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6801 27th Ave N, Grand Forks, ND 58203
Warehouses
Property Size9,520 SF
Price / SF$196.95
Days on Market1005
Property Features for 6801 27th Ave N
General Information
Standard status
Active
Size
9,520 SF
Class
A
Property subtype
Industrial
Zoning
A-1
Building Details
Year Built
2015
Listing Agency:
Dakota Commercial
(701) 772-3101
Listed By:
Duane Wages III · License #ND 8509
Source:
Crexi
Added: Nov 22, 2023
Changed: Aug 8
Last Checked: May 12 at 9:15PM
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 Dakota Commercial
Investment Insights
Based on property information with market context.
Key Highlights
- Income‑producing property with NNN leases generating $94,800 annual net rental income.
- Opportunity to develop remaining land for owner/user or investor.
- Large natural gas service and power supply suitable for various user types.
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$65,860
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
3.51%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$1,317,200
$1.3M
Cap Rate 7%
$940,857
$940.9K
Cap Rate 9%
$731,778
$731.8K
Market Conditions
NOI Build-Up for 9,520 SF
Vacancy — income lost from leasable area expected to sit empty during the year, subtracted from gross rent.
EGI (Effective Gross Income) — gross rent minus vacancy losses, the realistic income before paying operating costs.
OpEx (Operating Expenses) — recurring costs to operate the property (property tax, insurance, utilities, maintenance, management); excludes financing and capital improvements.
NOI (Net Operating Income) — income a property generates after operating costs but before financing and taxes.
Gross rent
$82.3K $8.64/SF
− Vacancy
−$4.8K −$0.50/SF
EGI
$77.5K $8.14/SF
− OpEx
−$11.6K −$1.22/SF
NOI
$65.9K $6.92/SF
Area
Grand Forks County, ND
Vacancy
5.80%
Lease Rate
$8.64 /SF/Yr
Expense Ratio
15.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$1,317,200
Cap Rate 7%
$940,857
Cap Rate 9%
$731,778
Alternative Uses
Best Use
Warehouse
$940.9K
$823.3K – $1.10M
NOI $65,860 @ 7.0% cap · market cap 3.51%
Second Best
Industrial
$694.3K
$607.5K – $810.0K
NOI $48,601 @ 7.0% cap · market cap 2.59%
Theoretical Best
Office A
$1.76M
$1.54M – $2.06M
NOI $123,379 @ 7.0% cap · market cap 6.58%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
7
Businesses Nearby
Explore this area
Business Placement
Demographics for 58203, ND
16,165
Population
8,395
Households
1.9
Avg Household Size
29
Median Age
36%
College-Educated
95%
High-School Grad
68.7 sq mi
ZIP Area
235
Density / Sq Mi
$57,905
Median Household Income
$31,586
Median Earnings
$932
Median Rent
$202,500
Median Home Value
Market
Vacancy Rate% for Industrial in Midwest region
Questions? Ask Rey
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Frequently Asked Questions
Where is this warehouse located?
The property is located at 6801 27th Ave N Grand Forks, ND.
What is the asking price?
The asking price for this property is $1,875,000.
What are key features of this property?
This property features: Income‑producing property with NNN leases generating $94,800 annual net rental income.; Opportunity to develop remaining land for owner/user or investor.; Large natural gas service and power supply suitable for various user types.
