1702 & 1722 S Main st - Storefront FOR SALE


Grove, OK 74344
$9,050,000 USD
310-853-1419
1702 & 1722 S Main st, Grove, OK for Sale
$9,050,000 USD
Storefront - FOR SALE
1/5
null | 6.67% Cap Rate

1702 & 1722 S Main st
Grove, OK 74344


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.

OVERVIEW

Sands Investment Group is pleased to exclusively offer for sale the new construction 62,225 SF Shoppes of Grove featuring Ross, Marshalls, Bealls, and a 2,225 SF Starbucks outparcel located at the signalized intersection of S Main St & W 18th St in the city of Grove, Oklahoma. With a WALT of over 8 years and 68% of the GLA made up of investment-grade credit, this asset provides an investor with a long-term, secure income stream. Each lease features increases every 5 years, providing a hedge against inflation. The subject property is situated on the main retail arterial within the trade area and benefits from a destination location across the street from a Walmart Supercenter, Lowe's Home Improvement, and other high-profile retailers. Offered at below $146 PSF and a 6.67% CAP rate, this opportunity offers an attractive yield compared with alternative investment opportunities at below replacement cost. In Cooperation With Sands Investment Group Oklahoma LLC – Lic. #207753 BoR: Tom Gorman – Lic. OK #207754

FOR SALE DETAILS

PRICE

$9,050,000 USD

PRICE/SF

$145 USD /SF

CAP RATE

6.67%

% LEASED

-

TENANCY

Multiple

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

Shoppes of Grove - Grove, OK

PROPERTY TYPE

Retail

PROPERTY SUBTYPE

Storefront

ADD'L SUBTYPES

Storefront, Supermarket, Department Store

TOTAL BUILDING SIZE

-

STORIES

1

YEAR BUILT

2000

SPRINKLERS

-

PARKING SPACES

-

LAND DETAILS

LAND ACRES

5.25 AC

LAND SF

228,513 SF

ZONING

-

APN/PARCEL ID

0036874

ASK ABOUT THIS PROPERTY

Daniel HoogestegerSands Investment GroupMore Info
310-853-1419

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Daniel HoogestegerSands Investment GroupMore Info
310-853-1419

By clicking the button, you agree to Showcase's Terms of Use and Privacy Notice.