South Tulsa Business Park
Industrial | 7.00% CAP | 56,440 SqFt
Marketing description
McGraw Commercial Properties presents a rare investment opportunity to acquire South Tolsa Business Park — a 56,440 SF multi-tenant flex/industrial campus in the Midtown Tulsa Submarket. The property is offered at $3,495,000 ($61.56/SF) with current NOI of $243,956.24 at 76% occupancy, representing significant value-add upside through lease-up of 13,533 SF of available space at below-market rents.
The campus spans five buildings (Buildings 100-500 plus a self-storage component) on 3.23 acres, with suite sizes ranging from 100 to 1,570 SF. Concrete tilt construction is offered well below replacement cost. Over 85% of tenants are on short-term or month-to-month leases at rates significantly below market, positioning the next investor to capture meaningful rent growth without renovation risk.
The park serves 40+ active tenants across five buildings comprising flex, light industrial, office, and self-storage suites ranging from 100-1,570 SF. Notable occupants include Moss Seat Cover Mfg, CJ Wire & Cable, and Henaco Enterprises — providing a diversified, granular rent roll with low single-tenant concentration risk.
South Tulsa Business Park is strategically positioned on South Peoria Avenue at 61st Street — an up-and-coming commercial corridor. The campus benefits from exceptional connectivity to major transportation arteries.
Investment highlights
- Tulsa industrial market flex vacancy at 5.7% — overall industrial vacancy just above 3%, well below national averages
- Less than 8 million SF of flex in the market with zero new flex projects under construction
- Desirable light industrial features: overhead doors, commercial entrances, and high ceiling clearances
- Significant upside: 85%+ of tenants on short-term or M-T-M leases at significantly below-market rates
- Additional self-storage spaces leased at below-market rates on M-T-M agreements provide near-term mark-to-market opportunity
- Proforma NOI of $310,480.15 represents a 22% increase over current NOI upon 90% stabilization.
- High-quality concrete tilt construction offered at just $61.56 per square foot — well below replacement cost
- Gated and secured campus with a keyless entry system throughout
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