Campus-Adjacent Multifamily
436-434 Park Dr, Norman, OK 73069
For Sale
$729,000
Pending
The 0.38-acre parcel has an existing multifamily configuration near Campus Corner and the University of Oklahoma.
Property Size4,800 SF
Lot Size0.38 Acres
Days on Market24
Property Features for 436-434 Park Dr
General Information
Standard status
Size
Lot size
Property subtype
Site & Location
Neighborhood
Road Access
Additional Details
Land Use
Listing Agency:
Engel and Volkers Oklahoma City
(405) 437-4827
Listed By:
Adam Dye · License OK #205759
(405) 306-9124
Source:
Exprealty
Added: Oct 21
Changed: Nov 12
Last Checked: Nov 12 at 2:24PM
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 Engel and Volkers Oklahoma City
Ask AI about this property
Review the available facts, identify missing information and prepare questions for the agent.
Investment Insights
Based on property information with market context.
An existing multifamily property occupies a 0.38-acre parcel at 436-434 Park Dr in Norman. Its current configuration is multifamily, and the site may also be evaluated for redevelopment, subject to buyer due diligence on zoning, permitted uses, development standards, utilities, and related requirements.
Campus Corner and the University of Oklahoma are a short walk away. The property is next to the Noun Hotel, placing it within the university-area setting described for this Park Drive location.
Campus Corner and the University of Oklahoma are a short walk away. The property is next to the Noun Hotel, placing it within the university-area setting described for this Park Drive location.
Key Highlights
- 0.38‑acre parcel
- Existing multifamily configuration
- Located on Park Dr in Norman
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$39,988
Cap Rate
5.49%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$799,760
$799.8K
Cap Rate 7%
$571,257
$571.3K
Cap Rate 9%
$444,311
$444.3K
Market Conditions
NOI Build-Up for 4,800 SF
Gross rent
$77.8K $16.20/SF
− Vacancy
−$5.1K −$1.05/SF
EGI
$72.7K $15.15/SF
− OpEx
−$32.7K −$6.82/SF
NOI
$40.0K $8.33/SF
Area
Norman, OK
Vacancy
6.50%
Lease Rate
$16.20 /SF/Yr
Expense Ratio
45.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$799,760
Cap Rate 7%
$571,257
Cap Rate 9%
$444,311
Alternative Uses
Best Use
Apartment 5plus
$571.3K
$499.9K – $666.5K
NOI $39,988 @ 7.0% cap · market cap 5.49%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$829.4K
$725.8K – $967.7K
NOI $58,061 @ 7.0% cap · market cap 7.96%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Lease Details
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
1,994
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 Multifamily properties in Cleveland County, OK
Properties on Market for Multifamily properties in Cleveland County
Vacancy Rate% for Multifamily in South region
Frequently Asked Questions
What type of property is this?
Multifamily property - The 0.38-acre parcel has an existing multifamily configuration near Campus Corner and the University of Oklahoma.
Where is this multifamily property located?
The property is located at 436-434 Park Dr Norman, OK.
What is the asking price?
The asking price for this property is $729,000.
What are key features of this property?
This property features: 0.38‑acre parcel; Existing multifamily configuration; Located on Park Dr in Norman
