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2207-2255 W Main St
Norman, OK 73069
West Main Center · Retail Property For Sale
Executive Summary
Significant Value-Add Opportunity | Only 55% Occupied & 12.57% Pro-Forma Cap Rate | Potential Pad Opportunity
Priced at Only $71/SF & Average Rent is Only $7.94/SF – Well Below Market
Recent Big Lots Vacancies Have Attracted Various Attractive Backfills Across The Country
10 Gym is a Staple for College Students at OU Offering Memberships at Only $15.99/Month
Low Retail Vacancy Market – Less Than 5%
Strategic Location on a Prime Retail Corridor | West Main Street Sees Over 26,000 Vehicles per Day and is Anchored by Surrounding Retailers Such as Sam’s Club, Walmart, and Sooner Mall
Excellent Accessibility & Proximity to Interstate 35
Part of Oklahoma City MSA | Over 122,000 Residents within 5 Miles & Projected to Grow by 5% by 2029
Strong Economic Fundamentals & Traffic Drivers | Norman is Anchored by The University of Oklahoma (Home to 34,000 Students) & This Asset is Only 1.5 Miles From Campus
Priced at Only $71/SF & Average Rent is Only $7.94/SF – Well Below Market
Recent Big Lots Vacancies Have Attracted Various Attractive Backfills Across The Country
10 Gym is a Staple for College Students at OU Offering Memberships at Only $15.99/Month
Low Retail Vacancy Market – Less Than 5%
Strategic Location on a Prime Retail Corridor | West Main Street Sees Over 26,000 Vehicles per Day and is Anchored by Surrounding Retailers Such as Sam’s Club, Walmart, and Sooner Mall
Excellent Accessibility & Proximity to Interstate 35
Part of Oklahoma City MSA | Over 122,000 Residents within 5 Miles & Projected to Grow by 5% by 2029
Strong Economic Fundamentals & Traffic Drivers | Norman is Anchored by The University of Oklahoma (Home to 34,000 Students) & This Asset is Only 1.5 Miles From Campus
Property Facts
Sale Type
Investment
Property Type
Retail
Property Subtype
Storefront
Building Size
83,073 SF
Building Class
C
Year Built
1968
Price
$5,895,000
Price Per SF
$70.96
Cap Rate
5.55%
NOI
$326,913
Percent Leased
55%
Tenancy
Multiple
Building Height
1 Story
Loading Docks
2 Exterior
Building FAR
0.31
Lot Size
6.23 AC
Zoning
C-2 - Commercial
Parking
390 Spaces (4.69 Spaces per 1,000 SF Leased)
Amenities
- Pylon Sign
- Signage
- Signalized Intersection
Property Taxes
| Parcel Number | R0049450 | Improvements Assessment | $378,300 |
| Land Assessment | $211,764 | Total Assessment | $590,064 |
Property Taxes
Parcel Number
R0049450
Land Assessment
$211,764
Improvements Assessment
$378,300
Total Assessment
$590,064
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