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    The Largest CRE Database in the US with Over 1 Million Listings
    Property profile & analytics

    3401 Rock Crk Rd Norman, OK 73072-2435

    • Office buildings
    • 4,771 SF
    • 2.35 lot acres
    OFF-MARKET
    Last Sale
    Jul 01, 2021
    $1,020,000
    Value Estimations
    $920,000
    Show details
    Cap Rate Potential
    4.6%
    Office buildings
    Location Intelligence
    Property ID
    US69-2173701
    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.

    Current Use by Public Records

    • Erin Lofties PLLC / Counselor
    • Smith-Ware Real Estate Group / Real Estate Agent
    • MIGUEL BAEZ - Realtor® / Real Estate Agent
    • Neat Escrow and Title / Title Company
    • Angela Martinez - Kalhor Group Realty / Real Estate Agent

    Property Details for 3401 Rock Crk Rd

    Year built
    2017
    Lot size
    2.35 lot acres
    Property size
    4,771 SF
    Property type
    Office buildings
    APN
    NC29LGBP1 1 H001
    APU
    NC29LGBP11H001

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      Statistic approach
      $940,000
      ML approach
      $930,000

    • CAP approach

      CAP Return
      Estimation
      6%
      $720,000
      6.5%
      $665,000
      7%
      $615,000

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $1,084,000
      Market price range: $568k - $1.08M
      AI Estimate
      $800,000
      Market price range: $187k - $800k

    • Alternative Use

      Use
      Estimation
      OFFICE BUILDING
      $815,000
      Current use
      RETAIL STORES
      $950,000
      Change: +16% Conversion: Moderate
      MEDICAL BUILDING
      $945,000
      Change: +16% Conversion: Easy
      COMMERCIAL (GENERAL)
      $800,000
      Change: -2% Conversion: Easy
      AUTO REPAIR, GARAGE
      $785,000
      Change: -4% Conversion: Difficult

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

    Location Insight

    • Map
    • Local Demand
    City
    Norman
    County
    Cleveland
    State
    Oklahoma
    Longitude
    -97.492
    Latitude
    35.2475
    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
    $16,547
    $34,878
    $102,920
    $137,798
    -
    $328,480
    $969,285
    $1,297,765

    Comparable in this City

    • Value Estimation
      $275,000
      0.22 Acres

      2216 36th NW Ave

      OFFICE BUILDING • 0.22 Acres
      2216 36th NW Ave, Norman, OK 73072-3270
      View Details
    • Value Estimation
      $320,000
      2,340 SF

      Norman, OK 73072

      OFFICE BUILDING • 2,340 SF
      Norman, OK 73072
      View Details
    • Value Estimation
      $350,000
      584 SF

      Norman, OK 73072

      OFFICE BUILDING • 584 SF
      Norman, OK 73072
      View Details
    • Value Estimation
      $220,000
      1,261 SF

      3500 Robinson St

      OFFICE BUILDING • 1,261 SF
      3500 Robinson St, Norman, OK 73072-3363
      View Details
    • Value Estimation
      $435,000
      13,467 SF

      2721 36th NW Ave

      OFFICE BUILDING • 13,467 SF
      2721 36th NW Ave, Norman, OK 73072-2411
      View Details
    • Value Estimation
      $395,000
      10,400 SF

      1601 36th NW Ave

      OFFICE BUILDING • 10,400 SF
      1601 36th NW Ave, Norman, OK 73072-3269
      View Details

    Similar Nearby for Sale

    • $5,250,000
      38,033 SF

      Prime Norman Office Complex

      Two buildings, 38,033 sq ft, $5.25M
      1161 36Th Ave, Norman, OK 73072
      View Details
    • $348,000
      30.08 Acres

      Highway 9 Commercial Land Opportunity

      30 Acres, High Visibility, I-35 Proximity
      9 Hwy, Newcastle, OK 73072
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    • $6,990,000
      56,393 SF

      Avadon: Norman Luxury Apartments

      36-Unit Apartment Building, Norman, OK
      2281 36Th Ave, Norman, OK 73072
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    • $269,000

      Hi-Point Office Land Opportunity

      Prime Norman, OK commercial lot, 24,474 SF.
      2500 Mcgee Dr, Norman, OK 73072
      View Details
    • Contact for pricing
      1.50 Acres

      Greenway Park Commercial Land

      Norman, OK: 1.5 acres, two lots available.
      1651 36Th Ave, Norman, OK 73072
      View Details
    • Contact for pricing
      12,224 SF

      Norman Warehouse: Prime Industrial Space

      Spacious warehouse, ideal for various uses.
      2701 Bart Conner Ct, Norman, OK 73072
      View Details

    Similar Nearby for Lease

    • $24 SF/Yr
      9,200 SF

      Legacy Office Park: Norman, OK

      Class A Office Suites, Norman, OK
      3219 Rock Creek Rd, Norman, OK 73072
      View Details
    • $20 SF/Yr
      6,528 SF

      Norman Executive Office Suite

      1,500 SF Office Space Available
      1200 Interstate Dr, Norman, OK 73072
      View Details
    • $20 SF/Yr
      2,272 SF

      Norman Office Space For Rent

      Office space available in west Norman near NW 36th Ave.
      3625 W Main St, Norman, OK 73072
      View Details
    • $900 /Mo
      600 SF

      Norman Office Space For Rent

      Multi-tenant office building with easy I-35 access. Utilities included.
      1238 N Adkins Hill Rd, Norman, OK 73072
      View Details
    • $18 SF/Yr
      120 SF

      Executive Office Suites Available

      Second-floor office suites with utilities and janitorial services included.
      3700 W Robinson St, Norman, OK 73072
      View Details
    • $26 SF/Yr
      12,737 SF

      Norman Office Space Available

      Office space available for lease in Norman, Oklahoma.
      201 David L Boren Blvd, Norman, OK 73072
      View Details
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    Norman, OK 73072-2435
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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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