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    Property profile & analytics

    Norman, OK 73072

    • Grocery and convenience stores
    • 4,258 SF
    • 3.41 lot acres
    OFF-MARKET
    Value Estimations
    $560,000
    Show details
    Cap Rate Potential
    Location Intelligence
    Property ID
    US69-0997267
    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

    • Grocery and convenience stores

    Property Details

    Year built
    1975
    Lot size
    3.41 lot acres
    Property size
    4,258 SF
    Property type
    Grocery and convenience stores
    APN
    0000-10-08N-03W-0-018-00
    APU
    00001008N03W001800

    Value Estimations

    based on Realmo’s proprietary methodology

    • Comparable approach

      Method
      Estimation
      AI Estimate
      $601,000
      Market price range: $353k - $685k

    • Alternative Use

      Use
      Estimation
      RETAIL STORES
      $685,000
      COMMERCIAL (GENERAL)
      $560,000
      OFFICE BUILDING
      $485,000
      MEDICAL BUILDING
      $395,000
      AUTO REPAIR, GARAGE
      $360,000

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

    Location Insight

    • Map
    • Local Demand
    City
    Norman
    County
    Mcclain
    State
    Oklahoma
    Longitude
    -97.4994
    Latitude
    35.1838
    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
    $7,593
    $38,105
    $33,015
    $71,120
    -
    $511,500
    $300,140
    $811,640

    Comparable in this City

    • Value Estimation by Request
      1,100 SF

      1402 24th SW Ave

      RETAIL STORES (PERSONAL SERVICES) • 1,100 SF
      1402 24th SW Ave, Norman, OK 73072-5775
      View Details
    • Value Estimation by Request
      880 SF

      2302 Interstate Dr

      RETAIL STORES (PERSONAL SERVICES) • 880 SF
      2302 Interstate Dr, Norman, OK 73072-2942
      View Details
    • Value Estimation
      $1,710,000
      13,300 SF

      588 Ed Noble Pkwy

      RETAIL STORES (PERSONAL SERVICES) • 13,300 SF
      588 Ed Noble Pkwy, Norman, OK 73072-4875
      View Details
    • Value Estimation by Request
      980 SF

      1980 State Hwy 9th 9

      RETAIL STORES (PERSONAL SERVICES) • 980 SF
      1980 State Hwy 9th 9, Norman, OK 73072-9847
      View Details
    • Value Estimation
      $655,000
      23,912 SF

      3206 Bart Conner Dr

      GYM, HEALTH SPA • 23,912 SF
      3206 Bart Conner Dr, Norman, OK 73072-2406
      View Details
    • Value Estimation by Request
      880 SF

      2314 Interstate Dr

      RETAIL STORES (PERSONAL SERVICES) • 880 SF
      2314 Interstate Dr, Norman, OK 73072-2942
      View Details

    Similar Nearby for Sale

    • Contact for pricing
      4,470 SF

      Norman Commercial Property For Sale

      Three-building commercial property totaling 4,470 SF in Norman, OK.
      3145 SE 44Th St, Norman, OK 73072
      View Details
    • $1,800,000
      9,486 SF

      Prime Norman Restaurant Space

      Established restaurant; high traffic location; $1.8M.
      600 Interstate Dr, Norman, OK 73072
      View Details
    • $2,625,500
      12,500 SF

      Norman Shopping Center Investment

      Prime retail center, high visibility, I-35 access.
      1130 Rambling Oaks Dr, Norman, OK 73072
      View Details
    • $641,628

      University North Park Land Opportunity

      Prime Norman Commercial Land, 30,675 SF
      3301 24Th Ave, Norman, OK 73072
      View Details
    • $306,800
      6.89 Acres

      Prime Norman Commercial Land

      Two 0.88-acre tracts, high visibility
      12 12Th Ave, Norman, OK 73072
      View Details
    • $120,000
      5.00 Acres

      Spacious Lot in Norman, OK

      5-acre lot in Norman near shopping, parks, and I-35.
      4521 Willow Grove Dr, Norman, OK 73072
      View Details

    Similar Nearby for Lease

    • $18 SF/Yr
      7,038 SF

      Retail Space in Upscale Center

      Retail space available in a well-maintained community center.
      3720 W Robinson St, Norman, OK 73072
      View Details
    • $24 SF/Yr
      25,795 SF

      Tecumseh Crossing Retail Spaces

      Prime Norman retail, two suites available.
      3321 Tecumseh Rd, Norman, OK 73072
      View Details
    • $12 SF/Yr
      13,366 SF

      Prominent Retail Space on Parkway

      Retail space with high visibility and strong anchor tenants.
      560 Ed Noble Pkwy, Norman, OK 73072
      View Details
    • $24 SF/Yr
      1,983 SF

      Retail Space in Norman, OK

      New construction retail space with high-traffic frontage and ample parking.
      3221 W Tecumseh Rd, Norman, OK 73072
      View Details
    • Contact for pricing
      2,496 SF

      Norman Retail/Office Ready Suite

      2,496 SF whiteboxed suite suitable for various businesses.
      1042 N Flood Ave, Norman, OK 73072
      View Details
    • Contact for pricing
      4,215 SF

      Norman Retail Space For Lease

      6,412 SF suite ideal for retail or service businesses.
      1024 N Flood Ave, Norman, OK 73072
      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.

    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
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