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    Norman Office Building with Income Title is generated by Realmo AI

    901 Wall Street, Norman, OK 73069

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    Claim this Listing
    For Sale
    $1,250,000

    SINGLE_FAMILY - Norman, OK

    Type:Office
    Property size:
    5,031 SF
    Lot size:
    0.39 Acres
    Price / SF:
    $248/SF
    Added:
    Feb 16, 2026
    Days on Market:
    86
    Last Refresh:
    May 13 at 6:06 am

    Property Features for 901 Wall Street

    General Information

    Property type
    Residential
    Property subtype
    Office
    Zoning
    Commercial
    Standard status
    Active
    APN
    901NONEWall90973069
    Size
    5,031 SF
    Lot size
    0.39 Acres

    Utilities

    Sewer type
    Public Sewer
    Water source
    Public

    Building Details

    Year built
    2004
    Floors in Building
    2

    We can help!

    Listing Contact
    Chrystal Raprich
    Chrystal Raprich

    Listing agent Chrystal Raprich

    Listing office 828 Real Estate LLC 2107 W. Main Street, NORMAN, OK

    Listing date Feb 16, 2026

    MLS# 1214683

    Copyright © 2026 MLSOK, Inc. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.

    HighLights

    • Stable income from existing tenant in suite 901 with lease escalations through April 2029.
    • Vacant suite 909 offers immediate occupancy for owner‑user or additional rental income.
    • Located in an established Norman business area with high visibility and easy access to major roadways, retail, and services.
    • Functional office layout suitable for a variety of professional uses.
    • Convenient on‑site parking for clients and staff.
    • Built in 2004 with public water and sewer.

    Overview

    This two-suite commercial office building is located in an established business area of Norman, off 24th Ave SW, offering proximity to major roadways, retail, and services. The property provides a combination of stable income and future flexibility. Office suite 901 is currently occupied under a lease with annual rent escalations through April 2029, providing long-term cash flow. Office suite 909 is vacant and available for immediate occupancy, presenting an opportunity for an owner-user or for leasing to an additional tenant. The lease rate for office suite 909 is $19 per square foot. The property features a functional office layout suitable for a variety of professional uses, with convenient on-site parking and easy access. The building, situated on a 0.39-acre lot, contains 5,031 square feet of office space. This property is suitable for investors seeking partial occupancy income or owner-operators looking to offset expenses with an in-place tenant and is appealing to a variety of business types.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Office buildings

    Suggested Use

    Real Estate Agency Law Firm Restaurant Spa & Massage Center Dental Office Hair Salon Nail Salon Building Supply Auto Repair Shop Gym & Fitness Center

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

    Location Insight

    • Map
    • Local Demand
    City
    Norman
    County
    Cleveland
    State
    Oklahoma
    Longitude
    -97.481268
    Latitude
    35.229502

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    FAQs

    What type of property is this?
    Office building - Two-suite commercial office building with income and occupancy potential.
    Where is this office building located?
    The property is located at 901 Wall Street Norman, OK.
    What is the asking price?
    The asking price for this property is $1,250,000.
    What are key features of this property?
    This property features: Stable income from existing tenant in suite 901 with lease escalations through April 2029.; Vacant suite 909 offers immediate occupancy for owner‑user or additional rental income.; Located in an established Norman business area with high visibility and easy access to major roadways, retail, and services.
    (405) 590-5863
    We can help!
    Listing Contact
    Chrystal Raprich
    Chrystal Raprich
    Learn More
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    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

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