1400 24Th AveNorman, OK 73072

Property Details for 1400 24Th Ave

Year built

1984

Construction

WOOD FRAME

Lot size

0.32 AC

Property size (Sq ft)

3,984 SF

Property type

Retail space

APN

NC29THOMP 1 1001

APU

NC29THOMP11001

Description

University Town Center offers prime retail space for lease. This Class B shopping center boasts a total of 566,747 square feet and features multiple tenancies. Currently, four spaces are available, ranging from 2,100 to 6,978 square feet, providing flexibility for various retail businesses. Located near Robinson, the property is zoned C-3. The center enjoys exceptional foot traffic, ranking #17 out of 7,428 community shopping centers with approximately 10 million annual visits. This impressive figure is further amplified by the fact that 48% of shoppers reside more than 10 miles away, generating approximately 5 million visits from outside the immediate area. Considering Norman's population of 125,000, the center's annual visits outnumber city residents by a factor of 40. This high volume of traffic presents a unique opportunity for businesses seeking significant exposure and customer reach within a thriving retail environment. The property's strategic location and high visitor count make it an ideal investment for retailers seeking substantial growth potential.

• CAP approach

  CAP return

  Valuation

  6%

  $1,044,147

  6.5%

  $963,828

  7%

  $894,983

• Comparable approach

  Method

  Valuation

  Relative Method

  $1,207,974

  Geo Method

  $1,207,974

• Alternative Use

  Use

  Valuation

  Residential

  $813,025

  Hospitality

  $744,726

  Educational

  $619,603

  Medical

  $640,913

  Retail

  $963,828

Location Insight

City

Norman

County

Cleveland

State

Oklahoma

Latitude

35.2014

Longitude

-97.4775

CBSA code

36420

CBSA name

OKLAHOMA CITY, OK METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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