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    13603 38Th St SW Belfield, ND 58622

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    For Lease
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    15.04 acre tract featuring shop, apartments, barn, and house.

    Property Features for 13603 38Th St SW

    General Information

    Standard status
    Active

    Building Details

    Year built
    2012

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    Listing Contact
    Diane Duchscher
    Source: Crexi

    Listing Agency: Home and Land Company Listing Agent: Diane Duchscher

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

    Learn more

    Overview

    Commercial Facility with Employee Housing

    This commercial facility includes employee housing and is situated on a 15.04 acre tract enclosed by wire fencing. The property features a 72' x 80' commercial shop with a large shop area in the center. The west side of the building includes a 16' x 40' tool room, a 16' x 16' mechanical room, a bathroom, and three offices. The east side of the building contains four apartments, each with a bathroom and kitchenette. These apartments share a common area equipped with two washers and dryers. The entire building is fully finished with heating, plumbing, and water. Additionally, there is a 34' x 62' x 12' two-story barn-style garage with a gambrel roof. The first level has floor heat, water, plumbing, and four garage doors. The second level includes two bathrooms, a kitchenette, and a finished game/open recreation room with a 12' x 30’ deck. A 32' x 48' house, finished on both levels, is also located on the property and contains two kitchens, three bathrooms, and six bedrooms.
    Location Intelligence

    Current Use by Public Records

    Office Units

    Map

    City
    Belfield
    County
    Stark
    State
    North Dakota
    Longitude
    -103.280817
    Latitude
    46.861553

    Nearby Similar for Lease

    • Contact for pricing

      Commercial Facility with Employee Housing

      Commercial shop on 15.04 acres with employee housing.
      13603 38Th St Sw, Belfield, ND 58622
      View Details

    FAQs

    What type of property is this?
    Mixed-use property - 15.04 acre tract featuring shop, apartments, barn, and house.
    Where is this mixed-use property located?
    The property is located at 13603 38Th St SW Belfield, ND.
    What are key features of this property?
    This property features: - Large 72' x 80' Commercial Shop with Offices, Tool Room, and Mechanical Room.; - Employee Housing: 4 Apartments each with bath and kitchenette, plus shared laundry.; - Additional 32' x 48' House: Finished on both levels with 6 bedrooms, 2 kitchens, and 3 bathrooms.
    Request Owner's contact information
    13603 38Th St SW Belfield, ND 58622
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    Belfield, ND 58622
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    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
    13603 38Th St SW Belfield, ND 58622
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