Flex Space with Private
For Sale
$549,900
2866 HEARTLAND BUSINESS Court, Grand Forks, ND 58201
A full bath, gas heat, and a supplemental heater support the shop area.
Property Size3,000 SF
Price / SF$183.30
Days on Market64
Property Features for 2866 HEARTLAND BUSINESS Court
General Information
Standard status
Active
Size
3,000 SF
Property subtype
Business
Additional Details
Property Use
Shop
Taxes and HOA fees
Annual Taxes
$6,570
Building Details
Year Built
2017
Listing Agency:
Greenberg Realty
Listed By:
Nick Walker
(218) 791-6696
Source:
Greenbergrealty
Added: Aug 28
Changed: Oct 27
Last Checked: Oct 26 at 3:16PM
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 Greenberg Realty
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Investment Insights
Based on property information with market context.
Built in 2017, this 3,000-square-foot flex property combines shop space with a private office and full bath. The shop has a 12-foot door, gas heat, and a secondary supplemental heater. Compressed air lines extend throughout the building.
Key Highlights
- 3,000‑square‑foot shop suite with private office and full bath
- 12‑foot door
- Gas heat plus a secondary supplemental heater
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$25,834
Cap Rate
4.70%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$516,680
$516.7K
Cap Rate 7%
$369,057
$369.1K
Cap Rate 9%
$287,044
$287.0K
Market Conditions
NOI Build-Up for 3,000 SF
Gross rent
$43.2K $14.40/SF
− Vacancy
−$3.5K −$1.15/SF
EGI
$39.7K $13.25/SF
− OpEx
−$13.9K −$4.64/SF
NOI
$25.8K $8.61/SF
Area
Grand Forks County, ND
Vacancy
8.00%
Lease Rate
$14.40 /SF/Yr
Expense Ratio
35.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$516,680
Cap Rate 7%
$369,057
Cap Rate 9%
$287,044
Alternative Uses
Best Use
Flex RnD
$369.1K
$322.9K – $430.6K
NOI $25,834 @ 7.0% cap · market cap 4.70%
Second Best
Industrial
$218.8K
$191.4K – $255.3K
NOI $15,315 @ 7.0% cap · market cap 2.79%
Theoretical Best
Office A
$555.4K
$486.0K – $648.0K
NOI $38,880 @ 7.0% cap · market cap 7.07%
Zoning and permitted uses should be independently verified with authorities.
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Current Use
Location Intelligence
Trade Area within ½ mile
500
Businesses Nearby
Balanced
Demand for This Use
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Business Placement
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
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Market
Vacancy Rate% for Industrial in Midwest region
Frequently Asked Questions
What type of property is this?
Flex space - A full bath, gas heat, and a supplemental heater support the shop area.
Where is this flex space located?
The property is located at 2866 HEARTLAND BUSINESS Court Grand Forks, ND.
What is the asking price?
The asking price for this property is $549,900.
What are key features of this property?
This property features: 3,000‑square‑foot shop suite with private office and full bath; 12‑foot door; Gas heat plus a secondary supplemental heater
