Single-Tenant Retail
For Sale
Contact for pricing
2500 S Columbia Rd, Grand Forks, ND 58201
Single-tenant retail center with a scheduled new roof in fall 2025, positioned near Columbia Mall on a major retail corridor.
Property Size10,620 SF
Price / SF$127.12
Days on Market198
Property Features for 2500 S Columbia Rd
General Information
Standard status
Active
Size
10,620 SF
Property subtype
RETAIL
Listing Agency:
Horizon Real Estate Group
(701) 478-7600
Listed By:
Brian Tulibaski, MBA
(701) 793-0653
Source:
Moodyscre
Added: Feb 20
Changed: Aug 25
Last Checked: Aug 14 at 7:59AM
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 Horizon Real Estate Group
Investment Insights
Based on property information with market context.
This single-tenant retail center is positioned along one of Grand Forks’ busiest retail corridors and is currently occupied by Plato’s Closet. The building totals 11,415 SF and includes a mix of named retail and service spaces: New Horizon Childcare (3,067 SF), Nodak Nutrition (2,154 SF), Tina’s Nail Spa (3,200 SF), and Northern Roots Boutique (2,994 SF). A new roof is scheduled to be added in fall 2025.
The property is located on South Columbia Road near Columbia Mall and is surrounded by major national retailers including Ross Dress for Less, PetSmart, and Harbor Freight. Access is described as convenient from multiple points, supported by strong day-to-day retail activity in the surrounding area.
Financials provided include NOI of $165,622 and CAM of $4.50/SF, with a blended base rent of $14.51.
The property is located on South Columbia Road near Columbia Mall and is surrounded by major national retailers including Ross Dress for Less, PetSmart, and Harbor Freight. Access is described as convenient from multiple points, supported by strong day-to-day retail activity in the surrounding area.
Financials provided include NOI of $165,622 and CAM of $4.50/SF, with a blended base rent of $14.51.
Key Highlights
- 11,415 SF single‑tenant retail center on South Columbia Road near Columbia Mall
- Occupied by Plato’s Closet (single‑tenant) with a NOI of $165,622
- Scheduled new roof to be added in fall 2025
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$80,287
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
5.95%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$1,605,740
$1.6M
Cap Rate 7%
$1,146,957
$1.1M
Cap Rate 9%
$892,078
$892.1K
Market Conditions
NOI Build-Up for 10,620 SF
Vacancy — income lost from leasable area expected to sit empty during the year, subtracted from gross rent.
EGI (Effective Gross Income) — gross rent minus vacancy losses, the realistic income before paying operating costs.
OpEx (Operating Expenses) — recurring costs to operate the property (property tax, insurance, utilities, maintenance, management); excludes financing and capital improvements.
NOI (Net Operating Income) — income a property generates after operating costs but before financing and taxes.
Gross rent
$127.4K $12.00/SF
− Vacancy
−$12.7K −$1.20/SF
EGI
$114.7K $10.80/SF
− OpEx
−$34.4K −$3.24/SF
NOI
$80.3K $7.56/SF
Area
Grand Forks County, ND
Vacancy
10.00%
Lease Rate
$12.00 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$1,605,740
Cap Rate 7%
$1,146,957
Cap Rate 9%
$892,078
Alternative Uses
Best Use
Retail
$1.15M
$1.00M – $1.34M
NOI $80,287 @ 7.0% cap · market cap 5.95%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.97M
$1.72M – $2.29M
NOI $137,635 @ 7.0% cap · market cap 10.20%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
870
Businesses Nearby
275k
Monthly Visits Nearby
Balanced
Demand for This Use
Explore this area
Business Placement
Foot Traffic Nearby
Dining 37%
Apparel 37%
Shops & Services 19%
Home Improvements & Furnishings 4%
Scheels
Apparel
83,229 visits/mo
0.3 miles
Texas Roadhouse
Dining
27,652 visits/mo
0.5 miles
Buffalo Wild Wings
Dining
27,142 visits/mo
0.3 miles
Olive Garden
Dining
19,499 visits/mo
0.5 miles
Holiday Station Store
Shops & Services
14,345 visits/mo
0.1 miles
Demographics for 58201, ND
42,598
Population
20,277
Households
2.1
Avg Household Size
34
Median Age
40%
College-Educated
96%
High-School Grad
69.0 sq mi
ZIP Area
617
Density / Sq Mi
$69,120
Median Household Income
$43,503
Median Earnings
$966
Median Rent
$274,000
Median Home Value
Market
Vacancy Rate% for Retail in Midwest region
Questions? Ask Rey
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Similar Off Market Nearby
- Columbia Junction — 2925 32nd Ave S, Grand Forks, ND 58201
- Columbia Mall — 2800 S Columbia Rd, Grand Forks, ND 58201
- Columbia Center — 2100 S Columbia Rd, Grand Forks, ND 58201
- Green Mill Plaza — 1930 S Columbia Rd Suite 1, Grand Forks, ND 58201
Frequently Asked Questions
What type of property is this?
Shopping center - Single-tenant retail center with a scheduled new roof in fall 2025, positioned near Columbia Mall on a major retail corridor.
Where is this shopping center located?
The property is located at 2500 S Columbia Rd Grand Forks, ND.
What is the asking price?
The asking price for this property is $1,350,000.
What are key features of this property?
This property features: 11,415 SF single‑tenant retail center on South Columbia Road near Columbia Mall; Occupied by Plato’s Closet (single‑tenant) with a NOI of $165,622; Scheduled new roof to be added in fall 2025
