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Property profile & analytics
OFF-MARKET
Estimated value
$1,710,000
Retail space
588 Ed Noble Pkwy, Norman, OK 73072-4875
Entity Owned
6-yr Hold
Free & Clear
Property ID
US69-2282480
Property profile
Verified
Property type
Retail space
Use group
RETAIL STORES (PERSONAL SERVICES)
Year built
1996
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Total area
13,300 SF
Lot
1.6 ac (69,696 SF)
Zoning code
C2
APN
NC29PARPL 1 4001
UPID
US69-2282480
Cap rate & NOI
Priority signal for investors
Implied cap rate, NOI & suggested price
Cap rate vs submarket · NOI estimate · 3 price anchors
Implied cap rate, NOI & suggested price
Cap vs submarket · NOI estimate · 3 price anchors
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
$2.04M
Comparable Approach
Comparable
$1.71M
Blend (final)
Blend
$1.71M
Owner & transaction history
University Sp LLC · 6 yrs held
University Sp LLC
since 2019
7 recorded transactions
Zoning & alternative use
C2 · Norman, OK
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Cap rate
Implied · in-place · derived from last sale + estimated NOI
Implied Cap rate
#1
Implied · in-place · NOI ÷ last sale
In-place · derived from last sale + estimated NOI
Cap rate, NOI & submarket benchmark
Implied cap rate vs Norman submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Norman submarket · NOI estimate · typical band, median & reading
Refine your cap rate
8-question underwriting flow
1.
Property current status — Going-In vs Stabilized
2.
Price for denominator — asking / offer / market
3.
Leasing status & lease structure (NNN / Gross)
4.
Tenant risk profile & vacancy assumption
5.
Upload T12 / rent roll / OM (optional)
Refine in 60 seconds, get exact suggested price
T12 upload · Submarket benchmarks · Sensitivity grid
Suggested price · 3 cap rate anchors
Income approach @ 5% / 7% / 9% — aggressive / typical / conservative
Suggested price at 5% / 7% / 9% cap
Aggressive / typical / conservative · Implied $/SF per anchor · Sensitivity grid
Suggested price at 5% / 7% / 9% cap
Aggressive / typical / conservative · implied $/SF · sensitivity
Value
AI, CAP & Alternative Use estimations · Realmo proprietary blendValue Estimations
Based on Realmo’s proprietary methodology
AI Approach
Method
Estimation
Statistic approach
by Request
ML approach
by Request
CAP Approach
CAP Return
Estimation
6%
$2,210,000
6.5%
$2,040,000
7%
$1,895,000
Alternative Use
Use
Estimation
RETAIL STORES
$2,645,000
Current use
MEDICAL BUILDING
$2,630,000
Change: -1% · Conversion: Difficult
OFFICE BUILDING
$2,275,000
Change: -14% · Conversion: Easy
COMMERCIAL (GENERAL)
$2,225,000
Change: -16% · Conversion: Easy
AUTO REPAIR, GARAGE
$2,190,000
Change: -17% · Conversion: Difficult
Blend value · Realmo final
$1.71M
Range $1.54M – $1.88M · ±10%
Realmo estimate · informational only.
These numbers are calculated by our models from public records and may not reflect actual market value.
Not an appraisal.
Verify with a licensed appraiser before transacting. Realmo accepts no liability for divergence from real-world outcomes.
