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    24850 640 Rd Grove, OK 74344

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    24850 640 Rd Grove, OK 74344

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    • Distribution centers
    Off-Market
    Property ID
    US69-2390606
    The Realmo ID is a unique identifier assigned to every property, incorporating country codes and precise geo-coordinates for 300x300-foot land blocks. It enables standardized data collection and seamless integration of disparate sources such as ownership, tax, title data and physical specifications. By aggregating current and historical records, the Realmo ID powers advanced analytics and delivers deep, verifiable insights for real estate professionals.
    Value Estimations
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Distribution centers

    Property Details for 24850 640 Rd

    Property type
    Distribution centers
    Property subtype
    Manufacturing properties

    Description

    This turnkey manufacturing operation in Grove, Oklahoma, presents a unique investment opportunity. Priced at $450,000, the property encompasses two substantial buildings situated on a sizable lot at 24850 S 640 Rd, Grove, OK 74344. The main office building, approximately 1200 square feet, features an office bathroom and ample storage space. A second, larger metal building measures 60x40 feet, boasting exceptionally high ceilings exceeding 25 feet, ideal for manufacturing processes. Currently utilized for the successful production and sale of septic tanks and storm shelters, this established business is offered for sale as a complete package. All necessary equipment and operational forms are included, allowing for a seamless transition for the new owner. The business is currently profitable, providing a strong foundation for continued growth and success. This comprehensive offering includes the land, buildings, established business, and all associated assets, presenting a rare opportunity to acquire a thriving enterprise with significant potential. The property's location in Grove, Delaware County, Oklahoma offers access to key transportation routes and a supportive business environment. This is an exceptional opportunity for an entrepreneur seeking a profitable, established business with significant upside.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

    Get a detailed, property-specific estimation — fast and free

    Location Insight

    • Map
    • Local Demand
    City
    Grove
    County
    Delaware
    State
    Oklahoma
    Longitude
    -94.726845
    Latitude
    36.604618

    Comparable in this City

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      Versatile Grove Commercial Estate

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      Grove 7 Movie Theater

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      1.5-Acre Property with Shop/Garage

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      4,000 SF

      Highway 10 Commercial Property

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      Versatile Commercial Property Near Highway

      4,000+/- sqft commercial property with office and insulated shop.
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      Highway 59 Commercial Opportunity

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    Similar Nearby for Sale

    • $1,995,000
      15.00 Acres

      Versatile Grove Commercial Estate

      15-acre multi-use property ideal for live/work lifestyle and recreation.
      602 W 39Th St, Grove, OK 74344
      View Details
    • $1,350,000
      16,360 SF

      Grove 7 Movie Theater

      Movie theater with business fixtures on 4.5 acre parcel.
      1109 3Rd St, 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
    • $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
      4,000 SF

      Highway 10 Commercial Property

      Commercial property off Highway 10 with multiple buildings.
      64050 E 290 Rd, 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 Rd, Grove, OK 74344
      View Details
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    Grove, OK 74344
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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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