenants providing consistent cash flow.
Positioned within Tulsa’s central business district, the property benefits from excellent visibility, accessibility, and proximity to major downtown employers, retail, and entertainment. This opportunity offers investors a compelling in- place yield with potential for further value creation in one of the Midwest’s most accessible and improving urban office markets.
million, representing a double digit cap rate and an exceptional $50 per square foot basis, well below replacement cost. The building features efficient floorplates, strong natural light, and established tenants providing consistent cash flow.
Positioned within Tulsa’s central business district, the property benefits from excellent visibility, accessibility, and proximity to major downtown employers, retail, and entertainment. This opportunity offers investors a compelling in- place yield with potential for further value creation in one of the Midwest’s most accessible and improving urban office markets.
Data Room Click Here to Access
- Offering Memorandum
Property Facts
Sale Type
Investment
Property Type
Office
Building Size
249,346 SF
Building Class
B
Year Built/Renovated
1954/2009
Price
$12,000,000
Price Per SF
$48.13
Cap Rate
10.02%
NOI
$1,202,612
Percent Leased
94%
Tenancy
Multiple
Building Height
14 Stories
Typical Floor Size
17,810 SF
Building FAR
5.99
Lot Size
0.96 AC
Opportunity Zone
Yes
Zoning
CBD - Central Business District
Parking
76 Spaces (0.3 Spaces per 1,000 SF Leased)
Amenities
- Banking
- Conferencing Facility
- Food Service
- Property Manager on Site
Space Availability
- Space
- Size
- Space Use
- Build-Out
- Available
- 1st Floor
- 838 SF
- Office
- -
- Now
- 4th Floor
- 2,000-12,506 SF
- Office
- -
- Now
- 13th Floor
- 900 SF
- Office
- -
- Now
| Space | Size | Space Use | Build-Out | Available |
| 1st Floor | 838 SF | Office | - | Now |
| 4th Floor | 2,000-12,506 SF | Office | - | Now |
| 13th Floor | 900 SF | Office | - | Now |
1st Floor
| Size |
| 838 SF |
| Space Use |
| Office |
| Build-Out |
| - |
| Available |
| Now |
4th Floor
| Size |
| 2,000-12,506 SF |
| Space Use |
| Office |
| Build-Out |
| - |
| Available |
| Now |
13th Floor
| Size |
| 900 SF |
| Space Use |
| Office |
| Build-Out |
| - |
| Available |
| Now |
Moderately walkable
70/100
Very drivable
80/100
Limited public transit
30/100
Moderately bikeable
60/100
Property Taxes
| Parcel Numbers | Improvements Assessment | $493,201 | |
| Land Assessment | $64,535 | Total Assessment | $557,736 |
Property Taxes
Parcel Numbers
Land Assessment
$64,535
Improvements Assessment
$493,201
Total Assessment
$557,736
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