Standalone Health Food Retail
For Sale
$2,500,000
1305 36th Ave NW, Norman, OK 73072
Standalone retail building with updated TPO roof, loading area, and large walk-in freezers for grocery operations.
Property Size7,273 SF
Days on Market49
Property Features for 1305 36th Ave NW
General Information
Standard status
Active
Size
7,273 SF
Property subtype
Retail
Additional Details
Business Included
Yes
Traffic Count
15,000 vehicles/day
Heavy Power
Yes
Building Details
Building Size
7,273 SF
Year Built
2003
Tenancy
Single
Listing Agency:
eXp Commercial Oklahoma City - Smith
(405) 296-2015
Listed By:
James Smith · License #OK #181997
Source:
7s
Added: Jun 25
Changed: Aug 8
Last Checked: Aug 11 at 5:09AM
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 eXp Commercial Oklahoma City - Smith
Investment Insights
Based on property information with market context.
This commercially zoned, standalone retail property is currently operating as a health food store and grocery store. The interior includes a shopping area with shelving, along with a back loading area that features two large commercial walk-in freezers. There is also a loading area and an administrative office on site, and the seller would consider leaving equipment as-is.
The exterior has been recently updated, including a TPO roof with a transferrable warranty. The property also includes three-phase electric service with 600 amps available. Public remarks indicate average daily traffic exceeding 15,000 vehicles per day and a median household income between $85,000 per year.
For tenants or buyers looking for a retail grocery format with built-in cold storage and functional back-of-house space, the current configuration offers a ready-to-operate layout. The presence of the loading areas, administrative office, and substantial power service supports day-to-day business needs associated with neighborhood retail and food retail operations.
The exterior has been recently updated, including a TPO roof with a transferrable warranty. The property also includes three-phase electric service with 600 amps available. Public remarks indicate average daily traffic exceeding 15,000 vehicles per day and a median household income between $85,000 per year.
For tenants or buyers looking for a retail grocery format with built-in cold storage and functional back-of-house space, the current configuration offers a ready-to-operate layout. The presence of the loading areas, administrative office, and substantial power service supports day-to-day business needs associated with neighborhood retail and food retail operations.
Key Highlights
- Standalone retail property built in 2003, currently operating as a health food/grocery store
- Updated TPO roof replacement includes a transferrable warranty
- Back loading area with 2 large commercial walk‑in freezers
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
$87,974
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
3.52%
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%
$1,759,480
$1.8M
Cap Rate 7%
$1,256,771
$1.3M
Cap Rate 9%
$977,489
$977.5K
Market Conditions
NOI Build-Up for 7,273 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
$122.2K $16.80/SF
− Vacancy
−$4.9K −$0.67/SF
EGI
$117.3K $16.13/SF
− OpEx
−$29.3K −$4.03/SF
NOI
$88.0K $12.10/SF
Area
Norman, OK
Vacancy
4.00%
Lease Rate
$16.80 /SF/Yr
Expense Ratio
25.00%
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%
$1,759,480
Cap Rate 7%
$1,256,771
Cap Rate 9%
$977,489
Alternative Uses
Best Use
Specialty Retail
$1.26M
$1.10M – $1.47M
NOI $87,974 @ 7.0% cap · market cap 3.52%
Second Best
Retail
$1.04M
$906.9K – $1.21M
NOI $72,548 @ 7.0% cap · market cap 2.90%
Theoretical Best
—
—
same as Best Use
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
15,000 VPD
Traffic count
Single-tenant
Tenancy
Turnkey business
Opportunity
Yes
Heavy power
Location Intelligence
Trade Area within ½ mile
683
Businesses Nearby
65k
Monthly Visits Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Foot Traffic Nearby
Dining 93%
Shops & Services 5%
Beauty & Spa 1%
Home Improvements & Furnishings 1%
McDonald's
Dining
25,955 visits/mo
0.1 miles
SONIC Drive In
Dining
19,050 visits/mo
0.1 miles
Wendy's
Dining
11,533 visits/mo
0.1 miles
Arvest Bank
Shops & Services
3,433 visits/mo
0.1 miles
SUBWAY
Dining
2,333 visits/mo
0.0 miles
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 Retail in South region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Similar Off Market Nearby
- Target Grocery — 1400 24th Ave NW, Norman, OK 73069
- Crest Fresh Market — 2550 Mt Williams Dr, Norman, OK 73069
- Homeland — 2600 W Robinson St, Norman, OK 73069
Frequently Asked Questions
What type of property is this?
Grocery and convenience store - Standalone retail building with updated TPO roof, loading area, and large walk-in freezers for grocery operations.
Where is this grocery and convenience store located?
The property is located at 1305 36th Ave NW Norman, OK.
What is the asking price?
The asking price for this property is $2,500,000.
What are key features of this property?
This property features: Standalone retail property built in 2003, currently operating as a health food/grocery store; Updated TPO roof replacement includes a transferrable warranty; Back loading area with 2 large commercial walk‑in freezers
