Office Suite with Open
For Sale
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480 NW 24th Avenue 268-272, Norman, OK 73069
Professional office suite combining private rooms, collaborative workspace, and shared restroom access in a Norman commercial center.
Property Size4,200 SF
Price / SF$1.63
Days on Market78
Property Features for 480 NW 24th Avenue 268-272
General Information
Standard status
Active
Size
4,200 SF
Building Details
Year Built
2010
Listing Agency:
Brick and Beam Realty
Listed By:
Chris Johnson · License #200452
(903) 583-8538
Source:
Sarahflemingestates
Added: Jul 31
Changed: Oct 13
Last Checked: Oct 7 at 3:25PM
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
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Investment Insights
Based on property information with market context.
Suite 268–272 contains 4,200 SF of office space within Madison Square, with a layout that balances individual work areas and shared operations. The suite includes three private offices and one open workspace area, along with access to shared restrooms serving the upstairs area. Built in 2010, the property is positioned in a high-traffic commercial center in NW Norman with access to the surrounding area.
Key Highlights
- 4,200 SF office suite in Suite 268–272
- Three private offices plus one open workspace area
- Shared restroom access with the upstairs area
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$35,620
Suggested Prices Based on Cap Rates
Cap Rate 5%
$712,400
$712.4K
Cap Rate 7%
$508,857
$508.9K
Cap Rate 9%
$395,778
$395.8K
Market Conditions
NOI Build-Up for 4,200 SF
Gross rent
$64.0K $15.24/SF
− Vacancy
−$16.5K −$3.93/SF
EGI
$47.5K $11.31/SF
− OpEx
−$11.9K −$2.83/SF
NOI
$35.6K $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%
$712,400
Cap Rate 7%
$508,857
Cap Rate 9%
$395,778
Alternative Uses
Best Use
Office B
$508.9K
$445.3K – $593.7K
NOI $35,620 @ 7.0% cap · market cap 521.90%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$725.8K
$635.0K – $846.7K
NOI $50,803 @ 7.0% cap · market cap 744.37%
Zoning and permitted uses should be independently verified with authorities.
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Property Analytics
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Current Use
Location Intelligence
Trade Area within ½ mile
1,243
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 units - Professional office suite combining private rooms, collaborative workspace, and shared restroom access in a Norman commercial center.
Where is this office units located?
The property is located at 480 NW 24th Avenue 268-272 Norman, OK.
What are key features of this property?
This property features: 4,200 SF office suite in Suite 268–272; Three private offices plus one open workspace area; Shared restroom access with the upstairs area
