Norman Commercial Investment
For Sale
Contact for pricing
30217 Santa Fe Avenue, Norman, OK 73072
6,262 SF commercial building on 2.3 acres for sale.
Property Size6,262 SF
Lot Size2.30 Acres
Price / SF$110.99
Days on Market485
Property Features for 30217 Santa Fe Avenue
General Information
Standard status
Active
Size
6,262 SF
Total Parking Spaces
25
Lot size
2.30 Acres
Property subtype
Industrial
Zoning
Unincorporated - Rural Commercial Industrial
Building Details
Year Built
2007
Buildings
1
Stories
1
Units
3
Listing Agency:
Equity Commercial Realty Advisors, LLC
Listed By:
Tyler Steer · License #145515
Source:
Crexi
Added: Apr 26, 2025
Changed: Aug 21
Last Checked: Aug 23 at 9:24AM
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 Equity Commercial Realty Advisors, LLC
Investment Insights
Based on property information with market context.
This commercial property in Norman, OK, presents an investment opportunity. It is situated on 2.3 acres of commercially zoned land. The property features a 6,262 SF fully insulated and climate-controlled industrial building, constructed in 2007. The building has an average wall height of 12 feet. There are 25 paved surface parking spaces on site. The property is suitable for light industrial, warehouse, or service-oriented operations. It is located within the Norman School District. The location is south of Highway 9 West on Santa Fe, and just north of Norman's newest live, work, play community, Selah.
Key Highlights
- 6,262 SF fully insulated and climate‑controlled industrial building.
- Benefit from 2.3 acres of commercially zoned land.
- Located in a growing and dynamic market, South of Highway 9 West on Santa Fe.
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$40,882
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
5.88%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$817,640
$817.6K
Cap Rate 7%
$584,029
$584.0K
Cap Rate 9%
$454,244
$454.2K
Market Conditions
NOI Build-Up for 6,262 SF
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.
Gross rent
$67.6K $10.80/SF
− Vacancy
−$4.7K −$0.76/SF
EGI
$62.9K $10.04/SF
− OpEx
−$22.0K −$3.52/SF
NOI
$40.9K $6.53/SF
Area
Norman, OK
Vacancy
7.00%
Lease Rate
$10.80 /SF/Yr
Expense Ratio
35.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$817,640
Cap Rate 7%
$584,029
Cap Rate 9%
$454,244
Alternative Uses
Best Use
Flex RnD
$584.0K
$511.0K – $681.4K
NOI $40,882 @ 7.0% cap · market cap 5.88%
Second Best
Industrial
$529.8K
$463.6K – $618.1K
NOI $37,084 @ 7.0% cap · market cap 5.34%
Theoretical Best
Specialty Retail
$1.08M
$946.8K – $1.26M
NOI $75,745 @ 7.0% cap · market cap 10.90%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
12
Businesses Nearby
Well-served
Demand for This Use
Explore this area
Business Placement
Demographics for 73072, OK
51,062
Population
20,915
Households
2.4
Avg Household Size
30
Median Age
53%
College-Educated
95%
High-School Grad
52.2 sq mi
ZIP Area
978
Density / Sq Mi
$76,933
Median Household Income
$32,892
Median Earnings
$1,102
Median Rent
$291,400
Median Home Value
Market
Vacancy Rate% for Industrial in South region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Flex space - 6,262 SF commercial building on 2.3 acres for sale.
Where is this flex space located?
The property is located at 30217 Santa Fe Avenue Norman, OK.
What is the asking price?
The asking price for this property is $695,000.
What are key features of this property?
This property features: 6,262 SF fully insulated and climate‑controlled industrial building.; Benefit from 2.3 acres of commercially zoned land.; Located in a growing and dynamic market, South of Highway 9 West on Santa Fe.
