Add Listing
    Property Lookup
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    230 And 106 Norman, OK 73069
    Property profile & analytics

    230 And 106, Norman, OK 73069

    View on Map
    • Retail properties & Spaces
    • 19,200 SF
    Off-Market
    Value Estimations
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Retail properties & Spaces

    Property Details for 230 And 106

    Property type
    Retail properties & Spaces
    Property subtype
    Office buildings

    Description

    This unique four-story building, totaling 19,200 square feet, offers a diverse range of commercial spaces in the heart of Cleveland County. Seven suites are available, ranging from 924 to 4,379 contiguous square feet, with 17,913 square feet currently vacant. The building, renovated in 2021, features first-floor retail spaces ideal for walk-in traffic, while the second and third floors provide bright, naturally lit office suites. A truly exceptional opportunity awaits on the fourth floor: a large, open space perfect for a restaurant or similar concept, featuring multiple garage doors instead of windows for a unique ambiance. All spaces are delivered in a new gray shell condition, ready for tenant build-out. Elevator access is available to the upper floors. Minimum lease terms are five years, and quoted rates represent the first year. This property presents a rare chance to secure versatile commercial space in a highly desirable location.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

    Location Insight

    • Map
    • Local Demand
    City
    Norman
    County
    Cleveland
    State
    Oklahoma
    Longitude
    -97.4406
    Latitude
    35.2218

    Comparable in this City

    • Value Estimation by Request
      1,235 SF

      2531 Main St

      Individual retail properties
      2531 Main St, Norman, OK 73069
      View Details
    • Value Estimation by Request
      1,125 SF

      320 White St

      Individual retail properties
      320 White St, Norman, OK 73069
      View Details
    • Value Estimation by Request
      7,478 SF

      932 Flood Ave

      Office Spaces
      932 Flood Ave, Norman, OK 73069
      View Details
    • Value Estimation by Request
      11.22 Acres

      2550 Mt Williams Dr

      RETAIL STORES (PERSONAL SERVICES)
      2550 Mt Williams Dr, Norman, OK 73069-9300
      View Details
    • Value Estimation by Request
      1,584 SF

      762 Asp Ave

      RETAIL STORES (PERSONAL SERVICES)
      762 Asp Ave, Norman, OK 73069-4902
      View Details
    • Value Estimation by Request
      2,842 SF

      309 Gray St

      RETAIL STORES (PERSONAL SERVICES)
      309 Gray St, Norman, OK 73069-7110
      View Details

    Similar Nearby for Sale

    • $660,000
      1,235 SF

      Norman Dunkin' Ground Lease

      High-Yield NNN Retail Investment
      2531 Main St, Norman, OK 73069
      View Details
    • Contact for pricing
      46,951 SF

      Large Retail Building For Sale

      Spacious 47,236 SF retail building with ample parking.
      2505 W Main St, Norman, OK 73069
      View Details
    • Contact for pricing
      6,000 SF

      Downtown Norman Retail Opportunity

      Retail property in Downtown Norman with parking and new roof.
      311-315 W Gray St, Norman, OK 73069
      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 St, Norman, OK 73069
      View Details
    • Contact for pricing
      2,772 SF

      Norman Retail/Office Building For Sale

      Three-unit building suitable for retail or office use.
      926-932 N Flood Ave, Norman, OK 73069
      View Details
    • $599,000
      1,596 SF

      Norman, OK Retail Opportunity

      High-traffic corner lot in Norman, Oklahoma, zoned C-1.
      1200 W Main St, Norman, OK 73069
      View Details

    Similar Nearby for Lease

    • Contact for pricing
      2,600 SF

      Retail Spaces For Rent

      Two retail spaces available for lease.
      514 N Porter Park, Norman, OK 73069
      View Details
    • $32 SF/Yr
      4,679 SF

      Retail Space Near University

      Retail property located near the University of Oklahoma.
      1150 West Lindsey St, Norman, OK 73069
      View Details
    • Contact for pricing
      4,215 SF

      Norman Retail Space For Lease

      6,412 SF suite ideal for retail or service businesses.
      1024 N Flood Ave, Norman, OK 73069
      View Details
    • Contact for pricing
      1,400 SF

      Retail Space in High-Traffic Center

      Retail space available in a highly visited shopping center.
      1628-1680 24Th Ave NW, Norman, OK 73069
      View Details
    • Contact for pricing
      1,400 SF

      Retail Space on Campus Corner

      Retail space with high visibility near the University of Oklahoma.
      323 White St, Norman, OK 73069
      View Details
    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.
    230 And 106
    Norman, OK 73069
    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
    230 And 106, 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!