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Wellington Square 3150 E 41st St

19,856 SF 78% Leased Office Building Tulsa, OK 74105 £2,172,527 (£109/SF) 6% Net Initial Yield

Investment Highlights

  • Priced Below Replacement Cost
  • Stable Dental Leases
  • Fully Sprinklered
  • Recently Renovated Common Area
  • High-income district
  • Front-door Parking

Executive Summary

Wellington Square is a recently renovated dental office building currently occupied by four dentists, one chiropractor and two general office users. The rental rates are consistent with market rates in mid-town Tulsa. The current building owner invested heavily in the building by repaving the parking lot, completely refinishing the restrooms including new tile and partitions, installing an ADA ramp at the main entrance of the building, repainting the interior and exterior of the building and recarpeting the common areas. A recent re-roofing and replacement of several roof-top heating and air units have put this building in top condition.
3150 E 41st St

Property Facts

Sale Type
Investment
Property Type
Office
Property Subtype
Medical
Building Size
19,856 SF
Building Class
B
Year Built
1974
Price
£2,172,527
Price Per SF
£109
Net Initial Yield
6%
NOI
£130,352
Percent Leased
78%
Tenancy
Multiple
Number of Floors
1
Typical Floor Size
19,856 SF
Building FAR
0.27
Land Acres
1.67 AC
Zoning
OL - Office Light
Parking
100 Spaces (5.37 Spaces per 1,000 SF Leased)

Amenities

  • Bus Route
  • Courtyard
  • Security System
  • Signage
  • Suspended Ceilings
  • Monument Signage
  • Air Conditioning

Space Availability

  • Space
  • Size
  • Space Use
  • Condition
  • Available
  • 1st Fl-Ste 105
  • 615 SF
  • Office
  • Full Build-Out
  • Now

Freshly remodeled four-room office suite. Opens onto central patio. Office suite located on the north side of the building near the main entrance. LVT through out. Ready to occupy. Minimum lease term of one-year.

  • 1st Fl-Ste 106
  • 550 SF
  • Office
  • -
  • Now
  • 1st Fl-Ste 111
  • 771 SF
  • Office/Medical
  • Spec Suite
  • Now

Space is currently being renovated to Class A finishes throughout. Space has two primary offices, a waiting/reception area and a conference room with coffee bar.

  • 1st Fl-Ste 115
  • 920 SF
  • Office/Medical
  • Spec Suite
  • Now

Space is currently being renovated. Fresh paint and LVT flooring throughout. Conference room with coffee bar en-suite. One office has a storage closet. Great for psychologist/therapist, accountant or other office professional. Close to building main entrance. Beautiful double french door entry into comfortable waiting area.

  • 1st Fl-Ste 121
  • 753 SF
  • Office/Medical
  • Spec Suite
  • Now

Fresh remodel with LVT flooring throughout. Coffee bar en-suite. Close to main building entrance. Nice waiting area.

  • 1st Fl-Ste 161
  • 773 SF
  • Office/Medical
  • Full Build-Out
  • Now

Freshly renovated suite with new wallcovering, floorcovering and ceilings. Coffee bar in waiting area. Three executive offices, waiting area and storage closet.

Space Size Space Use Condition Available
1st Fl-Ste 105 615 SF Office Full Build-Out Now
1st Fl-Ste 106 550 SF Office - Now
1st Fl-Ste 111 771 SF Office/Medical Spec Suite Now
1st Fl-Ste 115 920 SF Office/Medical Spec Suite Now
1st Fl-Ste 121 753 SF Office/Medical Spec Suite Now
1st Fl-Ste 161 773 SF Office/Medical Full Build-Out Now

1st Fl-Ste 105

Size
615 SF
Space Use
Office
Condition
Full Build-Out
Available
Now

1st Fl-Ste 106

Size
550 SF
Space Use
Office
Condition
-
Available
Now

1st Fl-Ste 111

Size
771 SF
Space Use
Office/Medical
Condition
Spec Suite
Available
Now

1st Fl-Ste 115

Size
920 SF
Space Use
Office/Medical
Condition
Spec Suite
Available
Now

1st Fl-Ste 121

Size
753 SF
Space Use
Office/Medical
Condition
Spec Suite
Available
Now

1st Fl-Ste 161

Size
773 SF
Space Use
Office/Medical
Condition
Full Build-Out
Available
Now

1st Fl-Ste 105

Size 615 SF
Space Use Office
Condition Full Build-Out
Available Now

Freshly remodeled four-room office suite. Opens onto central patio. Office suite located on the north side of the building near the main entrance. LVT through out. Ready to occupy. Minimum lease term of one-year.

1st Fl-Ste 111

Size 771 SF
Space Use Office/Medical
Condition Spec Suite
Available Now

Space is currently being renovated to Class A finishes throughout. Space has two primary offices, a waiting/reception area and a conference room with coffee bar.

1st Fl-Ste 115

Size 920 SF
Space Use Office/Medical
Condition Spec Suite
Available Now

Space is currently being renovated. Fresh paint and LVT flooring throughout. Conference room with coffee bar en-suite. One office has a storage closet. Great for psychologist/therapist, accountant or other office professional. Close to building main entrance. Beautiful double french door entry into comfortable waiting area.

1st Fl-Ste 121

Size 753 SF
Space Use Office/Medical
Condition Spec Suite
Available Now

Fresh remodel with LVT flooring throughout. Coffee bar en-suite. Close to main building entrance. Nice waiting area.

1st Fl-Ste 161

Size 773 SF
Space Use Office/Medical
Condition Full Build-Out
Available Now

Freshly renovated suite with new wallcovering, floorcovering and ceilings. Coffee bar in waiting area. Three executive offices, waiting area and storage closet.

PROPERTY TAXES

PROPERTY TAXES

Parcel Number
07875-93-29-01200
Land Assessment
£73,260
Improvements Assessment
£97,277
Total Assessment
£170,537
  • Listing ID: 3639500

  • Date on Market: 13/01/2006

  • Last Updated:

  • Address: 3150 E 41st St, Tulsa, OK 74105

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