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Norman OK Retail Investment Opportunity

831 Sonoma Park Dr Norman Norman, OK 73071

831 Sonoma Park Dr Norman, Norman, OK, 73071

$2,800,000

For Sale

$2,800,000

23,800 SF retail building in Norman, Oklahoma for sale.

Property Size23,800 SF

Price / SF$117.65

AddedSep 25, 2025

Days on Market293

Last RefreshMay 8 at 10:55 pm

Property Features for 831 Sonoma Park Dr Norman

General Information

Standard status: Active
Size: 23,800 SF
Property subtype: Retail

Building Details

Year Built: 2018

Listing office

Listing date Sep 25, 2025

Source Tcnworldwide

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 Ev Ernst

Investment Insights

Based on property information with market context.

Located in Norman, Oklahoma, this 23,800 SF free-standing building presents an investment opportunity. Constructed in 2018, the property offers a modern, purpose-built space suited for retail businesses. The location provides high visibility and accessibility. The surrounding area is near the University of Oklahoma, offering foot traffic and a diverse customer base. Nearby attractions include the Firehouse Art Center, Main Street shopping district, and the Norman Arts District.

Key Highlights

High‑visibility location in Norman, Oklahoma, near the University of Oklahoma, ensuring a steady stream of foot traffic.
Modern, purpose‑built 23,800 SF free‑standing building constructed in 2018, offering contemporary design.
Ample space for customized retail layouts, providing flexibility.

Local Financial Insights For Retail

Simulate Cap Rate and NOI

NOI Build-Up

Component	$	$/SF
Gross rent	$357.0k	$15.00
− Vacancy	−$17.9k	−$0.75
EGI	$339.2k	$14.25
− OpEx	−$101.7k	−$4.27
NOI	$237.4k	$9.98

23,800 SF · lease $15.00/SF/yr · vacancy 5.00% · expense 30.00%

Alternative Uses

Best Use

Retail

$3.39M

$2.97M – $3.96M (±1% cap)

NOI $237,405 @ 7.0% cap · market cap 8.48%

Second Best

—

no second resolved use

Theoretical Best

Specialty Retail

$4.11M

$3.60M – $4.80M (±1% cap)

NOI $287,885 @ 7.0% cap · market cap 10.28%

Zoning and permitted uses should be independently verified with local authorities.

Property Analytics

Property Profile Location Intelligence

Current Use by Public Records

American Freight - Furniture, ... Furniture & Home Goods

Suggested Use

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For sale
Retail properties & Spaces
OK
Norman
73071
831 Sonoma Park Dr

What type of property is this?

Retail property - 23,800 SF retail building in Norman, Oklahoma for sale.

Where is this retail property located?

The property is located at 831 Sonoma Park Dr Norman Norman, OK.

What is the asking price?

The asking price for this property is $2,800,000.

What are key features of this property?

This property features: High‑visibility location in Norman, Oklahoma, near the University of Oklahoma, ensuring a steady stream of foot traffic.; Modern, purpose‑built 23,800 SF free‑standing building constructed in 2018, offering contemporary design.; Ample space for customized retail layouts, providing flexibility.