SOCO Professional Park Office
For Sale
Contact for pricing
4303 S Columbia Rd, Grand Forks, ND 58201
Two-building office park with modern design and flexible tenant spaces.
Property Size12,196 SF
Price / SF$270.58
Days on Market1429
Property Features for 4303 S Columbia Rd
General Information
Standard status
Active
Size
12,196 SF
Class
A
Property subtype
Office
Occupancy
80%
Lease Type
NNN
Building Details
Year Built
2021
Buildings
1
Tenancy
Multi
Listing Agency:
Core Property Group
(701) 371-5977
Listed By:
Jeremy Horst · License #ND 8209
Source:
Crexi
Added: Sep 25, 2022
Changed: Aug 19
Last Checked: Aug 22 at 8:53AM
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 Core Property Group
Investment Insights
Based on property information with market context.
SOCO Professional Park features two uniquely designed office buildings located along Columbia Road in south Grand Forks. The buildings showcase a modern architectural design and high-quality construction. Interior features include common corridors, tiled bathrooms, and interior-designed tenant spaces. A shared digital monument sign is available for tenant features. The property offers ease of access at a signalized corner along Columbia Road and 43rd Avenue South. The property size is 12196 square feet. Flexible tenant spaces are available, presenting an opportunity for ownership in a growing area.
Key Highlights
- Modern architectural design and high‑quality construction.
- Located in the growing south Grand Forks area.
- Ease of access at a signalized corner of Columbia Road & 43rd Ave. S.
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
$120,740
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
3.66%
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%
$2,414,800
$2.4M
Cap Rate 7%
$1,724,857
$1.7M
Cap Rate 9%
$1,341,556
$1.3M
Market Conditions
NOI Build-Up for 12,196 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
$182.9K $15.00/SF
− Vacancy
−$22.0K −$1.80/SF
EGI
$161.0K $13.20/SF
− OpEx
−$40.2K −$3.30/SF
NOI
$120.7K $9.90/SF
Area
Grand Forks County, ND
Vacancy
12.00%
Lease Rate
$15.00 /SF/Yr
Expense Ratio
25.00%
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%
$2,414,800
Cap Rate 7%
$1,724,857
Cap Rate 9%
$1,341,556
Alternative Uses
Best Use
Office B
$1.72M
$1.51M – $2.01M
NOI $120,740 @ 7.0% cap · market cap 3.66%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$2.26M
$1.98M – $2.63M
NOI $158,060 @ 7.0% cap · market cap 4.79%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
150
Businesses Nearby
Explore this area
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
Market
Vacancy Rate% for Office in Midwest region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Office building - Two-building office park with modern design and flexible tenant spaces.
Where is this office building located?
The property is located at 4303 S Columbia Rd Grand Forks, ND.
What is the asking price?
The asking price for this property is $3,300,000.
What are key features of this property?
This property features: Modern architectural design and high‑quality construction.; Located in the growing south Grand Forks area.; Ease of access at a signalized corner of Columbia Road & 43rd Ave. S.
