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Front exterior — 231 E Gray Street, Norman, OK 73069
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Front exterior — 231 E Gray Street, Norman, OK 73069
Photo 2 — 231 E Gray Street, Norman, OK 73069
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231 E Gray Street, Norman, OK 73069
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Norman, OK 73069

$460,000 −8.0% since listing

231 E Gray Street, Norman, OK 73069

2,616 sq ft · Built 1960

$176
per sq ft
52
days listed
0.16
acre lot

The details

Type
Office
Year built
1960
MLS #
1242282

About this home

Located at the corner of a key intersection in the heart of Downtown Norman, offering high visibility and accessible location in one of the city’s most active and desirable areas. Its corner positioning provides strong frontage and exposure, making it an ideal site for a variety of commercial or mixed-use opportunities. Gray Street has recently been fully reconstructed by the City, featuring new sidewalks, updated lighting, improved drainage, and reconfigured street parking. These upgrades have enhanced both the functionality, value and appeal of the corridor, supporting increased foot traffic and long-term investment in the surrounding area. The property is currently zoned C-3 commercial, allowing for a wide range of uses. This site also presents an opportunity for a mixed-use concept through rezoning, aligning with the continued evolution and momentum of Downtown Norman. Just minutes from Campus Corner, the University of Oklahoma, and a growing mix of local businesses, 231 East Gray Street is well-situated for an owner or investor looking to be part of the next phase of Downtown Norman growth.

Price history

Back on market
Nov 1, 2026
Status change
Oct 30, 2026
Price reduced$460,000
Oct 27, 2026 · −$10,000 (2.1%)
Price reduced$470,000
Sep 21, 2026 · −$30,000 (6.0%)
Listed for sale
Aug 1, 2026

History from MLS records since this home was listed.

Monthly cost

— / month

Principal, interest, taxes, insurance, and HOA.

Assumes a $460,000 price, 20% down, 30-year fixed rate at 7.24% (APR 7.24%). Includes taxes and insurance; mortgage insurance not included. APR assumed equal to the rate; actual APR will be higher with lender fees. Estimate only. Not a loan offer or commitment.

Principal & interest
—
Property taxes
—
Home insurance
—
HOA
—

Planning estimate, not a quote. Rate and insurance are editable assumptions. Taxes can change after purchase; confirm HOA dues and their frequency. Mortgage insurance, closing costs, and maintenance are not included.

Rate: Freddie Mac Primary Mortgage Market Survey 30-year fixed average for the week of Oct 29, 2026, via FRED. An average, not a quote.

Insurance: about $5,800/yr for a $300,000 Oklahoma home, scaled by price (Oklahoma average, InsuranceNewsNet and Insurify 2026 studies). Your quote depends on the home, roof, deductible and insurer.

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Liberty Link Group · licensed insurance agency

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Affiliated Business Arrangement disclosure: Homestead & Co's owner has an ownership interest in Liberty Link Group, an insurance agency. Because of that relationship, this referral may provide the owner a financial or other benefit.

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Kurt Swink · Financial Concepts Mortgage

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Relationship disclosure: Homestead & Co's owner is a licensed mortgage loan officer with Financial Concepts Mortgage. Because of that relationship, this referral may provide the owner a financial or other benefit.

You are not required to use Financial Concepts Mortgage or Kurt Swink. You are free to choose any lender, and shopping more than one lender may save you money.

Homestead & Co and its agents are paid no fee for this referral.

Leave this unchecked and they will contact you by email only.

Kurt Swink, NMLS #207515 · Financial Concepts Mortgage, NMLS #181632.

This is not a loan application, a rate quote, an offer of credit or a commitment to lend. Loan approval depends on the lender's review.

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MLSOK Listing provided courtesy of Morgan Duke, Heather & Company Realty Group ((405) 735-1777). Status: Active.

Listings courtesy of MLSOK as distributed by MLS GRID.

Based on information submitted to the MLS GRID as of Nov 1, 2026, 9:01 PM CT. All data is obtained from various sources and may not have been verified by broker or MLS GRID. Supplied Open House Information is subject to change without notice. All information should be independently reviewed and verified for accuracy. Properties may or may not be listed by the office/agent presenting the information. Some IDX listings have been excluded from this website.

Properties displayed may be listed or sold by various participants in the MLS, as established by the applicable MLS Governing Documents.

The listing information provided here is for consumers' personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. Any use or search of this data other than by a consumer looking to purchase real estate is prohibited.

Data last updated Nov 1, 2026, 9:01 PM CT. MLS # 1242282. Homestead & Co is a licensed Oklahoma real estate brokerage.

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$460,000 −8.0%
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