Sign Up Successful!
You now have access to more from Realmo!
    For Sale
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    Back to Search
    The Largest CRE Database in the US with Over 1 Million Listings

    16Th St N Grove, OK 74344

    Sponsored
    For Sale
    $39,500

    LAND - Grove, OK

    Lot size:
    0.41 Acres
    Days on Market:
    17
    Last Refresh:
    Jan 22 at 3:06 am

    Property Features for 16Th St N

    General Information

    Property type
    Land
    Property subtype
    Other
    Standard status
    Active
    Zoning
    Commercial
    Rooms
    Basement
    APN
    2100811645
    Lot size
    0.41 Acres

    We can help!

    Listing Contact
    Janiece Elder
    Janiece Elder

    Elder & Co Realtors (918) 786-3854 [email protected]

    Listing agent Janiece Elder

    Listing date Jan 6, 2026

    MLS# 25-1206 Listing URL

    Copyright © 2026 Northeast Oklahoma Board of Realtors. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.

    Learn more

    Property Insight Report

    Overview

    Commercial Lot in Grove, OK

    This commercial lot is located at the intersection of Highway 59 N and 16th Street in Grove, Oklahoma. The property is zoned for commercial use and offers various possibilities. It features 192 feet of highway frontage and has a lot size of 0.41 acres.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Commercial land

    Suggested Use

    Restaurant Realty agency Law Firm Building Supply Dental Office Spa & Massage Wholesale Shop Auto Repair Shop Hair Salon Clothing Store

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Grove
    County
    Delaware
    State
    Oklahoma
    Longitude
    -94.784642
    Latitude
    36.59817

    Nearby Similar for Sale

    • $925,000
      5,000 SF

      Commercial Property with Highway Frontage

      2.98-acre commercial property with renovated building, storage, and highway access.
      65252 E 290 Rd, Grove, OK 74344
      View Details
    • $995,000
      15,302 SF

      Waterfront Property on Wolf Creek

      3-acre waterfront property on Wolf Creek with redevelopment potential.
      1511 98Th St NW, Grove, OK 74344
      View Details
    • New
      $350,000
      5,288 SF

      Commercial Property with Highway Frontage

      Commercial property featuring highway frontage, multiple buildings, and versatile spaces.
      6819 S 59, Grove, OK 74344
      View Details
    • $350,000
      6,400 SF

      Main Street Commercial Property, Grove

      Commercial property on Main Street in Grove, Oklahoma for sale.
      212 S Main St, Grove, OK 74344
      View Details
    • $350,000
      6,400 SF

      Main Street Commercial Property, Grove

      Commercial property on Main Street in Grove, Oklahoma, near Grand Lake.
      212 S Main St, Grove, OK 74344
      View Details
    • $3,400,000
      6,000 SF

      Grove OK Farm/Estate on Creek

      Picturesque 40-acre estate with creek, manor, and equestrian facilities.
      33021 S 625 Rd, Grove, OK 74344
      View Details
    • $2,295,000
      15,800 SF

      Grove OK Multi-Use Estate

      Versatile 15-acre property ideal for live/work, events, and recreation.
      602 W 39Th St, Grove, OK 74344
      View Details
    • $200,000
      Pending

      Turnkey Short-Term Rental Portfolio

      Fully furnished cabins and RV pads near Grove, Oklahoma.
      62141 E 313 Rd, Grove, OK 74344
      View Details
    • $450,000
      4,590 SF

      Grove, OK Mini Storage Investment

      High-visibility mini storage facility with expansion potential near Grand Lake.
      Grove, OK 74344
      View Details
    • $749,000
      2,464 SF

      High-Traffic Commercial Building in Grove

      Turn-key commercial building suitable for office, medical, or retail use.
      700 S Main St, Grove, OK 74344
      View Details
    • $875,000
      1 SF

      Pelican Bay Mobile Home Resort

      Mobile home resort with waterfront and growth potential in Grove.
      2241 Pelican Dr, Grove, OK 74344
      View Details
    • $895,000
      10,000 SF

      Event Center in Grove, OK

      10,000 sq ft event center on 7 acres.
      Grove, OK 74344
      View Details

    FAQs

    What type of property is this?
    Commercial land - Commercial land for sale with highway frontage in Grove, OK.
    Where is this commercial land located?
    The property is located at 16Th St N Grove, OK.
    What is the asking price?
    The asking price for this property is $39,500.
    What are key features of this property?
    This property features: - Highway 59 N & 16th St Location; - Commercial Lot; - 192' of Highway Frontage
    (479) 750-2773
    Request Owner's contact information
    16Th St N Grove, OK 74344
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    16Th St N
    Grove, OK 74344
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    16Th St N Grove, OK 74344
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    We can help!
    Listing Contact
    Janiece Elder
    Janiece Elder
    Real Estate License ID: PB00055591
    (479) 750-2773
    Learn more
    Google sign-in failed. Please try again or use another login method.
    Create New Password
    • At least 8 characters
    • Contains both letters and numbers
    • Contains uppercase and lowercase letters
    • At most 32 characters
    • Password required
    • Password reset link has expired. Please request a new one.