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    2420-2536 Classen Blvd Norman, OK 73071

    For Sale
    $4,200,000

    7.67 Acres, Prime Norman Location

    Property size:
    1 SF

    Description

    Added:
    Dec 11, 2024
    Days on Market:
    362
    This exceptional 7.67-acre commercial land parcel presents a unique investment opportunity in Norman, Oklahoma. Located at 2420-2536 Classen Blvd, this C-2 zoned property boasts excellent visibility and frontage on Classen Boulevard, just north of Highway 9 and with easy access to I-35. Its prime location neighbors the University of Oklahoma, benefiting from a large student population (over 28,000 in Fall 2023) and projected significant enrollment growth (20-30% annually). The property's proximity to the University, along with surrounding businesses such as 7-Eleven, Walmart, the Jimmy Austin OU Golf Club, OU's Research Campus, and the National Weather Center, ensures high traffic and visibility. Norman's thriving community and projected population growth to over 150,000 by 2030 further enhance the investment potential. Built in 1983, this site offers substantial development possibilities, situated conveniently north of E. Constitution Street, with the Jimmy Austin OU Golf Club to the west and Classen Blvd to the east. The asking price is $4,200,000. This is an unparalleled chance to capitalize on Norman's robust economic growth and the University of Oklahoma's expanding presence.

    Property Features for 2420-2536 Classen Blvd

    General Information

    Property type
    Multifamily properties
    Square Feet
    1 SF
    Lot Size
    334,105 SF

    Building Details

    Year Built
    1983

    HighLights

    • $4,200,000 asking price for 7.67 acres of commercial land.
    • Prime development land adjacent to the University of Oklahoma (28,000+ students).
    • Excellent visibility and frontage on Classen Blvd, near Hwy 9 and I‑35.
    • Thriving Norman location with significant projected economic growth, fueled by OU's expansion.
    • Norman's population projected to exceed 150,000 by 2030, with substantial student enrollment increases anticipated at OU.
    • Strategic location near E. Constitution St, Jimmy Austin OU Golf Club, and Classen Blvd.
    Property Profile Location Intelligence

    Current Use by Public Records

    Commercial real estate

    Suggested Use

    Realty agency Restaurant Law Firm Spa & Massage Hair Salon Nail Salon Building Supply Clothing Store Auto Repair Shop Gym & Fitness

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

    Location Insight

    • Map
    • Local Demand
    City
    Norman
    County
    Cleveland
    State
    Oklahoma
    Longitude
    -97.4264112
    Latitude
    35.195134

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    FAQs

    What type of property is this?
    Multifamily property - 7.67 Acres, Prime Norman Location
    Where is this multifamily property located?
    The property is located at 2420-2536 Classen Blvd Norman, OK.
    What is the asking price?
    The asking price for this property is $4,200,000.
    What are key features of this property?
    This property features: $4,200,000 asking price for 7.67 acres of commercial land.; Prime development land adjacent to the University of Oklahoma (28,000+ students).; Excellent visibility and frontage on Classen Blvd, near Hwy 9 and I-35.
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    Realmo Value Estimation

    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.

    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.

    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
    2420-2536 Classen Blvd Norman, OK 73071
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