Multi-Tenant Medical Office
For Sale
Contact for pricing
701 East Robinson Street, Norman, OK 73071
Multi-tenant medical office facility with a shared entrance and common areas, built in 2003.
Property Size15,492 SF
Price / SF$165
Days on Market79
Property Features for 701 East Robinson Street
General Information
Standard status
Active
Size
15,492 SF
Property subtype
Retail, Office, Mixed Use
Building Details
Year Built
2003
Tenancy
Multi
Listing Agency:
ROI Real Estate LLC
Listed By:
Isaac Christian · License #OK
Source:
Crexi
Added: Jul 21
Changed: Sep 13
Last Checked: Oct 7 at 12:36PM
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 ROI Real Estate LLC
Investment Insights
Based on property information with market context.
701 E Robinson St is a multi-tenant medical office facility designed to support a variety of healthcare-related uses. The building includes a shared entrance and common areas, creating a straightforward setup for medical practices that benefit from shared access.
The property is positioned along a well-traveled east-west corridor in Norman, Oklahoma, with convenient access to Norman Regional Hospital. It is also surrounded by other medical practices, restaurants, and neighborhood services, supporting a consistent local demand base.
Built in 2003, the facility offers 15,492 SF for medical office occupancy and related business needs within the Oklahoma City metropolitan area.
The property is positioned along a well-traveled east-west corridor in Norman, Oklahoma, with convenient access to Norman Regional Hospital. It is also surrounded by other medical practices, restaurants, and neighborhood services, supporting a consistent local demand base.
Built in 2003, the facility offers 15,492 SF for medical office occupancy and related business needs within the Oklahoma City metropolitan area.
Key Highlights
- Multi‑tenant medical office facility with shared entrance and common areas
- Convenient access to Norman Regional Hospital and surrounding medical practices
- Built in 2003
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$161,036
Cap Rate
6.30%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$3,220,720
$3.2M
Cap Rate 7%
$2,300,514
$2.3M
Cap Rate 9%
$1,789,289
$1.8M
Market Conditions
NOI Build-Up for 15,492 SF
Gross rent
$295.6K $19.08/SF
− Vacancy
−$27.2K −$1.76/SF
EGI
$268.4K $17.32/SF
− OpEx
−$107.4K −$6.93/SF
NOI
$161.0K $10.39/SF
Area
Norman, OK
Vacancy
9.20%
Lease Rate
$19.08 /SF/Yr
Expense Ratio
40.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$3,220,720
Cap Rate 7%
$2,300,514
Cap Rate 9%
$1,789,289
Alternative Uses
Best Use
Healthcare Medical
$2.30M
$2.01M – $2.68M
NOI $161,036 @ 7.0% cap · market cap 6.30%
Second Best
Office B
$1.88M
$1.64M – $2.19M
NOI $131,389 @ 7.0% cap · market cap 5.14%
Theoretical Best
Specialty Retail
$2.68M
$2.34M – $3.12M
NOI $187,391 @ 7.0% cap · market cap 7.33%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
867
Businesses Nearby
Balanced
Demand for This Use
Explore this area
Business Placement
Demographics for 73071, OK
43,379
Population
19,192
Households
2.3
Avg Household Size
31
Median Age
42%
College-Educated
94%
High-School Grad
23.3 sq mi
ZIP Area
1,862
Density / Sq Mi
$59,258
Median Household Income
$32,830
Median Earnings
$1,059
Median Rent
$206,600
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
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Frequently Asked Questions
What type of property is this?
Medical Office Space - Multi-tenant medical office facility with a shared entrance and common areas, built in 2003.
Where is this medical office space located?
The property is located at 701 East Robinson Street Norman, OK.
What is the asking price?
The asking price for this property is $2,556,180.
What are key features of this property?
This property features: Multi‑tenant medical office facility with shared entrance and common areas; Convenient access to Norman Regional Hospital and surrounding medical practices; Built in 2003
