Remodeled Flex Space with
For Sale
Contact for pricing
912 26th Ave NW, Norman, OK 73069
Climate-controlled commercial space includes a kitchen, breakroom, reception area, and conference room.
Property Size2,400 SF
Price / SF$227.08
Days on Market427
Property Features for 912 26th Ave NW
General Information
Standard status
Active
Size
2,400 SF
Property subtype
OFFICE
Additional Details
Conditioned Warehouse
Yes
Amenities
Kitchen/Breakroom
Reception and Conference Room
Listing Agency:
Fleske Commercial Group
(405) 701-3505
Listed By:
Shonda Mobley · License #153109
(405) 625-7065
Source:
Moodyscre
Added: Jul 18, 2025
Changed: Sep 11
Last Checked: Sep 16 at 1:16PM
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 Fleske Commercial Group
Investment Insights
Based on property information with market context.
This recently remodeled 2,400-square-foot flex space property combines a climate-controlled warehouse or training room with a practical office configuration. The layout includes a kitchen and breakroom, reception area, conference room, overhead door, and four offices that could be subdivided.
Located at 912 26th Ave NW in Norman, Oklahoma, the property supports flexible commercial use through its blend of conditioned open space and enclosed offices. The existing configuration provides functional areas for administrative work, meetings, training, and warehouse-related operations.
Located at 912 26th Ave NW in Norman, Oklahoma, the property supports flexible commercial use through its blend of conditioned open space and enclosed offices. The existing configuration provides functional areas for administrative work, meetings, training, and warehouse-related operations.
Key Highlights
- Recently remodeled 2,400‑square‑foot flex space property
- Climate‑controlled warehouse or training room
- Four offices that could be subdivided
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
$20,355
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
3.73%
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%
$407,100
$407.1K
Cap Rate 7%
$290,786
$290.8K
Cap Rate 9%
$226,167
$226.2K
Market Conditions
NOI Build-Up for 2,400 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
$36.6K $15.24/SF
− Vacancy
−$9.4K −$3.93/SF
EGI
$27.1K $11.31/SF
− OpEx
−$6.8K −$2.83/SF
NOI
$20.4K $8.48/SF
Area
Norman, OK
Vacancy
25.80%
Lease Rate
$15.24 /SF/Yr
Expense Ratio
25.00%
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%
$407,100
Cap Rate 7%
$290,786
Cap Rate 9%
$226,167
Alternative Uses
Best Use
Office B
$290.8K
$254.4K – $339.3K
NOI $20,355 @ 7.0% cap · market cap 3.73%
Second Best
Warehouse
$246.5K
$215.7K – $287.6K
NOI $17,258 @ 7.0% cap · market cap 3.17%
Theoretical Best
Specialty Retail
$414.7K
$362.9K – $483.8K
NOI $29,030 @ 7.0% cap · market cap 5.33%
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
1,271
Businesses Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Demographics for 73069, OK
26,464
Population
12,719
Households
2.1
Avg Household Size
32
Median Age
45%
College-Educated
93%
High-School Grad
15.7 sq mi
ZIP Area
1,686
Density / Sq Mi
$55,699
Median Household Income
$34,151
Median Earnings
$1,031
Median Rent
$212,400
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Office in South region
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Similar Off Market Nearby
- El Chico Cafe Norman — Sooner Fashion Mall, 3439 W Main St, Norman, OK 73072
- Social Butterfly Catering Oklahoma — 550 24th Ave NW G, Norman, OK 73069
Frequently Asked Questions
What type of property is this?
Flex space - Climate-controlled commercial space includes a kitchen, breakroom, reception area, and conference room.
Where is this flex space located?
The property is located at 912 26th Ave NW Norman, OK.
What is the asking price?
The asking price for this property is $545,000.
What are key features of this property?
This property features: Recently remodeled 2,400‑square‑foot flex space property; Climate‑controlled warehouse or training room; Four offices that could be subdivided
