Flexible Institutional
1109 North Porter Avenue Norman, OK 73071
1109 North Porter Avenue, Norman, OK, 73071
$1,400,000
For Sale
$1,400,000
Functional, covered-parking facility on a high-traffic corridor with C-3 flexibility for institutional or office users.
Property Size11,802 SF
Price / SF$118.62
Days on Market47
Property Features for 1109 North Porter Avenue
General Information
- Standard status
- Active
- Size
- 11,802 SF
- Property subtype
- Special Purpose
Listing Agency
Price Edwards and Company - Oklahoma City
(405) 412-3810
Listed by
Tre Dupuy
(405) 412-3810
Source
Tcnworldwide
Added: Jun 2 Checked: Jul 17 at 5:41 am
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 Price Edwards and Company - Oklahoma City
Investment Insights
Based on property information with market context.
A 11,802 SF institutional facility with a functional layout and on-site covered parking. Historically used as a funeral home, the building is maintained and offers adaptable space that can support a church, religious assembly, community facility, office user, or other institutional application.
The property is conveniently located near the University of Oklahoma campus and sits on the high-traffic Porter Avenue corridor, providing strong visibility for organizations and professional services seeking a prominent presence.
With flexible C-3 zoning, the building’s existing configuration and institutional heritage make it a practical option for buyers looking to operate a faith-based or community use, as well as users exploring an office or similar institutional footprint. It’s well suited for an operator who wants an established facility that can transition to a new program while maintaining a professional, ready-to-use character.
The property is conveniently located near the University of Oklahoma campus and sits on the high-traffic Porter Avenue corridor, providing strong visibility for organizations and professional services seeking a prominent presence.
With flexible C-3 zoning, the building’s existing configuration and institutional heritage make it a practical option for buyers looking to operate a faith-based or community use, as well as users exploring an office or similar institutional footprint. It’s well suited for an operator who wants an established facility that can transition to a new program while maintaining a professional, ready-to-use character.
Key Highlights
- 11,802 SF facility with a functional layout
- Historically used as a funeral home; could transition to a church, religious assembly, community facility, office, or other institutional use
- Flexible C‑3 zoning
Local Financial Insights For Office B
Simulate Cap Rate and NOI
NOI Build-Up
- Vacancy
- income lost from leasable area expected to sit empty during the year — subtracted from gross rent.
- EGI (Effective Gross Income)
- gross rent minus vacancy losses — the realistic income before paying operating costs.
- OpEx (Operating Expenses)
- recurring costs to operate the property (property tax, insurance, utilities, maintenance, management) — excludes financing and capital improvements.
- NOI (Net Operating Income)
- income a property generates after operating costs but before financing and taxes.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $179.9k | $15.24 |
| − Vacancy | −$46.4k | −$3.93 |
| EGI | $133.5k | $11.31 |
| − OpEx | −$33.4k | −$2.83 |
| NOI | $100.1k | $8.48 |
11,802 SF · lease $15.24/SF/yr · vacancy 25.80% · expense 25.00%
Alternative Uses
Best Use
Office B
$1.43M
$1.25M – $1.67M
NOI $100,093 @ 7.0% cap · market cap 7.15%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$2.04M
$1.78M – $2.38M
NOI $142,757 @ 7.0% cap · market cap 10.20%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Property Profile
Location Intelligence
Current Use by Public Records
Primrose Funeral Service ...
Social Service Agency
Similar For Sale Nearby
FAQs
What type of property is this?
Church & religious facility - Functional, covered-parking facility on a high-traffic corridor with C-3 flexibility for institutional or office users.
Where is this church & religious facility located?
The property is located at 1109 North Porter Avenue Norman, OK.
What is the asking price?
The asking price for this property is $1,400,000.
What are key features of this property?
This property features: 11,802 SF facility with a functional layout; Historically used as a funeral home; could transition to a church, religious assembly, community facility, office, or other institutional use; Flexible C‑3 zoning
