Renovated Corner Office
401 W Main St Unit 380, Norman, OK 73069
For Sale
Contact for pricing
Third-floor workspace offers multiple private offices, a conference room, and open area near the elevators.
Property Size2,370 SF
Price / SF$1.33
Days on Market62
Property Features for 401 W Main St Unit 380
General Information
Standard status
Size
Elevators
Site & Location
Neighborhood
Additional Details
Floor
Building Details
Year Built
Listing Agency:
Richard Jennings Real Estate
Listed By:
Richard Jennings · License #171330
(405) 669-6710
Source:
Alloverok
Added: Sep 9
Changed: Oct 25
Last Checked: Oct 7 at 2:14PM
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.
The approximately 2,370-square-foot office suite occupies a corner position on the third floor of the Armstrong Bank building. Recently renovated, the space includes 7–8 offices, a large corner conference room, and additional open area for flexible workplace configuration. The suite is positioned just off the elevators, providing convenient access within the building.
The property is located at 401 W Main St Unit 380 in Downtown Norman, Oklahoma. The building dates to 1968 and includes utilities, taxes, and insurance within the stated full-service structure. A floor plan is available to illustrate the suite’s arrangement.
The property is located at 401 W Main St Unit 380 in Downtown Norman, Oklahoma. The building dates to 1968 and includes utilities, taxes, and insurance within the stated full-service structure. A floor plan is available to illustrate the suite’s arrangement.
Key Highlights
- Approximately 2,370 square feet on the 3rd floor
- 7‑8 offices plus a large corner conference room
- Recently renovated office suite
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
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
$212,400
Median Home Value
Market
Average Price Trend$/SF for Office Units in Norman, OK
Properties on Market for Office Units in Norman
Vacancy Rate% for Office in South region
Frequently Asked Questions
What type of property is this?
Office unit - Third-floor workspace offers multiple private offices, a conference room, and open area near the elevators.
Where is this office unit located?
The property is located at 401 W Main St Unit 380 Norman, OK.
What are key features of this property?
This property features: Approximately 2,370 square feet on the 3rd floor; 7‑8 offices plus a large corner conference room; Recently renovated office suite
