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Property profile & analytics
FOR SALE
Retail space
218 E Main St Norman, OK 73069
Entity Owned
11-yr Hold
~
Est. High Equity
Property ID
US69-0597832
For Sale
1 / 14
$899,000
218 E Main St, Norman, OK 73069
View Listing →
Property profile
Verified
Property type
Retail space
Use group
RETAIL STORES (PERSONAL SERVICES)
Year built
1930
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Total area
4,904 SF
Lot
0.08 ac (3,485 SF)
Zoning code
R2
APN
NC29AAAOT 13 9001
UPID
US69-0597832
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
-
The Computer Specialist Tech Support Center IT Consulting Firm
-
Adam & Eve Stores (Bike/Boat/Book/etc) Store Clothing & Fashion Store
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
$755k
Comparable Approach
Comparable
$517k
Blend (final)
Blend
$700k
Owner & transaction history
Wolffelk Corp · 11 yrs held
Wolffelk Corp
since 2015
7 recorded transactions
Zoning & alternative use
R2 · Norman, OK
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
by Request
CAP Approach
CAP Return
Estimation
6%
$815,000
6.5%
$755,000
7%
$700,000
Alternative Use
Use
Estimation
RETAIL STORES
$1,030,000
Current use
MEDICAL BUILDING
$970,000
Change: -6% · Conversion: Difficult
COMMERCIAL (GENERAL)
$845,000
Change: -18% · Conversion: Easy
Blend value · Realmo final
$700k
Range $630k – $770k · ±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
$143 / 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
$5,980
Tax year 2023
Assessed value
$49,800
Assessed 2023
Previous assessed
$49,800
+0.0% YoY
Effective rate
12.01%
On assessed value
Assessed land
$8,400
Assessed improvement
$41,400
Land market value
$70,000
Improvement market value
$345,000
Total market value
$415,000
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
Retail space
Use group
RETAIL STORES (PERSONAL SERVICES)
Status
For Sale
Year built
1930
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Heating
PACKAGE
Cooling
AC.PACKAGE
Stories
1
Units
1
Bathrooms
1
Total area
4,904 SF
Lot
0.08 ac (3,485 SF)
Zoning code
R2
APN
NC29AAAOT 13 9001
UPID
US69-0597832
Jurisdiction
CLEVELAND
Zoning & alternative use
R2 · Norman, OK
Zoning R2 · permitted uses
R2 · Norman, OK
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Norman. Always verify with local authorities before improvements.
Alternative use value scenarios
Repositioning upside vs current use
RETAIL STORES Current
Est. value
$1.0M
MEDICAL BUILDING
Est. value
$970,000
COMMERCIAL (GENERAL)
Est. value
$845,000
RETAIL STORES Current
MEDICAL BUILDING
COMMERCIAL (GENERAL)
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
1930
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Heating
PACKAGE
Cooling
Yes
Stories
1
Units
1
Bathrooms
1
Lot
0.08 ac
Current owner
From public records · entity-resolved
Wolffelk Corp
Entity
Mailing address
218 E MAIN ST, NORMAN, OK 73069-1303
Mailing matches property
Yes
Owner-occupied
Yes
Ownership since
2015
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
Nov 6, 2017
—
Wolffelk Corp
—
Deed
related
$558,000 · Republic Bk&tr
Jun 16, 2016
—
Wolffelk Corp
—
Deed
related
$289,644 · First Fidelity Bk
Feb 4, 2015
$415,000
Wolffelk Corp
Newton Mitchell Invs INC
Warranty Deed
$269,750 · Cmdny LLC
—
—
Newt Mitchell Investments INC
—
Deed Of Trust
related
$150,595 · Bank 7
—
—
Newt Mitchell Investments INC
—
Deed Of Trust
related
$248,470 · Arvest Bank
—
—
Wolffelk Corp
—
Deed Of Trust
related
$289,644 · First Fidelity Bk
—
—
Wolffelk Corp
—
Deed Of Trust
related
$558,000 · Republic Bk&tr
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.
Try Rey
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“Is 15.6% cap rate sustainable?” · “Best tenant mix for BU1?” · “What’s the redev upside?”
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