Retail Space of 3,009
For Sale
Contact for pricing
2248 36th Ave NW, Norman, OK 73072
Retail space available for sale, approximately 3,009 square feet.
Property Size3,009 SF
Price / SF$154
Days on Market180
Property Features for 2248 36th Ave NW
General Information
Standard status
Active
Size
3,009 SF
Property subtype
Office
Building Details
Buildings
1
Stories
1
Listing Agency:
ROI Real Estate LLC
Listed By:
Isaac Christian · License #OK
Source:
Crexi
Added: Feb 13
Changed: Aug 8
Last Checked: Aug 11 at 7:32AM
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 ROI Real Estate LLC
Investment Insights
Based on property information with market context.
This commercial property offers a retail space with an area of 3,009 square feet. The property is located in Norman, OK.
Key Highlights
- Retail Space
- 3,009 SqFt
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
$30,015
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
6.44%
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%
$600,300
$600.3K
Cap Rate 7%
$428,786
$428.8K
Cap Rate 9%
$333,500
$333.5K
Market Conditions
NOI Build-Up for 3,009 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
$45.1K $15.00/SF
− Vacancy
−$2.3K −$0.75/SF
EGI
$42.9K $14.25/SF
− OpEx
−$12.9K −$4.27/SF
NOI
$30.0K $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 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%
$600,300
Cap Rate 7%
$428,786
Cap Rate 9%
$333,500
Alternative Uses
Best Use
Retail
$428.8K
$375.2K – $500.3K
NOI $30,015 @ 7.0% cap · market cap 6.44%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$520.0K
$455.0K – $606.6K
NOI $36,397 @ 7.0% cap · market cap 7.80%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
683
Businesses Nearby
65k
Monthly Visits Nearby
Explore this area
Business Placement
Foot Traffic Nearby
Dining 93%
Shops & Services 5%
Beauty & Spa 1%
Home Improvements & Furnishings 1%
McDonald's
Dining
25,955 visits/mo
0.1 miles
SONIC Drive In
Dining
19,050 visits/mo
0.1 miles
Wendy's
Dining
11,533 visits/mo
0.1 miles
Arvest Bank
Shops & Services
3,433 visits/mo
0.1 miles
SUBWAY
Dining
2,333 visits/mo
0.0 miles
Demographics for 73072, OK
51,062
Population
20,915
Households
2.4
Avg Household Size
30
Median Age
53%
College-Educated
95%
High-School Grad
52.2 sq mi
ZIP Area
978
Density / Sq Mi
$76,933
Median Household Income
$32,892
Median Earnings
$1,102
Median Rent
$291,400
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?
Retail space - Retail space available for sale, approximately 3,009 square feet.
Where is this retail space located?
The property is located at 2248 36th Ave NW Norman, OK.
What is the asking price?
The asking price for this property is $466,385.
What are key features of this property?
This property features: Retail Space; 3,009 SqFt
