Property profile

2222 Westpark Dr Norman, OK 73069

OFF-MARKET
Office buildings
Property ID
US69-0427827
1,716 SF 0.13 ac lot Built 1982
Individually Owned 9-yr Hold Absentee Owner Free & Clear
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Property summary

AI-generated overview

This exceptional two-unit office building, located at 2222 Westpark Drive Unit A & B in Norman, Oklahoma, presents a unique investment opportunity. Boasting a total of 3,432 square feet situated on a 0.13-acre lot, this property offers significant potential for both owners and tenants. The building has undergone substantial improvements in recent years, enhancing its value and appeal. A brand-new roof was installed in 2023, ensuring long-term protection. The exterior received a complete siding upgrade in 2021, contributing to the property's modern aesthetic. Furthermore, Unit B benefits from a newly installed HVAC system in 2022, guaranteeing efficient climate control. Ten dedicated parking spaces are available for the convenience of occupants and visitors. The strategic location in central Norman provides unparalleled access to I-35, facilitating seamless commutes and convenient access to the city's amenities. This property is ideally suited for a variety of uses, including leasing one unit while occupying the other, or leasing both units for a steady income stream. The asking price for this well-maintained and updated office building is $600,000. This presents a compelling opportunity to acquire a valuable asset in a thriving Norman location.

Property profile

Verified
Property type Office buildings
Use group OFFICE BUILDING
Year built 1982
Construction WOOD FRAME
Total area 1,716 SF
Lot 0.13 ac (5,663 SF)
APN NC29WEROP 1 10002
UPID US69-0427827

Cap rate & NOI

Priority signal for investors
Implied cap rate, NOI & suggested price
Cap rate vs submarket · NOI estimate · 3 price anchors

Current use

Occupant on record · Public records
  • Insurance Agency
  • Insurance Agency

Location

2222 Westpark Dr Norman, OK 73069-4006
Norman metro Census 201000 OKLAHOMA CITY, OK METROPOLITAN STATISTICAL AREA
Google Maps

Value estimations

Realmo proprietary · 4 methods
AI Approach AI
$250k
CAP Approach CAP
by Request
Comparable Approach Comparable
by Request
Blend (final) Blend
$250k

Owner & transaction history

since 2016
4 recorded transactions
2016
$195,000
2016
$140,000
2013
Price N/A
1969
Price N/A

Comparables

6 recent transactions · within 1.5 mi
Comparable in this city
6 recent transactions
Recent comparable sales
Sale price & price/SF · Sale date & distance · Adjustments & confidence
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