Add Listing
    Property Lookup
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    2505 Main St Norman, OK 73069-6329
    Back to Search
    Property profile & analytics

    2505 Main St Norman, OK 73069-6329

    View on Map
    • Automotive properties
    • 40,108 SF
    • 3.15 lot acres
    Off-Market
    Last Sale Sep 18, 2024
    $835,500
    Property ID
    US69-0474023
    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.
    Value Estimations
    $835,000
    Show details
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Native Harvest Dispensary / (Bike/Boat/Book/etc) Store
    • House of Power Gym / Gym & Fitness Center
    • Dent Spot Collision Center / Auto Repair Shop

    Property Details for 2505 Main St

    Year built
    1920
    Construction
    MASONRY/CONCRETE MASONRY UNITS (CMUS)
    Lot size
    3.15 lot acres
    Property size
    40,108 SF
    Zone code
    C2
    Property type
    Automotive properties
    APN
    NC29SALYR 1 1001
    APU
    NC29SALYR11001

    Description

    This exceptional 47,236 square foot industrial flex space at 2505 West Main Street, located in Cleveland County, presents a unique investment opportunity. Currently featuring 7,112 square feet of vacant space, this single-tenant property boasts a spacious, versatile open floor plan ideally suited for a variety of uses. Previously occupied by a gym, the building offers abundant natural light, two overhead doors for easy loading and unloading, and ample on-site parking. The zoning is PUD/industrial, providing flexibility for various business types. The building's large, open area is perfect for a startup business, a fitness center, wellness studio, or creative workspace. The price per square foot is exceptionally competitive, making this property an attractive option for entrepreneurs and businesses seeking a cost-effective and functional space. The property's prime location further enhances its appeal, offering convenient access to key transportation routes and amenities. This is a rare opportunity to acquire a well-located, versatile industrial flex space at an exceptional price point. Don't miss out on this chance to secure a thriving business location.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      Statistic approach
      $835,000
      ML approach
      $835,000

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

    Location Insight

    • Map
    • Local Demand
    City
    Norman
    County
    Cleveland
    State
    Oklahoma
    Longitude
    -97.4796
    Latitude
    35.2194
    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
    $36,076
    $113,406
    $187,030
    $300,436
    -
    $1,372,140
    $2,262,943
    $3,635,083

    Comparable in this City

    • Value Estimation by Request
      4,520 SF

      343 Interstate Dr

      VEHICLE SALES, RENTALS • 4,520 SF
      343 Interstate Dr, Norman, OK 73069-6326
      View Details
    • Value Estimation
      $1,045,000
      7,800 SF

      2525 Main St

      VEHICLE SALES, RENTALS • 7,800 SF
      2525 Main St, Norman, OK 73069-6329
      View Details
    • Value Estimation
      $2,325,000
      6.00 Acres

      3305 Corporate Ctr Dr

      VEHICLE SALES, RENTALS • 6.00 Acres
      3305 Corporate Ctr Dr, Norman, OK 73069-4256
      View Details
    • Value Estimation by Request
      6.09 Acres

      2351 Interstate Dr

      VEHICLE SALES, RENTALS • 6.09 Acres
      2351 Interstate Dr, Norman, OK 73069-6583
      View Details
    • Value Estimation
      $915,000
      2,035 SF

      1209 Lindsey St

      AUTO REPAIR, GARAGE • 2,035 SF
      1209 Lindsey St, Norman, OK 73069-4307
      View Details
    • Value Estimation by Request
      2,210 SF

      1006 Flood Ave

      AUTO REPAIR, GARAGE • 2,210 SF
      1006 Flood Ave, Norman, OK 73069-7644
      View Details

    Similar Nearby for Sale

    • $519,500
      6,000 SF

      Downtown Norman Retail Opportunity

      Retail property in Downtown Norman with parking and new roof.
      311-315 W Gray St, Norman, OK 73069
      View Details
    • Contact for pricing
      7,200 SF

      Fully Leased Retail Center

      7,200 SF retail center in high-traffic area near OU.
      1808 W Lindsey St, Norman, OK 73069
      View Details
    • $899,000
      5,904 SF

      Norman Retail/Office Building For Sale

      Two-story commercial building in Norman's vibrant Arts District.
      218 E Main St, Norman, OK 73069
      View Details
    • $660,000
      1,235 SF

      Norman Dunkin' Ground Lease

      High-Yield NNN Retail Investment
      2531 Main St, Norman, OK 73069
      View Details
    • $2,400,000
      3,932 SF

      Retail Site Near University

      Well-located retail site near the University of Oklahoma.
      1212 West Lindsey St, Norman, OK 73069
      View Details
    • Contact for pricing
      1,150 SF

      Remodeled Commercial Building For Sale

      Versatile, remodeled commercial building suitable for retail, restaurant, or office.
      527 E Main St, Norman, OK 73069
      View Details

    Similar Nearby for Lease

    • Contact for pricing

      New Retail Space For Lease

      New retail space in a bustling commercial area.
      301 E Robinson St, Norman, OK 73069
      View Details
    • Contact for pricing

      Retail/Restaurant Space Available

      2,800 SF space divisible into two 1,400 SF units.
      325-327 White St, Norman, OK 73069
      View Details
    • Contact for pricing
      37,350 SF

      Retail Space in University Town

      Premier retail destination in Norman's University Town Center.
      1690 24Th Ave Northwest, Norman, OK 73069
      View Details
    • Contact for pricing

      Retail Space on Busy Street

      Retail space with high visibility near OU campus.
      1839 W Main St, Norman, OK 73069
      View Details
    • Contact for pricing

      Campus Corner Retail/Restaurant Space

      Retail or restaurant space for lease near OU campus.
      746 Asp Ave, Norman, OK 73069
      View Details
    • Contact for pricing
      3,000 SF

      Retail Space in High-Traffic Center

      Retail space in a top-ranked shopping center with high visibility.
      1800 24Th Ave NW, Norman, OK 73069
      View Details
    Request Owner's contact information
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    2505 Main St
    Norman, OK 73069-6329
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    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
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    Thank You for Inquiry
    2505 Main St, Norman, OK, 73069
    letter with green check mark
    Check your email
    We sent you the
    agent's contact details. yellow underline
    Can't find it?
    Please check your junk/spam folder.
    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!