115 Main StNorman, OK 73069

Property Details for 115 Main St

Year built

1920

Construction

MASONRY/CONCRETE MASONRY UNITS (CMUS)

Lot size

0.07 AC

Property size (Sq ft)

3,120 SF

Property type

Retail space

APN

NC29AAAOT 5 8001

APU

NC29AAAOT58001

Description

This exceptional investment opportunity presents a 6,000-square-foot commercial property located at 115 W Main St, Norman, OK 73069. Situated on a 0.16-acre lot in Cleveland County, this single-story, 1920-built building boasts a prime location in the heart of Norman's vibrant downtown. Currently zoned for Urban Commercial Land, the property's versatility allows for a range of uses, including bar, restaurant, and storefront operations. Its strategic placement next to the well-established Benvenuti's Italian Restaurant ensures high visibility and foot traffic. The asking price is $550,000. This property offers a unique blend of historical charm and modern commercial potential, making it an ideal investment for discerning buyers seeking a thriving location in a bustling Oklahoma city. The building's substantial size provides ample space for various business ventures, while its established location guarantees a strong foundation for success. Don't miss this chance to own a piece of Norman's Main Street history.

• CAP approach

  CAP return

  Valuation

  6%

  $817,705

  6.5%

  $754,805

  7%

  $700,890

• Comparable approach

  Method

  Valuation

  Relative Method

  $946,004

  Geo Method

  $946,004

• Alternative Use

  Use

  Valuation

  Residential

  $636,706

  Hospitality

  $583,219

  Educational

  $485,232

  Medical

  $501,919

  Retail

  $754,805

Location Insight

City

Norman

County

Cleveland

State

Oklahoma

Latitude

35.2215

Longitude

-97.4428

CBSA code

36420

CBSA name

OKLAHOMA CITY, OK METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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