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

    2272 36th NW Ave Norman, OK 73072-3251

    • Office buildings
    • 0.33 lot acres
    OFF-MARKET
    Last Sale
    Aug 05, 2024
    $1,082,500
    Value Estimations
    $1,085,000
    Show details
    Cap Rate Potential
    Location Intelligence
    Property ID
    US69-2209115
    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

    • TRAC Advisor Group Inc / Financial Institution
    • Sentry Roofing Norman / Roofing Contractor
    • Centennial Roofing, Inc. / Roofing Contractor / Siding Contractor
    • Michael Corrales: Allstate Insurance / Insurance Company / Life Insurance Agency

    Property Details for 2272 36th NW Ave

    Lot size
    0.33 lot acres
    Property type
    Office buildings
    APN
    NC29BROP1 1 1015
    APU
    NC29BROP111015

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      Statistic approach
      $1,085,000
      ML approach
      $1,085,000

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

    Location Insight

    • Map
    • Local Demand
    City
    Norman
    County
    Cleveland
    State
    Oklahoma
    Longitude
    -97.4958
    Latitude
    35.2461
    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
    $13,162
    $25,963
    $83,652
    $109,615
    -
    $223,713
    $720,786
    $944,499

    Comparable in this City

    • Value Estimation
      $275,000
      0.22 Acres

      2216 36th NW Ave

      OFFICE BUILDING • 0.22 Acres
      2216 36th NW Ave, Norman, OK 73072-3270
      View Details
    • Value Estimation
      $320,000
      2,340 SF

      Norman, OK 73072

      OFFICE BUILDING • 2,340 SF
      Norman, OK 73072
      View Details
    • Value Estimation
      $350,000
      584 SF

      Norman, OK 73072

      OFFICE BUILDING • 584 SF
      Norman, OK 73072
      View Details
    • Value Estimation
      $220,000
      1,261 SF

      3500 Robinson St

      OFFICE BUILDING • 1,261 SF
      3500 Robinson St, Norman, OK 73072-3363
      View Details
    • Value Estimation
      $435,000
      13,467 SF

      2721 36th NW Ave

      OFFICE BUILDING • 13,467 SF
      2721 36th NW Ave, Norman, OK 73072-2411
      View Details
    • Value Estimation
      $395,000
      10,400 SF

      1601 36th NW Ave

      OFFICE BUILDING • 10,400 SF
      1601 36th NW Ave, Norman, OK 73072-3269
      View Details

    Similar Nearby for Sale

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      Prime Norman Office Complex

      Two buildings, 38,033 sq ft, $5.25M
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      Norman Shopping Center Investment

      Prime retail center, high visibility, I-35 access.
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      I-35 Frontage Goldsby Land

      28 Acres, I-35 Access, Investment Opportunity
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    • Contact for pricing
      6,995 SF

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      Investment properties • 6,995 SF
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    • Contact for pricing
      33.11 Acres

      Carroll Farm: Prime Norman Land

      33 Acres, 30 Parcels, High Traffic
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    • $1,800,000
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      Prime Norman Restaurant Space

      Established restaurant; high traffic location; $1.8M.
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    Similar Nearby for Lease

    • $24 SF/Yr
      9,200 SF

      Legacy Office Park: Norman, OK

      Class A Office Suites, Norman, OK
      3219 Rock Creek Rd, Norman, OK 73072
      View Details
    • $20 SF/Yr
      6,528 SF

      Norman Executive Office Suite

      1,500 SF Office Space Available
      1200 Interstate Dr, Norman, OK 73072
      View Details
    • $20 SF/Yr
      2,272 SF

      Norman Office Space For Rent

      Office space available in west Norman near NW 36th Ave.
      3625 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
    • $18 SF/Yr
      120 SF

      Executive Office Suites Available

      Second-floor office suites with utilities and janitorial services included.
      3700 W Robinson St, Norman, OK 73072
      View Details
    • $26 SF/Yr
      12,737 SF

      Norman Office Space Available

      Office space available for lease in Norman, Oklahoma.
      201 David L Boren Blvd, Norman, OK 73072
      View Details
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    2272 36th NW Ave
    Norman, OK 73072-3251
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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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