Multi-Tenant Retail
For Sale
Contact for pricing
2550 S Columbia Rd, Grand Forks, ND 58201
Retail center with three established occupants and a seller leaseback component.
Property Size10,600 SF
Lot Size1.03 Acres
Price / SF$179.25
Days on Market339
Property Features for 2550 S Columbia Rd
General Information
Standard status
Active
Size
10,600 SF
Lot size
1.03 Acres
Property subtype
RETAIL
Occupancy
100%
Net Operating Income
$165,622
Building Details
Tenancy
Multi
Listing Agency:
Horizon Real Estate Group
(701) 793-0653
Listed By:
Brian Tulibaski, MBA
Source:
Moodyscre
Added: Sep 25, 2025
Changed: Aug 29
Last Checked: Aug 29 at 1:39PM
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 shopping center is configured for multiple occupants, with New Horizon Childcare, Tina's Nail Spa, and Northern Roots Boutique identified as current users. The property also includes a seller leaseback component, adding another defined occupancy arrangement to the tenant mix.
The building is associated with a 44,868-lot-size parcel at 2550 South Columbia Road in Grand Forks, North Dakota. Existing occupancy is divided among childcare, personal care, and boutique retail uses, creating a varied commercial profile within the center.
The building is associated with a 44,868-lot-size parcel at 2550 South Columbia Road in Grand Forks, North Dakota. Existing occupancy is divided among childcare, personal care, and boutique retail uses, creating a varied commercial profile within the center.
Key Highlights
- New Horizon Childcare occupies 3067 SF
- Tina's Nail Spa occupies 3200 SF
- Northern Roots Boutique occupies 2994 SF
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
$80,136
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
4.22%
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%
$1,602,720
$1.6M
Cap Rate 7%
$1,144,800
$1.1M
Cap Rate 9%
$890,400
$890.4K
Market Conditions
NOI Build-Up for 10,600 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
$127.2K $12.00/SF
− Vacancy
−$12.7K −$1.20/SF
EGI
$114.5K $10.80/SF
− OpEx
−$34.3K −$3.24/SF
NOI
$80.1K $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%
$1,602,720
Cap Rate 7%
$1,144,800
Cap Rate 9%
$890,400
Alternative Uses
Best Use
Retail
$1.14M
$1.00M – $1.34M
NOI $80,136 @ 7.0% cap · market cap 4.22%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.96M
$1.72M – $2.29M
NOI $137,376 @ 7.0% cap · market cap 7.23%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
100%
Occupancy
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
873
Businesses Nearby
515k
Monthly Visits Nearby
Balanced
Demand for This Use
Explore this area
Business Placement
Foot Traffic Nearby
Dining 33%
Apparel 20%
Superstores 18%
Shops & Services 15%
Walmart
Superstores
93,626 visits/mo
0.5 miles
Scheels
Apparel
83,229 visits/mo
0.3 miles
Chick-fil-A
Dining
28,061 visits/mo
0.4 miles
Texas Roadhouse
Dining
27,652 visits/mo
0.4 miles
Buffalo Wild Wings
Dining
27,142 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 - Retail center with three established occupants and a seller leaseback component.
Where is this shopping center located?
The property is located at 2550 S Columbia Rd Grand Forks, ND.
What is the asking price?
The asking price for this property is $1,900,000.
What are key features of this property?
This property features: New Horizon Childcare occupies 3067 SF; Tina's Nail Spa occupies 3200 SF; Northern Roots Boutique occupies 2994 SF
