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Property profile & analytics
OFF-MARKET
Estimated value
$910,000
Strip malls
1219 Alameda St Norman, OK 73071-3006
Entity Owned
~
Est. High Equity
Property ID
US69-2356035
Property profile
Verified
Property type
Strip malls
Use group
SHOPPING CENTER, STRIP CENTER
Year built
1999
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Total area
29,795 SF
Lot
3.71 ac (161,608 SF)
APN
NC29LAKT6 1 2001
UPID
US69-2356035
Cap rate & NOI
Priority signal for investors
Implied cap rate, NOI & suggested price
Cap rate vs submarket · NOI estimate · 3 price anchors
Implied cap rate, NOI & suggested price
Cap vs submarket · NOI estimate · 3 price anchors
Current use
Occupant on record · Public records
-
Happy Family Restaurant
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$785k
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$1.03M
Blend (final)
Blend
$910k
Owner & transaction history
Webv Norman Jv LLC
Webv Norman Jv LLC
since 2025
7 recorded transactions
Zoning & alternative use
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Cap rate
Implied · in-place · derived from last sale + estimated NOI
Implied Cap rate
#1
Implied · in-place · NOI ÷ last sale
In-place · derived from last sale + estimated NOI
Cap rate, NOI & submarket benchmark
Implied cap rate vs Norman submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Norman submarket · NOI estimate · typical band, median & reading
Refine your cap rate
8-question underwriting flow
1.
Property current status — Going-In vs Stabilized
2.
Price for denominator — asking / offer / market
3.
Leasing status & lease structure (NNN / Gross)
4.
Tenant risk profile & vacancy assumption
5.
Upload T12 / rent roll / OM (optional)
Refine in 60 seconds, get exact suggested price
T12 upload · Submarket benchmarks · Sensitivity grid
Suggested price · 3 cap rate anchors
Income approach @ 5% / 7% / 9% — aggressive / typical / conservative
Suggested price at 5% / 7% / 9% cap
Aggressive / typical / conservative · Implied $/SF per anchor · Sensitivity grid
Suggested price at 5% / 7% / 9% cap
Aggressive / typical / conservative · implied $/SF · sensitivity
Value
AI, CAP & Alternative Use estimations · Realmo proprietary blendValue Estimations
Based on Realmo’s proprietary methodology
AI Approach
Method
Estimation
Statistic approach
by Request
ML approach
$785,000
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
NEIGHBORHOOD: SHOPPING CENTER
$785,000
Current use
Blend value · Realmo final
$910k
Range $819k – $1.00M · ±10%
Realmo estimate · informational only.
These numbers are calculated by our models from public records and may not reflect actual market value.
Not an appraisal.
Verify with a licensed appraiser before transacting. Realmo accepts no liability for divergence from real-world outcomes.
View the full estimation — every method, every assumption
Confidence drivers & risk notes · Custom comparable set · Free for first 3 / day
Full estimation methodology
Every method · every assumption · confidence drivers
Price per SF
Sale + rent benchmarks
Subject property
$31 / SF
Submarket sale & rent benchmarks
Median sale $/SF · Asking & closed rent · Submarket vacancy
Submarket sale & rent benchmarks
Median sale $/SF · asking & closed rent · submarket vacancy
Property tax & assessments
Tax year 2023Property tax & assessments
Tax year 2023
Tax billed
$41,254
Tax year 2023
Assessed value
$343,546
Assessed 2023
Previous assessed
$327,187
+5.0% YoY
Effective rate
12.01%
On assessed value
Assessed land
$90,336
Assessed improvement
$253,210
Land market value
$969,648
Improvement market value
$2,717,871
Total market value
$3,687,519
Comparables
6 recent transactions · within 1.5 miComparable in this city
6 recent transactions
Comparable in this City
Similar Nearby for Sale
Similar Nearby for Lease
Recent comparable sales
Sale price & price/SF · Sale date & distance · Adjustments & confidence
Recent comparable sales
Sale price & $/SF · sale date & distance · adjustments
Property description
Physical attributes from public recordsBuilding & lot
Public records
Property type
Strip malls
Use group
SHOPPING CENTER, STRIP CENTER
Status
Off-Market
Year built
1999
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Heating
PACKAGE
Cooling
AC.PACKAGE
Stories
1
Units
1
Total area
29,795 SF
Lot
3.71 ac (161,608 SF)
APN
NC29LAKT6 1 2001
UPID
US69-2356035
Jurisdiction
CLEVELAND
Zoning & alternative use
Zoning · permitted uses
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Alternative use value scenarios
Repositioning upside vs current use
NEIGHBORHOOD: SHOPPING CENTER Current
Est. value
$785,000
NEIGHBORHOOD: SHOPPING CENTER Current
Alternative use deep dive — conversion cost, permits, timeline
Conversion cost estimate · Permit path & risks · Stabilized NOI per option
Alternative use deep dive
Conversion cost · permit path · stabilized NOI per option
Building & site characteristics
From public records
Year built
1999
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Heating
PACKAGE
Cooling
Yes
Stories
1
Units
1
Lot
3.71 ac
Current owner
From public records · entity-resolved
Webv Norman Jv LLC
Entity
Mailing address
5363 BALBOA BLVD STE #227, ENCINO, CA 91316-2801
Ownership since
2025
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
7 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Oct 20, 2025
$4,175,000
Webv Norman Jv LLC
Ec Foundation Heisman LLC
Special Warranty Deed
$3,280,000 · Bank Of America NA
Dec 29, 2020
—
Ec Foundation Heisman LLC
—
Deed
related
$2,649,864 · Tinker FCU
Aug 26, 2016
—
Ec Foundation Heisman LLC
—
Deed
related
$2,875,000 · Prime Bk
Jul 19, 2016
$4,537,000
Ec Foundation Heisman LLC
Norman Heisman Square LLC
Grant Deed
$2,850,000 · Rosalinde & Arthur Gilbert Fou
Mar 9, 2006
$4,552,500
Norman Heisman Square LLC
Heisman Square LLC
Warranty Deed
related
$3,608,600 · Bridger Commercial Funding LLC
—
—
Ec Foundation Heisman LLC
—
Deed Of Trust
related
$2,875,000 · Prime Bk
—
—
Ec Foundation Heisman LLC
—
Loan Modification
related
$2,649,864 · Tinker FCU
Coming soon
Costs & Benchmarks
Operating expenses, capex projections, utility benchmarks, and submarket comparables — all in one view.
Coming soon
Risks
Flood, climate, environmental, title, and tenant-concentration risk — surfaced with mitigations and source citations.
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