Two-Story Retail Office
218 E Main Street Norman, OK 73069
For Sale
$899,000
SINGLE_FAMILY - Norman, OK
Property Size5,904 SF
Price / SF$152.27
Days on Market339
Property Features for 218 E Main Street
General Information
Property type
Residential
Property subtype
Retail
Zoning
Commercial
Standard status
Active
APN
218EMain73069
Size
5,904 SF
Utilities
Sewer type
Public Sewer
Heating system
Natural Gas
Cooling system
Electric, Central Air
Water source
Public
Building Details
Year built
1930
Floors in Building
2
Building materials
Brick & Frame
Listing Agency:
Senemar & Associates
(405) 724-7003
Listed By:
Mitra Senemar · License #143837
(405) 834-2158
Added: Aug 25, 2025
Changed: Jul 10
Last Checked: Jul 29 at 10:06PM
MLS# 1184833
Copyright © 2026 MLSOK, Inc. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
For sale at 218 E Main Street in downtown Norman, this two-story commercial building combines street-level retail space with an upstairs office suite. The property includes approximately 3,500 square feet of retail space on the street level and about 1,500 square feet of office space upstairs, with a separate entrance for the upper level. The building is presented with historic charm and modern updates.
The building is described as being located in Norman’s Arts District and positioned just steps from the Amtrak station, surrounded by art galleries, music venues, and restaurants. It is zoned for commercial use.
With an open layout on the upstairs level and flexible use considerations noted for retail, gallery, office, or studio applications, this property is suited for buyers looking for a mixed retail-and-office configuration in a downtown setting.
The building is described as being located in Norman’s Arts District and positioned just steps from the Amtrak station, surrounded by art galleries, music venues, and restaurants. It is zoned for commercial use.
With an open layout on the upstairs level and flexible use considerations noted for retail, gallery, office, or studio applications, this property is suited for buyers looking for a mixed retail-and-office configuration in a downtown setting.
Key Highlights
- 218 E. Main Street in downtown Norman’s Arts District (73069), a two‑story commercial building with brick & frame construction
- Approx. 3,500 SF street‑level retail space plus approx. 1,500 SF upstairs office area
- Upstairs office has a separate entrance for flexible tenant or layout options
Financial Insights For Retail
Simulate Cap Rate and NOI
NOI Build-Up
- 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.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $88.6k | $15.00 |
| − Vacancy | −$4.4k | −$0.75 |
| EGI | $84.1k | $14.25 |
| − OpEx | −$25.2k | −$4.27 |
| NOI | $58.9k | $9.98 |
5,904 SF · lease $15.00/SF/yr · vacancy 5.00% · expense 30.00%
Alternative Uses
Best Use
Retail
$841.3K
$736.2K – $981.5K
NOI $58,892 @ 7.0% cap · market cap 6.55%
Second Best
Office B
$715.3K
$625.9K – $834.5K
NOI $50,072 @ 7.0% cap · market cap 5.57%
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.
Property Analytics
Property Profile
Location Intelligence
Current Use
Similar Off Market Nearby
- Florid Floral — 541 S University Blvd Suite B, Norman, OK 73069
- Designs by Laura — 115 E Dale St, Norman, OK 73069
- Redbud Floral — 913 N Flood Ave, Norman, OK 73069
Frequently Asked Questions
What type of property is this?
Storefront property - Two-story commercial building with street-level retail and an upstairs office suite featuring a separate entrance.
Where is this storefront 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: 218 E. Main Street in downtown Norman’s Arts District (73069), a two‑story commercial building with brick & frame construction; Approx. 3,500 SF street‑level retail space plus approx. 1,500 SF upstairs office area; Upstairs office has a separate entrance for flexible tenant or layout options
