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    2746 Broce Dr Norman, OK 73072
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    Property profile & analytics

    2746 Broce Dr Norman, OK 73072

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    • Flex space
    • 31,620 SF
    • 1.29 lot acres
    For Lease
    $12 SF/Yr
    View Listing →
    Warehouse Space with Office For Lease
    $12 SF/Yr
    1,285 SF

    Warehouse Space with Office

    Warehouse space featuring an office, restroom, and overhead door.

    2746 BROCE DR, Norman, OK
    View Listing
    Property ID
    US69-0511123
    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
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Versatile Networks / Telecommunications Service / General Contractor
    • DMG Construction, LLC / Construction Company
    • First Class Dent Removal LLC / Auto Repair Shop
    • Legacy 4 Plumbing / Plumbing Service / General Contractor

    Property Details for 2746 Broce Dr

    Year built
    1997
    Construction
    STEEL FRAME
    Lot size
    1.29 lot acres
    Property size
    31,620 SF
    Zone code
    I1
    Property type
    Flex space
    APN
    NC29BREP215A001
    APU
    NC29BREP215A001

    Description

    This exceptional 1,285-square-foot flex space, located at 2746 Broce Drive, Suite 104, Norman, OK 73072, offers a unique blend of warehouse and office functionality. Built in 2006, this single-building property in Cleveland County is perfect for businesses needing versatile space. The unit features a 242-square-foot office area, complemented by an ADA-compliant restroom for accessibility. The warehouse component boasts 1,043 square feet, providing ample room for storage or production. Key features include a 12' x 14' overhead door equipped with an operator, ensuring easy loading and unloading. The warehouse also benefits from a unit heater for climate control, energy-efficient LED lighting, and a generous 16-foot ceiling height, maximizing vertical space. A minimum three-year lease term is required. This property presents a compelling opportunity for businesses seeking a well-maintained, functional space in a convenient Norman location. The property is part of a multi-tenant building.

    Value Estimations

    based on Realmo’s proprietary methodology

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $1,499,000
      Market price range: $1.50M - $3.83M
      AI Estimate
      $893,000
      Market price range: $894k - $1.96M

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

    Location Insight

    • Map
    • Local Demand
    City
    Norman
    County
    Cleveland
    State
    Oklahoma
    Longitude
    -97.491
    Latitude
    35.2518
    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
    $9,181
    $18,387
    $58,071
    $76,458
    -
    $238,818
    $754,250
    $993,068

    Comparable in this City

    • Value Estimation
      $740,000
      12,096 SF

      3408 Bart Conner Dr

      LIGHT INDUSTRIAL • 12,096 SF
      3408 Bart Conner Dr, Norman, OK 73072-2415
      View Details
    • Value Estimation by Request
      7,662 SF

      3226 Bart Conner Dr

      LIGHT INDUSTRIAL • 7,662 SF
      3226 Bart Conner Dr, Norman, OK 73072-2406
      View Details
    • Value Estimation
      $720,000
      12,914 SF

      3217 Bart Conner Dr

      LIGHT INDUSTRIAL • 12,914 SF
      3217 Bart Conner Dr, Norman, OK 73072-2497
      View Details
    • Value Estimation
      $945,000
      13,328 SF

      2805 Broce Dr

      LIGHT INDUSTRIAL • 13,328 SF
      2805 Broce Dr, Norman, OK 73072-2405
      View Details
    • Value Estimation
      $540,000
      5,960 SF

      3111 Broce Dr

      LIGHT INDUSTRIAL • 5,960 SF
      3111 Broce Dr, Norman, OK 73072-2403
      View Details
    • Value Estimation by Request
      6,995 SF

      2756 Broce Dr

      Flex space • 6,995 SF
      2756 Broce Dr, Norman, OK 73072
      View Details

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      Functional Flex Space with Warehouse

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    Norman, OK 73072
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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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