Add Listing
    For Lease
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    Industrial Shop Space For Lease Title is generated by Realmo AI

    4494 16th Ave N Cir, Grand Forks, ND

    View on Map
    Claim this Listing
    For Lease
    Contact for pricing

    Up to 11,000 SF shop space available for lease.

    Type:INDUSTRIAL
    Property size:
    11,000 SF
    Lot size:
    0.56 Acres
    Added:
    Mar 25, 2024
    Days on Market:
    802
    Last Refresh:
    May 20 at 8:54 pm

    Property Features for 4494 16th Ave N Cir

    General Information

    Standard status
    Active
    Size
    11,000 SF
    Lot size
    0.56 Acres
    Property subtype
    INDUSTRIAL

    Spaces For Lease

    at 4494 16th Ave N Cir Contact us

    We can help!

    Listing Contact
    Duane Wages, Jr.

    Listing agent Duane Wages, Jr.

    Listing office Dakota Commercial - Corporate

    Listing date Mar 25, 2024

    Source Moodyscre

    Displayed information is deemed reliable but is not guaranteed and should be independently verified.

    All listing content including descriptions, pricing, images are the copyrighted material of Dakota Commercial - Corporate

    HighLights

    • Excellent location off Highway 2 and I‑29
    • Up to 11,000sf of shop space available
    • Two 16' overhead doors
    • Loading dock for efficient shipping/receiving
    • 3‑phase power to support industrial equipment
    • 20' interior clear height suitable for various uses

    Overview

    Available for lease is up to 11,000 square feet of shop space. The property is located just off Highway 2 and I-29, north of the Gateway Drive McDonald's. The space includes two 16-foot overhead doors, a loading dock, floor heat, floor drains, restrooms, and office space. It features 3-phase power and a 20-foot interior clear height.
    Property Profile Location Intelligence

    Current Use by Public Records

    Warehouses

    Suggested Use

    Restaurant Real Estate Agency Law Firm Building Supply Big Box & Wholesale Store Auto Repair Shop Hotel & Motel Auto Parts Store Gym & Fitness Center Kitchen & Bath Showroom

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

    Similar Places Nearby

    • Storage Max — 3903 Gateway Dr, Grand Forks, ND 58203
    • Gateway Storage — 5118 Gateway Dr, Grand Forks, ND 58203
    • Northern Plains Grain Inspctn — 1110 N 43rd St, Grand Forks, ND 58203
    • Five Star Storage — 5118 Gateway Dr, Grand Forks, ND 58203

    Location Insight

    • Map
    • Local Demand
    City
    Grand Forks
    County
    Grand Forks
    State
    North Dakota
    Longitude
    -97.0918
    Latitude
    47.9354

    Nearby Similar for Lease

    • $16 SF/Yr
      2,200 SF

      High Visibility Retail Space

      2200+ sq ft commercial space on busy S Washington corridor.
      1020 S Washington St, Grand Forks, ND 58201
      View Details
    • $16 SF/Yr
      2,640 SF

      Remodeled Office Space For Lease

      Remodeled office space in Grand Forks, great location.
      4575 32ND S Avenue 1, Grand Forks, ND 58201
      View Details
    • $16 SF/Yr
      10,916 SF

      Retail, Office, Medical Space Available

      Main floor space available in South Columbia corridor.
      4177 S Columbia Rd, Grand Forks, ND
      View Details
    • $18 SF/Yr

      Historic Building in Grand Forks

      Prime location suitable for retail or restaurant use.
      116 S 3rd St, Grand Forks, ND 58201
      View Details
    • $17 SF/Yr
      1,248 SF

      Updated Office Space with Drive-Through

      Updated office space with drive-through, near University of North Dakota.
      2860 10th Ave N, Grand Forks, ND
      View Details
    • $16 SF/Yr

      Downtown Commercial Space For Lease

      Urban setting with high visibility, suitable for restaurant or office.
      323 Demers Ave, Grand Forks, ND 58201
      View Details
    • $17 SF/Yr
      3,314 SF

      Downtown Office Space with Patio

      Second-floor office space with private patio in downtown Grand Forks.
      15 S 4th St, Grand Forks, ND
      View Details
    • $16 SF/Yr
      4,000 SF

      Retail Space Available For Lease

      4,000 SF retail space with good parking and visibility.
      2100 S Columbia Rd, Grand Forks, ND
      View Details
    • $12 SF/Yr

      Retail Space Near Columbia Mall

      Retail space with high visibility and traffic near Columbia Mall.
      2550 S Columbia Rd, Grand Forks, ND 58201
      View Details
    • $26 SF/Yr
      1,200 SF

      Retail Space in Grand Forks

      1,200 SF retail suite available for lease.
      2475 32 Ave S, Grand Forks, ND
      View Details
    • $15 SF/Yr
      1,400 SF

      Downtown Retail Space Available

      Corner retail space in downtown Grand Forks with high visibility.
      615 1 Ave N, Grand Forks, ND
      View Details
    • Contact for pricing
      6,300 SF

      Versatile Industrial/Retail Space Available

      6300 SF end bay suitable for various business types.
      623 South 48th Street, Grand Forks, ND 58201
      View Details

    FAQs

    What type of property is this?
    Warehouse - Up to 11,000 SF shop space available for lease.
    Where is this warehouse located?
    The property is located at 4494 16th Ave N Cir Grand Forks, ND.
    What is the lease rate?
    The lease rate is $7 SF/Yr.
    What are key features of this property?
    This property features: Excellent location off Highway 2 and I‑29; Up to 11,000sf of shop space available; Two 16' overhead doors
    (701) 330-9632 Call to check price and availability
    We can help!
    Contact for Pricing
    Please call us for current price
    and status of this listing
    Duane Wages, Jr.
    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.
    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

    Thank You for Inquiry
    4494 16th Ave N Cir, Grand Forks, ND
    letter with green check mark
    Check your email
    We sent you the
    agent's contact details. yellow underline
    Can't find it?
    Please check your junk/spam folder.
    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!