Whiteboxed Retail/Office
1042-1042 N Flood Ave, Norman, OK 73072
For Sale
Contact for pricing
Recently whiteboxed suite with flexible space and a restroom, positioned in a C-2 shopping center with ample parking.
Property Size37,760 SF
Price / SF$0.08
Days on Market478
Property Features for 1042-1042 N Flood Ave
General Information
Standard status
Size
Zoning
Site & Location
Neighborhood
Highway Access
Listing Agency:
Brick and Beam Realty
(405) 439-9206
Listed By:
Chris Johnson · License OK #200452
(405) 435-3572
Source:
Exprealty
Added: Jul 21, 2025
Changed: Nov 1
Last Checked: Nov 10 at 10:31AM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of Brick and Beam Realty
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Investment Insights
Based on property information with market context.
Suite 1042 at 1010-1050 N Flood Ave in Norman presents a 2,496 SF, clean and open space that has been recently whiteboxed, giving an incoming tenant a ready starting point for a custom buildout. The suite includes one restroom and offers a flexible layout that can support a range of retail, office, medical, or service-based uses. Storefront-oriented improvements are already in place within the center, supporting a straightforward tenant setup.
The suite is located within a shopping center that is newly revitalized under new ownership. The property is C-2 zoned and is approximately 2 miles from I-35, with strong visibility and exposure to 4,394 households within a one-mile radius. Ample parking and storefront signage help accommodate daily customer traffic and routine business visits.
For tenants and buyers seeking an adaptable space, this suite’s open plan and recent whiteboxing can reduce early buildout friction while still allowing design flexibility for the intended use. The combination of a C-2 location, storefront presence, and on-site parking makes the property well-suited for businesses looking to establish or expand operations in a high-traffic Norman corridor.
The suite is located within a shopping center that is newly revitalized under new ownership. The property is C-2 zoned and is approximately 2 miles from I-35, with strong visibility and exposure to 4,394 households within a one-mile radius. Ample parking and storefront signage help accommodate daily customer traffic and routine business visits.
For tenants and buyers seeking an adaptable space, this suite’s open plan and recent whiteboxing can reduce early buildout friction while still allowing design flexibility for the intended use. The combination of a C-2 location, storefront presence, and on-site parking makes the property well-suited for businesses looking to establish or expand operations in a high-traffic Norman corridor.
Key Highlights
- Suite 1042 at 1010–1050 N Flood Ave in Norman offers 2,496 SF of recently whiteboxed, open space.
- Includes one restroom and a flexible layout suitable for retail, office, medical, or service‑based businesses.
- Located in a C‑2 zoned shopping center with ample parking and storefront signage.
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$320,245
Suggested Prices Based on Cap Rates
Cap Rate 5%
$6,404,900
$6.4M
Cap Rate 7%
$4,574,929
$4.6M
Cap Rate 9%
$3,558,278
$3.6M
Market Conditions
NOI Build-Up for 37,760 SF
Gross rent
$575.5K $15.24/SF
− Vacancy
−$148.5K −$3.93/SF
EGI
$427.0K $11.31/SF
− OpEx
−$106.7K −$2.83/SF
NOI
$320.2K $8.48/SF
Area
Norman, OK
Vacancy
25.80%
Lease Rate
$15.24 /SF/Yr
Expense Ratio
25.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$6,404,900
Cap Rate 7%
$4,574,929
Cap Rate 9%
$3,558,278
Alternative Uses
Best Use
Healthcare Medical
$5.61M
$4.91M – $6.54M
NOI $392,507 @ 7.0% cap
Second Best
Retail
$5.38M
$4.71M – $6.28M
NOI $376,656 @ 7.0% cap
Theoretical Best
Specialty Retail
$6.52M
$5.71M – $7.61M
NOI $456,745 @ 7.0% cap
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Who owns this building?
See the owner, sales and loan history
Open Analytics
Current Use
Lease Details
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
522
Businesses Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Demographics for 73072, OK
51,062
Population
20,915
Households
2.4
Avg Household Size
30
Median Age
53%
College-Educated
95%
High-School Grad
52.2 sq mi
ZIP Area
978
Density / Sq Mi
$76,933
Median Household Income
$32,892
Median Earnings
$1,102
Median Rent
$291,400
Median Home Value
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Average Price Trend$/SF for Storefront properties in Cleveland County, OK
Properties on Market for Storefront properties in Cleveland County
Vacancy Rate% for Office in South region
Similar Off Market Nearby
- Redbud Floral — 913 N Flood Ave, Norman, OK 73069
- The Flower Shop — 1440 N Porter Ave, Norman, OK 73071
Frequently Asked Questions
What type of property is this?
Storefront property - Recently whiteboxed suite with flexible space and a restroom, positioned in a C-2 shopping center with ample parking.
Where is this storefront property located?
The property is located at 1042-1042 N Flood Ave Norman, OK.
What are key features of this property?
This property features: Suite 1042 at 1010–1050 N Flood Ave in Norman offers 2,496 SF of recently whiteboxed, open space.; Includes one restroom and a flexible layout suitable for retail, office, medical, or service‑based businesses.; Located in a C‑2 zoned shopping center with ample parking and storefront signage.
