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    5450 Gateway Dr Grand Forks, ND 58203

    For Sale
    $807,602

    Prime 2.06-acre commercial lot in Grand Forks.

    Description

    Added:
    Dec 11, 2024
    Days on Market:
    370
    This exceptional 2.06-acre commercial land parcel, located at 5450 Gateway Drive in Grand Forks, North Dakota, presents a unique investment opportunity. Zoned B3, this property boasts a highly visible location near the intersection of Gateway Drive/Highway 2 and 55th Street North, ensuring significant exposure to a substantial daily traffic volume. Highway 2 at 55th Street sees 16,010 vehicles daily, while 55th Street at Highway 2 registers 3,985 vehicles per day. This high traffic count translates to excellent visibility for any commercial development. The property is situated amongst established businesses, including prominent retailers like Walmart, RDO, Rydell Auto Outlet, and Budget RV, creating a strong and desirable commercial environment. The asking price is $807,602, representing a cost of $9 per square foot. This strategically located land offers significant potential for a variety of commercial ventures, capitalizing on its prime location and high traffic counts within a thriving commercial area. The property's address is 5450 Gateway Drive, Grand Forks, ND 58203, and is situated in Grand Forks County. This is an exceptional opportunity to acquire a highly visible and well-positioned commercial lot in a rapidly growing area.

    Property Features for 5450 Gateway Dr

    General Information

    Property type
    Land
    Lot Size
    89,734 SF
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Commercial real estate

    Suggested Use

    Restaurant Building Supply Wholesale Shop Auto Repair Shop Clothing Store Nail Salon Auto Parts Store Gym & Fitness Hotel & Motel Kitchen & Bath

    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
    -97.1089828
    Latitude
    47.9331558

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    FAQs

    What type of property is this?
    Land - Prime 2.06-acre commercial lot in Grand Forks.
    Where is this land located?
    The property is located at 5450 Gateway Dr Grand Forks, ND.
    What is the asking price?
    The asking price for this property is $807,602.
    Request Owner's contact information
    5450 Gateway Dr Grand Forks, ND 58203
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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
    5450 Gateway Dr Grand Forks, ND 58203
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