Atrium Office
For Sale
Contact for pricing
2600 Van Buren St, Norman, OK 73072
Multi-tenant office property with a glass elevator, natural light, and C-2 commercial zoning.
Property Size29,750 SF
Lot Size1.23 Acres
Price / SF$134.45
Days on Market10
Property Features for 2600 Van Buren St
General Information
Standard status
Active
Size
29,750 SF
Total Parking Spaces
69
Elevators
Yes
Lot size
1.23 Acres
Property subtype
Office
Zoning
C-2 (Commercial)
Additional Details
Highway Access
Yes
Amenities
open atrium
abundant natural light
ADT security
exterior camera system
Building Details
Year Built
1986
Year Renovated
2020
Buildings
1
Stories
3
Tenancy
Multi
Building Size
29,750 SF
Listing Agency:
Equity Commercial Realty Advisors, LLC
Listed By:
Judy Hatfield, CCIM · License #OK 79662
Source:
Crexi
Added: Aug 25
Changed: Sep 3
Last Checked: Sep 3 at 2:13AM
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 Equity Commercial Realty Advisors, LLC
Investment Insights
Based on property information with market context.
Riverside Center is a 29,750-square-foot office building completed in 1986 and configured for multiple occupants. Interior features include an open atrium, glass elevator, substantial natural light, and distinctive architectural elements. The property includes 69 on-site parking spaces, ADT security, and an exterior camera system.
Located at 2600 Van Buren St in Norman, Oklahoma, the property occupies approximately 1.23 acres and offers access to I-35, Highway 9, and major area destinations. The existing professional tenant mix includes legal, engineering, technology, and healthcare businesses. C-2 (Commercial) zoning supports the property's commercial office classification.
Located at 2600 Van Buren St in Norman, Oklahoma, the property occupies approximately 1.23 acres and offers access to I-35, Highway 9, and major area destinations. The existing professional tenant mix includes legal, engineering, technology, and healthcare businesses. C-2 (Commercial) zoning supports the property's commercial office classification.
Key Highlights
- 29,750 SF multi‑tenant office building completed in 1986
- Open atrium with glass elevator and abundant natural light
- 69 on‑site parking spaces
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
$252,312
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
6.31%
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%
$5,046,240
$5.0M
Cap Rate 7%
$3,604,457
$3.6M
Cap Rate 9%
$2,803,467
$2.8M
Market Conditions
NOI Build-Up for 29,750 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
$453.4K $15.24/SF
− Vacancy
−$117.0K −$3.93/SF
EGI
$336.4K $11.31/SF
− OpEx
−$84.1K −$2.83/SF
NOI
$252.3K $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%
$5,046,240
Cap Rate 7%
$3,604,457
Cap Rate 9%
$2,803,467
Alternative Uses
Best Use
Office B
$3.60M
$3.15M – $4.21M
NOI $252,312 @ 7.0% cap · market cap 6.31%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$5.14M
$4.50M – $6.00M
NOI $359,856 @ 7.0% cap · market cap 9.00%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
373
Businesses Nearby
Explore this area
Business Placement
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 Office in South region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Office building - Multi-tenant office property with a glass elevator, natural light, and C-2 commercial zoning.
Where is this office building located?
The property is located at 2600 Van Buren St Norman, OK.
What is the asking price?
The asking price for this property is $4,000,000.
What are key features of this property?
This property features: 29,750 SF multi‑tenant office building completed in 1986; Open atrium with glass elevator and abundant natural light; 69 on‑site parking spaces
