Add Listing
    For Sale
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    Back to Search
    Grand Forks Fourplex Investment Opportunity Title is generated by Realmo AI

    501 N 12th St, Grand Forks, ND 58203

    View on Map
    Claim this Listing
    Loading data...
    Loading data...
    Loading data...
    For Sale
    $295,000

    Fourplex in Grand Forks near UND and downtown.

    Type:Office
    Property size:
    4,352 SF
    Price / SF:
    $67/SF
    Added:
    Mar 6, 2026
    Days on Market:
    74
    Last Refresh:
    Apr 5 at 11:59 pm

    Property Features for 501 N 12th St

    General Information

    Standard status
    Active
    Size
    4,352 SF
    Property subtype
    Office

    Building Details

    Year Built
    1976

    We can help!

    Listing Contact
    Ryan Bohn

    Listing agent Ryan Bohn License #ND #7070

    Listing office

    Listing date Mar 6, 2026

    Source Squarefootcommercial

    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 Ryan Bohn

    HighLights

    • 100% Occupancy Rate: Provides immediate and consistent rental income.
    • Four Units: Two 2‑bed/2‑bath & Two 3‑bed/2‑bath units offer diverse tenant appeal.
    • In‑Unit Laundry: Each unit has its own laundry, a highly desirable amenity.
    • Prime Location: Situated between UND and downtown Grand Forks.
    • Space to Add Garage: Potential for increased property value and tenant appeal.
    • Multifamily Investment Opportunity: Ideal for portfolio diversification.

    Overview

    This fourplex is located in the north end of Grand Forks, North Dakota, just off North Washington Street, situated between the University of North Dakota and downtown. The 4,352 square foot building contains four fully occupied units, resulting in a 100% occupancy rate. The property consists of two 2-bedroom, 2-bathroom units and two 3-bedroom, 2-bathroom units, each with its own laundry. This property presents an investment opportunity for a multifamily investor looking to add to their portfolio.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Quadplexes

    Suggested Use

    Real Estate Agency Law Firm Restaurant Spa & Massage Center Dental Office Hair Salon Nail Salon Building Supply Gym & Fitness Center Pharmacy

    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
    -97.0437
    Latitude
    47.9246

    Nearby Similar for Sale

    • $825,000
      14,460 SF

      Multi-Use Property on Gateway Drive

      Multi-use property with visibility on Gateway (Hwy 2) near I-29.
      4212 Gateway Dr , Grand Forks, ND 58203
      View Details
    • $350,000
      2,468 SF

      Centrally Located Shop/Retail Space

      Shop/retail space with storage units in central Grand Forks.
      1323 8th Ave So, Grand Forks, ND 58201
      View Details
    • $350,000

      Former Bank Building For Sale

      Former bank building with drive-thru, adaptable to many uses.
      921 North Washington Street, Grand Forks, ND 58203
      View Details
    • $925,000

      Grand Forks Investment Property

      Well-maintained commercial property with long-term tenant in central Grand Forks.
      1010 S Washington St , Grand Forks, ND 58201
      View Details
    • $330,000
      2,000 SF

      Stand Alone Office Building

      Stand alone office building for sale or lease.
      1123 N 42nd St, Grand Forks, ND 58203
      View Details
    • $2,995,000
      39,834 SF

      Downtown Grand Forks Investment Opportunity

      Multi-tenant office building in downtown Grand Forks for sale.
      311 4TH S Street, Grand Forks, ND 58201
      View Details
    • $889,000
      13,344 SF

      Grand Forks Multifamily Investment Opportunity

      24-unit multifamily property in Grand Forks, built in 1963.
      2212 12th Ave N, Grand Forks, ND 58201
      View Details
    • $119,900

      Updated Office Space For Sale

      Updated office space in North Grand Forks, maintenance-free exterior.
      1421 N 4th St, Grand Forks, ND 58203
      View Details
    • $3,300,000

      SOCO Professional Park Office Buildings

      Two modern office buildings in south Grand Forks.
      4303 S COLUMBIA Road, Grand Forks, ND 58201
      View Details
    • $3,150,000

      SOCO Professional Park Office Buildings

      Two modern office buildings in south Grand Forks.
      4399 S COLUMBIA Road, Grand Forks, ND 58201
      View Details
    • $1,200,000

      Grand Forks Church with Offices

      Church property with multiple offices, kitchen, and parking.
      1600 4th Ave N , Grand Forks, ND 58203
      View Details
    • $1,900,000
      10,600 SF

      Retail Strip Mall For Sale

      Retail strip mall with diverse tenants and income potential.
      2550 S Columbia Rd, Grand Forks, ND
      View Details

    FAQs

    What type of property is this?
    Quadplex - Fourplex in Grand Forks near UND and downtown.
    Where is this quadplex located?
    The property is located at 501 N 12th St Grand Forks, ND.
    What is the asking price?
    The asking price for this property is $295,000.
    What are key features of this property?
    This property features: 100% Occupancy Rate: Provides immediate and consistent rental income.; Four Units: Two 2‑bed/2‑bath & Two 3‑bed/2‑bath units offer diverse tenant appeal.; In‑Unit Laundry: Each unit has its own laundry, a highly desirable amenity.
    (218) 791-5184
    We can help!
    Listing Contact
    Ryan Bohn
    Real Estate License ID: ND #7070
    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

    Thank You for Inquiry
    501 N 12th St, Grand Forks, ND 58203
    letter with green check mark
    Check your email
    We sent you the
    agent's contact details. yellow underline
    Can't find it?
    Please check your junk/spam folder.
    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!