12620 E 31st St | Sale Lease-Back
Mixed Use | 8.00% CAP | 5,852 SqFt | Lease-Back
Marketing description
Freestanding Retail/Mixed-Use Investment – Stabilized ~7.8% 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 starting at $12.00 per square foot (Year 1 base rent = $70,224), with 3% annual increases. Tenant responsible for all taxes, insurance, CAM, and maintenance – providing immediate, predictable, and low-management cash flow.
Pricing & Yield: Offered at $900,000, delivering a stabilized ~7.8% cap rate on the lease-back NOI. This is attractive 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 lease-back (no vacancy risk during the initial 3-year 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 after the 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.
Investment highlights
✅ Stabilized 7.8% Cap Rate with Strong Cash Flow Offered at $900,000, this freestanding retail/mixed-use property delivers an immediate 7.8% cap rate based on the seller’s 3-year NNN lease-back. Year 1 base rent is $70,224 ($12.00/SF), with built-in 3% annual increases, creating predictable, escalating income with zero vacancy risk during the initial term. The buyer enjoys strong cash-on-cash returns and low-management ownership from day one.
✅ Turnkey NNN Lease-Back with Full Tenant Responsibility The seller will execute a new 3-year NNN lease-back starting at $12.00 per square foot, with the tenant (current owner) responsible for all taxes, insurance, CAM, and maintenance. This structure provides hands-off, triple-net income to the investor while the property remains in excellent condition with a new HVAC system. Ideal for investors seeking low-effort, high-yield retail exposure.
✅ Prime Southeast Tulsa Location with Flexible Future Upside Situated on a high-visibility corner along E 31st Street in a proven commercial corridor (ZIP 74146), this 5,852 SF multi-tenant configured building benefits from strong local retail demand and limited new supply. Flexible mixed-use zoning supports multiple exit strategies after the lease term — including re-tenanting, owner-user conversion, or adaptive reuse — in one of Tulsa’s most stable retail submarkets.
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