Renovated Corner Office
For Sale
Contact for pricing
380-401 W Main St, Norman, OK 73069
Recently updated third-floor office unit with multiple private rooms, a conference area, and adjoining open workspace.
Property Size2,370 SF
Price / SF$1.33
Days on Market60
Property Features for 380-401 W Main St
General Information
Standard status
Active
Size
2,370 SF
Elevators
Yes
Additional Details
Floor
3
Office Units
1
Listing Agency:
Richard Jennings Real Estate
Listed By:
Richard Jennings · License #171330
(405) 669-6710
Source:
Exprealty
Added: Aug 24
Changed: Oct 17
Last Checked: Oct 20 at 10:01PM
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
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Review the available facts, identify missing information and prepare questions for the agent.
Investment Insights
Based on property information with market context.
This approximately 2,370-square-foot office unit occupies a corner position on the third floor of the Armstrong Bank building. Recent renovations complement a layout with 7–8 private offices, a large corner conference room, and additional open area for flexible workspace. The suite is positioned near the building elevators for convenient internal access.
The property is located at 380-401 W Main St in Downtown Norman, OK. The office configuration combines enclosed rooms with shared open space, providing a practical setting for professional operations and meetings.
The property is located at 380-401 W Main St in Downtown Norman, OK. The office configuration combines enclosed rooms with shared open space, providing a practical setting for professional operations and meetings.
Key Highlights
- Approximately 2,370 square feet on the 3rd floor
- 7–8 private offices plus a large corner conference room
- Corner suite with additional open workspace
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$20,100
Suggested Prices Based on Cap Rates
Cap Rate 5%
$402,000
$402.0K
Cap Rate 7%
$287,143
$287.1K
Cap Rate 9%
$223,333
$223.3K
Market Conditions
NOI Build-Up for 2,370 SF
Gross rent
$36.1K $15.24/SF
− Vacancy
−$9.3K −$3.93/SF
EGI
$26.8K $11.31/SF
− OpEx
−$6.7K −$2.83/SF
NOI
$20.1K $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%
$402,000
Cap Rate 7%
$287,143
Cap Rate 9%
$223,333
Alternative Uses
Best Use
Office B
$287.1K
$251.3K – $335.0K
NOI $20,100 @ 7.0% cap · market cap 636.08%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$409.5K
$358.4K – $477.8K
NOI $28,668 @ 7.0% cap · market cap 907.22%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Current Use
Lease Details
1
Office units
Location Intelligence
Trade Area within ½ mile
2,078
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
Frequently Asked Questions
What type of property is this?
Office unit - Recently updated third-floor office unit with multiple private rooms, a conference area, and adjoining open workspace.
Where is this office unit located?
The property is located at 380-401 W Main St Norman, OK.
What are key features of this property?
This property features: Approximately 2,370 square feet on the 3rd floor; 7–8 private offices plus a large corner conference room; Corner suite with additional open workspace
