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    3557 National Dr Norman, OK 73069-8255
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    Property profile & analytics

    3557 National Dr Norman, OK 73069-8255

    View on Map
    • Flex space
    • 7,564 SF
    • 0.68 lot acres
    Off-Market
    Last Sale Dec 4, 2020
    Property ID
    US69-0137759
    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
    $535,000
    Show details
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Floors By Moore Inc / Carpet & Flooring Store
    • Sooner Acute / Medical Clinic
    • DealCorp / General Contractor
    • Ikon Truck / Auto Parts Store
    • Sublime Signs LLC / (Bike/Boat/Book/etc) Store / Printing Service

    Property Details for 3557 National Dr

    Year built
    1985
    Construction
    MASONRY/CONCRETE MASONRY UNITS (CMUS)
    Lot size
    0.68 lot acres
    Property size
    7,564 SF
    Zone code
    I1
    Property type
    Flex space
    APN
    NC29NTRP3 6 4A001
    APU
    NC29NTRP364A001

    Description

    This exceptional 1,650-square-foot flex space, located at 3557 National Dr. C, Norman, OK 73069, presents a unique opportunity for businesses seeking a versatile and strategically positioned property. Situated in the Moore/Norman submarket of the Oklahoma City Metro area, this two-story building offers convenient access to I-35. Built in 1985, the property features a 15.5-foot ceiling height, providing ample space for various uses. The zoning is designated as Industrial Light Manufacturing. The space is currently configured as a single-tenant occupancy, with a warehouse entry from the rear and a storefront/office facing Tecumseh Rd. The property includes one bathroom. This listing specifically refers to unit C. The total square footage is approximately 1,650 square feet. This property is perfect for businesses needing a blend of office and warehouse space, offering both functionality and prime location within a thriving commercial area. The property's location provides easy access to major transportation routes, enhancing logistical efficiency.

    Value Estimations

    based on Realmo’s proprietary methodology

    • CAP approach

      CAP Return
      Estimation
      6%
      $745,000
      6.5%
      $690,000
      7%
      $640,000

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $709,000
      Market price range: $435k - $854k
      AI Estimate
      $464,000
      Market price range: $251k - $568k

    • Alternative Use

      Use
      Estimation
      INDUSTRIAL (GENERAL)
      $590,000
      Current use

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

    Location Insight

    • Map
    • Local Demand
    City
    Norman
    County
    Cleveland
    State
    Oklahoma
    Longitude
    -97.4713
    Latitude
    35.2617
    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
    $6,355
    $15,132
    $37,788
    $52,920
    -
    $147,395
    $368,045
    $515,440

    Comparable in this City

    • Value Estimation by Request
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      5777 York Dr

      LIGHT INDUSTRIAL • 3,440 SF
      5777 York Dr, Norman, OK 73069-9505
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    • Value Estimation
      $1,255,000
      17,096 SF

      2651 Venture Dr

      LIGHT INDUSTRIAL • 17,096 SF
      2651 Venture Dr, Norman, OK 73069-8278
      View Details
    • Value Estimation
      $2,065,000
      40,552 SF

      1200 Rock Crk Rd

      LIGHT INDUSTRIAL • 40,552 SF
      1200 Rock Crk Rd, Norman, OK 73069-8520
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    • Value Estimation by Request
      4,352 SF

      1755 Topeka St

      LIGHT INDUSTRIAL • 4,352 SF
      1755 Topeka St, Norman, OK 73069-8223
      View Details
    • Value Estimation by Request
      3,600 SF

      921 University Blvd

      LIGHT INDUSTRIAL • 3,600 SF
      921 University Blvd, Norman, OK 73069-7617
      View Details

    Similar Nearby for Sale

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    Similar Nearby for Lease

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      Premium industrial warehouse and office space for lease in Norman.
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      1,500 SF

      Norman Flex Space Available

      Flex space available in Norman, Oklahoma.
      5738 Huettner Ct, Norman, OK 73069
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    • Contact for pricing
      1,267 SF

      Norman Flex Space Available Soon

      Flex space with gym potential, available in 30 days.
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      1,500 SF

      New Construction Flex Space Available

      New flex space with easy highway access for lease.
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      View Details
    • Contact for pricing

      H-Industrial Flex Park

      Newer development with climate-controlled office and heated warehouse.
      5738-5744 Huettner Ct, Norman, OK 73069
      View Details
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    Norman, OK 73069-8255
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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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