Sign Up Successful!
You now have access to more from Realmo!
    For Sale
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search

    2675 32Nd Ave S Grand Forks, ND 58201

    Loading data...
    Loading data...
    Loading data...
    For Sale
    $3,950,000

    Former restaurant with furniture, fixtures, equipment, and ample parking.

    Property size:
    6,171 SF
    Lot size:
    1.80 Acres

    Property Features for 2675 32Nd Ave S

    General Information

    Size
    6,171 SF
    Lot size
    1.80 Acres

    We can help!

    Listing Contact
    Curtis Regan
    Source: Moodyscre

    Listing Agent: Curtis Regan

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

    Learn more

    Overview

    Former Restaurant on 1.8 Acres

    This property features a former restaurant situated on a 1.8-acre lot, equivalent to 78,417 square feet. The building encompasses 6,171 square feet. The sale includes all remaining furniture, fixtures, and equipment. Ample parking is available. The property is an outparcel of Walmart. Approximately 33,550 vehicles pass by the location daily.
    Location Intelligence

    Current Use by Public Records

    Restaurants

    Suggested Use

    Restaurant Realty agency Law Firm Building Supply Spa & Massage Dental Office Wholesale Shop Auto Repair Shop Hair Salon Clothing Store

    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
    -97.065632
    Latitude
    47.8889376

    Nearby Similar for Sale

    • Contact for pricing
      73,478 SF

      70-Bed Psychiatric Hospital Available

      73,478 SF psychiatric hospital with 70 beds for sale.
      1451 44Th Ave S, Grand Forks, ND 58201
      View Details
    • $3,300,000

      New Commercial Building For Sale

      Built in 2022, located off Interstate 29 and Highway 2.
      4252 16Th Avenue Cir North, 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 58201
      View Details
    • $1,900,000
      99,146 SF

      Former Macy's Store Available

      99,146 SF retail space connected to mall.
      2800 S Columbia Rd, Grand Forks, ND 58201
      View Details
    • $469,000
      2,484 SF

      Modern Office Space For Sale

      Contemporary office space in a growing Grand Forks location.
      4500 36Th Ave S, Grand Forks, ND 58201
      View Details
    • $6,500,000
      74,519 SF

      Grand Forks Hotel Investment

      100-Room Hotel, Prime Location
      1205 43Rd St, Grand Forks, ND 58203
      View Details
    • Contact for pricing
      3,925 SF

      Apex Tower: Grand Forks Office Space

      Downtown Grand Forks Office, 3925 SF
      600 Demers Ave, Grand Forks, ND 58201
      View Details
    • $1,900,000
      99,146 SF

      Grand Forks Retail Giant - Macy's

      Prime Retail Space, 99,146 SF
      2800 Columbia Rd, Grand Forks, ND 58201
      View Details
    • $3,300,000
      12,196 SF

      Grand Forks Office Park Investment

      Modern Office Park, 12,196 SF, 80% Occupied
      4303 Columbia Rd, Grand Forks, ND 58201
      View Details
    • $1,850,000
      9,520 SF

      Grand Forks Industrial Investment

      Multi-tenant flex warehouse, high NOI.
      6801 27Th Ave, Grand Forks, ND 58203
      View Details
    • $2,995,000
      38,834 SF

      River's Edge Office Building Investment

      Downtown Grand Forks Office Complex, High Occupancy
      311 4Th St, Grand Forks, ND 58201
      View Details
    • $199,780
      1,040 SF

      Heartland Caves Condo: Grand Forks

      Mixed-use condo, perfect man cave
      2975 Heartland Dr, Grand Forks, ND 58201
      View Details

    FAQs

    What type of property is this?
    Restaurant - Former restaurant with furniture, fixtures, equipment, and ample parking.
    Where is this restaurant located?
    The property is located at 2675 32Nd Ave S Grand Forks, ND.
    What is the asking price?
    The asking price for this property is $3,950,000.
    What are key features of this property?
    This property features: - High traffic location: 33,550 vehicles pass daily.; - Large 1.8 acre lot (78,417 sf).; - Includes all remaining furniture, fixtures & equipment.
    (701) 772-3101
    Request Owner's contact information
    2675 32Nd Ave S Grand Forks, ND 58201
    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.
    2675 32Nd Ave S
    Grand Forks, ND 58201
    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
    2675 32Nd Ave S Grand Forks, ND 58201
    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
    Curtis Regan
    Real Estate License ID: ND 9992
    (701) 772-3101
    Learn more
    Google sign-in failed. Please try again or use another login method.
    Create New Password
    • At least 8 characters
    • Contains both letters and numbers
    • Contains uppercase and lowercase letters
    • At most 32 characters
    • Password required
    • Password reset link has expired. Please request a new one.