Add Listing
    For Sale
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    Land Parcels Near US Hwy 2 Title is generated by Realmo AI

    5450 Gateway Drive, Grand Forks, ND 58203

    View on Map
    Claim this Listing
    For Sale
    Contact for pricing

    Five land parcels with easy highway access.

    Type:Land
    Added:
    Jun 18, 2018
    Days on Market:
    2908
    Last Refresh:
    May 19 at 9:36 pm

    Property Features for 5450 Gateway Drive

    General Information

    Standard status
    Active
    Property subtype
    Land

    We can help!

    Listing Contact
    Matt Reichert

    Listing agent Matt Reichert License #ND 2039

    Listing office Aspen Group LLP

    Listing date Jun 18, 2018

    Source Crexi

    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 Aspen Group LLP

    HighLights

    • Easy access to US Hwy 2
    • Located just west of I‑29
    • 5 Parcels available

    Overview

    This offering consists of five land parcels situated with convenient access to US Highway 2, located just west of Interstate 29.
    Property Profile Location Intelligence

    Current Use by Public Records

    Land

    Suggested Use

    Restaurant Building Supply Big Box & Wholesale Store Auto Repair Shop Nail Salon Auto Parts Store Gym & Fitness Center Hotel & Motel Kitchen & Bath Showroom Food Market

    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
    -97.1089672
    Latitude
    47.9335379

    Nearby Similar for Sale

    • $825,000
      14,460 SF

      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
      2,468 SF

      Centrally Located Shop/Retail Space

      Shop/retail space with storage units in central Grand Forks.
      1323 8th Ave So, 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 Street, Grand Forks, ND 58203
      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
    • $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
    • $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
      View Details
    • $889,000
      13,344 SF

      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
    • $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
    • $3,300,000

      SOCO Professional Park Office Buildings

      Two modern office buildings in south Grand Forks.
      4303 S COLUMBIA Road, Grand Forks, ND 58201
      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
    • $295,000
      4,352 SF

      Grand Forks Fourplex Investment Opportunity

      Fourplex in Grand Forks near UND and downtown.
      501 N 12th St, Grand Forks, ND 58203
      View Details
    • $1,400,000
      13,520 SF

      Historic Mixed-Use Grand Forks Property

      13,520 SF historic property with residential and restaurant space.
      22 S 3rd St, Grand Forks, ND 58201
      View Details

    FAQs

    What type of property is this?
    Land - Five land parcels with easy highway access.
    Where is this land located?
    The property is located at 5450 Gateway Drive Grand Forks, ND.
    What are key features of this property?
    This property features: Easy access to US Hwy 2; Located just west of I‑29; 5 Parcels available
    We can help!
    Contact for Pricing
    Please call us for current price
    and status of this listing
    Matt Reichert
    Real Estate License ID: ND 2039
    Request Owner's contact information
    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.
    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
    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

    Thank You for Inquiry
    5450 Gateway Drive, Grand Forks, ND 58203
    letter with green check mark
    Check your email
    We sent you the
    agent's contact details. yellow underline
    Can't find it?
    Please check your junk/spam folder.
    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!