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    808 Main St Scranton, ND 58653

    For Sale
    $334,800

    Mixed-use investment opportunity, 87.5% occupied.

    Description

    Added:
    Dec 11, 2024
    Days on Market:
    369
    This exceptional investment opportunity presents an eight-unit apartment building situated on a 0.32-acre lot at 808 Main St. N, Scranton, North Dakota (Lots 5-6, Block 3, North Heights). The property, totaling 6,792 square feet, boasts a desirable unit mix: seven two-bedroom, one-bathroom apartments and one fully furnished one-bedroom, one-bathroom unit. Each unit is equipped with a refrigerator, stove, microwave, and window air conditioning unit. Residents enjoy shared laundry facilities conveniently located on the main floor. Further enhancing the property's appeal are a three-stall, 22ft x 36ft garage, an 8ft x 10ft storage shed, and a spacious 3900 square foot concrete parking lot. Built in the 1970s and completely renovated in 1997, the building is currently 87.5% occupied, with one two-bedroom unit available for rent at $600 per month. The property benefits from city water and sewer, MDU electricity, and baseboard electric heating. 2022 property taxes amounted to $1,692.71. This well-maintained complex offers a strong return on investment with potential for increased rental income. The asking price is $334,800. Viewings are by appointment only.

    Property Features for 808 Main St

    General Information

    Property type
    Mixed-use properties
    Lot Size
    13,939 SF

    HighLights

    • Rare investment opportunity: 8‑unit apartment building in Scranton, ND.
    • 8‑unit multifamily property at 808 Main St N, Scranton, ND (Lots 5‑6, Block 3, North Heights).
    • 6,792 sq ft building, constructed in the 1970s, completely renovated in 1997.
    • Seven 2‑bed/1‑bath units and one furnished 1‑bed/1‑bath unit; all units include refrigerator, stove, microwave, and window A/C.
    • Amenities include shared laundry, a 22' x 36' three‑stall garage, an 8' x 10' storage shed, and a 3900 sq ft concrete parking lot.
    • 87.5% occupancy, one 2‑bedroom unit available; $600/unit rent; 2022 taxes: $1,692.71; city water/sewer; MDU electricity; baseboard electric heat.
    Property Profile Location Intelligence

    Current Use by Public Records

    Commercial real estate

    Suggested Use

    Restaurant Spa & Massage Auto Repair Shop Hair Salon Nail Salon Food Market Storage Facility Grocery Store Bar & Pub Italian Restaurant

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

    Location Insight

    City
    Scranton
    County
    38011
    State
    North Dakota

    FAQs

    What type of property is this?
    Mixed-use property - Mixed-use investment opportunity, 87.5% occupied.
    Where is this mixed-use property located?
    The property is located at 808 Main St Scranton, ND.
    What is the asking price?
    The asking price for this property is $334,800.
    What are key features of this property?
    This property features: Rare investment opportunity: 8-unit apartment building in Scranton, ND.; 8-unit multifamily property at 808 Main St N, Scranton, ND (Lots 5-6, Block 3, North Heights).; 6,792 sq ft building, constructed in the 1970s, completely renovated in 1997.
    Request Owner's contact information
    808 Main St Scranton, ND 58653
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    Scranton, ND 58653
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    Realmo Value Estimation

    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.

    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.

    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
    808 Main St Scranton, ND 58653
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