List Search

1702 & 1722 S Main st
Grove, OK 74344

$9,050,000 USD

Storefront For Sale  •  62,225 SF

Property Details

  • Property Type Storefront
  • Total Building Size 62,225 SF
  • Lot Size 5.25 AC
  • Year Built 2000
  • Cap Rate 6.67 %
  • Tenancy Multiple
0 Transit Score
45 Walk Score

Highlights

The Shoppes of Grove boasts a strong national tenant mix, including Ross Dress For Less, Marshalls, Bealls, and a Starbucks outparcel.
WALT of over 8 years, providing longterm passive investment with minimum landlord responsibilities.
Over 68% of the income stream is guaranteed by investment-grade credit, providing a new investor with a high level of long-term security.
100% of the tenants have increases every 5 years, providing a consistent hedge against inflation.
Providing a new buyer opportunity to sell Starbucks separately in the future.
Leases negotiated in 2022 resulting in below market rents and low cost per square foot to the new investor.
Cap Rate: 6.67 %

Major Tenants

Tenant SF Occupied Lease End Date
Burkes Outlet (Bealls) 20,000 SF 1/30/2035
Marshalls 22,000 SF 9/29/2034
Ross Dress For Less 18,000 SF 1/31/2035
Daniel Hoogesteger 310-853-1419 Sands Investment Group
Daniel Hoogesteger 310-853-1419 Sands Investment Group