Sign Up Successful!
You now have access to more from Realmo!
    For Sale
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    Back to Search
    The Largest CRE Database in the US with Over 1 Million Listings

    1523 72Nd Ave NE Norman, OK 73026

    Sponsored
    For Sale
    $1,950,000

    Farm / Farmhouse, Farm/Estate - Norman, OK

    Type:Farm
    Property size:
    3,528 SF
    Lot size:
    84.00 Acres
    Days on Market:
    27
    Last Refresh:
    Jan 24 at 10:06 am

    Property Features for 1523 72Nd Ave NE

    General Information

    Property type
    Farm
    Property subtype
    Farm
    Standard status
    Active
    Zoning
    100
    Rooms
    Bathroom 1, Bathroom 2, Bathroom 3, Bedroom 1, Bedroom 2, Bedroom 3, Dining Room, Family Room, Living Room
    Bedrooms
    3
    Bathrooms
    3
    APN
    R0186387
    Parking features
    Carport, Garage, Garage - Detached
    Fireplace
    1
    Size
    3,528 SF
    Lot size
    84.00 Acres

    Utilities

    Heating system
    Fireplace(s), Heat Pump (Heating), Natural Gas
    Cooling system
    Central Air
    Water front features
    Waterfront
    Water front
    1

    Building Details

    Year built
    1985
    Year renovated
    1985
    Floors in Building
    2
    Flooring type
    Carpet, Hardwood, Tile
    Building materials
    Stucco, Vinyl Siding
    Roof type
    Asphalt
    Architectural style
    Other

    We can help!

    Listing Contact
    Wally Kerr
    Wally Kerr

    Your Home Sold Guaranteed Realty - Kerr Team (405) 321-8326

    Listing agent Wally Kerr (405) 321-8326

    Listing date Dec 29, 2025

    MLS# 11567586 Listing URL

    Copyright © 2026 My State MLS. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.

    Learn more

    Property Insight Report

    Overview

    Equestrian Estate with Development Potential

    This 84-acre equestrian estate offers potential for luxury living and various opportunities. Currently, the property hosts 4 shows and 3 clinics each year. It is suited for horse enthusiasts and also serves as a venue for weddings, festivals, reining events, dog agility, or cattle ranching. The farm includes 2 homes plus a prime homesite ready for a luxury residence overlooking a pecan grove. The main home has 3 bedrooms and 3 bathrooms with an open-concept design, slate flooring, picture windows, and an oversized study with custom built-ins. Upstairs, there are 2 spacious bedrooms and 2 full baths. The second home offers 2 bedrooms and 1 bath. Equestrian facilities include 3 barns with 28 total stalls, including one barn with a bathroom and another for equipment and hay storage (up to 600 bales). The main barn features 12 stalls, a large tack room, equipment room, and wash rack with hot and cold water. A state-of-the-art Morton indoor arena was constructed in 2024, boasting professional footing with a screenings base and river sand, plus oversized doors for natural ventilation. Outdoor amenities include a dressage sand area, 1 sand and 1 grass jumping rings, a cross-country course, and 10 paddocks with freeze-proof faucets. All structures have had new roofs installed in the last 3 years. Trails wind through the acreage, all just 8 miles from the University of Oklahoma and 10 miles from Lake Thunderbird equestrian trails.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Horse & equestrian properties

    Suggested Use

    Realty agency Dental Office Auto Repair Shop Department Store Food Market Grocery Store Garden Center

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Norman
    County
    Cleveland
    State
    Oklahoma
    Longitude
    -97.331835
    Latitude
    35.238012

    Nearby Similar for Sale

    • New
      $600,000
      4,918 SF

      Norman OK Ranch Duplexes

      Well-maintained duplexes near OU, restaurants, and shopping.
      602 Welston Cir, Norman, OK 73071
      View Details
    • $600,000
      4,918 SF

      Four-Unit Multifamily Investment Opportunity

      Well-maintained duplexes near OU, ideal for investors or rental income.
      603 Welston Cir, Norman, OK 73071
      View Details
    • $359,000
      Pending

      Turnkey Norman Triplex Near OU

      High-performing triplex near OU and Downtown Norman with solid income.
      306 E Hughbert St, Norman, OK 73069
      View Details
    • $3,500,000
      8,000 SF

      Sports Training Academy on 23 Acres

      23-acre sports training academy with 8,000 SF facility for sale.
      3535 SE 44Th St, Norman, OK 73072
      View Details
    • $1,390,000
      1,170 SF

      Norman Duplex Near Stadium

      Two-bedroom duplex near stadium with potential for renovation or rebuild.
      204 206, Norman, OK 73069
      View Details
    • $789,000
      7,400 SF

      Norman Warehouse with Office Space

      7,400 SF warehouse with office near I-35.
      1831 Industrial Blvd, Norman, OK 73069
      View Details
    • $899,000
      5,904 SF

      Norman Retail/Office Building For Sale

      Two-story commercial building in Norman's vibrant Arts District.
      218 E Main St, Norman, OK 73069
      View Details
    • $2,250,000
      3,762 SF

      Multi-Family Near OU Campus

      Multi-family property near the University of Oklahoma campus.
      132 Page St, Norman, OK 73069
      View Details
    • $1,675,000
      1 SF

      University Proximity Multifamily Investment

      Two properties totaling 12 units near the University of Oklahoma.
      537 E Elm Ave, Norman, OK 73069
      View Details
    • $450,000
      4,470 SF

      Norman Commercial Property For Sale

      Three-building commercial property totaling 4,470 SF in Norman, OK.
      3145 SE 44Th St, Norman, OK 73072
      View Details
    • $5,895,000
      83,073 SF

      Value-Add Retail Opportunity

      Retail property with significant value-add potential in Norman, Oklahoma.
      2211 West Main St, Norman, OK 73069
      View Details
    • $275,000
      835 SF

      Updated Condo Near OU Campus

      Move-in ready condo with high-end upgrades near OU campus.
      401 E Boyd St, Norman, OK 73069
      View Details

    FAQs

    What type of property is this?
    Horse & equestrian property - 84-acre equestrian estate suitable for various events and luxury living.
    Where is this horse & equestrian property located?
    The property is located at 1523 72Nd Ave NE Norman, OK.
    What is the asking price?
    The asking price for this property is $1,950,000.
    What are key features of this property?
    This property features: - 84-acre equestrian estate with extensive facilities including 3 barns (28 stalls total), indoor arena (2024), dressage area, jumping rings, cross-country course, and 10 paddocks.; - Versatile property suitable for various events.; - Two homes on the property: a 3-bedroom main home with open-concept design and a 2-bedroom second home.
    (405) 412-7360
    Request Owner's contact information
    1523 72Nd Ave NE Norman, OK 73026
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    1523 72Nd Ave NE
    Norman, OK 73026
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    1523 72Nd Ave NE Norman, OK 73026
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    We can help!
    Listing Contact
    Wally Kerr
    Wally Kerr
    (405) 412-7360
    Learn more
    Google sign-in failed. Please try again or use another login method.
    Create New Password
    • At least 8 characters
    • Contains both letters and numbers
    • Contains uppercase and lowercase letters
    • At most 32 characters
    • Password required
    • Password reset link has expired. Please request a new one.