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 Market34
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: Aug 14
Last Checked: Aug 21 at 5:42AM
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 = 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
$161,036
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
6.30%
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%
$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
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
$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 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%
$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
Property Profile
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
Market
Vacancy Rate% for Office in South region
Questions? Ask Rey
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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
