Sign Up Successful!
You now have access to more from Realmo!
Property Lookup
    Property Lookup
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    Back to Search
    The Largest CRE Database in the US with Over 1 Million Listings
    Property profile & analytics

    700 S Main St Grove, OK 74344

    • Medical offices
    • 2,464 SF
    • 1.00 lot acres
    For Sale
    View listing
    $749,000
    Last Sale
    Nov 13, 2023
    $270,000
    Value Estimations
    Cap Rate Potential
    Location Intelligence
    Property ID
    US69-1538249
    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.

    Current Use by Public Records

    • Rapid Remedy / Mental Health Clinic

    Property Details for 700 S Main St

    Year built
    1971
    Construction
    FRAME
    Lot size
    1.00 lot acres
    Property size
    2,464 SF
    Property type
    Medical offices
    Property subtype
    Medical centers
    APN
    39400
    APU
    39400

    Description

    This 2,464 sq ft single-tenant medical office building in Grove, Oklahoma, is perfectly situated in the heart of Grand Lake's primary retail and professional corridor, boasting excellent visibility on S Main St/Hwy 10 (14,400 cars daily). Built in 1971 and completely renovated in 2024, the property features a spacious reception area, a front office, nurse station, multipurpose room, and ample storage. Ten exam rooms, each equipped with a sink, and two private restrooms provide ample space for a variety of medical practices. The building benefits from a brand new, zoned central heating and air-conditioning system. A prominent monument sign ensures high visibility, and the property includes its own parking lot. The building's convenient location offers easy access to Integris Hospital, Walmart, Lowe's, Harps Food Stores, Walgreens, Taco Bell, Sonic, and Starbucks. Zoned commercial, this property is offered as a NNN lease, with the tenant responsible for property taxes, insurance, rent, utilities, maintenance, and landscaping. This presents an exceptional opportunity for establishing a new practice or relocating an existing one to a thriving community in a high-growth area. Grove, Oklahoma, a vibrant city on Grand Lake O' the Cherokees, serves as the economic and cultural center of the region, attracting visitors year-round for its diverse recreational opportunities. The property is located at 700 S Main St, Grove, OK 74344, near the intersection of 7th Street, in Delaware County.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

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

    Location Insight

    • Map
    • Local Demand
    City
    Grove
    County
    Delaware
    State
    Oklahoma
    Longitude
    -94.7696
    Latitude
    36.5891

    Property Tax & Assessments

    Tax date
    Tax Amount
    Assessed Land Value
    Assessed Improvement Value
    Total Assessed Value
    Applied Tax Rate
    Land Market Value
    Improvement Market Value
    Total Market Value
    2023
    $2,387
    $6,469
    $22,692
    $29,161
    -
    $56,250
    $204,151
    $260,401

    Comparable in this City

    • Value Estimation by Request
      988 SF

      Grove, OK 74344

      MEDICAL BUILDING • 988 SF
      Grove, OK 74344
      View Details
    • Value Estimation
      $605,000
      4,989 SF

      Grove, OK 74344

      MEDICAL BUILDING • 4,989 SF
      Grove, OK 74344
      View Details
    • Value Estimation by Request
      13,595 SF

      601 13th St

      MEDICAL BUILDING • 13,595 SF
      601 13th St, Grove, OK 74344-2989
      View Details
    • Value Estimation by Request
      4,697 SF

      Main St

      MEDICAL BUILDING • 4,697 SF
      Main St, Grove, OK 74344
      View Details
    • Value Estimation
      $1,025,000
      10,121 SF

      58 Heffelman Dr

      MEDICAL BUILDING • 10,121 SF
      58 Heffelman Dr, Grove, OK 74344-4549
      View Details
    • Value Estimation
      $690,000
      21,228 SF

      900 13th St

      MEDICAL BUILDING • 21,228 SF
      900 13th St, Grove, OK 74344-2975
      View Details

    Similar Nearby for Sale

    • $749,000
      2,464 SF

      High-Traffic Commercial Building in Grove

      Turn-key commercial building suitable for office, medical, or retail use.
      700 S Main St, Grove, OK 74344
      View Details
    • $1,880,000
      13.00 Acres

      Prime Commercial Land Near Grand Lake

      13 acres of C-3 zoned commercial land on US Highway 59.
      25421 Us Highway 59, Grove, OK 74344
      View Details
    • $325,000
      1,124 SF

      Grove, OK Medical Office

      Commercial building with patient rooms, suitable for medical or office.
      106 S Broadway St S, Grove, OK 74344
      View Details
    • $350,000
      6,400 SF

      Main Street Commercial Property, Grove

      Commercial property on Main Street in Grove, Oklahoma, near Grand Lake.
      212 S Main St, Grove, OK 74344
      View Details
    • $775,000
      2,591 SF

      Grove Commercial Building on Main

      Commercial building in Grove, Oklahoma, with room for expansion.
      1001 S Main St, Grove, OK 74344
      View Details
    • $169,000
      1,104 SF

      Commercial Property in Prime Location

      Thriving commercial property with extra lot and ample parking space.
      403 S Center 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.
    700 S Main St
    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.