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    Property profile & analytics

    Norman, OK 73026

    • Commercial land
    • 2.79 lot acres
    OFF-MARKET
    Last Sale
    Mar 09, 2023
    Value Estimations
    Cap Rate Potential
    Location Intelligence
    Property ID
    US69-0181664
    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.

    Current Use by Public Records

    • Commercial land

    Property Details

    Lot size
    2.79 lot acres
    Property type
    Commercial land
    APN
    NC40 8 1W 11017
    APU
    NC4081W11017

    Value Estimations

    Powered by Realmo proprietary methodology Last update: July 3, 2025

    • CAP approach

    • Comparable approach

    • Alternative Use

    Location Insight

    • Map
    • Local Demand
    City
    Norman
    County
    Cleveland
    State
    Oklahoma
    Longitude
    -97.2815
    Latitude
    35.1893
    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
    $0.00
    $0.00
    $0.00
    $0.00
    -
    $0.00
    $0.00
    $0.00

    Comparable in this City

    • Value Estimation by Request
      3.56 Acres

      Norman, OK 73026

      VACANT COMMERCIAL LAND • 3.56 Acres
      Norman, OK 73026
      View Details
    • Value Estimation by Request
      0.07 Acres

      108th Ave

      VACANT COMMERCIAL LAND • 0.07 Acres
      108th Ave, Norman, OK 73026
      View Details
    • Value Estimation by Request
      40.00 Acres

      5580 Robinson St

      VACANT COMMERCIAL LAND • 40.00 Acres
      5580 Robinson St, Norman, OK 73026-0731
      View Details
    • Value Estimation by Request
      1.00 Acre

      Norman, OK 73026

      VACANT COMMERCIAL LAND • 1.00 Acre
      Norman, OK 73026
      View Details
    • Value Estimation by Request
      10.06 Acres

      3405 168th NE Ave

      VACANT COMMERCIAL LAND • 10.06 Acres
      3405 168th NE Ave, Norman, OK 73026-9017
      View Details
    • Value Estimation by Request
      4.34 Acres

      Norman, OK 73026

      VACANT COMMERCIAL LAND • 4.34 Acres
      Norman, OK 73026
      View Details

    Similar Nearby for Sale

    • Contact for pricing

      32+ Acres Land Parcels Available

      30 land parcels available in West Norman near I-35.
      W Tecumseh Rd, Norman, OK 73026
      View Details
    • $401,280

      Development Land in Greenway Office

      Two lots available for development in Norman's Greenway Office Park.
      1651 36Th Ave NW, Norman, OK 73026
      View Details
    • New
      $159,000
      Pending

      Commercial Land Near State Highway

      1.5 acre commercial land near highway and grocery store.
      18500 E State Highway 9, Norman, OK 73026
      View Details
    • $419,276

      Norman Land for Development

      Two lots available in Greenway Office Park, Norman, OK.
      1719 36Th Ave NW, Norman, OK 73026
      View Details
    • $1,100,000

      Norman Land Parcel Near I-35

      10 acres MOL, west of I-35 in north Norman.
      3801 W Franklin Rd, Norman, OK 73026
      View Details
    • $1,450,000
      125.00 Acres

      Expansive Norman Agricultural Land Parcel

      125+/- acre agricultural land with development potential in Norman, OK.
      SE 179Th St, Norman, OK 73026
      View Details

    Similar Nearby for Lease

    • $18 SF/Yr
      1,857 SF

      New Office Space in Norman

      New construction office space available for rent in West Norman.
      2801 36Th Ave, Norman, OK 73026
      View Details
    • $22 SF/Yr
      1,250 SF

      Norman Retail Space For Rent

      Retail space in Norman, close to I-35 and amenities.
      3451 36Th Ave NW, Norman, OK 73026
      View Details
    • $17 SF/Yr
      4,000 SF

      Prime Retail Space in Norman

      Spacious retail property with customizable floor plans and ample parking.
      3717-3737 36Th Ave NW, Norman, OK 73026
      View Details
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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.

    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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