Sign Up Successful!
You now have access to more from Realmo!
    For Lease
    • 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

    1238 N Adkins Hill Rd Norman, OK 73072

    Loading data...
    Loading data...
    Loading data...
    For Lease
    $900 /Mo ($18 SF/Yr)

    Multi-tenant office building with easy I-35 access. Utilities included.

    Property size:
    600 SF
    Lot size:
    10.10 Acres

    Property Features for 1238 N Adkins Hill Rd

    General Information

    Size
    600 SF
    Lot size
    10.10 Acres

    We can help!

    Listing Contact
    Gayla Artman
    Gayla Artman
    Source: Moodyscre

    Listing Agent: Gayla Artman

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

    Learn more

    Overview

    Norman Office Space For Rent

    This multi-tenant office building offers office and flex space for rent. The property includes two offices and one restroom. The listed space is 600 square feet. Utilities are included. The location provides easy access to I-35.
    Location Intelligence

    Current Use by Public Records

    Adkins Hill Rental ... Rv Storage Facility Adkins Construction LLC Construction Company

    Suggested Use

    Restaurant Clothing Store Gym & Fitness Pharmacy Wholesale Shop Auto Parts Store Convenience Store Garden Center Home Appliance Store Storage Facility

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

    Location Insight

    • Map
    • Local Demand
    City
    Norman
    County
    Cleveland
    State
    Oklahoma
    Longitude
    -97.476918
    Latitude
    35.161408

    Nearby Similar for Lease

    • $1,552 /Mo
      1,406 SF

      Modern Warehouse with Office Space

      Modern warehouse with office, built in 2020, in Norman.
      1820 W Tecumseh Rd, Norman, OK 73069
      View Details
    • $1,552 /Mo
      8,160 SF

      Modern Warehouse Built in 2020

      Modern warehouse with office, accessible bathroom, and garage space.
      1800 W Tecumseh Rd, Norman, OK 73069
      View Details
    • $12 SF/Yr
      2,496 SF

      Norman Retail/Office Ready Suite

      2,496 SF whiteboxed suite suitable for various businesses.
      1042 N Flood Ave, Norman, OK 73072
      View Details
    • $850 /Mo
      800 SF

      Updated Condo in Norman, Oklahoma

      Recently updated 2-bedroom condo with new appliances and flooring.
      1331 Glen Oaks Ct, Norman, OK 73071
      View Details
    • Contact for pricing
      3,000 SF

      Retail Space in High-Traffic Center

      Retail space in a top-ranked shopping center with high visibility.
      1800 24Th Ave NW, Norman, OK 73069
      View Details
    • $16 SF/Yr
      3,300 SF

      Modern Office/Warehouse Space Available

      Newly constructed office/warehouse with flexible layouts and ample parking.
      4701 W Main St, Norman, OK 73072
      View Details
    • Contact for pricing
      4,200 SF

      Retail Space in Community Center

      Retail space available in a high-traffic community shopping center.
      1500 24Th Ave NW, Norman, OK 73071
      View Details
    • $8 SF/Yr
      6,412 SF

      Norman Retail Space For Lease

      6,412 SF suite ideal for retail or service businesses.
      1024 N Flood Ave, Norman, OK 73072
      View Details
    • Contact for pricing
      1,400 SF

      Retail Space in High-Traffic Center

      Retail space available in a highly visited shopping center.
      1628-1680 24Th Ave NW, Norman, OK 73071
      View Details
    • $12 SF/Yr
      1,688 SF

      Prominent Retail Space on Parkway

      Retail space with high visibility and strong anchor tenants.
      560 Ed Noble Pkwy, Norman, OK 73072
      View Details
    • $18 SF/Yr
      7,955 SF

      Norman Office Space for Lease

      Prime Norman location, flexible suites available
      808 24Th Ave, Norman, OK 73072
      View Details
    • Contact for pricing
      2,100 SF

      Retail Space in High-Traffic Center

      Retail space available in a highly visited community shopping center.
      1351 24Th Ave NW, Norman, OK 73072
      View Details

    FAQs

    What type of property is this?
    Office space - Multi-tenant office building with easy I-35 access. Utilities included.
    Where is this office space located?
    The property is located at 1238 N Adkins Hill Rd Norman, OK.
    What is the lease rate?
    The lease rate is $18 SF/Yr.
    What are key features of this property?
    This property features: - Easy access to I-35; - Utilities included; - Multi-tenant office building
    (405) 826-7975
    Request Owner's contact information
    1238 N Adkins Hill Rd Norman, OK 73072
    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.
    1238 N Adkins Hill Rd
    Norman, OK 73072
    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
    1238 N Adkins Hill Rd Norman, OK 73072
    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
    Gayla Artman
    Gayla Artman
    Real Estate License ID: OK 079819
    (405) 826-7975
    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.