Renovated Two-Story Office
2412 Palmer Circle Norman, OK 73069
2412 Palmer Circle, Norman, OK, 73069
$950,000
For Sale
$950,000
Recently renovated two-story office building with conference and training areas, multiple restrooms, and washer/dryer connections.
Property Size6,001 SF
Price / SF$158.31
Days on Market318
Property Features for 2412 Palmer Circle
General Information
- Standard status
- Active
- Size
- 6,001 SF
- Property subtype
- Office
Building Details
- Year Built
- 1996
Listing agency
(405) 669-6710
Listed by
Richard Jennings Real Estate
(405) 669-6710
Source
Xome
Added: Sep 7, 2025 Updated: Jul 21 at 6:20AM Checked: Jul 21 at 6:20AM
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 Richard Jennings Real Estate
Investment Insights
Based on property information with market context.
This recently renovated two-story office building is offered for sale or lease and is described as being in excellent, move-in condition. The space includes office areas across both floors, along with conference rooms and training areas. Additional improvements include break room areas, multiple bathrooms, and washer/dryer connection service.
The property is located in a cul-de-sac setting next to the Westwood Golf, Tennis and Swim park.
The configuration supports a functional office layout with dedicated meeting and training spaces, along with shared break and restroom facilities.
The property is located in a cul-de-sac setting next to the Westwood Golf, Tennis and Swim park.
The configuration supports a functional office layout with dedicated meeting and training spaces, along with shared break and restroom facilities.
Key Highlights
- Recently renovated two‑story office building built in 1996
- Includes office space plus conference rooms and training areas
- Multiple bathrooms throughout the building
Local Financial Insights For Office B
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 | $91.5k | $15.24 |
| − Vacancy | −$23.6k | −$3.93 |
| EGI | $67.9k | $11.31 |
| − OpEx | −$17.0k | −$2.83 |
| NOI | $50.9k | $8.48 |
6,001 SF · lease $15.24/SF/yr · vacancy 25.80% · expense 25.00%
Alternative Uses
Best Use
Office B
$727.1K
$636.2K – $848.3K
NOI $50,895 @ 7.0% cap · market cap 5.36%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$1.04M
$907.4K – $1.21M
NOI $72,588 @ 7.0% cap · market cap 7.64%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Location Intelligence
Current Use by Public Records
Norman Neurosurgical PC
Medical Clinic
Michael James Alvis
Physician
Alvis J Michael ...
Physician
James Alvis
Physician
Whitney Alvis
Law Firm
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FAQs
What type of property is this?
Office building - Recently renovated two-story office building with conference and training areas, multiple restrooms, and washer/dryer connections.
Where is this office building located?
The property is located at 2412 Palmer Circle Norman, OK.
What is the asking price?
The asking price for this property is $950,000.
What are key features of this property?
This property features: Recently renovated two‑story office building built in 1996; Includes office space plus conference rooms and training areas; Multiple bathrooms throughout the building
