2500 Mcgee DrNorman, OK 73072

Property Details for 2500 Mcgee Dr

Lot size

3.95 AC

Property type

Office buildings

APN

NC29HPTOC 1 1001

APU

NC29HPTOC11001

Description

This single-story, Class B office building, totaling 34,479 square feet, presents a unique investment opportunity in Norman, Oklahoma. Built in 1962 and renovated in 2008, the property boasts 9 individual suites, ranging from a minimum of 132 square feet to a maximum contiguous space of 1,277 square feet. Currently, 4,394 square feet are vacant, offering flexibility for various tenants. The building sits on a spacious 3.24-acre lot at the northwest corner of McGee Drive and Highway 9, providing excellent visibility and accessibility. All utilities and janitorial services are included. The property's location in Cleveland, McClain County, offers a quiet and attractive setting, ideal for a range of professional services, including general office, dental, or medical practices. Ample parking is available for tenants and visitors. The building's cosmetic updates contribute to a modern and inviting atmosphere. This property is zoned for office use and offers a variety of suite configurations to accommodate diverse business needs. The address is 2500 McGee Dr, Norman, OK 73072.

• CAP approach

  CAP return

  Valuation

  6%

  $30,653,424

  6.5%

  $28,295,468

  7%

  $26,274,362

• Comparable approach

  Method

  Valuation

  Relative Method

  $20,686,738

  Geo Method

  $20,686,738

• Alternative Use

  Use

  Valuation

  Residential

  $35,086,380

  Hospitality

  $32,138,936

  Educational

  $26,739,216

  Medical

  $27,658,820

  Retail

  $41,594,336

Location Insight

City

Norman

County

Cleveland

State

Oklahoma

Latitude

35.194

Longitude

-97.4697

CBSA code

36420

CBSA name

OKLAHOMA CITY, OK METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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