Two-Story Multi-Tenant Office
707 24th Ave SW Norman, OK 73069
707 24th Ave SW, Norman, OK, 73069
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For Sale
Contact for pricing
Suite 202 offers shell space with an available build-to-suit floorplan option in a maintained multi-tenant office building.
Property Size13,636 SF
Price / SF$117.34
Days on Market79
Property Features for 707 24th Ave SW
General Information
- Standard status
- Active
- Size
- 13,636 SF
- Property subtype
- Office
Building Details
- Year Built
- 1981
Listing agency
Equity Commercial Realty Advisors, LLC
(405) 826-7975
Listed by
Gayla Artman · License #OK 079819
Source
Crexi
Added: May 5 Updated: Jul 22 at 2:00AM Checked: Jul 22 at 2:00AM
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 Equity Commercial Realty Advisors, LLC
Investment Insights
Based on property information with market context.
Suite 202 is available for lease or sale as shell space with 1,575 square feet, and floorplans are available for a build-to-suit layout. The property is a well maintained, two-story, multi-tenant office building featuring common enclosed staircases, two public restrooms, and an elevator. The building has a secured entry foyer with a vaulted ceiling, exposed standing seam metal roof, double entry doors, and glass frontage. The elevator and staircase are located off the foyer, and the building is supported by a monitored security system and an inground sprinkler system.
The building is positioned at the corner of Westpark and 24th Avenue SW, just south of W. Main Street. On-site parking includes 71 striped spaces, including two handicap spaces. The property also features landscaping with outdoor lighting.
The suite configuration supports tenant customization through the available build-to-suit floorplans, while maintaining shared building amenities such as restrooms, elevator service, and common enclosed stair access.
The building is positioned at the corner of Westpark and 24th Avenue SW, just south of W. Main Street. On-site parking includes 71 striped spaces, including two handicap spaces. The property also features landscaping with outdoor lighting.
The suite configuration supports tenant customization through the available build-to-suit floorplans, while maintaining shared building amenities such as restrooms, elevator service, and common enclosed stair access.
Key Highlights
- Suite 202 available for lease with 1,575 SF of shell space with a build‑to‑suit floorplan option
- Two‑story, multi‑tenant office building with a mix of dental and general office tenants
- Common area features enclosed staircases, two public restrooms, and an elevator
Local Financial Insights For Healthcare Medical
Simulate Cap Rate and NOI
NOI Build-Up
- 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.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $260.2k | $19.08 |
| − Vacancy | −$23.9k | −$1.76 |
| EGI | $236.2k | $17.32 |
| − OpEx | −$94.5k | −$6.93 |
| NOI | $141.7k | $10.39 |
13,636 SF · lease $19.08/SF/yr · vacancy 9.20% · expense 40.00%
Alternative Uses
Best Use
Healthcare Medical
$2.02M
$1.77M – $2.36M
NOI $141,743 @ 7.0% cap · market cap 8.86%
Second Best
Office B
$1.65M
$1.45M – $1.93M
NOI $115,648 @ 7.0% cap · market cap 7.23%
Theoretical Best
Specialty Retail
$2.36M
$2.06M – $2.75M
NOI $164,941 @ 7.0% cap · market cap 10.31%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Location Intelligence
Current Use by Public Records
Wandro Dental of Norman
Dental Office
Endodontic Practice Associates
Dental Office
Dr. John T. ...
Dental Office
Dr. James B. ...
Dental Office
Dr. Percy G. ...
Dental Office
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FAQs
What type of property is this?
Office units - Suite 202 offers shell space with an available build-to-suit floorplan option in a maintained multi-tenant office building.
Where is this office units located?
The property is located at 707 24th Ave SW Norman, OK.
What is the asking price?
The asking price for this property is $1,600,000.
What are key features of this property?
This property features: Suite 202 available for lease with 1,575 SF of shell space with a build‑to‑suit floorplan option; Two‑story, multi‑tenant office building with a mix of dental and general office tenants; Common area features enclosed staircases, two public restrooms, and an elevator
