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    3221 Bart Conner Dr Norman, OK 73072
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    3221 Bart Conner Dr Norman, OK 73072

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    • Flex space
    • 13,424 SF
    • 1.02 lot acres
    For Lease
    View Listing →
    3221 Bart Conner Drive, Norman, OK For Lease
    Contact for pricing

    3221 Bart Conner Drive, Norman, OK

    2,250 SF industrial unit with warehouse and office space.

    3221 Bart Conner Dr, Norman, OK 73072
    View Listing
    Property ID
    US69-0486061
    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
    $1,310,000
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • E & L Upholstery / Furniture & Home Goods
    • Poolice Pool and Spa Service & Maintenance / Renovation Specialist / General Contractor
    • J W Engine Service / Auto Repair Shop / Vehicle Inspection Center
    • Mohr Contracting Inc. / Construction Company / General Contractor
    • DeepReach Oxidation / General Contractor

    Property Details for 3221 Bart Conner Dr

    Year built
    1983
    Construction
    MASONRY/CONCRETE MASONRY UNITS (CMUS)
    Lot size
    1.02 lot acres
    Property size
    13,424 SF
    Zone code
    I1
    Property type
    Flex space
    APN
    NC29BREP3 1 1001
    APU
    NC29BREP311001

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      Statistic approach
      $1,725,000
      ML approach
      $1,590,000

    • CAP approach

      CAP Return
      Estimation
      6%
      $1,325,000
      6.5%
      $1,225,000
      7%
      $1,135,000

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $1,413,000
      Market price range: $636k - $1.63M

    • Alternative Use

      Use
      Estimation
      INDUSTRIAL (GENERAL)
      $1,105,000
      Current use

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

    Location Insight

    • Map
    • Local Demand
    City
    Norman
    County
    Cleveland
    State
    Oklahoma
    Longitude
    -97.4903
    Latitude
    35.251
    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
    $12,230
    $22,472
    $79,375
    $101,847
    -
    $200,068
    $706,672
    $906,740

    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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      Climate Controlled Industrial Flex Space

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      6,262 SF

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      Three-building commercial property totaling 4,470 SF in Norman, OK.
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      12,235 SF

      Functional Warehouse Space in Norman

      7,936 SF warehouse space ideal for storage and distribution.
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      3,009 SF

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      Retail space available for sale, approximately 3,009 square feet.
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      28 Acres with I-35 Frontage

      28 acres of commercial land with I-35 frontage.
      Airport Rd, Goldsby, OK 73072
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    Similar Nearby for Lease

    • Contact for pricing
      6,995 SF

      Versatile Industrial Space in Norman

      6,995 SF flex space with overhead doors and offices.
      2756 Broce Dr, Norman, OK 73072
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    • $900 /Mo
      600 SF

      Norman Office Space For Rent

      Multi-tenant office building with easy I-35 access. Utilities included.
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      3,650 SF

      Functional Flex Space with Warehouse

      Flex space with offices and warehouse in Norman, Oklahoma.
      2845 Broce Dr, Norman, OK 73072
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    • Contact for pricing
      2,250 SF

      NW Norman Industrial Unit

      2,250 SF industrial unit with warehouse and office space.
      3221 Bart Conner Dr, Norman, OK 73072
      View Details
    • Contact for pricing

      Industrial Flex Space in Goldsby

      Industrial/Flex building in Goldsby, OK, near Norman and I-35.
      1200 W Interstate Dr, Norman, OK 73072
      View Details
    • Contact for pricing

      Functional Warehouse Space in Norman

      7,936 SF warehouse space with modern utility features.
      2701 Bart Conner Ct, Norman, OK 73072
      View Details
    View Listing
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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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