New search
Property profile & analytics
OFF-MARKET
Estimated value
$2,100,000
Flex space
2851 Flood Ave Norman, OK 73069-8475
Entity Owned
1-yr Hold
~
Est. High Equity
Property ID
US69-0210423
Property profile
Verified
Property type
Flex space
Use group
LIGHT INDUSTRIAL
Year built
1999
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Total area
17,267 SF
Lot
5.08 ac (221,285 SF)
APN
NC29VAIPA 1 1001
UPID
US69-0210423
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
-
Trans-Tel Central, LLC Corporate Office Corporate Office
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$2.10M
CAP Approach
CAP
$1.58M
Comparable Approach
Comparable
$1.68M
Blend (final)
Blend
$2.10M
Owner & transaction history
Trans Tel Central LLC · 1 yrs held
Trans Tel Central LLC
since 2024
Last sale
$2.1M
6 recorded transactions
Zoning & alternative use
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Medical building
$3.4M
+152.3%
Commercial (general)
$3.0M
+119.7%
Auto repair, garage
$2.8M
+110.2%
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
$2,100,000
ML approach
$2,100,000
CAP Approach
CAP Return
Estimation
6%
$1,705,000
6.5%
$1,575,000
7%
$1,460,000
Alternative Use
Use
Estimation
INDUSTRIAL (GENERAL)
$1,350,000
Current use
MEDICAL BUILDING
$3,410,000
Change: +152% · Conversion: Difficult
COMMERCIAL (GENERAL)
$2,970,000
Change: +120% · Conversion: Difficult
AUTO REPAIR, GARAGE
$2,840,000
Change: +110% · Conversion: Easy
OFFICE BUILDING
$2,765,000
Change: +105% · Conversion: Difficult
Blend value · Realmo final
$2.10M
Range $1.89M – $2.31M · ±10% · vs last sale $2.10M (Oct 30 2024)
Last sale anchor
$2.10M
Oct 30 2024
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
$122 / 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
$15,011
Tax year 2023
Assessed value
$125,014
Assessed 2023
Previous assessed
$125,014
+0.0% YoY
Effective rate
12.01%
On assessed value
Assessed land
$62,781
Assessed improvement
$62,233
Land market value
$995,782
Improvement market value
$987,083
Total market value
$1,982,865
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
Flex space
Use group
LIGHT INDUSTRIAL
Status
Off-Market
Year built
1999
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Heating
PACKAGE
Cooling
AC.PACKAGE
Stories
1
Units
1
Total area
17,267 SF
Lot
5.08 ac (221,285 SF)
APN
NC29VAIPA 1 1001
UPID
US69-0210423
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
INDUSTRIAL (GENERAL) Current
Est. value
$1.4M
MEDICAL BUILDING
Est. value
$3.4M
COMMERCIAL (GENERAL)
Est. value
$3.0M
AUTO REPAIR, GARAGE
Est. value
$2.8M
OFFICE BUILDING
Est. value
$2.8M
INDUSTRIAL (GENERAL) Current
MEDICAL BUILDING
COMMERCIAL (GENERAL)
AUTO REPAIR, GARAGE
OFFICE BUILDING
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
1999
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Heating
PACKAGE
Cooling
Yes
Stories
1
Units
1
Lot
5.08 ac
Current owner
From public records · entity-resolved
Trans Tel Central LLC
Entity
Mailing address
2851 N FLOOD AVE, NORMAN, OK 73069-8475
Mailing matches property
Yes
Owner-occupied
Yes
Ownership since
2024
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
6 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Oct 30, 2024
$2,100,000
Trans Tel Central LLC
Hard Edge Design INC
Special Warranty Deed
$1,680,000 · Sovereign Bank
Oct 26, 2018
—
Hard Edge Design INC
—
Deed
related
$200,000 · Republic Bk&tr
Oct 23, 2017
—
Hard Edge Design INC
—
Trustees Deed
related
$200,000 · Republic Bk&tr
Jun 1, 2016
$700,000
Jaypat 4 LLC
Hard Edge Design INC
Warranty Deed
$304,800 · First Nat'l Bk/ok
Oct 1, 2015
—
Hard Edge Design INC
—
Trustees Deed
related
$200,000 · Republic Bk&tr
—
—
Hard Edge Design INC
—
Loan Modification
related
$200,000 · Republic Bk&tr
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?”
You own 2851 Flood Ave?
List it free. Reach 20,000 daily buyers.
We’ve already pulled the facts. Confirm photos + price and you’re live in 2 minutes.
List this address →
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.
