Mixed-Use Building with Upper-Level
For Sale
$899,000
218 E Main Street, Norman, OK 73069
A separate-entry office occupies the upper floor above street-facing retail space.
Property Size5,904 SF
Price / SF$152.27
Days on Market428
Property Features for 218 E Main Street
General Information
Standard status
Active
Size
5,904 SF
Property subtype
Commercial
Zoning
Commercial
Site & Location
Neighborhood
Larsh/Miller
Public Transit
Yes
Mixed-Use Components
retail, office
Additional Details
Office Units
1
Property Use
Commercial
Building Details
Building Size
5,904 SF
Year Built
1930
Buildings
1
Stories
2
Listing Agency:
Senemar & Associates
(405) 724-7003
Listed By:
Mitra Senemar · License #143837
(405) 834-2158
Source:
Eastwoodrealtygroup
Added: Aug 25, 2025
Changed: Oct 26
Last Checked: Oct 23 at 3:20PM
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 Senemar & Associates
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Investment Insights
Based on property information with market context.
This two-story commercial building contains approximately 3,500 SF of retail area at street level and an approximately 1,500 SF office on the upper floor. The office has its own entrance. The property totals 5,904 SF and is zoned Commercial.
At 218 E. Main Street in Norman, the building is near the Amtrak station, art galleries, music venues, and restaurants. Its downtown setting places retail and office space in the same property.
At 218 E. Main Street in Norman, the building is near the Amtrak station, art galleries, music venues, and restaurants. Its downtown setting places retail and office space in the same property.
Key Highlights
- 5,904 SF two‑story mixed‑use building
- Approximately 3,500 SF of street‑level retail space
- Approximately 1,500 SF upstairs office with separate entrance
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$58,892
Cap Rate
6.55%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,177,840
$1.2M
Cap Rate 7%
$841,314
$841.3K
Cap Rate 9%
$654,356
$654.4K
Market Conditions
NOI Build-Up for 5,904 SF
Gross rent
$88.6K $15.00/SF
− Vacancy
−$4.4K −$0.75/SF
EGI
$84.1K $14.25/SF
− OpEx
−$25.2K −$4.27/SF
NOI
$58.9K $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%
$1,177,840
Cap Rate 7%
$841,314
Cap Rate 9%
$654,356
Alternative Uses
Best Use
Retail
$841.3K
$736.2K – $981.5K
NOI $58,892 @ 7.0% cap · market cap 6.55%
Second Best
Mixed Use
$740.1K
$647.6K – $863.5K
NOI $51,808 @ 7.0% cap · market cap 5.76%
Theoretical Best
Specialty Retail
$1.02M
$892.7K – $1.19M
NOI $71,415 @ 7.0% cap · market cap 7.94%
Zoning and permitted uses should be independently verified with authorities.
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Current Use
Lease Details
1
Office units
Location Intelligence
Trade Area within ½ mile
2,011
Businesses Nearby
19k
Monthly Visits Nearby
Explore this area
Business Placement
Foot Traffic Nearby
Dining 65%
Apparel 26%
Shops & Services 9%
SONIC Drive In
Dining
11,070 visits/mo
0.4 miles
Vans
Apparel
4,937 visits/mo
0.2 miles
Arvest Bank
Shops & Services
1,782 visits/mo
0.1 miles
Sam's Southern Eatery
Dining
1,410 visits/mo
0.5 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
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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?
Mixed-use property - A separate-entry office occupies the upper floor above street-facing retail space.
Where is this mixed-use property located?
The property is located at 218 E Main Street Norman, OK.
What is the asking price?
The asking price for this property is $899,000.
What are key features of this property?
This property features: 5,904 SF two‑story mixed‑use building; Approximately 3,500 SF of street‑level retail space; Approximately 1,500 SF upstairs office with separate entrance