View the full estimation — every method, every assumption
Confidence drivers & risk notes · Custom comparable set · Free for first 3 / day
Full estimation methodology
Every method · every assumption · confidence drivers
Price per SF
Sale + rent benchmarks
Subject property
$129 / SF
Submarket sale & rent benchmarks
Median sale $/SF · Asking & closed rent · Submarket vacancy
Submarket sale & rent benchmarks
Median sale $/SF · asking & closed rent · submarket vacancy
Property tax & assessments
Tax year 2023Property tax & assessments
Tax year 2023
Tax billed
$13,503
Tax year 2023
Assessed value
$112,454
Assessed 2023
Previous assessed
$107,099
+5.0% YoY
Effective rate
12.01%
On assessed value
Assessed land
$47,951
Assessed improvement
$64,503
Land market value
$836,352
Improvement market value
$1,125,035
Total market value
$1,961,387
Comparables
6 recent transactions · within 1.5 miComparable in this city
6 recent transactions
Comparable in this City
Similar Nearby for Sale
Similar Nearby for Lease
Recent comparable sales
Sale price & price/SF · Sale date & distance · Adjustments & confidence
Recent comparable sales
Sale price & $/SF · sale date & distance · adjustments
Property description
Physical attributes from public recordsBuilding & lot
Public records
Property type
Retail space
Use group
RETAIL STORES (PERSONAL SERVICES)
Status
Off-Market
Year built
1996
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Heating
PACKAGE
Cooling
AC.PACKAGE
Stories
1
Units
1
Total area
13,300 SF
Lot
1.6 ac (69,696 SF)
Zoning code
C2
APN
NC29PARPL 1 4001
UPID
US69-2282480
Jurisdiction
CLEVELAND
Zoning & alternative use
C2 · Norman, OK
Zoning C2 · permitted uses
C2 · Norman, OK
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Norman. Always verify with local authorities before improvements.
Alternative use value scenarios
Repositioning upside vs current use
RETAIL STORES Current
Est. value
$2.6M
MEDICAL BUILDING
Est. value
$2.6M
OFFICE BUILDING
Est. value
$2.3M
COMMERCIAL (GENERAL)
Est. value
$2.2M
AUTO REPAIR, GARAGE
Est. value
$2.2M
RETAIL STORES Current
MEDICAL BUILDING
OFFICE BUILDING
COMMERCIAL (GENERAL)
AUTO REPAIR, GARAGE
Alternative use deep dive — conversion cost, permits, timeline
Conversion cost estimate · Permit path & risks · Stabilized NOI per option
Alternative use deep dive
Conversion cost · permit path · stabilized NOI per option
Building & site characteristics
From public records
Year built
1996
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Heating
PACKAGE
Cooling
Yes
Stories
1
Units
1
Lot
1.6 ac
Current owner
From public records · entity-resolved
University Sp LLC
Entity
Free & Clear · 6 yrs held
Mailing address
2221 W LINDSEY ST STE #201, NORMAN, OK 73069-4066
Ownership since
2019
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
9 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Sep 19, 2019
$18,322,500
University Sp LLC
Cd 2007-cd5 Ed Noble Parkway L
Grant Deed
—
Mar 18, 2019
$15,400,000
Cd 2007-cd5 Ed Noble Parkway L
Sheriff Of Cleveland County|gemini Parkway Plaza S
Correction Deed
—
Feb 27, 2018
$15,400,000
Ed Noble Parkway LLC
Sheriff Of Cleveland County|gemini Parkway Plaza S
Trustees Deed
—
Nov 27, 2007
$4,827,000
Gemini Parkway Plaza 3 LLC
Gemini Parkway Plaza S LLC
Grant Deed
related
—
Nov 27, 2007
$1,224,500
Gemini Parkway Plaza 10 LLC
Gemini Parkway Plaza S LLC
Grant Deed
related
—
Nov 8, 2007
$13,511,000
Gemini Parkway Plaza 17 LLC
Gemini Parkway Plaza S LLC
Grant Deed
related
—
Sep 28, 2007
$20,101,500
Gemini Parkway Plaza 1 LLC
Gemini Parkway Plaza S LLC
Grant Deed
related
—
Jun 26, 2007
$29,110,000
Gemini Parkway Plaza H LLC
Kir Norman 001 LLC
Grant Deed
related
—
Jun 14, 2007
—
Gemini Parkway Plaza H LLC
Kir Norman 001 LLC
Grant Deed
related
—
Coming soon
Costs & Benchmarks
Operating expenses, capex projections, utility benchmarks, and submarket comparables — all in one view.
Coming soon
Risks
Flood, climate, environmental, title, and tenant-concentration risk — surfaced with mitigations and source citations.
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