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Property profile & analytics
OFF-MARKET
Estimated value
$1,300,000
Office buildings
708 24th NW Ave Norman, OK 73069-6213
Entity Owned
~
Est. High Equity
Property ID
US69-0444435
Property summary
AI-generated overview
This 7,562 square foot Class B office building, located at 708 24th Ave NW in Norman, Oklahoma, offers multiple executive office suites for lease. Built in 1985 and renovated in 2003, the property sits on a 0.55-acre lot and is zoned C2. Currently, 5,291 square feet of space is available, with suites ranging from a minimum of 1,624 square feet to a maximum contiguous space of 2,000 square feet. The building's location in the Oklahoma City submarket provides convenient access to I-35 and nearby amenities. This property is ideal for a variety of professional or medical office uses, offering ample parking and functional floor plans. The property is situated in Cleveland County, Oklahoma, with a Norman city address and 73069 zip code. This is an exceptional opportunity to establish a thriving business presence in a desirable Norman location.
Property profile
Verified
Property type
Office buildings
Use group
OFFICE BUILDING
Year built
1985
Construction
STEEL FRAME
Total area
7,562 SF
Lot
0.55 ac (23,958 SF)
Zoning code
C2
APN
NC29WEPOR 4 16001
UPID
US69-0444435
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
Current use
Occupant on record · Public records
-
Valir Physical Therapy - Norman Medical Clinic
-
Bryan Waldenville | Meraki Real Estate Real Estate Agency
-
Valir Physical Therapy Medical Clinic
-
Tribute Memorial Care Social Service Agency
-
Zan Waldenville | Meraki Real Estate Real Estate Agency
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
$1.05M
Comparable Approach
Comparable
$1.57M
Blend (final)
Blend
$1.30M
Owner & transaction history
Rco Properties LLC
Rco Properties LLC
since 2025
Last sale
$1.4M
7 recorded transactions
Zoning & alternative use
C2 · Norman, OK
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Retail stores
$1.6M
+31.2%
Medical building
$1.5M
+23.4%
Commercial (general)
$1.3M
+7.4%
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%
$1,140,000
6.5%
$1,050,000
7%
$975,000
Alternative Use
Use
Estimation
OFFICE BUILDING
$1,210,000
Current use
RETAIL STORES
$1,590,000
Change: +31% · Conversion: Moderate
MEDICAL BUILDING
$1,495,000
Change: +23% · Conversion: Easy
COMMERCIAL (GENERAL)
$1,300,000
Change: +7% · Conversion: Easy
AUTO REPAIR, GARAGE
$1,245,000
Change: +3% · Conversion: Difficult
Blend value · Realmo final
$1.30M
Range $1.17M – $1.43M · ±10% · vs last sale $1.37M (Jun 25 2025)
Last sale anchor
$1.37M
Jun 25 2025
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
$172 / 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
$23,770
Tax year 2023
Assessed value
$197,953
Assessed 2023
Previous assessed
$188,527
+5.0% YoY
Effective rate
12.01%
On assessed value
Assessed land
$27,639
Assessed improvement
$170,314
Land market value
$240,000
Improvement market value
$1,478,902
Total market value
$1,718,902
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
Office buildings
Use group
OFFICE BUILDING
Status
Off-Market
Year built
1985
Construction
STEEL FRAME
Heating
PACKAGE
Cooling
AC.PACKAGE
Stories
2
Units
1
Bathrooms
4
Total area
7,562 SF
Lot
0.55 ac (23,958 SF)
Zoning code
C2
APN
NC29WEPOR 4 16001
UPID
US69-0444435
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
OFFICE BUILDING Current
Est. value
$1.2M
RETAIL STORES
Est. value
$1.6M
MEDICAL BUILDING
Est. value
$1.5M
COMMERCIAL (GENERAL)
Est. value
$1.3M
AUTO REPAIR, GARAGE
Est. value
$1.2M
OFFICE BUILDING Current
RETAIL STORES
MEDICAL 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
1985
Construction
STEEL FRAME
Heating
PACKAGE
Cooling
Yes
Stories
2
Units
1
Bathrooms
4
Lot
0.55 ac
Current owner
From public records · entity-resolved
Rco Properties LLC
Entity
Mailing address
708 24TH NW AVE NW, NORMAN, OK 73069
Mailing matches property
Yes
Owner-occupied
Yes
Ownership since
2025
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
13 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Sep 25, 2025
$1,370,000
Rco Properties LLC
708 M4th Avenue LLC
Warranty Deed
$1,000,000 · Midfirst Bank
Oct 9, 2024
—
708 24th Avenue LLC
—
Deed
related
$20,000 · Valliance Bank
Feb 12, 2018
$1,500,000
708 24th Avenue LLC
My5girls LLC
Warranty Deed
$1,182,867 · Valliance Bk
May 8, 2017
—
My5girls LLC
—
Deed
related
—
May 17, 2016
—
My5girls LLC
—
Trustees Deed
related
$80,000 · Valliance Bk
Apr 21, 2014
$1,235,000
My5girls LLC
S & E Ventures LLC
Warranty Deed
$988,000 · Republic Bk&tr
May 27, 2005
$410,000
S & E Ventures LLC
Norman Regional Hospotal Authotiy
Warranty Deed
$400,000 · Republic Bank & Trust
—
—
S & E Ventures LLC
—
Deed Of Trust
related
$618,473 · Arvest Bank
—
—
S & E Ventures LLC
—
Deed Of Trust
related
$1,297,896 · Arvest Bank
—
—
S & E Ventures LLC
—
Loan Modification
related
$40,000 · Republic Bank & Trust
—
—
S & E Ventures LLC
—
Loan Modification
related
$438,715 · Republic Bank & Trust
—
—
My5girls LLC
—
Deed Of Trust
related
$941,091 · Valliance Bk
—
—
My5girls LLC
—
Loan Modification
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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