Investment Overview

Marcus & Millichap is the exclusive listing agent for the “dark” Advance Auto Parts property located at 6512 E Admiral Place in Tulsa, Oklahoma. The tenant operates under a NNN lease (landlord only responsible for foundation/structure) that expires on December 31st, 2026. The tenant has notified the landlord that they will not be renewing their options to extend and therefore this is an opportunity for an investor or owner-user to purchase a property with a value-add component starting January 1st, 2027. The 6,860 square foot building was constructed in 2006 on a 0.74 acre parcel of land. The property is positioned with frontage along the heavily trafficked East Admiral Place thoroughfare which was part of the original, historic alignment of Route 66. Additionally, the property is situated only one block off of the Interstate-244 on/off ramp which at that point sees approximately 64,000 vehicles per day. Located in the heart of the Midwest, Tulsa is a dynamic and evolving market supported by a diverse economic base and strong underlying fundamentals. Historically rooted in the energy sector, Tulsa has successfully expanded into aerospace, advanced manufacturing, healthcare, and professional services—creating a more resilient and balanced local economy. The region benefits from a low cost of living and affordable housing, which continues to attract new residents, remote workers, and businesses seeking cost efficiencies without sacrificing quality of life. This steady population growth supports consistent demand across both residential and commercial real estate sectors. Tulsa’s retail market remains particularly strong, characterized by low vacancy rates and limited new supply. Tulsa continues to experience steady, demand-driven retail growth supported by population gains and ongoing mixed-use development. Recent activity includes the introduction of nationally recognized retailers, highlighted by the planned arrival of IKEA at Tulsa Hills, which is expected to further anchor the corridor and drive increased consumer traffic. In addition, a growing pipeline of mixed-use projects are integrating new retail alongside residential and hospitality components, particularly in downtown and emerging submarkets. These developments are reshaping the retail landscape toward more experiential, service-oriented, and necessity-based uses.