Back to Search
Property profile & analytics
FOR SALE
Office buildings
2412 Palmer Cir Norman, OK 73069-6301
Entity Owned
17-yr Hold
~
Est. High Equity
Property ID
US69-2328879
For Sale
1 / 29
$950,000
2412 Palmer Cir, Norman, OK 73069-6301
View Listing →
Property profile
Verified
Property type
Office buildings
Use group
OFFICE BUILDING
Year built
1996
Construction
WOOD FRAME
Total area
5,161 SF
Lot
0.26 ac (11,326 SF)
APN
NC29WEPP3 12 11A002
UPID
US69-2328879
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
-
Norman Neurosurgical PC Medical Clinic Hospital
-
Michael James Alvis Physician
-
Alvis J Michael MD Physician
-
James Alvis Physician
-
Whitney Alvis Law Firm
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
$720k
Comparable Approach
Comparable
$856k
Blend (final)
Blend
$715k
Owner & transaction history
Fub Properties LLC · 17 yrs held
Fub Properties LLC
since 2008
7 recorded transactions
Zoning & alternative use
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Retail stores
$1.1M
+31.2%
Medical building
$1.0M
+23.4%
Commercial (general)
$890,000
+7.4%
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%
$780,000
6.5%
$720,000
7%
$665,000
Alternative Use
Use
Estimation
OFFICE BUILDING
$825,000
Current use
RETAIL STORES
$1,085,000
Change: +31% · Conversion: Moderate
MEDICAL BUILDING
$1,020,000
Change: +23% · Conversion: Easy
COMMERCIAL (GENERAL)
$890,000
Change: +7% · Conversion: Easy
AUTO REPAIR, GARAGE
$850,000
Change: +3% · Conversion: Difficult
Blend value · Realmo final
$715k
Range $644k – $787k · ±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
$139 / 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
$8,521
Tax year 2023
Assessed value
$70,961
Assessed 2023
Previous assessed
$67,582
+5.0% YoY
Effective rate
12.01%
On assessed value
Assessed land
$15,272
Assessed improvement
$55,689
Land market value
$172,125
Improvement market value
$627,632
Total market value
$799,757
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
Office buildings
Use group
OFFICE BUILDING
Status
For Sale
Year built
1996
Construction
WOOD FRAME
Heating
PACKAGE
Cooling
AC.PACKAGE
Stories
1
Units
1
Bathrooms
2
Total area
5,161 SF
Lot
0.26 ac (11,326 SF)
APN
NC29WEPP3 12 11A002
UPID
US69-2328879
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
OFFICE BUILDING Current
Est. value
$825,000
RETAIL STORES
Est. value
$1.1M
MEDICAL BUILDING
Est. value
$1.0M
COMMERCIAL (GENERAL)
Est. value
$890,000
AUTO REPAIR, GARAGE
Est. value
$850,000
OFFICE BUILDING Current
RETAIL STORES
MEDICAL 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
1996
Construction
WOOD FRAME
Heating
PACKAGE
Cooling
Yes
Stories
1
Units
1
Bathrooms
2
Lot
0.26 ac
Current owner
From public records · entity-resolved
Fub Properties LLC
Entity
Mailing address
PO BOX 721448, NORMAN, OK 73070-8118
Ownership since
2008
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
Dec 2, 2024
—
Palmer Circle LLC
—
Deed
related
$100,000 · Mabrey Bank
Dec 1, 2020
—
Palmer Circle LLC
—
Deed
related
$200,000 · Mabrey Bk
Dec 5, 2018
—
Palmer Circle LLC
—
Deed Of Trust
related
$200,000 · Mabrey Bk
Aug 27, 2008
$542,500
Fub Properties LLC
Advanced Finl Solutions INC
Warranty Deed
related
$542,500 · Intrust Bank NA
—
—
Fub Properties LLC
—
Deed Of Trust
related
$480,000 · Mabrey Bk
—
—
Advanced Finl Solutions INC
—
Deed Of Trust
related
—
—
—
Palmer Circle LLC
—
Loan Modification
related
$200,000 · Mabrey Bk
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
Ask anything about this address in plain English.
“Is 15.6% cap rate sustainable?” · “Best tenant mix for BU1?” · “What’s the redev upside?”
Full reports are paid
Unlock the full Property Analytics report
Start free for 7 days — no card required. Full owner contacts, all 4 valuations with methodology, refine flow, comparable adjustments, foot-traffic deep dive, export to PDF / CSV.
