Add Listing
    For Lease
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    Back to Search
    The Largest CRE Database in the US with Over 1 Million Listings

    4575 32ND S Avenue 1 Grand Forks, ND 58201

    View on Map
    Loading data...
    Loading data...
    Loading data...
    For Lease
    $16 SF/Yr

    Remodeled office space in Grand Forks, great location.

    Property size:
    2,640 SF
    Added:
    Mar 24, 2026
    Days on Market:
    13
    Last Refresh:
    Feb 11 at 5:47 am

    Property Features for 4575 32ND S Avenue 1

    General Information

    Standard status
    Active
    Size
    2,640 SF
    Property subtype
    Other

    We can help!

    Listing Contact
    Chelsie Kuhn

    Listing agent Chelsie Kuhn License #9179

    Listing office Dakota Commercial

    Listing date Mar 24, 2026

    Source Exitrealty

    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 Dakota Commercial

    Overview

    Remodeled Office Space For Lease

    This newly remodeled commercial space is available for lease within the MAK Construction office complex. The property is located in South Grand Forks, with convenient access to I-29. The 2640 square feet office space features private offices, a large open workspace with cubicles, bathrooms, and a large conference/break room.
    Location Intelligence

    Current Use by Public Records

    USGS Dakota Water ... Federal Government Office Keith Brown Trucking Trucking Company Mak Construction Construction Company Valley Express Inc. Logistics Company CK Agency Property Management Company

    Suggested Use

    Restaurant Real Estate Agency Law Firm Building Supply Spa & Massage Center Dental Office Big Box & Wholesale Store Auto Repair Shop Hair Salon Nail Salon

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Grand Forks
    County
    Grand Forks
    State
    North Dakota
    Longitude
    -97.0949138
    Latitude
    47.8885493

    Nearby Similar for Lease

    • $18/mo

      Historic Building in Grand Forks

      Prime location suitable for retail or restaurant use.
      116 S 3rd St, Grand Forks, ND 58201
      View Details
    • $16/mo

      High Visibility Retail Space

      2200+ sq ft commercial space on busy S Washington corridor.
      1020 S Washington St, Grand Forks, ND 58201
      View Details
    • $16/mo

      Downtown Commercial Space For Lease

      Urban setting with high visibility, suitable for restaurant or office.
      323 Demers Ave, Grand Forks, ND 58201
      View Details
    • $12/mo

      Retail Space Near Columbia Mall

      Retail space with high visibility and traffic near Columbia Mall.
      2550 S Columbia Rd, Grand Forks, ND 58201
      View Details
    • $16/mo

      Retail, Office, Medical Space Available

      Main floor space available in South Columbia corridor.
      4177 S Columbia Rd, Grand Forks, ND
      View Details
    • $17/mo

      Downtown Office Space with Patio

      Second-floor office space with private patio in downtown Grand Forks.
      15 S 4th St, Grand Forks, ND
      View Details
    • $16/mo

      Retail Space Available For Lease

      4,000 SF retail space with good parking and visibility.
      2100 S Columbia Rd, Grand Forks, ND
      View Details
    • Contact for pricing

      Retail Space in Grand Forks

      Attractive strip center with ample parking and great visibility.
      1210 S Washington St , Grand Forks, ND 58201
      View Details
    • Contact for pricing

      Versatile Industrial/Retail Space Available

      6300 SF end bay suitable for various business types.
      623 South 48th Street, Grand Forks, ND 58201
      View Details
    • Contact for pricing

      Granaza Professional Building Office Space

      Office space in professional building, suitable for client-based business.
      2397 Demers Ave Suite C, Grand Forks, ND 58201
      View Details
    • Contact for pricing

      Corner Warehouse Space Available

      3,365 SF warehouse space available October 2025.
      4051 Gateway Dr, Grand Forks, ND
      View Details
    • Contact for pricing

      Newly Finished Office Space

      Office space featuring multiple offices, conference room, and break room.
      3425 S Washington St, Grand Forks, ND 58201
      View Details

    FAQs

    What type of property is this?
    Office units - Remodeled office space in Grand Forks, great location.
    Where is this office units located?
    The property is located at 4575 32ND S Avenue 1 Grand Forks, ND.
    What is the lease rate?
    The lease rate is $16 SF/Yr.
    What are key features of this property?
    This property features: Newly remodeled commercial space available.; Great location in South Grand Forks, right off I‑29 exit.; Last remaining commercial space in the MAK Construction office complex.
    (701) 772-3101
    We can help!
    Listing Contact
    Chelsie Kuhn
    Real Estate License ID: 9179
    Learn More
    Request Owner's contact information
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!