Commercial Real Estate Market in Norman, OK
Updated monthly: sale, lease, property records, location trend, and more… · Last update: October 31
213 active listings and 3,496 off-market properties in Norman, OK. Commercial property asks $138/SF to buy and $15.50/SF/Yr to lease.
Market Trends
Norman, OK spans 200.2 square miles in Cleveland County, Oklahoma. Figures below refresh monthly; last updated 31 October 2026.
Office
Office space in Norman, OK has a median asking sale price of $229/SF (based on 7 listings). Vacancy runs 20.2% across the South region in 2025, up from 14.4% in 2019.
Retail
Retail space in Norman, OK has a median asking sale price of $152/SF (based on 5 listings). Vacancy runs 5.4% across the South region in 2025, down from 7% in 2020.
Typical asking range for active listings in Norman, OK (the middle half): Lease $12.00–$28.00/SF/Yr (median $16.00/SF/Yr, 9 listings).
Industrial
Industrial vacancy in Norman, OK runs 7.9% across the South region in 2025, up from 6% in 2019. Nearly 2.3x the 2022 low of 3.5%.
Multifamily
Multifamily space in Norman, OK has a median asking sale price of $136/SF. Vacancy runs 11.3% across the South region in 2025, up from 8.5% in 2022.
Typical asking range for active listings in Norman, OK (the middle half): Sale $129–$144/SF (median $136/SF, 16 listings).
Zoning & Land Use
Land Use Mix share of zoned land by category
- Agricultural 74.1%
- Residential 15.4%
- Planned_development 4.9%
- Commercial 1.6%
- Industrial 1.4%
- Open space 0.9%
- Civic 0.2%
Largest Zones share of zoned land by district
SEC. 420.2 - A-2, RURAL AGRICULTURAL DISTRICT (As amended by Ord. No. O-2432 - August 3, 1971; O -7475-4 - July 9, 1974; O -7879-42 - January 30, 1979; O -8182-5 - October 13, 1981; O -8182-32 - January 5, 1982; O -8384-135 - June 19, 1984; O-8485-65 - June 11, 1985; O-8687-9 - August 5, 1986; O-8687-49 - March 14, 1987; O-8990-42 - July 24, 1990; O-9293-38…
Market overview
Demographics & Economy
Norman, OK has 132,968 residents in 57,180 households. Density runs 664 people per square mile. Median household income here is $68,890 and median gross rent $1,063 a month.
Tools
Frequently Asked Questions
What is the median price per square foot for commercial property in Norman?
How much does it cost to lease commercial space in Norman?
Where does Realmo's Norman market data come from?
Methodology & data sources
- Asking prices and medians
- There are 118 active for-sale and 95 active for-lease listings in Norman, OK. The medians are based on 31 of the for-sale and 22 of the for-lease listings, those that state a price or rent per square foot. These are ASKING figures from live listings, not closed-transaction prices, and a figure resting on fewer than 10 listings says so where it is quoted.
- Vacancy rates
- Published per-sector market series, taken at the metro level where one exists and otherwise at the Census-region level — a chart reading "in <region> region" is a regional number, not this city's.
- Zoning and land use
- The current municipal zoning release: 114,374 zoned acres across 27 districts. Shares are of zoned land, so parcels the release leaves unclassified are excluded from the mix.
- Refresh
- The monthly aggregates close at the end of the previous month, so 31 October 2026 — not today — is the honest last update.
- Known limitations
- office vacancy is reported at South region level, retail vacancy is reported at South region level and industrial vacancy is reported at South region level.
- Coverage
- Metrics below the 10-observation threshold fall back one geographic level. The geography used is named on each figure.
Compiled by the Realmo Data team · reviewed 31 October 2026 · How Realmo checks market page data · Report a data issue
