Freestanding Retail
For Sale
Contact for pricing
861 Sonoma Park Dr, Norman, OK 73071
Purpose-built retail facility with a substantial footprint and adaptable interior layout for commercial occupancy.
Property Size23,800 SF
Price / SF$117.65
Days on Market682
Property Features for 861 Sonoma Park Dr
General Information
Standard status
Active
Size
23,800 SF
Property subtype
RETAIL
Building Details
Year Built
2018
Buildings
1
Listing Agency:
Creek Price Edwards and Company - Oklahoma City
(405) 843-7474
Listed By:
Everest Ernst · License #OK 151097
(405) 830-8505
Source:
Moodyscre
Added: Dec 5, 2024
Changed: Oct 6
Last Checked: Oct 16 at 9:49AM
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 Creek Price Edwards and Company - Oklahoma City
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Investment Insights
Based on property information with market context.
This freestanding retail building contains 23,800 square feet and was constructed in 2018 as a purpose-built commercial facility. The existing footprint provides room for customized retail layouts and supports a range of in-building merchandising configurations.
Located at 861 Sonoma Park Dr in Norman, Oklahoma, the property offers an established physical setting for a retail operation. Its contemporary design and dedicated retail orientation distinguish it from generic commercial space.
Located at 861 Sonoma Park Dr in Norman, Oklahoma, the property offers an established physical setting for a retail operation. Its contemporary design and dedicated retail orientation distinguish it from generic commercial space.
Key Highlights
- 23,800‑square‑foot freestanding retail building
- Constructed in 2018
- Purpose‑built for retail use
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$237,405
Cap Rate
8.48%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$4,748,100
$4.7M
Cap Rate 7%
$3,391,500
$3.4M
Cap Rate 9%
$2,637,833
$2.6M
Market Conditions
NOI Build-Up for 23,800 SF
Gross rent
$357.0K $15.00/SF
− Vacancy
−$17.9K −$0.75/SF
EGI
$339.2K $14.25/SF
− OpEx
−$101.7K −$4.27/SF
NOI
$237.4K $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%
$4,748,100
Cap Rate 7%
$3,391,500
Cap Rate 9%
$2,637,833
Alternative Uses
Best Use
Retail
$3.39M
$2.97M – $3.96M
NOI $237,405 @ 7.0% cap · market cap 8.48%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$4.11M
$3.60M – $4.80M
NOI $287,885 @ 7.0% cap · market cap 10.28%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
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Open Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
365
Businesses Nearby
157k
Monthly Visits Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Foot Traffic Nearby
Superstores 51%
Shops & Services 34%
Dining 13%
Beauty & Spa 2%
Walmart
Superstores
79,867 visits/mo
0.2 miles
7-Eleven
Shops & Services
25,160 visits/mo
0.3 miles
Murphy USA
Shops & Services
19,955 visits/mo
0.2 miles
Taco Bell
Dining
11,478 visits/mo
0.2 miles
IHOP
Dining
8,884 visits/mo
0.1 miles
Demographics for 73071, OK
43,379
Population
19,192
Households
2.3
Avg Household Size
31
Median Age
42%
College-Educated
94%
High-School Grad
23.3 sq mi
ZIP Area
1,862
Density / Sq Mi
$59,258
Median Household Income
$32,830
Median Earnings
$1,059
Median Rent
$206,600
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
Frequently Asked Questions
What type of property is this?
Storefront property - Purpose-built retail facility with a substantial footprint and adaptable interior layout for commercial occupancy.
Where is this storefront property located?
The property is located at 861 Sonoma Park Dr Norman, OK.
What is the asking price?
The asking price for this property is $2,800,000.
What are key features of this property?
This property features: 23,800‑square‑foot freestanding retail building; Constructed in 2018; Purpose‑built for retail use
