Flex Space with
For Sale
Contact for pricing
3140 Gateway Drive Unit D, Grand Forks, ND 58203
Configured for business or personal use with dual restrooms, commercial glazing, and substantial utility infrastructure.
Property Size3,000 SF
Price / SF$129.59
Days on Market1301
Property Features for 3140 Gateway Drive Unit D
General Information
Standard status
Active
Size
3,000 SF
Property subtype
Office, Industrial, Special Purpose
Occupancy
13%
Warehouse & Industrial
Clear Height
18 ft
Mezzanine
1,000 SF
Three-Phase Power
Yes
Building Details
Stories
2
Units
1
Listing Agency:
Berkshire Hathaway HomeServices Family Realty
Listed By:
Michael Marcotte · License #8744
(701) 885-2441
Source:
Crexi
Added: Mar 29, 2023
Changed: Oct 3
Last Checked: Oct 19 at 4:38AM
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 Berkshire Hathaway HomeServices Family Realty
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Review the available facts, identify missing information and prepare questions for the agent.
Investment Insights
Based on property information with market context.
This flex condominium includes 2,000sf on the main floor plus a 1,000sf mezzanine, creating a two-level layout for commercial or personal use. The space is equipped with 3 Phase Power, air conditioning, a Gfa Furnace, LED lighting, and plumbing ready for Floor Heat. An ADA Restroom serves the main level, while the upper restroom includes a shower.
The building features 18' sidewalls, a 14'x14' Overhead Door, and Commercial Storefront Doors and Windows. Located at 3140 Gateway Drive in Grand Forks, ND, the property also carries no special assessments.
The building features 18' sidewalls, a 14'x14' Overhead Door, and Commercial Storefront Doors and Windows. Located at 3140 Gateway Drive in Grand Forks, ND, the property also carries no special assessments.
Key Highlights
- 2,000sf main floor plus 1,000sf mezzanine
- 3 Phase Power, air conditioning, and Gfa Furnace
- 18' sidewalls with a 14'x14' Overhead Door
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$25,834
Cap Rate
6.64%
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 6.64%
Second Best
Warehouse
$296.5K
$259.4K – $345.9K
NOI $20,754 @ 7.0% cap · market cap 5.34%
Theoretical Best
Office A
$555.4K
$486.0K – $648.0K
NOI $38,880 @ 7.0% cap · market cap 10.00%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Current Use
Lease Details
18 ft
Clear height
Location Intelligence
Trade Area within ½ mile
432
Businesses Nearby
Balanced
Demand for This Use
Explore this area
Business Placement
Demographics for 58203, ND
16,165
Population
8,395
Households
1.9
Avg Household Size
29
Median Age
36%
College-Educated
95%
High-School Grad
68.7 sq mi
ZIP Area
235
Density / Sq Mi
$57,905
Median Household Income
$31,586
Median Earnings
$932
Median Rent
$202,500
Median Home Value
Market
Vacancy Rate% for Industrial in Midwest region
Frequently Asked Questions
What type of property is this?
Flex space - Configured for business or personal use with dual restrooms, commercial glazing, and substantial utility infrastructure.
Where is this flex space located?
The property is located at 3140 Gateway Drive Unit D Grand Forks, ND.
What is the asking price?
The asking price for this property is $388,783.
What are key features of this property?
This property features: 2,000sf main floor plus 1,000sf mezzanine; 3 Phase Power, air conditioning, and Gfa Furnace; 18' sidewalls with a 14'x14' Overhead Door
