624 S Boston Ave - Office/Residential FOR SALE


Tulsa, OK 74119- City Center Tulsa
$6,000,000 USD
214-500-4295
624 S Boston Ave, Tulsa, OK for Sale
$6,000,000 USD
Office/Residential - FOR SALE
1/29
null | Request Cap Rate

624 S Boston Ave
Tulsa, OK 74119
City Center Tulsa


HIGHLIGHTS

  • Fee Simple unencumbered by management or brand
  • Marriott Tribute, Hilton Tapestry, HQ Luxury Hotels Conversion options (~136 Keys)
  • Strong Central Business District STR Performance: 67.2% OCC, $210.14 ADR, $141.29 RevPAR
  • Reinforced Concrete & Steel Structure provide a strong foundation for redevelopment. The building is sprinklered throughout
  • The property is zones Central Business District and approved for hotel use with waived parking requirements
  • Eligible for both State and Federal Historic tax credits up to 40% C-PACE financing also available, City approved TID benefits

OVERVIEW

Marcus & Millichap has been chosen to exclusively market for sale, the Landmark Art-Deco Oklahoma Natural Gas Co. Headquarters Building in downtown Tulsa, OK. This 11-story, 72,280-square-foot property, built in 1928 and listed on the National Register of Historic Places, offers a rare opportunity for adaptive reuse while also in an opportunity zone. Plans include converting the building into a 136-room boutique hotel or a multi-family development, both supported by feasibility studies. The Seller is open to contributing the property to a joint venture and offering seller financing to reduce upfront costs. The property is zoned for hotel use and qualifies for State and Federal historical tax credits, Tax Increment Financing, and C-PACE financing. Prominent brands Hilton and Marriott have expressed interest in affiliating with the project under their Tapestry Collection or Tribute Portfolio flags, enhancing its market potential. Located in the heart of downtown Tulsa, the property benefits from proximity to major employers, government offices, and attractions like the Arvest Convention Center (275,000 square feet of meeting space) and the BOK Center (19,199 seats and 50+ annual events). The strategic location ensures strong demand for both hospitality and residential uses. With downtown Tulsa undergoing significant redevelopment through collaborative efforts by city agencies, the Chamber of Commerce, and Tulsa Regional Tourism, this project aligns with broader revitalization goals. Developers have a unique opportunity to be part of Tulsa’s urban transformation while preserving a historic landmark and contributing to the city’s evolving landscape. To view offering summary and due diligence please visit https://oklahomanaturalgascobuilding.sharplaunch.com/ or contact Michael Knall directly at (214) 500-4295 for more information.

FOR SALE DETAILS

PRICE

$6,000,000 USD

PRICE/SF

$83 USD /SF

CAP RATE

Request Cap Rate

% LEASED

-

TENANCY

Multiple

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

Former Oklahoma Natural Gas Co. Headquarters

PROPERTY TYPE

Office

PROPERTY SUBTYPE

Office/Residential

TOTAL BUILDING SIZE

-

STORIES

11

BUILDING CLASS

B

YEAR BUILT

1928

SPRINKLERS

-

PARKING SPACES

63

LAND DETAILS

LAND ACRES

0.16 AC

LAND SF

6,970 SF

ZONING

CBD

APN/PARCEL ID

00500-92-01-40990

ASK ABOUT THIS PROPERTY

Michael KnallMarcus & MillichapMore Info
214-500-4295

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Michael KnallMarcus & MillichapMore Info
214-500-4295

By clicking the button, you agree to Showcase's Terms of Use and Privacy Policy.