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    Property profile & analytics

    1130 Rambling Oaks Dr Norman, OK 73072

    • Retail space
    • 12,500 SF
    • 0.68 lot acres
    For Sale
    View listing
    $2,625,500
    Value Estimations
    Cap Rate Potential
    Location Intelligence
    Property ID
    US69-0421277
    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.

    Current Use by Public Records

    • Neidhart Insurance / Insurance Agency
    • Hello Pho - Vietnamese Kitchen / Restaurant
    • Elite Roofing OK / Roofing Company / General Contractor
    • Belle Vie Salon & Spa / Nail Salon
    • The Hair Loft at Mystique / Hair Salon

    Property Details for 1130 Rambling Oaks Dr

    Year built
    2005
    Construction
    STEEL FRAME
    Lot size
    0.68 lot acres
    Property size
    12,500 SF
    Zone code
    ZN C1
    Property type
    Retail space
    APN
    NC29SPS11 1 3002
    APU
    NC29SPS1113002

    Description

    This exceptional 12,500-square-foot retail building, situated on a 0.68-acre lot in Norman, Oklahoma, presents a compelling investment opportunity. Constructed in 2005, the two-story brick structure boasts ample parking and is zoned CO. Currently, a portion of the building (1,485 square feet) is available for lease or purchase. The building previously housed La Baguette, making it ideally suited for a restaurant or similar business. The property's location on Norman's west side offers excellent visibility, potentially enhanced by a pole sign with Interstate visibility. The building features a single suite, offering flexibility for a variety of commercial uses. Detailed financial information is available upon request. The property is located at 1130 Rambling Oaks Dr, Norman, OK 73071, within Cleveland County. This is a rare opportunity to acquire a well-maintained commercial property in a thriving Oklahoma market.

    Value Estimations

    based on Realmo’s proprietary methodology

    • CAP approach

      CAP Return
      Estimation
      6%
      $2,080,000
      6.5%
      $1,920,000
      7%
      $1,780,000

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $2,876,000
      Market price range: $1.46M - $3.99M
      AI Estimate
      $2,332,000
      Market price range: $602k - $3.71M

    • Alternative Use

      Use
      Estimation
      RETAIL STORES
      $2,485,000
      Current use
      RESTAURANT
      $3,715,000
      Change: +49% Conversion: Easy
      MEDICAL BUILDING
      $2,470,000
      Change: -1% Conversion: Difficult
      OFFICE BUILDING
      $2,140,000
      Change: -14% Conversion: Easy
      COMMERCIAL (GENERAL)
      $2,090,000
      Change: -16% Conversion: Easy
      AUTO REPAIR, GARAGE
      $2,060,000
      Change: -17% Conversion: Difficult

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

    Location Insight

    • Map
    • Local Demand
    City
    Norman
    County
    Cleveland
    State
    Oklahoma
    Longitude
    -97.49
    Latitude
    35.2321
    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
    $22,743
    $53,149
    $136,246
    $189,395
    -
    $444,315
    $1,138,964
    $1,583,279

    Comparable in this City

    • Value Estimation
      $1,115,000
      5,106 SF

      2410 36th NW Ave

      RETAIL STORES (PERSONAL SERVICES) • 5,106 SF
      2410 36th NW Ave, Norman, OK 73072
      View Details
    • Value Estimation
      $1,415,000
      7,706 SF

      700 Ed Noble Pkwy

      RETAIL STORES (PERSONAL SERVICES) • 7,706 SF
      700 Ed Noble Pkwy, Norman, OK 73072-4877
      View Details
    • Value Estimation by Request
      800 SF

      2336 Interstate Dr

      RETAIL STORES (PERSONAL SERVICES) • 800 SF
      2336 Interstate Dr, Norman, OK 73072-2991
      View Details
    • Value Estimation by Request
      800 SF

      2350 Interstate Dr

      RETAIL STORES (PERSONAL SERVICES) • 800 SF
      2350 Interstate Dr, Norman, OK 73072-2991
      View Details
    • Value Estimation by Request
      880 SF

      1402 24th SW Ave

      RETAIL STORES (PERSONAL SERVICES) • 880 SF
      1402 24th SW Ave, Norman, OK 73072-5775
      View Details
    • Value Estimation by Request
      1,980 SF

      1402 24th SW Ave

      RETAIL STORES (PERSONAL SERVICES) • 1,980 SF
      1402 24th SW Ave, Norman, OK 73072-5775
      View Details

    Similar Nearby for Sale

    • Contact for pricing
      4,470 SF

      Norman Commercial Property For Sale

      Three-building commercial property totaling 4,470 SF in Norman, OK.
      3145 SE 44Th St, Norman, OK 73072
      View Details
    • $1,800,000
      9,486 SF

      Prime Norman Restaurant Space

      Established restaurant; high traffic location; $1.8M.
      600 Interstate Dr, Norman, OK 73072
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    • $2,625,500
      12,500 SF

      Norman Shopping Center Investment

      Prime retail center, high visibility, I-35 access.
      1130 Rambling Oaks Dr, Norman, OK 73072
      View Details
    • Contact for pricing

      La Quinta Inn & Suites

      117-room hotel near the University of Oklahoma.
      930 Ed Noble Dr, Norman, OK 73072
      View Details
    • $306,800
      6.89 Acres

      Prime Norman Commercial Land

      Two 0.88-acre tracts, high visibility
      12 12Th Ave, Norman, OK 73072
      View Details
    • $386,500

      Land Available with Utilities

      Land with natural gas, telecom, electric, water, and sewer.
      3060 Healthplex Pkwy, Norman, OK 73072
      View Details

    Similar Nearby for Lease

    • $18 SF/Yr
      7,038 SF

      Retail Space in Upscale Center

      Retail space available in a well-maintained community center.
      3720 W Robinson St, Norman, OK 73072
      View Details
    • $20 SF/Yr
      1,800 SF

      Retail Space Near University Campus

      Retail space available near the University of Oklahoma campus.
      1065-1067 36Th Ave NW, Norman, OK 73072
      View Details
    • $18 SF/Yr
      3,277 SF

      Retail Space in Upscale Center

      Retail space in Norman's premier lifestyle center near OU.
      3750 W Robinson St, Norman, OK 73072
      View Details
    • Contact for pricing
      2,100 SF

      Retail Space in High-Traffic Center

      Retail space available in a highly visited community shopping center.
      1351 24Th Ave NW, Norman, OK 73072
      View Details
    • $18 SF/Yr
      1,180 SF

      Retail Space Near Sooner Mall

      Retail space for lease in a convenient west side location.
      211 34Th Ave SW, Norman, OK 73072
      View Details
    • $18 SF/Yr
      1,746 SF

      Retail Space in Upscale Center

      Retail space available in Norman's premier lifestyle center.
      3770 W Robinson St, Norman, OK 73072
      View Details
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    Norman, OK 73072
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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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