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Property profile & analytics
OFF-MARKET
Estimated value
$570,000
Medical Office Space
816 24th SW Ave Norman, OK 73069-3930
Entity Owned
15-yr Hold
Free & Clear
Property ID
US69-0604535
Property profile
Verified
Property type
Medical Office Space
Use group
MEDICAL BUILDING
Year built
1995
Construction
WOOD FRAME
Total area
4,396 SF
Lot
0.64 ac (27,878 SF)
Zoning code
C2
APN
NC29WEPOR 4 11001
UPID
US69-0604535
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
-
Joshua Powell MD PLLC Ophthalmologist
-
Forrest W Shed Inc Physician
-
Joshua Trent Powell Ophthalmologist
-
Dr. Tiffany Spencer Physician
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
$705k
Comparable Approach
Comparable
$438k
Blend (final)
Blend
$570k
Owner & transaction history
Jtp Properties LLC · 15 yrs held
Jtp Properties LLC
since 2010
3 recorded transactions
Zoning & alternative use
C2 · Norman, OK
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Source
zoning ordinance 09 23 2022
Top alternative use upside
Retail stores
$925,000
+6.4%
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%
$760,000
6.5%
$705,000
7%
$655,000
Alternative Use
Use
Estimation
MEDICAL BUILDING
$870,000
Current use
RETAIL STORES
$925,000
Change: +6% · Conversion: Difficult
COMMERCIAL (GENERAL)
$755,000
Change: -13% · Conversion: Easy
AUTO REPAIR, GARAGE
$725,000
Change: -17% · Conversion: Difficult
OFFICE BUILDING
$705,000
Change: -19% · Conversion: Easy
Blend value · Realmo final
$570k
Range $513k – $627k · ±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
$130 / 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
$9,026
Tax year 2023
Assessed value
$75,159
Assessed 2023
Previous assessed
$71,580
+5.0% YoY
Effective rate
12.01%
On assessed value
Assessed land
$22,058
Assessed improvement
$53,101
Land market value
$475,201
Improvement market value
$1,143,928
Total market value
$1,619,129
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
Medical Office Space
Use group
MEDICAL BUILDING
Status
Off-Market
Year built
1995
Construction
WOOD FRAME
Heating
PACKAGE
Cooling
AC.PACKAGE
Stories
1
Units
1
Bathrooms
2
Total area
4,396 SF
Lot
0.64 ac (27,878 SF)
Zoning code
C2
APN
NC29WEPOR 4 11001
UPID
US69-0604535
Jurisdiction
CLEVELAND
Zoning & alternative use
C2 · Norman, OKZoning C2 · permitted uses
C2 · Norman, OK
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Source
zoning ordinance 09 23 2022
Alternative use value scenarios
Repositioning upside vs current use
MEDICAL BUILDING Current
Est. value
$870,000
RETAIL STORES
Est. value
$925,000
COMMERCIAL (GENERAL)
Est. value
$755,000
AUTO REPAIR, GARAGE
Est. value
$725,000
OFFICE BUILDING
Est. value
$705,000
MEDICAL BUILDING Current
RETAIL STORES
COMMERCIAL (GENERAL)
AUTO REPAIR, GARAGE
OFFICE BUILDING
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
1995
Construction
WOOD FRAME
Heating
PACKAGE
Cooling
Yes
Stories
1
Units
1
Bathrooms
2
Lot
0.64 ac
Current owner
From public records · entity-resolved
Jtp Properties LLC
Entity
Free & Clear · 15 yrs held
Mailing address
816 24TH AVE NW, NORMAN, OK 73069-6314
Ownership since
2010
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
3 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Dec 16, 2010
$650,000
Jtp Properties LLC
Britton Norman Props LLC
Grant Deed
related
—
May 7, 2007
—
Britton Norman Properties LLC
Forrest W Shed
Quit Claim Deed
related
$544,000 · Stillwater National Bank & Trust Co
—
—
Jtp Properties LLC
—
Deed Of Trust
related
$585,000 · Midfirst Bk
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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