Add Listing
    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

    1014 24Th Ave NW Norman, OK 73069

    View on Map
    Loading data...
    Loading data...
    Loading data...
    For Sale
    Contact for pricing

    Custom-built office space with tenant-occupied suite.

    Property size:
    6,250 SF
    Lot size:
    0.52 Acres

    Property Features for 1014 24Th Ave NW

    General Information

    Size
    6,250 SF
    Lot size
    0.52 Acres

    We can help!

    Listing Contact
    Gayla Artman
    Source: Moodyscre

    Listing Agency: Equity Commercial Realty Advisors - OKC Listing Agent: Gayla Artman

    Displayed information is deemed reliable but is not guaranteed and should be independently verified.

    Learn more

    Property Insight Report

    Overview

    Upscale Office Space Available

    This property features an upscale, custom-built office space. Suite 100 includes a grand conference room with double glass doors and an impressive accent rock wall. The suite also offers a large reception and waiting area, six large offices, a consultation area, a kitchen, a large work/copy room, a data room, a janitorial closet, and two restrooms. An indoor storm shelter is also included. Suite 110 is currently leased and tenant-occupied. The property has a size of 6250 square feet.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Farmers Insurance: Tracy ... Insurance Agency Brickell & Associates PC Law Firm Stan A Koop Lawyer Law Firm Stan Koop, PLLC Law Firm

    Suggested Use

    Restaurant Real Estate Agency Law Firm Building Supply Spa & Massage Center Dental Office Big Box & Wholesale Store Auto Repair Shop Hair Salon Nail Salon

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

    Location Insight

    • Map
    • Local Demand
    City
    Norman
    County
    Cleveland
    State
    Oklahoma
    Longitude
    -97.4826347
    Latitude
    35.2308442

    Nearby Similar for Sale

    • $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
    • New
      $739,000
      7,400 SF

      Norman Flex Space with Warehouse

      Flex space with office and warehouse near I-35 and airport.
      1831 Industrial Blvd, Norman, OK 73069
      View Details
    • $1,250,000
      5,031 SF

      Norman Office Building with Income

      Two-suite commercial office building with income and occupancy potential.
      901 Wall St, Norman, OK 73069
      View Details
    • $599,000
      1,596 SF

      Norman, OK Retail Opportunity

      High-traffic corner lot in Norman, Oklahoma, zoned C-1.
      1200 W Main St, Norman, OK 73069
      View Details
    • $600,000
      2,000 SF

      Fly-In Hangar Home Near Lake

      Private 5-acre hangar home with direct runway access near Lake
      9105 Charmee Sandee Ln, Norman, OK 73026
      View Details
    • New
      $575,000
      4,918 SF

      Well-Maintained Four-Unit Multifamily Property

      Four units near OU, ideal for investors or owner-occupants.
      602 Welston Cir, Norman, OK 73071
      View Details
    • New
      $575,000
      Pending

      Four-Unit Multifamily Property in Norman

      Well-maintained duplexes near OU, restaurants, and shopping.
      603 Welston Cir, Norman, OK 73071
      View Details
    • $265,000
      Pending

      Norman Duplex with Recent Updates

      One-story duplex with recent roof and water heater replacements.
      4209 Willowisp Dr, Norman, OK 73072
      View Details
    • New
      $1,190,000
      1,170 SF

      Norman Duplex Near Stadium

      Two-bedroom duplex near stadium with Airbnb approval and rezoning potential.
      204 206, Norman, OK 73069
      View Details
    • $2,350,000
      5,301 SF

      Norman Farmhouse on 28 Acres

      Incredible farmhouse with outdoor living and pecan grove.
      6720 W Tecumseh Rd, Norman, OK 73072
      View Details
    • Contact for pricing

      La Quinta Inn & Suites

      117-room hotel near the University of Oklahoma.
      930 Ed Noble Dr, Norman, OK 73072
      View Details
    • Contact for pricing

      Healthcare Property in Porter Health Village

      Single-story, 36,064 SF healthcare property with 48 inpatient beds.
      506 Wellness Way, Norman, OK 73071
      View Details

    FAQs

    What type of property is this?
    Office units - Custom-built office space with tenant-occupied suite.
    Where is this office units located?
    The property is located at 1014 24Th Ave NW Norman, OK.
    What is the asking price?
    The asking price for this property is $1,500,000.
    What are key features of this property?
    This property features: - Upscale custom-built office space; - Grand conference room with double glass doors and impressive accent rock wall; - Six large offices and consultation area
    (405) 364-5300 Call to check price and availability
    Request Owner's contact information
    1014 24Th Ave NW Norman, OK 73069
    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.
    1014 24Th Ave NW
    Norman, OK 73069
    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
    1014 24Th Ave NW Norman, OK 73069
    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!
    Contact for Pricing
    Please call us for current price
    and status of this listing
    Gayla Artman
    (405) 364-5300 (405) 826-7975
    Learn more
    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!