Add Listing
    Property Lookup
    • For Sale
    • For Lease
    • Sold
    • Property Lookup
    • Brokers
    1200 Neo Lp Grove, OK 74344

    Property Lookup

    Back to Search
    The Largest CRE Database in the US with Over 1 Million Listings
    Property profile & analytics

    1200 Neo Lp Grove, OK 74344

    View on Map
    • Office properties & Spaces
    • 7,900 SF
    • 1.83 lot acres
    Off-Market
    Value Estimations
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Office properties & Spaces

    Property Details for 1200 Neo Lp

    Year built
    2003
    Lot size
    1.83 lot acres
    Property size
    7,900 SF
    Property type
    Office properties & Spaces

    Description

    This exceptional 7,900 square foot executive office building presents a compelling investment opportunity in Grove, Oklahoma. Situated on a spacious 1.8-acre lot, this single-story, 2003-built property offers significant flexibility. The building features two distinct, fully functional sides, ideal for multi-tenant occupancy or a customized single-tenant configuration. Each side includes a welcoming reception area, enhancing the professional image. One side boasts multiple individual offices, a private office with a full bath/shower, ample storage and utility areas, a break room/kitchen, and a convenient pull-through garage. The other side offers several office areas and a large open space adaptable to various needs. The property is zoned Uc Comm and features 8-10 foot ceilings. With its prime location in the Grand Lake community and substantial square footage, this property is perfectly suited for businesses seeking a prominent presence in the area. The asking price is $1,200,000, translating to $151.90 per square foot. The property's APN is 210067517. A virtual tour is available online.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

    Location Insight

    • Map
    • Local Demand
    City
    Grove
    County
    Delaware
    State
    Oklahoma
    Longitude
    -94.7528
    Latitude
    36.5843

    Comparable in this City

    • Value Estimation by Request
      5,700 SF

      1111 Neo Lp

      Medical Office Space • 5,700 SF
      1111 Neo Lp, Grove, OK 74344
      View Details
    • Value Estimation by Request

      24850 640 Rd

      Distribution properties
      24850 640 Rd, Grove, OK 74344
      View Details
    • Value Estimation by Request
      6,400 SF

      212 Main St

      Office properties & Spaces • 6,400 SF
      212 Main St, Grove, OK 74344
      View Details
    • Value Estimation by Request
      6,400 SF

      212 Main St

      Office properties & Spaces • 6,400 SF
      212 Main St, Grove, OK 74344
      View Details
    • Value Estimation by Request
      1,460 SF

      5 14th St

      MEDICAL BUILDING • 1,460 SF
      5 14th St, Grove, OK 74344-5347
      View Details
    • Value Estimation by Request
      1,300 SF

      1307 Main St

      OFFICE BUILDING • 1,300 SF
      1307 Main St, Grove, OK 74344
      View Details

    Similar Nearby for Sale

    • $87,000
      1,800 SF

      1.5-Acre Property with Shop/Garage

      1.5-acre property with 1,800 sq. ft. shop/garage.
      62083 E 336 Ln, Grove, OK 74344
      View Details
    • Contact for pricing
      11,400 SF

      Highway 59 Commercial Building

      11,400 sq ft commercial building on 2.1 acres.
      9640 Us Highway 59, Grove, OK 74344
      View Details
    • New
      $350,000
      6,400 SF

      Main Street Commercial Property, Grove

      Exceptional commercial property on Main Street in Grove, Oklahoma.
      212 S Main St, 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 St, Grove, OK 74344
      View Details
    • New
      $345,000
      1,740 SF

      Commercial Property on Highway 59

      Commercial property with high-visibility frontage and drive-thru.
      310 E 3Rd St, Grove, OK 74344
      View Details
    • $350,000
      6,400 SF

      Main Street Commercial Property, Grove

      Exceptional commercial property on Main Street in Grove, Oklahoma.
      212 S Main St, Grove, OK 74344
      View Details
    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.
    1200 Neo Lp
    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
    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

    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!