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    401 N Grove Marshall, TX 75670

    View on Map
    For Sale
    $315,000

    Office - Marshall, TX

    Type:Office
    Added:
    Dec 5, 2025
    Days on Market:
    116
    Last Refresh:
    Mar 31 at 8:06 pm

    Property Features for 401 N Grove

    General Information

    Property type
    Commercial Sale
    Property subtype
    Office
    Parking features
    Paved or Surfaced
    Security features
    Fire Alarm
    Interior features
    Fire Alarm
    Standard status
    Active

    Building Details

    Year built
    1975
    Number of units
    1
    Building materials
    Brick
    Roof type
    Flat
    Architectural style
    Other

    We can help!

    Listing Contact
    Tanner Terry
    Tanner Terry

    Listing agent Tanner Terry

    Listing office Teri Norwood Real Estate Team 3106 Gilmer Rd., Longview, TX

    Listing date Dec 5, 2025

    MLS# 20258166 Listing URL

    Copyright © 2026 Longview Area Association 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.

    Overview

    Functional Office Space For Sale

    This former medical clinic offers 5,220 square feet of functional space, making it suitable for healthcare, therapy, or professional office use. The property includes 14 private offices or exam rooms, along with two spacious waiting rooms, a break room, and a reception/administrative area. The layout is designed for efficiency and comfort, capable of supporting multiple providers or departments. Ample on-site parking, strong visibility, and convenient access to major roadways enhance the property's appeal for medical, dental, or professional service users. Located near hospitals, pharmacies, and retail centers in Marshall, Texas, the site presents a prime location for continued healthcare use or conversion to general office space. The property is ready for immediate occupancy.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    East Tx Border ... Medical Clinic Dr. David L. ... Physician Gandhi Hetal N ... Physician Eva Mollinedo Foster Care Service

    Suggested Use

    Real Estate Agency Restaurant Law Firm Spa & Massage Center Dental Office Hair Salon Nail Salon Building Supply Auto Repair Shop Gym & Fitness Center

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

    Similar Places Nearby

    • Wellington Street Animal Hospital, PLLC — 307 S Wellington St, Marshall, TX 75670

    Location Insight

    • Map
    • Local Demand
    City
    Marshall
    County
    Harrison
    State
    Texas
    Longitude
    -94.371615
    Latitude
    32.547769

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    FAQs

    What type of property is this?
    Medical Office Space - 5,220 SF office space suitable for healthcare or professional use.
    Where is this medical office space located?
    The property is located at 401 N Grove Marshall, TX.
    What is the asking price?
    The asking price for this property is $315,000.
    What are key features of this property?
    This property features: 5,220 sq ft of functional space suitable for healthcare, therapy, or professional office use.; Features **14 private offices/exam rooms**, 2 waiting rooms, break room, and reception area.; Ample on‑site parking, strong visibility, and convenient access to major roadways.
    (903) 220-3890
    We can help!
    Listing Contact
    Tanner Terry
    Tanner Terry
    Real Estate License ID: 0699929
    Learn More
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    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
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