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Property profile & analytics
OFF-MARKET
Estimated value
$735,000
Medical Office Space
2300 36th NW Ave Norman, OK 73072-2922
Entity Owned
17-yr Hold
Free & Clear
Property ID
US69-0759018
Property profile
Verified
Property type
Medical Office Space
Use group
MEDICAL BUILDING
Year built
2009
Construction
WOOD FRAME
Total area
4,657 SF
Lot
1.02 ac (44,518 SF)
APN
NC29RAZFA 1 1001
UPID
US69-0759018
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
-
Joel C. Razook, MD Ophthalmologist
-
NVision Unlimited Eyewear Ophthalmologist (Bike/Boat/Book/etc) Store
-
Otte Misty D OD Physician
-
Enhanced Cosmetics Medical Clinic Skin Care Clinic
-
Oasis Medical Spa Spa & Massage Center Alternative Medicine Practice
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
$745k
Comparable Approach
Comparable
$646k
Blend (final)
Blend
$735k
Owner & transaction history
Razook Family LLC · 17 yrs held
Razook Family LLC
since 2009
5 recorded transactions
Zoning & alternative use
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Retail stores
$925,000
+0.6%
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%
$805,000
6.5%
$745,000
7%
$690,000
Alternative Use
Use
Estimation
MEDICAL BUILDING
$920,000
Current use
RETAIL STORES
$925,000
Change: +1% · Conversion: Difficult
OFFICE BUILDING
$795,000
Change: -13% · Conversion: Easy
COMMERCIAL (GENERAL)
$780,000
Change: -15% · Conversion: Easy
AUTO REPAIR, GARAGE
$765,000
Change: -17% · Conversion: Difficult
Blend value · Realmo final
$735k
Range $662k – $809k · ±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
$158 / 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
$17,277
Tax year 2023
Assessed value
$143,884
Assessed 2023
Previous assessed
$137,032
+5.0% YoY
Effective rate
12.01%
On assessed value
Assessed land
$50,801
Assessed improvement
$93,083
Land market value
$445,227
Improvement market value
$815,788
Total market value
$1,261,015
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
Medical Office Space
Use group
MEDICAL BUILDING
Status
Off-Market
Year built
2009
Construction
WOOD FRAME
Heating
PACKAGE
Cooling
AC.PACKAGE
Stories
1
Units
1
Total area
4,657 SF
Lot
1.02 ac (44,518 SF)
APN
NC29RAZFA 1 1001
UPID
US69-0759018
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
MEDICAL BUILDING Current
Est. value
$920,000
RETAIL STORES
Est. value
$925,000
OFFICE BUILDING
Est. value
$795,000
COMMERCIAL (GENERAL)
Est. value
$780,000
AUTO REPAIR, GARAGE
Est. value
$765,000
MEDICAL BUILDING Current
RETAIL STORES
OFFICE BUILDING
COMMERCIAL (GENERAL)
AUTO REPAIR, GARAGE
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
2009
Construction
WOOD FRAME
Heating
PACKAGE
Cooling
Yes
Stories
1
Units
1
Lot
1.02 ac
Current owner
From public records · entity-resolved
Razook Family LLC
Entity
Free & Clear · 17 yrs held
Mailing address
2300 36TH AVE NW, NORMAN, OK 73072-2922
Ownership since
2009
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
5 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Mar 21, 2024
—
Rzook Family LLC
—
Deed
related
$100,000 · Bancfirst
Feb 3, 2021
—
Razook Family LLC
—
Deed
related
$188,295 · Bancfirst
Jan 30, 2020
—
Razook Family LLC
—
Deed
related
$623,680 · Bancfirst
Jan 16, 2009
$620,000
Razook Family LLC
Cies Properties LLC
Warranty Deed
related
—
—
—
Razook Family LLC
—
Deed Of Trust
related
$623,680 · Bancfirst
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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