Two-Story Mixed-Use
For Sale
$899,000
218 E Main Street, Norman, OK 73069
Commercial Sale, Norman, OK
Property Size5,904 SF
Price / SF$152.27
Days on Market430
Property Features for 218 E Main Street
General Information
Property type
Commercial Sale
Property subtype
Retail
Zoning
Commercial
Directions
On Main street, between Porter Avenue and Jones Avenue.
Standard status
Active
APN
218EMain73069
Size
5,904 SF
Additional Details
Mixed-Use Components
retail, office
Property Use
Commercial
Utilities
Sewer type
Public Sewer
Heating system
Central, Natural Gas
Cooling system
Electric
Water source
Public
Building Details
Year built
1930
Floors in Building
2
Building materials
Brick & Frame
Buildings
1
Listing Agency:
Senemar & Associates
(405) 724-7003
Listed By:
Mitra Senemar
(405) 834-2158
Added: Aug 25, 2025
Changed: Oct 23
Last Checked: Oct 28 at 4:06AM
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.
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Investment Insights
Based on property information with market context.
This 5,904-square-foot mixed-use building dates to 1930 and has brick and frame construction. The street level includes approximately 3,500 SF of retail space, while the upper floor contains approximately 1,500 SF of office space with a separate entrance. The building is also described as having an open layout. Heating is central and natural gas; cooling is electric, with public water and sewer service.
At 218 E. Main Street in Norman, the property is near the Amtrak station, art galleries, music venues, and restaurants. Commercial zoning and the combination of retail and office areas define the property's existing configuration.
At 218 E. Main Street in Norman, the property is near the Amtrak station, art galleries, music venues, and restaurants. Commercial zoning and the combination of retail and office areas define the property's existing configuration.
Key Highlights
- 5,904‑square‑foot mixed‑use building constructed in 1930
- Approximately 3,500 SF of street‑level retail space
- Approximately 1,500 SF of upstairs office space with a 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.
How Realmo checks its estimates
Property Analytics
Who owns this building?
See the owner, sales and loan history
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Current Use
Lease Details
1
Office units
Location Intelligence
Trade Area within ½ mile
2,011
Businesses Nearby
Explore this area
Business Placement
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 Office in South region
Frequently Asked Questions
What type of property is this?
Mixed-use property - Commercial zoning accompanies a street-level retail area and an upstairs office with its own entrance.
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‑square‑foot mixed‑use building constructed in 1930; Approximately 3,500 SF of street‑level retail space; Approximately 1,500 SF of upstairs office space with a separate entrance
