601 Broadway StGrove, OK 74344

Property Details for 601 Broadway St

Year built

1981

Lot size

1.00 AC

Property size (Sq ft)

3,256 SF

Property type

Office buildings

APN

39448

APU

39448

Description

This exceptional 3,256 square foot commercial building, located at 601 S Broadway St in Grove, Oklahoma, presents a unique investment opportunity. Built in 1981, this single-story structure sits on a 0.16-acre lot and boasts 17 parking spaces, ensuring ample convenience for clients and staff. Previously utilized as a medical practice, the property is ideally suited for continued medical use or adaptation to other professional office needs. The building's layout includes two reception areas, multiple exam rooms, and several versatile office spaces, offering flexibility for various configurations. The adaptable design allows for the potential separation into spaces for multiple businesses. The building is ADA compliant and features ceiling heights ranging from 8 to 10 feet. Its prime location in a high-traffic area of Grove ensures excellent visibility and accessibility. The property is in excellent condition and is move-in ready. A virtual tour is available online. Zoned for commercial use, this property offers a strong return on investment in a thriving Oklahoma community. The asking price is $385,000.

• CAP approach

  CAP return

  Valuation

  6%

  $283,832

  6.5%

  $261,998

  7%

  $243,284

• Comparable approach

  Method

  Valuation

  Relative Method

  $232,902

  Geo Method

  $232,902

• Alternative Use

  Use

  Valuation

  Residential

  $324,878

  Hospitality

  $297,586

  Educational

  $247,588

  Medical

  $256,103

  Retail

  $385,138

Location Insight

City

Grove

County

Delaware

State

Oklahoma

Latitude

36.5901

Longitude

-94.7714

Property Tax & Assessments

FAQs

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