Retail
For Sale
Contact for pricing
121 S Santa Fe Avenue #117, Norman, OK 73069
The space sits about half a mile from the University of Oklahoma and Campus Corner.
Property Size1,360 SF
Price / SF$1.47
Days on Market635
Property Features for 121 S Santa Fe Avenue #117
General Information
Standard status
Active
Size
1,360 SF
Property subtype
Commercial
Zoning
Commercial
Site & Location
Neighborhood
Andrews Park
Building Details
Building Size
1,360 SF
Year Built
1940
Stories
1
Units
5
Listing Agency:
Brick and Beam Realty
(405) 439-9206
Listed By:
Chris Johnson · License #200452
(405) 435-3572
Source:
Eastwoodrealtygroup
Added: Jan 28, 2025
Changed: Oct 23
Last Checked: Oct 23 at 12:26PM
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
Ask AI about this property
Review the available facts, identify missing information and prepare questions for the agent.
Investment Insights
Based on property information with market context.
Suite 117 at 121 S Santa Fe Avenue offers 1,360 square feet of retail space in a building constructed in 1940. The property carries Commercial zoning, and street parking is available nearby.
The suite is approximately half a mile from the University of Oklahoma and Campus Corner. Downtown surroundings include restaurants, shops, cultural events, and monthly art walks.
The suite is approximately half a mile from the University of Oklahoma and Campus Corner. Downtown surroundings include restaurants, shops, cultural events, and monthly art walks.
Key Highlights
- 1,360 square feet of retail space
- Commercial zoning
- Approximately 1/2 mile from Campus Corner and the University of Oklahoma
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$13,566
Suggested Prices Based on Cap Rates
Cap Rate 5%
$271,320
$271.3K
Cap Rate 7%
$193,800
$193.8K
Cap Rate 9%
$150,733
$150.7K
Market Conditions
NOI Build-Up for 1,360 SF
Gross rent
$20.4K $15.00/SF
− Vacancy
−$1.0K −$0.75/SF
EGI
$19.4K $14.25/SF
− OpEx
−$5.8K −$4.27/SF
NOI
$13.6K $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%
$271,320
Cap Rate 7%
$193,800
Cap Rate 9%
$150,733
Alternative Uses
Best Use
Retail
$193.8K
$169.6K – $226.1K
NOI $13,566 @ 7.0% cap · market cap 678.30%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$235.0K
$205.6K – $274.2K
NOI $16,451 @ 7.0% cap · market cap 822.55%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
2,036
Businesses Nearby
42k
Monthly Visits Nearby
Explore this area
Business Placement
Foot Traffic Nearby
Groceries 54%
Dining 20%
Apparel 12%
Shops & Services 8%
Sprouts Farmers Market
Groceries
22,531 visits/mo
0.4 miles
Cicis
Dining
7,064 visits/mo
0.4 miles
Vans
Apparel
4,937 visits/mo
0.4 miles
Rent A Center
Home Improvements & Furnishings
2,503 visits/mo
0.4 miles
Arvest Bank
Shops & Services
1,782 visits/mo
0.3 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
Market
Vacancy Rate% for Retail in South region
Frequently Asked Questions
What type of property is this?
Retail space - The space sits about half a mile from the University of Oklahoma and Campus Corner.
Where is this retail space located?
The property is located at 121 S Santa Fe Avenue #117 Norman, OK.
What are key features of this property?
This property features: 1,360 square feet of retail space; Commercial zoning; Approximately 1/2 mile from Campus Corner and the University of Oklahoma
