- For Sale $2,200,000
- Property Type Retail - Strip
- Property Size 19,455 SF
- Units 10
- Lot Size 0.81 Acre
- Property Tenancy Multi-Tenant
- Year Built 1974
- Date Updated Jun 1, 2026
Description
Located just of Main Street, immediately east of 24th Ave SW and within 1/4 mile of on/off ramps at I-35.Fully occupied retail strip center located amongst Norman's busiest retail corridor, 24th Ave SW and W Main St. This legacy property has been well-maintained and owned by the same family since 1987. The property presents an excellent value-add opportunity as lease rates have remained below market. By increasing rents, which could be done immediately as all leases are month-to-month, 9%+ cap rate are reasonable to expect based off of conservative rent estimates. Tenancy includes several long-standing, well known businesses in the Norman community.
Highlights
- 9% + cap rate potential based off conservative pro forma model
- All leases are month-to-month
- Signal at intersection
- Tenant mix includes long-term, highly revered community businesses
- Traffic count of over 26,000 vpd along W. Main St.
- Value add opportunity to increase rents to near market
- Well maintained property with little deferred maintenance
False
Contacts
Ryan Gilliland
Fleske Commercial Group
Location
Located at 203 Hal Muldrow Dr, Norman, OK 73069, this property is part of the Jackson neighborhood and Oklahoma City market.
Contact Listing Broker
Ryan Gilliland
Fleske Commercial Group
