Corner Auto Shop
For Sale
$475,000
1200 W Main St, Norman, OK 73069
C-1-zoned auto shop at a signalized commercial intersection with an existing month-to-month lease.
Property Size1,596 SF
Price / SF$297.62
Days on Market83
Property Features for 1200 W Main St
General Information
Standard status
Active
Size
1,596 SF
Zoning
C-1
Site & Location
Traffic Count
35,203 vehicles/day
Road Access
Yes
Building Details
Year Built
1952
Listing Agency:
Rieger Realty LLC
Listed By:
Dana M Rieger · License #149317
(405) 310-2796
Source:
Theokclife
Added: Jul 26
Changed: Oct 13
Last Checked: Oct 7 at 1:55PM
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 Rieger Realty LLC
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Investment Insights
Based on property information with market context.
This 1,596-square-foot auto shop was built in 1952 and is currently leased on a month-to-month basis. The property is zoned C-1 and is being conveyed subject to a cell tower easement that will remain separate from property ownership.
Located at 1200 W Main St in Norman, Oklahoma, the property occupies the corner of W Main and Berry. The intersection records approximately 35,203 vehicles per day, providing a prominent commercial setting for the existing automotive use.
Located at 1200 W Main St in Norman, Oklahoma, the property occupies the corner of W Main and Berry. The intersection records approximately 35,203 vehicles per day, providing a prominent commercial setting for the existing automotive use.
Key Highlights
- 1,596‑square‑foot auto shop built in 1952
- C‑1 zoning supports the property’s current commercial classification
- Corner location at W Main and Berry in Norman, OK
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$15,920
Cap Rate
3.35%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$318,400
$318.4K
Cap Rate 7%
$227,429
$227.4K
Cap Rate 9%
$176,889
$176.9K
Market Conditions
NOI Build-Up for 1,596 SF
Gross rent
$23.9K $15.00/SF
− Vacancy
−$1.2K −$0.75/SF
EGI
$22.7K $14.25/SF
− OpEx
−$6.8K −$4.27/SF
NOI
$15.9K $9.98/SF
Area
Norman, OK
Vacancy
5.00%
Lease Rate
$15.00 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$318,400
Cap Rate 7%
$227,429
Cap Rate 9%
$176,889
Alternative Uses
Best Use
Retail
$227.4K
$199.0K – $265.3K
NOI $15,920 @ 7.0% cap · market cap 3.35%
Second Best
Industrial
$135.0K
$118.2K – $157.5K
NOI $9,452 @ 7.0% cap · market cap 1.99%
Theoretical Best
Specialty Retail
$275.8K
$241.3K – $321.8K
NOI $19,305 @ 7.0% cap · market cap 4.06%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
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Current Use
Lease Details
35,203 VPD
Traffic count
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
694
Businesses Nearby
105k
Monthly Visits Nearby
Well-served
Demand for This Use
Explore this area
Business Placement
Foot Traffic Nearby
Dining 53%
Shops & Services 23%
Groceries 21%
Home Improvements & Furnishings 2%
Sprouts Farmers Market
Groceries
22,531 visits/mo
0.4 miles
Dutch Bros. Coffee
Dining
21,138 visits/mo
0.1 miles
Taco Casa
Dining
15,953 visits/mo
0.2 miles
Casey's
Shops & Services
12,627 visits/mo
0.2 miles
Starbucks
Dining
11,747 visits/mo
0.1 miles
Demographics for 73069, OK
26,464
Population
12,719
Households
2.1
Avg Household Size
32
Median Age
45%
College-Educated
93%
High-School Grad
15.7 sq mi
ZIP Area
1,686
Density / Sq Mi
$55,699
Median Household Income
$34,151
Median Earnings
$1,031
Median Rent
$212,400
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Retail in South region
Similar Off Market Nearby
- Niehoff Auto Repair — 1234 Windsor Way, Norman, OK 73069
- Valvoline Instant Oil Change — 2000 W Main St, Norman, OK 73069
- Connection Hail and Dent — 1832 W Main St Suite 108, Norman, OK 73069
- Wise Guys — 1200 W Main St, Norman, OK 73069
- Firestone Complete Auto Care — 566 W Main St, Norman, OK 73069
Frequently Asked Questions
What type of property is this?
Auto shop - C-1-zoned auto shop at a signalized commercial intersection with an existing month-to-month lease.
Where is this auto shop located?
The property is located at 1200 W Main St Norman, OK.
What is the asking price?
The asking price for this property is $475,000.
What are key features of this property?
This property features: 1,596‑square‑foot auto shop built in 1952; C‑1 zoning supports the property’s current commercial classification; Corner location at W Main and Berry in Norman, OK
