Office Building with Conference
For Sale
$325,000
2425 Wilcox Drive, Norman, OK 73069
Office suite in a zoned C-2 building with six private offices, a large conference room, and two restrooms.
Property Size2,249 SF
Days on Market93
Property Features for 2425 Wilcox Drive
General Information
Standard status
Active
Size
2,249 SF
Property subtype
Commercial
Zoning
Commercial
Additional Details
Highway Access
Yes
Taxes and HOA fees
Annual Taxes
$4,111
Building Details
Building Size
2,249 SF
Year Built
1982
Tenancy
Multi
Listing Agency:
Stonehenge Properties LLC
(405) 201-8132
Listed By:
Zac Loeffler · License #176710
(405) 201-8132
Source:
Capitalrealestateok
Added: May 12
Changed: Aug 8
Last Checked: Aug 11 at 2:45PM
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 Stonehenge Properties LLC
Investment Insights
Based on property information with market context.
This office building suite offers a functional layout for professional use. The space includes six private offices, one large conference room, and two restrooms, supporting both individual work and group meetings.
The property is located at 2425 Wilcox Drive in Norman, Oklahoma, with convenient access to I-35 and Highway 9. It is about two miles from the University of Oklahoma Gaylord Family Memorial Stadium. The building is zoned C-2.
Built in 1982, the property is positioned within an established commercial environment, with neighboring tenants including an Allstate Insurance office, a property management company, and an oil & gas office. The configuration is well-suited for small businesses and professional service users looking for a centrally accessible office location, subject to applicable leasing and occupancy requirements.
The property is located at 2425 Wilcox Drive in Norman, Oklahoma, with convenient access to I-35 and Highway 9. It is about two miles from the University of Oklahoma Gaylord Family Memorial Stadium. The building is zoned C-2.
Built in 1982, the property is positioned within an established commercial environment, with neighboring tenants including an Allstate Insurance office, a property management company, and an oil & gas office. The configuration is well-suited for small businesses and professional service users looking for a centrally accessible office location, subject to applicable leasing and occupancy requirements.
Key Highlights
- Six private offices plus one large conference room
- Two restrooms in the suite
- Zoned C‑2
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
$19,074
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
5.87%
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%
$381,480
$381.5K
Cap Rate 7%
$272,486
$272.5K
Cap Rate 9%
$211,933
$211.9K
Market Conditions
NOI Build-Up for 2,249 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
$34.3K $15.24/SF
− Vacancy
−$8.8K −$3.93/SF
EGI
$25.4K $11.31/SF
− OpEx
−$6.4K −$2.83/SF
NOI
$19.1K $8.48/SF
Area
Norman, OK
Vacancy
25.80%
Lease Rate
$15.24 /SF/Yr
Expense Ratio
25.00%
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%
$381,480
Cap Rate 7%
$272,486
Cap Rate 9%
$211,933
Alternative Uses
Best Use
Office B
$272.5K
$238.4K – $317.9K
NOI $19,074 @ 7.0% cap · market cap 5.87%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$388.6K
$340.1K – $453.4K
NOI $27,204 @ 7.0% cap · market cap 8.37%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Multi-tenant
Tenancy
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
780
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
Market
Vacancy Rate% for Office in South region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Office building - Office suite in a zoned C-2 building with six private offices, a large conference room, and two restrooms.
Where is this office building located?
The property is located at 2425 Wilcox Drive Norman, OK.
What is the asking price?
The asking price for this property is $325,000.
What are key features of this property?
This property features: Six private offices plus one large conference room; Two restrooms in the suite; Zoned C‑2
