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    The Largest CRE Database in the US with Over 1 Million Listings
    Property profile & analytics

    213 48th NW Ave Norman, OK 73072-4443

    • Office buildings
    • 6,244 SF
    • 0.57 lot acres
    OFF-MARKET
    Last Sale
    Mar 09, 2022
    $1,910,000
    Value Estimations
    $1,615,000
    Show details
    Cap Rate Potential
    3.4%
    Office buildings
    Location Intelligence
    Property ID
    US69-0729526
    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

    • Enhabit Home Health & Hospice, Regional Office (OK) / Home Health Care Service / Corporate Office

    Property Details for 213 48th NW Ave

    Year built
    2000
    Construction
    WOOD FRAME
    Lot size
    0.57 lot acres
    Property size
    6,244 SF
    Property type
    Office buildings
    APN
    NC29HEP26 1 4A001
    APU
    NC29HEP2614A001

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      Statistic approach
      $1,685,000
      ML approach
      $1,815,000

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $1,418,000
      Market price range: $743k - $1.42M
      AI Estimate
      $1,011,000
      Market price range: $244k - $1.05M

    • Alternative Use

      Use
      Estimation
      OFFICE BUILDING
      $1,070,000
      Current use
      RESTAURANT
      $1,855,000
      Change: +74% Conversion: Moderate
      RETAIL STORES
      $1,240,000
      Change: +16% Conversion: Moderate
      MEDICAL BUILDING
      $1,235,000
      Change: +16% Conversion: Easy
      COMMERCIAL (GENERAL)
      $1,045,000
      Change: -2% Conversion: Easy
      AUTO REPAIR, GARAGE
      $1,030,000
      Change: -4% Conversion: Difficult

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

    Location Insight

    • Map
    • Local Demand
    City
    Norman
    County
    Cleveland
    State
    Oklahoma
    Longitude
    -97.5114
    Latitude
    35.2202
    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
    $16,579
    $39,300
    $98,768
    $138,068
    -
    $327,500
    $823,070
    $1,150,570

    Comparable in this City

    • Value Estimation
      $320,000
      0.36 Acres

      3110 Interstate Dr

      OFFICE BUILDING • 0.36 Acres
      3110 Interstate Dr, Norman, OK 73072-2478
      View Details
    • Value Estimation
      $375,000
      1.97 Acres

      524 Interstate Dr

      OFFICE BUILDING • 1.97 Acres
      524 Interstate Dr, Norman, OK 73072-4258
      View Details
    • Value Estimation
      $225,000
      1,261 SF

      3500 Robinson St

      OFFICE BUILDING • 1,261 SF
      3500 Robinson St, Norman, OK 73072-3363
      View Details
    • Value Estimation
      $415,000
      3,456 SF

      Norman, OK 73072

      OFFICE BUILDING • 3,456 SF
      Norman, OK 73072
      View Details
    • Value Estimation
      $915,000
      4,009 SF

      1701 36th NW Ave

      OFFICE BUILDING • 4,009 SF
      1701 36th NW Ave, Norman, OK 73072-3273
      View Details
    • Value Estimation
      $1,085,000
      0.33 Acres

      2272 36th NW Ave

      OFFICE BUILDING • 0.33 Acres
      2272 36th NW Ave, Norman, OK 73072-3251
      View Details

    Similar Nearby for Sale

    • $5,250,000
      38,033 SF

      Prime Norman Office Complex

      Two buildings, 38,033 sq ft, $5.25M
      1161 36Th Ave, 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
    • $641,628

      University North Park Land Opportunity

      Prime Norman Commercial Land, 30,675 SF
      3301 24Th Ave, Norman, OK 73072
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    • $439,900

      Land Available with Utilities

      Land with utilities available in Norman, Oklahoma.
      3110 Healthplex Pkwy, Norman, OK 73072
      View Details
    • $450,000
      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
    • $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

    • $15 SF/Yr
      29,750 SF

      Riverside Center Executive Suites

      Prime Office Space Available Now
      2600 Van Buren St, Norman, OK 73072
      View Details
    • $13 SF/Yr
      5,176 SF

      Norman Executive Office Suites

      Class A Office Space, Multiple Suites Available
      2815-17 44Th St, Norman, OK 73072
      View Details
    • $18 SF/Yr
      7,955 SF

      Norman Office Space for Lease

      Prime Norman location, flexible suites available
      808 24Th Ave, Norman, OK 73072
      View Details
    • $276 SF/Yr
      1,390 SF

      Norman Office Space: 1390 sq ft

      Prime Norman office, high visibility, ample parking.
      3250 36Th Ave, Norman, OK 73072
      View Details
    • $16 SF/Yr
      3,300 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
    • $900 /Mo
      600 SF

      Norman Office Space For Rent

      Multi-tenant office building with easy I-35 access. Utilities included.
      1238 N Adkins Hill Rd, Norman, OK 73072
      View Details
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    Norman, OK 73072-4443
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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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