Five-Office Commercial
For Sale
Contact for pricing
360 NW 24th Ave Unit 118, Norman, OK 73069
Reception, lounge, and privacy-separated offices create a functional setup for business operations.
Property Size10,860 SF
Price / SF$0.21
Days on Market49
Property Features for 360 NW 24th Ave Unit 118
General Information
Standard status
Active
Size
10,860 SF
Additional Details
Highway Access
Yes
Building Details
Year Built
2008
Listing Agency:
Rieger Realty LLC
Listed By:
Dana Rieger · License #149317
(405) 226-8080
Source:
Theokclife
Added: Sep 6
Changed: Oct 1
Last Checked: Oct 7 at 2:11PM
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 Rieger Realty LLC
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Investment Insights
Based on property information with market context.
This office unit at 360 NW 24th Ave includes a dedicated reception and front-desk area, a main lounge, and a privacy wall that separates the two spaces. The layout provides access to five private offices, supporting a work environment with distinct rooms for staff or business functions. The commercial center was built in 2008 and offers convenient access to I-35.
Unit 114 next door is also available. The two suites may be combined, creating a total of 2,920 square feet. The property is located in Norman, Oklahoma, within a commercial setting suited to office operations.
Unit 114 next door is also available. The two suites may be combined, creating a total of 2,920 square feet. The property is located in Norman, Oklahoma, within a commercial setting suited to office operations.
Key Highlights
- Five private office spaces within the suite
- Dedicated front desk and reception area
- Privacy wall separates reception from the main lounge
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$92,104
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,842,080
$1.8M
Cap Rate 7%
$1,315,771
$1.3M
Cap Rate 9%
$1,023,378
$1.0M
Market Conditions
NOI Build-Up for 10,860 SF
Gross rent
$165.5K $15.24/SF
− Vacancy
−$42.7K −$3.93/SF
EGI
$122.8K $11.31/SF
− OpEx
−$30.7K −$2.83/SF
NOI
$92.1K $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 Rate 5%
$1,842,080
Cap Rate 7%
$1,315,771
Cap Rate 9%
$1,023,378
Alternative Uses
Best Use
Office B
$1.32M
$1.15M – $1.54M
NOI $92,104 @ 7.0% cap · market cap 3,985.46%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$1.88M
$1.64M – $2.19M
NOI $131,363 @ 7.0% cap · market cap 5,684.25%
Zoning and permitted uses should be independently verified with authorities.
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Property Analytics
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Current Use
Lease Details
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
1,130
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
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Office in South region
Frequently Asked Questions
What type of property is this?
Office unit - Reception, lounge, and privacy-separated offices create a functional setup for business operations.
Where is this office unit located?
The property is located at 360 NW 24th Ave Unit 118 Norman, OK.
What are key features of this property?
This property features: Five private office spaces within the suite; Dedicated front desk and reception area; Privacy wall separates reception from the main lounge
