Second-Generation Restaurant on
For Sale
Contact for pricing
1805 W Main, Norman, OK 73069
Second-generation restaurant for sale or lease at a signalized intersection on busy W Main Street in Norman.
Property Size2,528 SF
Price / SF$346.12
Days on Market50
Property Features for 1805 W Main
General Information
Standard status
Active
Size
2,528 SF
Property subtype
Retail
Zoning
C-2
Lease Type
NNN
Site & Location
Traffic Count
26,297 vehicles/day
Highway Access
Yes
Road Access
Yes
Building Details
Year Built
1979
Tenancy
Single
Listing Agency:
Equity Commercial Realty Advisors, LLC
Listed By:
David Lide · License #OK 130274
(405) 361-2100
Source:
Crexi
Added: Jul 20
Changed: Aug 23
Last Checked: Sep 5 at 2:28PM
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 second-generation restaurant property is available for sale or lease on a NNN basis. The site is positioned at a hard corner and fronts a signalized intersection on W Main Street, creating strong visibility for passing traffic.
Located at 1805 W Main in Norman, the property is approximately one-half mile from Interstate 35 and just minutes from the University of Oklahoma campus. Traffic counts are reported at 26,297 vehicles per day along Main Street (ACOG ’24), supporting consistent commercial exposure for restaurant operations.
As a second-generation restaurant, the property is suited for foodservice use and offers an established layout for continued restaurant activity.
Located at 1805 W Main in Norman, the property is approximately one-half mile from Interstate 35 and just minutes from the University of Oklahoma campus. Traffic counts are reported at 26,297 vehicles per day along Main Street (ACOG ’24), supporting consistent commercial exposure for restaurant operations.
As a second-generation restaurant, the property is suited for foodservice use and offers an established layout for continued restaurant activity.
Key Highlights
- Second‑generation restaurant available for sale for $875,000 or lease at $29.75 PSF NNN
- Located on a hard corner at the signalized intersection of Mercedes and Main in Norman
- Busy Main Street traffic count of 26,297 vehicles per day (ACOG '24)
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
$30,579
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
3.49%
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%
$611,580
$611.6K
Cap Rate 7%
$436,843
$436.8K
Cap Rate 9%
$339,767
$339.8K
Market Conditions
NOI Build-Up for 2,528 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
$42.5K $16.80/SF
− Vacancy
−$1.7K −$0.67/SF
EGI
$40.8K $16.13/SF
− OpEx
−$10.2K −$4.03/SF
NOI
$30.6K $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%
$611,580
Cap Rate 7%
$436,843
Cap Rate 9%
$339,767
Alternative Uses
Best Use
Specialty Retail
$436.8K
$382.2K – $509.7K
NOI $30,579 @ 7.0% cap · market cap 3.49%
Second Best
—
—
no second resolved use
Theoretical Best
—
—
same as Best Use
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
26,297 VPD
Traffic count
Yes
Highway access
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
726
Businesses Nearby
135k
Monthly Visits Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Foot Traffic Nearby
Dining 48%
Shops & Services 31%
Superstores 13%
Groceries 5%
Dutch Bros. Coffee
Dining
21,138 visits/mo
0.5 miles
Big Lots
Superstores
17,226 visits/mo
0.4 miles
Norman #1
Shops & Services
17,191 visits/mo
0.5 miles
Panera Bread
Dining
15,790 visits/mo
0.4 miles
Wendy's
Dining
6,669 visits/mo
0.2 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
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Conventional restaurant - Second-generation restaurant for sale or lease at a signalized intersection on busy W Main Street in Norman.
Where is this conventional restaurant located?
The property is located at 1805 W Main Norman, OK.
What is the asking price?
The asking price for this property is $875,000.
What are key features of this property?
This property features: Second‑generation restaurant available for sale for $875,000 or lease at $29.75 PSF NNN; Located on a hard corner at the signalized intersection of Mercedes and Main in Norman; Busy Main Street traffic count of 26,297 vehicles per day (ACOG '24)
