Remodeled Commercial Building For
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Contact for pricing
527 E MAIN ST, Norman, OK
Versatile, remodeled commercial building suitable for retail, restaurant, or office.
Property Size1,150 SF
Lot Size0.08 Acres
Price / SF$217.39
Days on Market466
Property Features for 527 E MAIN ST
General Information
Standard status
Active
Size
1,150 SF
Lot size
0.08 Acres
Property subtype
OFFICE
Listing Agency:
Johnson Commercial Group
(405) 435-3572
Listed By:
Chris Johnson · License #200452
(405) 435-3572
Source:
Moodyscre
Added: May 21, 2025
Changed: Aug 19
Last Checked: Aug 26 at 10:55AM
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 Johnson Commercial Group
Investment Insights
Based on property information with market context.
This versatile property, with a beautifully remodeled interior, is suitable for retail, restaurant, or office use. The 1,150 square-foot space has been renovated from the studs up, featuring new stucco, electrical, plumbing, and HVAC systems. The property includes private parking in the back and public parking in front of the building. A fenced backyard offers additional parking. The property is currently leased to a single tenant and is located at 527 E MAIN ST, Norman, OK.
Key Highlights
- Completely remodeled interior with new stucco, electrical, plumbing, and HVAC systems.
- Suitable for retail, restaurant, or office use.
- Private parking in the back and public parking in front.
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$11,471
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
4.59%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$229,420
$229.4K
Cap Rate 7%
$163,871
$163.9K
Cap Rate 9%
$127,456
$127.5K
Market Conditions
NOI Build-Up for 1,150 SF
Vacancy — income lost from leasable area expected to sit empty during the year, subtracted from gross rent.
EGI (Effective Gross Income) — gross rent minus vacancy losses, the realistic income before paying operating costs.
OpEx (Operating Expenses) — recurring costs to operate the property (property tax, insurance, utilities, maintenance, management); excludes financing and capital improvements.
NOI (Net Operating Income) — income a property generates after operating costs but before financing and taxes.
Gross rent
$17.3K $15.00/SF
− Vacancy
−$863 −$0.75/SF
EGI
$16.4K $14.25/SF
− OpEx
−$4.9K −$4.27/SF
NOI
$11.5K $9.98/SF
Area
Norman, OK
Vacancy
5.00%
Lease Rate
$15.00 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$229,420
Cap Rate 7%
$163,871
Cap Rate 9%
$127,456
Alternative Uses
Best Use
Retail
$163.9K
$143.4K – $191.2K
NOI $11,471 @ 7.0% cap · market cap 4.59%
Second Best
Office B
$139.3K
$121.9K – $162.6K
NOI $9,753 @ 7.0% cap · market cap 3.90%
Theoretical Best
Specialty Retail
$198.7K
$173.9K – $231.8K
NOI $13,910 @ 7.0% cap · market cap 5.56%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
1,986
Businesses Nearby
Explore this area
Business Placement
Market
Vacancy Rate% for Office in South region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Office units - Versatile, remodeled commercial building suitable for retail, restaurant, or office.
Where is this office units located?
The property is located at 527 E MAIN ST Norman, OK.
What is the asking price?
The asking price for this property is $250,000.
What are key features of this property?
This property features: Completely remodeled interior with new stucco, electrical, plumbing, and HVAC systems.; Suitable for retail, restaurant, or office use.; Private parking in the back and public parking in front.
