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    301 Norman Ctr Ct Norman, OK 73072-4867
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    Property profile & analytics

    301 Norman Ctr Ct, Norman, OK 73072-4867

    View on Map
    • Hotels
    • 34,308 SF
    • 1.45 lot acres
    Off-Market
    Property ID
    US69-0394636
    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
    $2,510,000
    Show details
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Fairfield Inn & Suites Norman / Hotel & Motel
    • 301 Norman Center Court Parking / Parking Lot & Garage

    Property Details for 301 Norman Ctr Ct

    Year built
    1995
    Construction
    WOOD FRAME
    Lot size
    1.45 lot acres
    Zone code
    C2
    Property type
    Hotels
    APN
    NC29NRMCO 1 1001
    APU
    NC29NRMCO11001

    Sales History

    Date Price Buyer Seller Deed Type Mortgage
    Oct 7, 2024 — Midwest Heritage Inn Of Norman LP — Deed · related —
    Aug 15, 2014 — Midwest Heritage Inn Of Norman In — Grant Deed · related $100M · Citibank NA
    — — Midwest Heritage Inn Of Norman LP|midwest Heritage — Deed Of Trust · related $580M · Barclays Bk/plc
    — — Midwest Heritage Inn Of Norman In — Deed Of Trust · related $3.8M · Arvest Bank

    Value Estimations

    based on Realmo’s proprietary methodology

    • CAP approach

      CAP Return
      Estimation
      6%
      $2,770,000
      6.5%
      $2,555,000
      7%
      $2,375,000

    • Alternative Use

      Use
      Estimation
      HOTEL/MOTEL
      $2,830,000
      Current use
      OFFICE BUILDING
      $3,895,000
      Change: +38% Conversion: Difficult
      RESTAURANT
      $3,290,000
      Change: +16% Conversion: Difficult
      MEDICAL BUILDING
      $3,175,000
      Change: +12% Conversion: Difficult
      AUTO REPAIR, GARAGE
      $2,895,000
      Change: +2% Conversion: Difficult

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

    Location Insight

    • Map
    • Local Demand
    City
    Norman
    County
    Cleveland
    State
    Oklahoma
    Longitude
    -97.4886
    Latitude
    35.2162
    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
    $56,157
    $47,124
    $420,538
    $467,662
    -
    $442,134
    $3,945,642
    $4,387,776

    Comparable in this City

    • Value Estimation
      $6,300,000
      62,256 SF

      930 Ed Noble Dr

      HOTEL
      930 Ed Noble Dr, Norman, OK 73072-4807
      View Details
    • Value Estimation
      $1,675,000
      88,006 SF

      1000 Interstate Dr

      HOTEL
      1000 Interstate Dr, Norman, OK 73072-9708
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    • Value Estimation
      $4,385,000
      60,935 SF

      3100 Medical Park Pl

      HOTEL
      3100 Medical Park Pl, Norman, OK 73072-7243
      View Details
    • Value Estimation by Request
      0.61 Acres

      3505 Medical Park Dr

      MEDICAL BUILDING
      3505 Medical Park Dr, Norman, OK 73072-7208
      View Details
    • Value Estimation by Request
      5.00 Acres

      Norman, OK 73072

      VACANT COMMERCIAL LAND
      Norman, OK 73072
      View Details
    • Value Estimation by Request
      0.01 Acres

      Norman, OK 73072

      VACANT COMMERCIAL LAND
      Norman, OK 73072
      View Details

    Similar Nearby for Sale

    • Contact for pricing

      La Quinta Inn & Suites

      117-room hotel near the University of Oklahoma.
      930 Ed Noble Dr, Norman, OK 73072
      View Details
    • $306,800
      6.89 Acres

      Prime Norman Commercial Land

      Two 0.88-acre tracts, high visibility
      12 12Th Ave, Norman, OK 73072
      View Details
    • Contact for pricing
      2,780 SF

      Office Space For Sale

      2,780 SqFt office space available for purchase.
      2232 36Th Ave NW, Norman, OK 73072
      View Details
    • Contact for pricing
      6,262 SF

      Norman Commercial Investment Opportunity

      6,262 SF commercial building on 2.3 acres for sale.
      30217 Santa Fe Ave, Norman, OK 73072
      View Details
    • Contact for pricing

      Land Available with Utilities

      Land with natural gas, telecom, electric, water, and sewer.
      3060 Healthplex Pkwy, Norman, OK 73072
      View Details
    • Contact for pricing
      4,470 SF

      Norman Commercial Property For Sale

      Three-building commercial property totaling 4,470 SF in Norman, OK.
      3145 SE 44Th St, Norman, OK 73072
      View Details

    Similar Nearby for Lease

    • Contact for pricing
      1,958 SF

      Prominent Retail Space on Parkway

      Large retail space with high visibility and ample parking.
      670 Ed Noble Pkwy, Norman, OK 73072
      View Details
    • Contact for pricing
      3,787 SF

      Executive Office Suites Available

      Second-floor office suites with utilities and janitorial services included.
      3700 W Robinson St, Norman, OK 73072
      View Details
    • Contact for pricing
      4,320 SF

      Retail Space in Upscale Center

      Retail space available in a well-maintained community center.
      3720 W Robinson St, Norman, OK 73072
      View Details
    • Contact for pricing
      3,680 SF

      Auto Repair Shop For Rent

      Clean auto repair shop with warehouse and overhead doors.
      2719 Bart Conner Ct, Norman, OK 73072
      View Details
    • Contact for pricing

      Retail Space on West Main

      Prime retail space available on West Main Street, Norman, OK.
      3717 W Main St, Norman, OK 73072
      View Details
    • Contact for pricing

      Retail Space at University Center

      Retail space for lease in a high-traffic shopping center.
      1400 24Th Ave NW, Norman, OK 73072
      View Details

    Property Visit Statistics

    • Visits by month
      0
    • Visitors by month
      485
    • Avg Time on site
      242 min
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    Norman, OK 73072-4867
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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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