Add Listing
    Property Lookup
    • For Sale
    • For Lease
    • Sold
    • Property Lookup
    • Brokers
    480 24Th Ave NW Norman, OK 73069

    Property Lookup

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

    480 24Th Ave NW Norman, OK 73069

    View on Map
    • Retail space
    • 22,344 SF
    • 4.70 lot acres
    For Lease
    $18 SF/Yr
    View Listing →
    Finished Office Suites For Rent For Lease
    $18 SF/Yr
    3,970 SF

    Finished Office Suites For Rent

    Finished office suites available with flexible sizes and full service.

    480 24th Ave NW, Norman, OK
    View Listing
    Property ID
    US69-0348967
    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
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Weather Home Insurance Solutions / Marketing & Advertising
    • Old Republic Titlec Co-St Ls / Title Company
    • WSB / General Contractor
    • Seda Law Firm PLLC / Law Firm
    • BudEaze 24 Hour Dispensary / (Bike/Boat/Book/etc) Store

    Property Details for 480 24Th Ave NW

    Year built
    2010
    Construction
    STEEL FRAME
    Lot size
    4.70 lot acres
    Property size
    22,344 SF
    Property type
    Retail space
    APN
    NC29SKMAD 1 1001
    APU
    NC29SKMAD11001

    Value Estimations

    based on Realmo’s proprietary methodology

    • CAP approach

      CAP Return
      Estimation
      6%
      $3,715,000
      6.5%
      $3,430,000
      7%
      $3,185,000

    • Comparable approach

      Method
      Estimation
      AI Estimate
      $2,912,000
      Market price range: $1.04M - $2.91M

    • Alternative Use

      Use
      Estimation
      RETAIL STORES
      $4,695,000
      Current use
      MEDICAL BUILDING
      $4,415,000
      Change: -6% Conversion: Difficult
      COMMERCIAL (GENERAL)
      $3,845,000
      Change: -18% Conversion: Easy

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

    Location Insight

    • Map
    • Local Demand
    City
    Norman
    County
    Cleveland
    State
    Oklahoma
    Longitude
    -97.478
    Latitude
    35.2239
    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
    $56,197
    $110,555
    $357,445
    $468,000
    -
    $921,294
    $2,978,706
    $3,900,000

    Comparable in this City

    • Value Estimation by Request
      2,104 SF

      223 Gray St

      RETAIL STORES (PERSONAL SERVICES) • 2,104 SF
      223 Gray St, Norman, OK 73069-7205
      View Details
    • Value Estimation by Request
      1,078 SF

      224 Gray St

      RETAIL STORES (PERSONAL SERVICES) • 1,078 SF
      224 Gray St, Norman, OK 73069-7115
      View Details
    • Value Estimation by Request
      796 SF

      317 Acres St

      RETAIL STORES (PERSONAL SERVICES) • 796 SF
      317 Acres St, Norman, OK 73069-7824
      View Details
    • Value Estimation by Request
      3,250 SF

      315 Main St

      RETAIL STORES (PERSONAL SERVICES) • 3,250 SF
      315 Main St, Norman, OK 73069-1306
      View Details
    • Value Estimation by Request
      3,475 SF

      325 Main St

      RETAIL STORES (PERSONAL SERVICES) • 3,475 SF
      325 Main St, Norman, OK 73069-1306
      View Details
    • Value Estimation by Request
      3,236 SF

      307 Main St

      RETAIL STORES (PERSONAL SERVICES) • 3,236 SF
      307 Main St, Norman, OK 73069-1306
      View Details

    Similar Nearby for Sale

    • New
      $899,000
      5,904 SF

      Norman Retail/Office Building For Sale

      Two-story commercial building in Norman's vibrant Arts District.
      218 E Main St, Norman, OK 73069
      View Details
    • $660,000
      1,235 SF

      Norman Dunkin' Ground Lease

      High-Yield NNN Retail Investment
      2531 Main St, Norman, OK 73069
      View Details
    • Contact for pricing
      1,150 SF

      Remodeled Commercial Building For Sale

      Versatile, remodeled commercial building suitable for retail, restaurant, or office.
      527 E Main St, Norman, OK 73069
      View Details
    • $599,000
      1,596 SF

      Norman, OK Retail Opportunity

      High-traffic corner lot in Norman, Oklahoma, zoned C-1.
      1200 W Main St, Norman, OK 73069
      View Details
    • $1,200,000
      2,772 SF

      Norman Retail/Office Building For Sale

      Three-unit building suitable for retail or office use.
      926-932 N Flood Ave, Norman, OK 73069
      View Details
    • $2,400,000
      3,932 SF

      Retail Site Near University

      Well-located retail site near the University of Oklahoma.
      1212 West Lindsey St, Norman, OK 73069
      View Details

    Similar Nearby for Lease

    • $27 SF/Yr
      1,400 SF

      Retail Space on Campus Corner

      Retail space with high visibility near the University of Oklahoma.
      323 White St, Norman, OK 73069
      View Details
    • Contact for pricing
      3,000 SF

      Retail Space in High-Traffic Center

      Retail space in a top-ranked shopping center with high visibility.
      1800 24Th Ave NW, Norman, OK 73069
      View Details
    • $16 SF/Yr
      1,000 SF

      Retail Space in High-Traffic Center

      Retail space available in Norman's highest-traffic shopping center.
      2203 W Main St, Norman, OK 73069
      View Details
    • Contact for pricing
      2,041 SF

      Retail Space in Kohl's Anchored Center

      Retail space with excellent visibility and easy access.
      2308 24Th Ave NW, Norman, OK 73069
      View Details
    • $18 SF/Yr
      2,500 SF

      Retail Space Near University

      Retail space with ample parking and natural light.
      119 W Boyd St, Norman, OK 73069
      View Details
    • $32 SF/Yr
      4,679 SF

      Retail Space Near University

      Retail property located near the University of Oklahoma.
      1150 West Lindsey St, Norman, OK 73069
      View Details
    View Listing
    Request Owner's contact information
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    480 24Th Ave NW
    Norman, OK 73069
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    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
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    Thank You for Inquiry

    480 24Th Ave NW, Norman, OK, 73069

    letter with green check mark
    Check your email

    We sent you the

    agent's contact details. yellow underline

    Can't find it?
    Please check your junk/spam folder.
    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!