Add Listing
    For Sale
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    Land with Grand Lake View Title is generated by Realmo AI

    2609 Lake Rd 3, Grove, OK 74344

    View on Map
    Claim this Listing
    For Sale
    $139,000

    LAND - Grove, OK

    Lot size:
    1.77 Acres
    Added:
    May 8, 2025
    Days on Market:
    394
    Last Refresh:
    Jun 5 at 4:06 am

    Property Features for 2609 Lake Rd 3

    General Information

    Property type
    Land
    Property subtype
    Other
    Rooms
    Basement
    Standard status
    Active
    APN
    210036849
    Lot size
    1.77 Acres

    Taxes and HOA fees

    Tax Year
    2024
    Tax Description
    ALL THAT PART OF THE S1/2 SW1/4 SE1/4 SW1/4 OF SECTION 8, TOWNSHIP 24 NORTH, RANGE 24 EAST, DELAWARE COUNTY, OKLAHOMA
    Tax Annual Amount
    698

    Utilities

    Sewer type
    Public Sewer
    Water source
    Public

    We can help!

    Listing Contact
    Brian Elder
    Brian Elder

    Listing agent Brian Elder License #EB00076114

    Listing office Elder and Company 2225 S Main Street, Grove, OK

    Listing date May 8, 2025

    MLS# 25-956 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.

    HighLights

    • Excellent location near Grove amenities with a view of Grand Lake.
    • 1.77 +/- acres of level land.
    • Boasts 500' of street frontage.
    • City water, city sewer, and electric available on the road.
    • Seller financing available.
    • Public water source and sewer.

    Overview

    This 1.77 acre parcel of level land is located in close proximity to the amenities of Grove, OK, and offers a view of Grand Lake. The property features 500 feet of street frontage and has city water, city sewer, and electric available on the road. Seller financing is a possibility.
    Property Profile Location Intelligence

    Current Use by Public Records

    Commercial land

    Suggested Use

    Law Firm Real Estate Agency Restaurant 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.

    Location Insight

    • Map
    • Local Demand
    City
    Grove
    County
    Delaware
    State
    Oklahoma
    Longitude
    -94.767237
    Latitude
    36.569078

    Nearby Similar for Sale

    • $899,000
      11,400 SF

      Highway 59 Commercial Opportunity

      Versatile commercial building on 2.1 acres with highway frontage.
      9640 Hwy 59, Grove, OK 74344
      View Details
    • $1,250,000
      7,681 SF

      Turnkey Lakefront Resort Property

      Fully renovated resort with updated accommodations, pool, private lake access, boat ramp, and 10-slip dock.
      1561 110th Street NW, Grove, OK 74344
      View Details
    • $475,000
      4,000 SF

      Versatile Commercial Property Near Highway

      4,000+/- sqft commercial property with office and insulated shop.
      64050 E 290 Road, Grove, OK 74344
      View Details
    • $345,000
      1,740 SF

      Commercial Property on Highway 59

      Commercial property with high-visibility frontage and drive-thru.
      310 E 3rd Street, Grove, OK 74344
      View Details
    • $879,200
      3,804 SF

      Luxury Office Building with Lake Views

      Newly renovated office building with lake views and premium finishes.
      2330 S Main Street, Grove, OK 74344
      View Details
    • $945,000
      15,302 SF

      Waterfront Property on Wolf Creek

      3-acre waterfront property with redevelopment potential on Wolf Creek.
      1511 98th Street NW, Grove, OK 74344
      View Details
    • $699,000
      2,464 SF

      Prime Commercial Building in Grove

      Turn-key commercial building suitable for office, medical, or retail.
      700 S Main Street, Grove, OK 74344
      View Details
    • $194,000
      2,564 SF

      Commercial Property in Grove, Oklahoma

      Bar/Restaurant/Retail property on almost an acre in Grove, OK.
      26601 S 655 Road, Grove, OK 74344
      View Details
    • $425,000

      Grove, OK - Highway Frontage

      4.5 acres with highway frontage near downtown and boat ramp.
      5530 US-59, Grove, OK 74344
      View Details
    • $350,000
      5,288 SF

      Commercial Property with Highway Frontage

      Commercial property featuring highway frontage, multiple buildings, and versatile spaces.
      6819 U.S. 59, Grove, OK 74344
      View Details
    • $1,975,000
      7,000 SF

      LakeTime Business Center - Grove, OK

      Income-producing commercial property with office spaces and storage units.
      25100 U.S. 59, Grove, OK 74344
      View Details
    • $69,000

      Grove, OK Commercial Land

      Prime commercial land with utilities in Grove, Oklahoma.
      806 Industrial Road, Grove, OK 74344
      View Details

    FAQs

    What type of property is this?
    Commercial land - 1.77 acre commercial land with utilities and lake view.
    Where is this commercial land located?
    The property is located at 2609 Lake Rd 3 Grove, OK.
    What is the asking price?
    The asking price for this property is $139,000.
    What are key features of this property?
    This property features: Excellent location near Grove amenities with a **view of Grand Lake**.; 1.77 +/- acres of level land.; Boasts 500' of street frontage.
    (918) 786-3854
    We can help!
    Listing Contact
    Brian Elder
    Brian Elder
    Real Estate License ID: EB00076114
    Request Owner's contact information
    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.
    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
    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

    Thank You for Inquiry
    2609 Lake Rd 3, Grove, OK 74344
    letter with green check mark
    Check your email
    We sent you the
    agent's contact details. yellow underline
    Can't find it?
    Please check your junk/spam folder.
    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!