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    320 12Th Ave Norman, OK 73071

    For Sale
    $4,500,000

    Exceptional commercial land, ideal for development.

    Description

    Added:
    Dec 11, 2024
    Days on Market:
    362
    This exceptional 4.4-acre commercial land parcel in Norman, Oklahoma, presents a unique investment opportunity. Located at 320-334 12th Ave SE, 73071, this property is strategically situated between a fully leased office building and a fully leased retail strip center, offering significant potential for future development. The asking price is $4,500,000, which includes the entire 4.4 acres. Currently, the land generates a 7.5% cap rate based on the income from the adjacent properties. This translates to approximately $375,000 in land value for future development, or roughly $3.57 per square foot. The property is listed as 13,833 square feet, and it's important to note that this parcel cannot be subdivided. This prime location in Cleveland County offers excellent visibility and accessibility, making it an attractive proposition for a variety of commercial ventures. The property's strategic positioning between established businesses ensures a high-traffic area, further enhancing its investment appeal. This is a rare opportunity to acquire a significant land holding in a thriving Oklahoma market. Don't miss this chance to secure a valuable asset with substantial growth potential.

    Property Features for 320 12Th Ave

    General Information

    Property type
    Land
    Lot Size
    191,664 SF

    HighLights

    • 13,833 SF of fully leased space encompassing both office and retail components.
    • Fully leased office building and retail strip center on a single parcel.
    • 4.4‑acre site.
    • $4,500,000 purchase price, inclusive of excess land.
    • 7.5% cap rate based on current income from both the office and retail components.
    • $375,000 land value for future development, approximately $3.57/SF.
    Property Profile Location Intelligence

    Current Use by Public Records

    Fantasy Chinese Cuisine Chinese Restaurant Firehouse Subs Crimson ... Caterer Children's Recovery Center Mental Health Service Kearns Lauri J ... Psychiatrist LibertyX Bitcoin ATM Atm

    Suggested Use

    Restaurant Realty agency Law Firm Building Supply Spa & Massage Dental Office Wholesale Shop Auto Repair Shop Hair Salon Clothing Store

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

    Location Insight

    • Map
    • Local Demand
    City
    Norman
    County
    Cleveland
    State
    Oklahoma
    Longitude
    -97.4241648
    Latitude
    35.2149176

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    FAQs

    What type of property is this?
    Land - Exceptional commercial land, ideal for development.
    Where is this land located?
    The property is located at 320 12Th Ave Norman, OK.
    What is the asking price?
    The asking price for this property is $4,500,000.
    What are key features of this property?
    This property features: 13,833 SF of fully leased space encompassing both office and retail components.; Fully leased office building and retail strip center on a single parcel.; 4.4-acre site.
    (405) 473-9721
    Request Owner's contact information
    320 12Th Ave Norman, OK 73071
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    Norman, OK 73071
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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
    320 12Th Ave Norman, OK 73071
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