4-Suite Medical
New
For Sale
Contact for pricing
620-650 24th Ave SW, Norman, OK 73069
Four suites offer floor plans that can be adapted for a range of medical specialties.
Property Size18,702 SF
Days on Market3
Property Features for 620-650 24th Ave SW
General Information
Standard status
Active
Size
18,702 SF
Class
B
Property subtype
Office
Lease Term
MG
Additional Details
Office Units
4
Building Details
Building Size
18,702 SF
Year Built
2001
Tenancy
Multi
Properties For Sale
at 620-650 24th Ave SW
Suite 200
Size
2,181 SF
Term
Negotiable
Listing Agency:
Creek Commercial Realty, LLC
Listed By:
Tyler Huxley
(405) 973-8435
Source:
Tcnworldwide
Added: Oct 14
Changed: Oct 15
Last Checked: Oct 16 at 7:18AM
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 Creek Commercial Realty, LLC
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.
This medical office property in Norman, Oklahoma, contains four suites intended for medical practices. The floor plans can be modified to accommodate different specialties. The building was constructed in 2001 and is located at 620-650 24th Ave SW.
Key Highlights
- Four‑suite medical office center
- Floor plans can be modified for different medical specialties
- Built in 2001
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$158,613
Suggested Prices Based on Cap Rates
Cap Rate 5%
$3,172,260
$3.2M
Cap Rate 7%
$2,265,900
$2.3M
Cap Rate 9%
$1,762,367
$1.8M
Market Conditions
NOI Build-Up for 18,702 SF
Gross rent
$285.0K $15.24/SF
− Vacancy
−$73.5K −$3.93/SF
EGI
$211.5K $11.31/SF
− OpEx
−$52.9K −$2.83/SF
NOI
$158.6K $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%
$3,172,260
Cap Rate 7%
$2,265,900
Cap Rate 9%
$1,762,367
Alternative Uses
Best Use
Healthcare Medical
$2.78M
$2.43M – $3.24M
NOI $194,403 @ 7.0% cap · market cap 1,944,030.00%
Second Best
Office B
$2.27M
$1.98M – $2.64M
NOI $158,613 @ 7.0% cap · market cap 1,586,130.00%
Theoretical Best
Specialty Retail
$3.23M
$2.83M – $3.77M
NOI $226,219 @ 7.0% cap · market cap 2,262,190.00%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Current Use
Lease Details
4
Office units
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
909
Businesses Nearby
Well-served
Demand for This Use
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
Similar Off Market Nearby
- Park Lane Veterinary Hospital — 1525 24th Ave SW, Norman, OK 73072
- McGee Street Animal Hospital — 1140 McGee Dr, Norman, OK 73069
- White Becca DVM — 1140 mcgee dr, norman, ok 73069
- Dr. Carley Cunningham — 660 Ed Noble Pkwy, Norman, OK 73072
- Banfield Pet Hospital — 660 Ed Noble Pkwy, Norman, OK 73072
Frequently Asked Questions
What type of property is this?
Medical Office Space - Four suites offer floor plans that can be adapted for a range of medical specialties.
Where is this medical office space located?
The property is located at 620-650 24th Ave SW Norman, OK.
What are key features of this property?
This property features: Four‑suite medical office center; Floor plans can be modified for different medical specialties; Built in 2001
