Norman OK Retail Investment
831 Sonoma Park Dr Norman, OK 73071
For Sale
$2,800,000
23,800 SF retail building in Norman, Oklahoma for sale.
Property Size23,800 SF
Price / SF$117.65
Days on Market304
Property Features for 831 Sonoma Park Dr
General Information
- Standard status
- Active
- Size
- 23,800 SF
- Property subtype
- Retail
Building Details
- Year Built
- 2018
Listing Agency:
(405) 830-8505
Listed By:
Ev Ernst
(405) 830-8505
Source:
Tcnworldwide
Added: Sep 25, 2025
Changed: Jul 6
Last Checked: Jul 25 at 6:20AM
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 Ev Ernst
Investment Insights
Based on property information with market context.
Located in Norman, Oklahoma, this 23,800 SF free-standing building presents an investment opportunity. Constructed in 2018, the property offers a modern, purpose-built space suited for retail businesses. The location provides high visibility and accessibility. The surrounding area is near the University of Oklahoma, offering foot traffic and a diverse customer base. Nearby attractions include the Firehouse Art Center, Main Street shopping district, and the Norman Arts District.
Key Highlights
- High‑visibility location in Norman, Oklahoma, near the University of Oklahoma, ensuring a steady stream of foot traffic.
- Modern, purpose‑built 23,800 SF free‑standing building constructed in 2018, offering contemporary design.
- Ample space for customized retail layouts, providing flexibility.
Financial Insights For Retail
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 | $357.0k | $15.00 |
| − Vacancy | −$17.9k | −$0.75 |
| EGI | $339.2k | $14.25 |
| − OpEx | −$101.7k | −$4.27 |
| NOI | $237.4k | $9.98 |
23,800 SF · lease $15.00/SF/yr · vacancy 5.00% · expense 30.00%
Alternative Uses
Best Use
Retail
$3.39M
$2.97M – $3.96M
NOI $237,405 @ 7.0% cap · market cap 8.48%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$4.11M
$3.60M – $4.80M
NOI $287,885 @ 7.0% cap · market cap 10.28%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Property Profile
Location Intelligence
Current Use by Public Records
American Freight - Furniture, ...
Furniture & Home Goods
FAQs
What type of property is this?
Retail property - 23,800 SF retail building in Norman, Oklahoma for sale.
Where is this retail property located?
The property is located at 831 Sonoma Park Dr Norman, OK.
What is the asking price?
The asking price for this property is $2,800,000.
What are key features of this property?
This property features: High‑visibility location in Norman, Oklahoma, near the University of Oklahoma, ensuring a steady stream of foot traffic.; Modern, purpose‑built 23,800 SF free‑standing building constructed in 2018, offering contemporary design.; Ample space for customized retail layouts, providing flexibility.
