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    Blanchard Land Ready For Development Title is generated by Realmo AI

    2045 Grove Lane, Blanchard, OK 73010

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    Claim this Listing
    For Sale
    $900,000

    LAND - Blanchard, OK

    Lot size:
    20.86 Acres
    Added:
    Jan 22, 2026
    Days on Market:
    122
    Last Refresh:
    May 24 at 1:06 pm

    Property Features for 2045 Grove Lane

    General Information

    Property type
    Land
    Property subtype
    Other
    Zoning
    Residential
    Standard status
    Active
    APN
    2045NONEGrove73010
    Lot size
    20.86 Acres

    Utilities

    Water front
    1

    We can help!

    Listing Contact
    Deborah Allison
    Deborah Allison

    Listing agent Deborah Allison License #140437

    Listing office Deborah Allison Real Estate 28398 Ladd AVE, Washington, OK

    Listing date Jan 22, 2026

    MLS# 1211264 Listing URL

    Copyright © 2026 MLSOK, Inc. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.

    HighLights

    • 22.42 acres of platted tracts with 32 certified and surveyed lots ready for development.
    • Located in an unincorporated area with no city building permits required and lower taxes.
    • 32 approved water meters are ready for purchase.
    • Gravel road base is already cut in for easy access.
    • Access from SH62 (Elm Road/CR1340) and Winter Creek addition/Golf Course (CR1340).
    • Residential lots allow for shops up to 2400 sq. ft.

    Overview

    This 22.42-acre property features platted tracts in an unincorporated area, suitable for utility installation and residential development. A gravel road base is already in place. The site includes 32 certified and surveyed lots, platted with the Grady County Assessors office. Located outside city limits, the property benefits from more reasonable taxes and the absence of building permit requirements. The developers are selling all 32 lots of PHASE 2 and can transfer the existing HOA and CRR's, with the possibility of amendments to suit new owner plans. Residential lots are mostly 1/2 acre +/- and shops are allowed up to 2400 sq. ft. in the Hux Grove Phase 1 development. Phase 2 is easily accessible from SH62 at Elm Road aka CR1340, past the Timberlake Addition, or from the established Winter Creek addition & Golf Course, on CR1340. The site offers both waterfront and interior lots. Utilities in the area are serviced by Summit Natural Gas, OEC Electric & Fiber Optic High Speed Internet, with Pioneer also providing landlines and internet service. 32 water meters have been approved for the lots and are ready for developer or homeowner to purchase. Natural gas, electric services, and water lines are not yet installed, and each home will require DEQ private septic systems. Waste Connections is a popular trash pick-up service in the area. Parents have choices for the children and teens to attend school from Elementary to High School in this area of Blanchard, Middleberg, Dibble, Amber-Pocasset and Chickasha.
    Location Intelligence

    Current Use by Public Records

    Residential land & home ...

    Map

    City
    Blanchard
    County
    McClain
    State
    Oklahoma
    Longitude
    -97.617
    Latitude
    35.1068

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    FAQs

    What type of property is this?
    Residential land & home lot - 22.42 acres of platted tracts ready for utility installation.
    Where is this residential land & home lot located?
    The property is located at 2045 Grove Lane Blanchard, OK.
    What is the asking price?
    The asking price for this property is $900,000.
    What are key features of this property?
    This property features: 22.42 acres of platted tracts with **32 certified and surveyed lots ready for development.**; Located in an unincorporated area with no city building permits required and lower taxes.; **32 approved water meters are ready for purchase.**
    (405) 249-2810
    We can help!
    Listing Contact
    Deborah Allison
    Deborah Allison
    Real Estate License ID: 140437
    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.

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