Add Listing
    For Lease
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    Back to Search
    Retail Building with Redevelopment Potential Title is generated by Realmo AI

    932 N Flood Ave, Norman, OK 73069

    View on Map
    Claim this Listing
    Loading data...
    Loading data...
    Loading data...
    For Lease
    Contact for pricing

    Three-unit retail building with redevelopment potential for sale or lease.

    Type:Retail, Office
    Property size:
    2,772 SF
    Added:
    Oct 11, 2022
    Days on Market:
    1312
    Last Refresh:
    Mar 17 at 1:18 pm

    Property Features for 932 N Flood Ave

    General Information

    Standard status
    Active
    Size
    2,772 SF
    Property subtype
    Retail, Office

    Spaces For Lease

    at 932 N Flood Ave Contact us

    Space 930 $16 /Mo

    Size
    Type
    Retail, Office
    Contact us

    We can help!

    Listing Contact
    Gayla Artman

    Listing agent Gayla Artman License #OK 079819

    Listing office Equity Commercial Realty Advisors, LLC

    Listing date Oct 11, 2022

    Source Crexi

    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

    HighLights

    • 2,772 SF available in Unit 830, perfect for your business.
    • Suitable for retail or office use.
    • Enjoy the enclosed patio in the rear.
    • Additional parking available for customers and staff.
    • Undeveloped land in the rear that is cross fenced.
    • Units 926 & 932 currently occupied.

    Overview

    This three-unit retail building offers a versatile opportunity for sale or lease. Unit 830 features 2,772 square feet of available space. Previously utilized as a retail store, the space is also suitable for office use. The property includes an enclosed patio at the rear, providing additional parking. Undeveloped land is present at the rear of the site, which is cross fenced. Units 926 and 932 are currently occupied.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Kari A. Scott, LPC Counselor Brown Christopher Counselor Sassy Sister’s Gourmet ... Specialty Food Shop Jeremy Elledge Counselor CM Bling (Bike/Boat/Book/etc) Store

    Suggested Use

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

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

    Location Insight

    • Map
    • Local Demand
    City
    Norman
    County
    Cleveland
    State
    Oklahoma
    Longitude
    -97.4535159
    Latitude
    35.2046291

    Nearby Similar for Lease

    • $1,552/Mo

      Modern Warehouse with Office Space

      Modern warehouse with office, built in 2020, in Norman.
      1820 W Tecumseh Road, Norman, OK 73069
      View Details
    • $1,552/Mo

      Modern Warehouse Built in 2020

      Modern warehouse with office, accessible bathroom, and garage space.
      1800 W Tecumseh Road, Norman, OK 73069
      View Details
    • Contact for pricing

      Grocery-Anchored Retail Space Available

      Retail space in Norman, OK, with strong co-tenancy.
      1209-1249 E Alameda St, Norman, OK 73071
      View Details
    • $20 SF/Yr

      Retail Space Near OU Campus

      Retail space available near the University of Oklahoma campus.
      Norman, OK 73072
      View Details
    • $24 SF/Yr

      Medical Office Space Available

      High-visibility medical office space with connectivity in Norman, Oklahoma.
      3501 24th Avenue Northwest, Norman, OK, 73069
      View Details
    • $8 SF/Yr

      Norman Retail Space For Lease

      6,412 SF suite ideal for retail or service businesses.
      1024 N Flood Ave, Norman, OK
      View Details
    • $18 SF/Yr

      Norman Retail Space For Rent

      Retail space available in Norman with strong co-tenancy.
      1209-1249 Alameda St , Norman, OK
      View Details
    • $33 SF/Yr

      Norman, OK Retail Space Available

      Retail space available near the University of Oklahoma.
      1300 West Lindsey Street, Norman, OK, 73069
      View Details
    • $32 SF/Yr

      Retail Space Near University

      Retail property located near the University of Oklahoma.
      1150 West Lindsey Street, Norman, OK, 73069
      View Details
    • $16 SF/Yr

      Modern Office/Warehouse Space Available

      Newly constructed office/warehouse with flexible layouts and ample parking.
      4701 W Main St, Norman, OK
      View Details
    • $12 SF/Yr

      Norman Retail Space For Lease

      Retail property with high visibility and pylon signage available.
      2224-2300 W. Main Street, Norman, OK 73069
      View Details
    • $17 SF/Yr

      Retail Space in Walmart Shadow

      Retail space available in a Walmart shadow center.
      851-867 12th Avenue NE, Norman, OK 73071
      View Details

    FAQs

    What type of property is this?
    Retail space - Three-unit retail building with redevelopment potential for sale or lease.
    Where is this retail space located?
    The property is located at 932 N Flood Ave Norman, OK.
    What are key features of this property?
    This property features: 2,772 SF available in Unit 830, perfect for your business.; Suitable for retail or office use.; Enjoy the enclosed patio in the rear.
    We can help!
    Contact for Pricing
    Please call us for current price
    and status of this listing
    Gayla Artman
    Real Estate License ID: OK 079819
    Learn More
    Request Owner's contact information
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    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.

    More about this property
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    Thank You for Inquiry
    932 N Flood Ave, Norman, OK 73069
    letter with green check mark
    Check your email
    We sent you the
    agent's contact details. yellow underline
    Can't find it?
    Please check your junk/spam folder.
    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!