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    1000 Interstate Dr Norman, OK 73072-9708
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    Property profile & analytics

    1000 Interstate Dr, Norman, OK 73072-9708

    View on Map
    • Hotels
    • 88,006 SF
    • 4.25 lot acres
    Off-Market
    Property ID
    US69-0593008
    The Realmo ID is a unique identifier assigned to every property, incorporating country codes and precise geo-coordinates for 300x300-foot land blocks. It enables standardized data collection and seamless integration of disparate sources such as ownership, tax, title data and physical specifications. By aggregating current and historical records, the Realmo ID powers advanced analytics and delivers deep, verifiable insights for real estate professionals.
    Value Estimations
    $1,675,000
    Show details
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Delta Hotels Norman / Hotel & Motel

    Property Details for 1000 Interstate Dr

    Year built
    1984
    Construction
    MASONRY/CONCRETE MASONRY UNITS (CMUS)
    Lot size
    4.25 lot acres
    Zone code
    ZN RM
    Property type
    Hotels
    APN
    NC29SPBR8 1 1001
    APU
    NC29SPBR811001

    Sales History

    Date Price Buyer Seller Deed Type Mortgage
    Sep 3, 2021 — Norman Hospitality INC — Deed · related $15.9M · First Bank & Trust Co
    Aug 28, 2017 — Norman Hospitality INC — Trustees Deed · related $13.6M · First Bk
    May 23, 2016 — Norman Hospitality INC — Deed · related $4.8M · First United Bk
    Jul 29, 2005 — Norman Hospitality INC — Deed Of Trust · related $37M · Prudential Mortgage Capital Co
    — — Norman Hospitality INC — Deed Of Trust · related $9.5M · First United Bk
    — — Norman Hospitality INC — Loan Modification · related $4.8M · First United Bk

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      ML approach
      $1,065,000

    • Comparable approach

      Method
      Estimation
      AI Estimate
      $2,278,000
      Market price range: $1.89M - $10.9M

    Get a detailed, property-specific estimation — fast and free

    Location Insight

    • Map
    • Local Demand
    City
    Norman
    County
    Cleveland
    State
    Oklahoma
    Longitude
    -97.4867
    Latitude
    35.2306
    CBSA code
    36420
    CBSA name
    OKLAHOMA CITY, OK METROPOLITAN STATISTICAL AREA

    Property Tax & Assessments

    Tax date
    Tax Amount
    Assessed Land Value
    Assessed Improvement Value
    Total Assessed Value
    Applied Tax Rate
    Land Market Value
    Improvement Market Value
    Total Market Value
    2023
    $30,139
    $177,777
    $73,218
    $250,995
    -
    $1,481,480
    $610,150
    $2,091,630

    Comparable in this City

    • Value Estimation
      $6,300,000
      62,256 SF

      930 Ed Noble Dr

      HOTEL
      930 Ed Noble Dr, Norman, OK 73072-4807
      View Details
    • Value Estimation
      $2,510,000
      34,308 SF

      301 Norman Ctr Ct

      HOTEL
      301 Norman Ctr Ct, Norman, OK 73072-4867
      View Details
    • Value Estimation
      $4,385,000
      60,935 SF

      3100 Medical Park Pl

      HOTEL
      3100 Medical Park Pl, Norman, OK 73072-7243
      View Details
    • Value Estimation by Request
      0.61 Acres

      3505 Medical Park Dr

      MEDICAL BUILDING
      3505 Medical Park Dr, Norman, OK 73072-7208
      View Details
    • Value Estimation by Request
      5.00 Acres

      Norman, OK 73072

      VACANT COMMERCIAL LAND
      Norman, OK 73072
      View Details
    • Value Estimation by Request
      0.01 Acres

      Norman, OK 73072

      VACANT COMMERCIAL LAND
      Norman, OK 73072
      View Details

    Similar Nearby for Sale

    • Contact for pricing

      La Quinta Inn & Suites

      117-room hotel near the University of Oklahoma.
      930 Ed Noble Dr, Norman, OK 73072
      View Details
    • $285,000
      0.74 Acres

      Buildable Lot for Luxury Condos

      0.74 acre buildable lot zoned for low-density apartments.
      801 36Th Ave NW, Norman, OK 73072
      View Details
    • Contact for pricing

      Norman Land Parcel Near I-35

      10 acres MOL, west of I-35 in north Norman.
      3801 W Franklin Rd, Norman, OK 73072
      View Details
    • Contact for pricing

      Land Available in Norman, OK

      Land with utilities available in Healthplex Parkway, Norman, OK.
      3140 Healthplex Pkwy, Norman, OK 73072
      View Details
    • Contact for pricing
      1,483 SF

      Selah Live-Work Unit For Sale

      Live and work in one convenient, innovative space.
      18841 Selah Way, Norman, OK 73072
      View Details

    Similar Nearby for Lease

    • Contact for pricing

      Office Space Available for Lease

      Office spaces available on multiple floors, totaling 12,073 SF.
      2600 Van Buren St, Norman, OK 73072
      View Details
    • Contact for pricing
      1,250 SF

      Norman Retail Space For Rent

      Retail space in Norman, close to I-35 and amenities.
      3451 36Th Ave NW, Norman, OK 73072
      View Details
    • Contact for pricing
      2,000 SF

      2,000 SF Retail Space Available

      Second-generation retail space in prime location near Norman Healthplex.
      3600 W Tecumseh Rd, Norman, OK 73072
      View Details
    • Contact for pricing
      3,330 SF

      Norman Office Space For Rent

      Office space available in Norman, Oklahoma, suitable for medical or professional use.
      3411 W Rock Creek Rd, Norman, OK 73072
      View Details
    • Contact for pricing
      1,500 SF

      Prime Retail Space in Norman

      Spacious retail property with customizable floor plans and ample parking.
      3717-3737 36Th Ave NW, Norman, OK 73072
      View Details
    • Contact for pricing
      1,950 SF

      Modern Office/Warehouse Space Available

      Newly constructed office/warehouse with flexible layouts and ample parking.
      4701 W Main St, Norman, OK 73072
      View Details
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    Norman, OK 73072-9708
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    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
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