Add Listing
    For Sale
    • 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

    684 1St Ave N Grand Forks, ND 58203

    View on Map
    Loading data...
    Loading data...
    Loading data...
    For Sale
    Contact for pricing

    65-unit apartment building with commercial space in downtown Grand Forks.

    Property size:
    90,699 SF
    Lot size:
    38,440.00 Acres

    Property Features for 684 1St Ave N

    General Information

    Standard status
    Active
    Size
    90,699 SF
    Lot size
    38,440.00 Acres

    Building Details

    Year built
    2022

    We can help!

    Listing Contact
    Kevin Ritterman
    Kevin Ritterman
    Source: Crexi

    Listing Agency: Dakota Commercial Dakota Commercial Main Office Listing Agent: Kevin Ritterman

    Displayed information is deemed reliable but is not guaranteed and should be independently verified.

    Learn more

    Overview

    Mixed-Use Building in Grand Forks

    This mixed-use property features a 65-unit apartment building with two floors of commercial space. The property is located in downtown Grand Forks, North Dakota. With a total property size of 90699 square feet, this property offers steady income and strong potential for future growth. It is suitable as an addition to an investor’s portfolio.
    Location Intelligence

    Current Use by Public Records

    Grafton Park Park

    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
    -97.03634
    Latitude
    47.922775

    Nearby Similar for Sale

    • $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

      Downtown Grand Forks Investment Opportunity

      Multi-tenant office building in downtown Grand Forks for sale.
      311 4Th St S, Grand Forks, ND 58201
      View Details
    • $825,000

      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

      Centrally Located Shop/Retail Space

      Shop/retail space with storage units in central Grand Forks.
      1323 8Th Ave, 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 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 Rd, 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 Rd, Grand Forks, ND 58201
      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
    • $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
    • $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
    • $889,000

      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
    • $340,000

      Grand Forks 10-Plex Near UND

      10-unit apartment building near the University of North Dakota.
      1225 Stanford Rd, Grand Forks, ND 58203
      View Details

    FAQs

    What type of property is this?
    Mixed-use property - 65-unit apartment building with commercial space in downtown Grand Forks.
    Where is this mixed-use property located?
    The property is located at 684 1St Ave N Grand Forks, ND.
    What are key features of this property?
    This property features: - 65-unit apartment building offering steady income.; - Features two floors of commercial space.; - Built in 2022.
    (701) 772-3101
    Request Owner's contact information
    684 1St Ave N Grand Forks, ND 58203
    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.
    684 1St Ave N
    Grand Forks, ND 58203
    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
    684 1St Ave N Grand Forks, ND 58203
    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

    We can help!
    Listing Contact
    Kevin Ritterman
    Kevin Ritterman
    Real Estate License ID: 2001
    Learn More
    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!