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    Turnkey Lakefront Resort Property Title is generated by Realmo AI

    1561 110th Street NW, Grove, OK 74344

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    For Sale
    $1,250,000

    COMMERCIAL - Grove, OK

    Property size:
    7,681 SF
    Lot size:
    1.43 Acres
    Price / SF:
    $162/SF
    Added:
    Jun 3, 2026
    Days on Market:
    1
    Last Refresh:
    Jun 3 at 11:06 pm

    Property Features for 1561 110th Street NW

    General Information

    Property type
    Commercial Sale
    Property subtype
    Other
    Rooms
    Basement
    Standard status
    Active
    APN
    210038873
    Size
    7,681 SF
    Lot size
    1.43 Acres

    Taxes and HOA fees

    Tax Year
    2025
    Tax Description
    GROVEPORT LOTS 11 & 12, BLK 14 2370-380
    Tax Annual Amount
    7502

    Utilities

    Sewer type
    Septic Tank
    Heating system
    Central, Electric (Heating)
    Cooling system
    Central Air
    Water source
    Public
    Water front features
    Lake, Lake Front
    Water front
    1

    Building Details

    Floors in Building
    1
    Building materials
    Brick, Frame
    Roof type
    Composition

    We can help!

    Listing Contact
    The Menard Group

    Listing agent The Menard Group

    Listing office Keller Williams Realty Grand Lake 102 E Third St, Grove, OK

    Listing date Jun 3, 2026

    MLS# 26-1292

    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.

    HighLights

    • Lakeside Grand Lake property with lake frontage and private lake access
    • Groveport Resort features 10+ units and has been fully renovated with renovations completed in recent years
    • Resort amenities include a pool, boat ramp, and a 10‑slip dock
    • Located just off Highway 59 near Sailboat Bridge
    • Utilities: public water and septic tank sewer
    • Brick and frame construction with central air cooling and central/electric heating; composition roof

    Overview

    This fully renovated lakeside resort offers modern comfort with established character, set up to host multiple guests with 10+ units. The property includes a pool, private lake access, a boat ramp, and a 10-slip dock, supporting both casual stays and hands-on days on the water. Outdoor amenities are built for the destination experience, including lake views, outdoor gathering areas, fire pits, and expansive shoreline access.

    Located at the lake near Grand Lake recreation, the resort is positioned just off Highway 59 near Sailboat Bridge, in an area recognized for bass fishing and year-round activities. Additional convenience comes from being close to Wolf Creek city boat ramp as well as local restaurants, shopping, entertainment, and Grand Lake attractions.

    With extensive renovations already completed, Groveport Resort is well suited for hospitality investors or entrepreneurs seeking a turnkey property in a premier Oklahoma lake setting. The accommodations and boating infrastructure support a range of demand, including vacationers, anglers, and extended-stay guests, while the property’s stated future development potential may appeal to buyers looking to expand beyond the current improvements.
    Property Profile Location Intelligence

    Current Use by Public Records

    Resorts

    Suggested Use

    Real Estate Agency Restaurant Spa & Massage Center Auto Repair Shop Hotel & Motel Discount Store Electrical Service Storage Facility (Bike/Boat/Book/etc) Store Furniture & Home Goods

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

    Location Insight

    • Map
    • Local Demand
    City
    Grove
    County
    Delaware
    State
    Oklahoma
    Longitude
    -94.81236
    Latitude
    36.632004

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    FAQs

    What type of property is this?
    Resort - Fully renovated resort with updated accommodations, pool, private lake access, boat ramp, and 10-slip dock.
    Where is this resort located?
    The property is located at 1561 110th Street NW Grove, OK.
    What is the asking price?
    The asking price for this property is $1,250,000.
    What are key features of this property?
    This property features: Lakeside Grand Lake property with lake frontage and private lake access; Groveport Resort features 10+ units and has been fully renovated with renovations completed in recent years; Resort amenities include a pool, boat ramp, and a 10‑slip dock
    (918) 335-5806
    We can help!
    Listing Contact
    The Menard Group
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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.

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