Two-Level Office
New
For Sale
$290,000
1404 NW 4th Street, Grand Rapids, MN 55744
Business/commercial zoning and ample parking complement a flexible office layout.
Property Size2,875 SF
Price / SF$100.87
Days on Market7
Property Features for 1404 NW 4th Street
General Information
Standard status
Active
Size
2,875 SF
Property subtype
Commercial
Zoning
Business/Commercial
Site & Location
Highway Access
Yes
Road Access
Yes
Additional Details
Condition
Move-in Ready
Office Units
4
Property Use
Office
Taxes and HOA fees
Annual Taxes
$6,771
Amenities
hard-wired security system
handicapped accessible
reception area
conference room
kitchenet
storage area
updated deck
landscaping
Building Details
Building Size
2,875 SF
Year Built
1980
Units
1
Listing Agency:
MOVE IT REAL ESTATE GROUP/LAKEHOMES.COM
Listed By:
Jackie Lawson
(218) 259-4678
Source:
Getyoumoved
Added: Oct 22
Changed: Oct 26
Last Checked: Oct 26 at 4:08AM
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 MOVE IT REAL ESTATE GROUP/LAKEHOMES.COM
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Investment Insights
Based on property information with market context.
This 2,875-square-foot office building, constructed in 1980, has four offices and a reception area on the main floor, along with a kitchenette and half bath. The lower level adds a conference room, substantial storage space, and a second half bath. Interior updates include refreshed flooring and paint; exterior work includes new gutters, an improved deck, and completed landscaping. A hard-wired security system and handicapped accessibility are also in place.
The property is on Hwy 2 in Grand Rapids and is zoned Business/Commercial. Parking is available at the building.
The property is on Hwy 2 in Grand Rapids and is zoned Business/Commercial. Parking is available at the building.
Key Highlights
- 2,875‑square‑foot office building built in 1980
- Main floor includes 4 offices, reception area, kitchenette, and half bath
- Lower level has a conference room, large storage area, and half bath
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$12,914
Cap Rate
4.45%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$258,280
$258.3K
Cap Rate 7%
$184,486
$184.5K
Cap Rate 9%
$143,489
$143.5K
Market Conditions
NOI Build-Up for 2,875 SF
Gross rent
$20.0K $6.96/SF
− Vacancy
−$2.8K −$0.97/SF
EGI
$17.2K $5.99/SF
− OpEx
−$4.3K −$1.50/SF
NOI
$12.9K $4.49/SF
Area
Itasca County, MN
Vacancy
13.95%
Lease Rate
$6.96 /SF/Yr
Expense Ratio
25.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$258,280
Cap Rate 7%
$184,486
Cap Rate 9%
$143,489
Alternative Uses
Best Use
Office B
$184.5K
$161.4K – $215.2K
NOI $12,914 @ 7.0% cap · market cap 4.45%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$277.2K
$242.5K – $323.4K
NOI $19,402 @ 7.0% cap · market cap 6.69%
Zoning and permitted uses should be independently verified with authorities.
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Property Analytics
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Open Analytics
Current Use
Lease Details
4
Office units
Yes
Highway access
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
162
Businesses Nearby
Explore this area
Business Placement
Demographics for 55744, MN
20,096
Population
9,733
Households
2.1
Avg Household Size
45
Median Age
30%
College-Educated
95%
High-School Grad
239.4 sq mi
ZIP Area
84
Density / Sq Mi
$68,213
Median Household Income
$39,232
Median Earnings
$1,014
Median Rent
$232,700
Median Home Value
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Office in Midwest region
Frequently Asked Questions
What type of property is this?
Office building - Business/commercial zoning and ample parking complement a flexible office layout.
Where is this office building located?
The property is located at 1404 NW 4th Street Grand Rapids, MN.
What is the asking price?
The asking price for this property is $290,000.
What are key features of this property?
This property features: 2,875‑square‑foot office building built in 1980; Main floor includes 4 offices, reception area, kitchenette, and half bath; Lower level has a conference room, large storage area, and half bath
