12620 E 31st - Sale Leaseback | 8% Cap Rate

The subject property is situated at 12618-12620 East 31st Street, Tulsa, Oklahoma 74146, in the vibrant east Tulsa commercial submarket. Located along East 31st Street—a major east-west arterial with excellent visibility and traffic counts—the asset provides superior accessibility via proximate connections to Memorial Drive, Garnett Road, and Interstates 44 and 244. This retail/flex building is well-suited for a variety of uses, including service retail, light assembly, distribution, showroom/warehouse hybrids, or multi-tenant small business operations. The surrounding area comprises established residential neighborhoods, community services, and complementary commercial developments, supporting a stable tenant base and customer traffic. The property benefits from its positioning in a growth-oriented eastern Tulsa corridor with proximity to retail amenities, employment centers, and regional transportation infrastructure.EXECUTIVE SUMMARY 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). $1,097,250 PURCHASE PRICE 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.