Add Listing
    For Sale
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    Back to Search
    12-Acre Land Parcel Near I-35 Title is generated by Realmo AI

    0 S Harvey Rd, Norman, OK

    View on Map
    Claim this Listing
    For Sale
    Contact for pricing

    12-acre parcel in Newcastle, visible from I-35, strong potential.

    Type:LAND
    Lot size:
    12.00 Acres
    Added:
    Aug 28, 2025
    Days on Market:
    279
    Last Refresh:
    May 19 at 10:32 pm

    Property Features for 0 S Harvey Rd

    General Information

    Standard status
    Active
    Lot size
    12.00 Acres
    Property subtype
    LAND

    We can help!

    Listing Contact
    Chris Johnson
    Chris Johnson

    Listing agent Chris Johnson License #200452

    Listing office Johnson Commercial Group

    Listing date Aug 28, 2025

    Source Moodyscre

    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 Johnson Commercial Group

    HighLights

    • High‑traffic location visible from I‑35 (63,000+ vehicles per day) and Highway 9 (24,000 VPD).
    • City of Newcastle is open to rezoning from industrial to CC2 (QSR, retail, or pad site use).
    • Located in a fast‑growing commercial corridor with ongoing development.
    • City water available; sewer extension plans in progress.
    • Positioned off a lighted intersection.
    • 12‑acre parcel with strong future potential.

    Overview

    This 12-acre parcel, located in the City of Newcastle but carrying a Norman address, is positioned just north of Riverwind Casino and is visible from I-35, which experiences over 63,000 vehicles per day. Additionally, Highway 9 sees 24,000 vehicles per day. The property is situated off a lighted intersection within a fast-growing corridor and is surrounded by ongoing commercial development. Currently zoned industrial, the City of Newcastle is open to rezoning to CC2, making it suitable for QSR, retail, or pad site use. City water is available, and sewer extension plans are in progress. The site is leased through December 31, 2025, offering strong future potential in a high-traffic location with limited remaining land options.
    Location Intelligence

    Current Use by Public Records

    Commercial land

    Map

    City
    Norman
    County
    Cleveland
    State
    Oklahoma
    Longitude
    -97.4422
    Latitude
    35.188

    Nearby Similar for Sale

    • $685,000
      7,400 SF

      Norman Flex Space with Warehouse

      Flex space with warehouse in Norman, near I-35.
      1831 Industrial Boulevard, Norman, OK 73069
      View Details
    • $1,150,000
      5,031 SF

      Norman Office Building with Income

      Two-suite commercial building with income and occupancy potential.
      901 Wall Street, Norman, OK 73069
      View Details
    • $600,000
      2,000 SF

      Fly-In Hangar Home Near Lake

      Private 5-acre hangar home with direct runway access near Lake
      9105 Charmee Sandee, Norman, OK 73026
      View Details
    • $240,000

      Norman Land Near Turnpike Project

      5 acre vacant lot near planned ACCESS Oklahoma Turnpike.
      8202 120th Avenue NE, Norman, OK 73026
      View Details
    • $550,000
      4,918 SF

      Well-Maintained Four-Unit Multifamily Property

      Four units, each with three bedrooms, two bathrooms, and garage.
      602 Welston Circle, Norman, OK 73071
      View Details
    • $899,000
      5,904 SF

      Norman Retail/Office Building For Sale

      Two-story commercial building in Norman's vibrant Arts District.
      218 E Main Street, Norman, OK 73069
      View Details
    • $2,250,000
      3,762 SF

      Multi-Family Near OU Campus

      Multi-family property near the University of Oklahoma campus.
      132 Page Street, Norman, OK 73069
      View Details
    • $539,900

      Versatile Land on Flood Avenue

      Half-acre lot near Main Street with mixed-use potential.
      128 S Flood Avenue, Norman, OK 73069
      View Details
    • $1,200,000
      3,488 SF

      Norman Multifamily Investment Near OU

      9-unit multifamily property near the University of Oklahoma campus.
      740 Deans Row Avenue, Norman, OK 73069
      View Details
    • $179,000
      1,152 SF

      Norman Land with Commercial Potential

      2.5 acres with commercial zoning and residential structure.
      17754 Uncle Bill Lane, Norman, OK 73026
      View Details
    • $285,000
      2,664 SF

      Townhome-Style Duplex Near OU

      Investment opportunity: townhome-style duplex near OU with fireplaces and wet bar.
      1309 Eastgate Drive, Norman, OK 73071
      View Details
    • $1,950,000
      3,528 SF

      Norman Equestrian Facility with Indoor Arena

      84-acre equestrian facility with indoor arena near Norman, OK.
      1523 72nd Avenue NE, Norman, OK 73026
      View Details

    FAQs

    What type of property is this?
    Land - 12-acre parcel in Newcastle, visible from I-35, strong potential.
    Where is this land located?
    The property is located at 0 S Harvey Rd Norman, OK.
    What is the asking price?
    The asking price for this property is $2,950,000.
    What are key features of this property?
    This property features: High‑traffic location visible from I‑35 (63,000+ vehicles per day) and Highway 9 (24,000 VPD).; City of Newcastle is open to rezoning from industrial to CC2 (QSR, retail, or pad site use).; Located in a fast‑growing commercial corridor with ongoing development.
    (405) 435-3572 Call to check price and availability
    We can help!
    Contact for Pricing
    Please call us for current price
    and status of this listing Chris Johnson
    Chris Johnson
    Real Estate License ID: 200452
    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
    0 S Harvey Rd, Norman, OK
    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!