Renovated Flex
For Sale
$925,000
2845 Broce Dr, Norman, OK 73072
Two buildings combine office areas, warehouse components, and multiple suites for occupancy or lease-up.
Property Size10,250 SF
Price / SF$90.24
Days on Market85
Property Features for 2845 Broce Dr
General Information
Standard status
Active
Size
10,250 SF
Additional Details
Office Units
4
Building Details
Year Built
1982
Buildings
2
Listing Agency:
Brick and Beam Realty
Listed By:
Chris Johnson · License #200452
(903) 583-8538
Source:
Sarahflemingestates
Added: Jul 21
Changed: Sep 26
Last Checked: Oct 7 at 2:37PM
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 Brick and Beam Realty
Investment Insights
Based on property information with market context.
Renovated flex space at 2845 Broce Drive includes two buildings with a combined 10,250 SF. The property was built in 1982 and incorporates private offices, restrooms, kitchen areas, open common space, and warehouse components across its layout.
Unit A contains 2,600 SF and is currently leased. The remaining configuration includes Suite B with 3,650 SF, Suite C with 2,200 SF, and Suite D with 1,800 SF, providing a mix of occupied and available space within the property. The office and warehouse elements create a practical setting for businesses requiring both administrative areas and functional storage or work areas.
Unit A contains 2,600 SF and is currently leased. The remaining configuration includes Suite B with 3,650 SF, Suite C with 2,200 SF, and Suite D with 1,800 SF, providing a mix of occupied and available space within the property. The office and warehouse elements create a practical setting for businesses requiring both administrative areas and functional storage or work areas.
Key Highlights
- Two buildings totaling 10,250 SF
- Renovated office and warehouse configuration
- Unit A includes 2,600 SF and is currently leased
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$73,708
Cap Rate
7.97%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,474,160
$1.5M
Cap Rate 7%
$1,052,971
$1.1M
Cap Rate 9%
$818,978
$819.0K
Market Conditions
NOI Build-Up for 10,250 SF
Gross rent
$92.3K $9.00/SF
− Vacancy
−$5.5K −$0.54/SF
EGI
$86.7K $8.46/SF
− OpEx
−$13.0K −$1.27/SF
NOI
$73.7K $7.19/SF
Area
Norman, OK
Vacancy
6.00%
Lease Rate
$9.00 /SF/Yr
Expense Ratio
15.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,474,160
Cap Rate 7%
$1,052,971
Cap Rate 9%
$818,978
Alternative Uses
Best Use
Office B
$1.24M
$1.09M – $1.45M
NOI $86,931 @ 7.0% cap · market cap 9.40%
Second Best
Warehouse
$1.05M
$921.4K – $1.23M
NOI $73,708 @ 7.0% cap · market cap 7.97%
Theoretical Best
Specialty Retail
$1.77M
$1.55M – $2.07M
NOI $123,984 @ 7.0% cap · market cap 13.40%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
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Open Analytics
Current Use
Lease Details
4
Office units
Location Intelligence
Trade Area within ½ mile
696
Businesses Nearby
Under-served
Demand for This Use
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
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Office in South region
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Frequently Asked Questions
What type of property is this?
Flex space - Two buildings combine office areas, warehouse components, and multiple suites for occupancy or lease-up.
Where is this flex space located?
The property is located at 2845 Broce Dr Norman, OK.
What is the asking price?
The asking price for this property is $925,000.
What are key features of this property?
This property features: Two buildings totaling 10,250 SF; Renovated office and warehouse configuration; Unit A includes 2,600 SF and is currently leased
