Sign Up Successful!
You now have access to more from Realmo!
    For Sale
    • 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

    12 3Rd St Mayville, ND 58257

    Sponsored
    For Sale
    $134,400

    Nine-office space, high traffic area, great opportunity.

    Property size:
    3,849 SF

    Description

    Added:
    Feb 3, 2025
    Days on Market:
    365
    This exceptional commercial property, located at 12 3rd Street SE in Mayville, North Dakota, presents a compelling investment opportunity. The building offers a generous 3,849 square feet of space, ideally suited for a variety of commercial uses. Its prime location on a busy road ensures high visibility and accessibility, making it an attractive option for businesses seeking a strong presence in the Mayville market. The property features nine well-appointed offices, providing ample room for individual workspaces or team collaboration. The 0.15-acre lot offers convenient parking and potential for future expansion. The asking price of $134,400 represents excellent value for a property of this size and location, offering a significant return on investment for the discerning buyer. This multi-office space is perfect for established companies looking to expand their operations or for startups seeking a strategic location to launch their business. The property's versatile layout and prime location make it an ideal choice for a wide range of commercial ventures. Don't miss this chance to secure a thriving business location in a dynamic market. The property is ready for immediate occupancy, allowing for a swift and seamless transition for your business. This is a rare opportunity to acquire a well-maintained commercial property in a desirable location at an attractive price point.

    Property Features for 12 3Rd St

    General Information

    Property type
    Other commercial real estate
    Square Feet
    3,849 SF
    Lot Size
    6,534 SF

    Building Details

    Year Built
    1953

    We can help!

    Listing Contact
    Cassie Braaten

    Learn more

    Property Insight Report
    Property Profile Location Intelligence

    Current Use by Public Records

    Southeastern ND Community Social Service Agency Traill County Tribune Publishing House

    Suggested Use

    Restaurant Real Estate Agency Law Firm Building Supply Spa & Massage Center Dental Office Big Box & Wholesale Store Auto Repair Shop Hair Salon Nail Salon

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Mayville
    County
    Traill
    State
    North Dakota
    Longitude
    -97.32426
    Latitude
    47.4983

    Nearby Comparable

    • $350,000
      4,680 SF

      Hillsboro Office Building For Sale

      4680 SF office building with leaseback option in Hillsboro.
      3 N Main St, Hillsboro, ND 58045
      View Details
    • $400,000
      3,816 SF

      Thriving Halstad Bar & Tavern

      Turnkey bar, high revenue, loyal clientele.
      675 Us Highway 75, Halstad, MN 56548
      View Details
    • $488,732
      3.74 Acres

      Grand Forks Industrial Land - 3.74 Acres

      Prime Industrial Land, Grand Forks, ND
      7251 42Nd St, Grand Forks, ND 58201
      View Details
    • $1,000,000
      2.79 Acres

      South Grand Forks Multifamily Land

      Prime 2.79-Acre Residential Lot
      6150 Kings View Dr, Grand Forks, ND 58201
      View Details
    • $3,300,000
      12,196 SF

      Grand Forks Office Park Investment

      Modern Office Park, 12,196 SF, 80% Occupied
      4303 Columbia Rd, Grand Forks, ND 58201
      View Details
    • $469,000
      2,484 SF

      Modern Office Space For Sale

      Contemporary office space in a growing Grand Forks location.
      4500 36Th Ave S, Grand Forks, ND 58201
      View Details
    • $3,150,000
      12,196 SF

      SOCO 4399: Grand Forks Office Park

      Modern Grand Forks Office Building, High Occupancy
      4399 Columbia Rd, Grand Forks, ND 58201
      View Details
    • Contact for pricing
      73,478 SF

      70-Bed Psychiatric Hospital Available

      73,478 SF psychiatric hospital with 70 beds for sale.
      1451 44Th Ave S, Grand Forks, ND 58201
      View Details
    • $469,999

      Commercial Land in Office Park

      Commercial land available in a professional office park.
      3751 S Columbia Rd, Grand Forks, ND 58201
      View Details
    • $199,780
      1,040 SF

      Heartland Caves Condo: Grand Forks

      Mixed-use condo, perfect man cave
      2975 Heartland Dr, Grand Forks, ND 58201
      View Details
    • $266,206

      Grand Forks Commercial Land Parcel

      Prime Commercial Lot, 25,353 SF
      1150 40Th Ave, Grand Forks, ND 58201
      View Details
    • $1,900,000
      99,146 SF

      Grand Forks Retail Giant - Macy's

      Prime Retail Space, 99,146 SF
      2800 Columbia Rd, Grand Forks, ND 58201
      View Details

    FAQs

    What type of property is this?
    Commercial real estate - Nine-office space, high traffic area, great opportunity.
    Where is this commercial real estate located?
    The property is located at 12 3Rd St Mayville, ND.
    What is the asking price?
    The asking price for this property is $134,400.
    (701) 543-3380
    Request Owner's contact information
    12 3Rd St Mayville, ND 58257
    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.
    12 3Rd St
    Mayville, ND 58257
    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
    12 3Rd St Mayville, ND 58257
    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

    We can help!
    Listing Contact
    Cassie Braaten
    (701) 543-3380
    Learn more
    Google sign-in failed. Please try again or use another login method.