Add Listing
    For Lease
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    Back to Search
    The Largest CRE Database in the US with Over 1 Million Listings

    3765 Gateway Dr Grand Forks, ND 58203

    Loading data...
    Loading data...
    Loading data...
    For Lease
    Contact for pricing

    Former Burger King, High Traffic Area

    Lot size:
    4,000 SF

    Property Features for 3765 Gateway Dr

    General Information

    Property type
    Restaurants
    Lease Type
    Gross Lease
    RSF (Rentable sq. ft)
    4,000 SF

    Building Details

    Year Built/Renovated
    1984/2000

    Spaces For Lease

    at 3765 Gateway Dr, Grand Forks, ND 58203 Contact us

    We can help!

    Listing Contact
    Rob Kost
    Rob Kost

    Listing Agency: Upland Real Estate Group Inc Listing Agent: Rob Kost

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

    Learn more

    Property Insight Report

    Overview

    This 4,000 square foot former Burger King restaurant presents a unique redevelopment opportunity in Grand Forks, North Dakota. Situated on a 1.23-acre lot at 3765 Gateway Dr, 58203, this single-tenant property boasts a prime location with exceptional visibility and high traffic counts. Built in 1984 and renovated in 2000, the building offers significant potential for various retail uses. The property benefits from its proximity to key demographics and attractions, including the University of North Dakota (one mile away, with over 14,000 students), experiencing high daily traffic counts of 22,250 vehicles. Its location within a highly-rated school district, near River City Speedway, and only five miles from Grand Forks Airport further enhances its appeal. Additional advantages include its proximity to the Greater Grand Forks Fair and the Grand Forks Air Force Base, home to over 3,000 active-duty military and civilian personnel. This presents a compelling investment opportunity in a thriving community with a strong local economy and diverse population. The property's size and location make it ideal for a variety of retail concepts, offering significant potential for return on investment. Consider the possibilities this exceptional location offers for your next venture.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    BB NN QQ ... Religious School

    Suggested Use

    Restaurant Real Estate Agency Law Firm Spa & Massage Center Building Supply Big Box & Wholesale Store Hair Salon Auto Repair Shop Nail Salon Pharmacy

    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
    -97.0839103
    Latitude
    47.9324879

    Nearby Similar for Lease

    • Contact for pricing
      2,640 SF

      South Grand Forks Office Space

      Office space in South Grand Forks near I-29.
      4575 32Nd Ave S, Grand Forks, ND 58201
      View Details
    • Contact for pricing
      1,751 SF

      Retail Space in Target Center Outlot

      Retail space available in a busy shopping center outlot.
      3551 32Nd Ave S, Grand Forks, ND 58201
      View Details
    • Contact for pricing
      1,400 SF

      Downtown Retail Space Available

      Corner retail space in downtown Grand Forks with high visibility.
      615 1St Ave N, Grand Forks, ND 58203
      View Details
    • Contact for pricing
      3,400 SF

      Retail Space on 32nd Avenue

      Retail space for lease; landlord can assist with build-out.
      3251 32Nd Ave S, Grand Forks, ND 58201
      View Details
    • Contact for pricing
      9,860 SF

      Memorial Village II Office Space

      Office space for lease in mixed-use apartment building.
      2600 Red Jarrett Way, Grand Forks, ND
      View Details
    • Contact for pricing
      1,850 SF

      Retail Space in Busy Center

      Former frozen yogurt space available for lease in Grand Forks.
      32nd Ave S 3221, Grand Forks, ND
      View Details
    • Contact for pricing
      1,850 SF

      Former Restaurant Space Available

      Restaurant/Cafe space for lease near major shopping areas.
      42 S St, Grand Forks, ND
      View Details
    • Contact for pricing
      11,000 SF

      Industrial Shop Space For Lease

      Up to 11,000 SF shop space available for lease.
      4494 16Th Avenue Cir N, Grand Forks, ND 58203
      View Details
    • Contact for pricing
      152,376 SF

      Warehouse/Office Building on 29 Acres

      Warehouse/Office building with rail access on 29 acres.
      4675 N Washington St, Grand Forks, ND 58201
      View Details
    • $8 SF/Yr
      6,407 SF

      Rivers Edge Offices: Grand Forks

      Modern Grand Forks office suites available.
      311 4Th St, Grand Forks, ND 58203
      View Details
    • $264 SF/Yr
      2,876 SF

      Prime Executive Office Space Available

      Modern Office, Central Location, Ample Parking
      2820 19Th Ave, Grand Forks, ND 58201
      View Details
    • $18 SF/Yr
      22,340 SF

      Grand Forks Medical Office Space

      Prime Medical & Retail Suites Available
      2650 32Nd Ave, Grand Forks, ND 58201
      View Details

    FAQs

    What type of property is this?
    Restaurant - Former Burger King, High Traffic Area
    Where is this restaurant located?
    The property is located at 3765 Gateway Dr Grand Forks, ND.
    What are key features of this property?
    This property features: 4,000 SF former Burger King restaurant, redevelopment opportunity.; 1.23-acre lot at 3765 Gateway Dr, Grand Forks, ND 58203.; High visibility, high traffic counts (22,250 VPD).
    (612) 868-1868 Call to check price and availability
    Request Owner's contact information
    3765 Gateway Dr Grand Forks, ND 58203
    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.
    3765 Gateway Dr
    Grand Forks, ND 58203
    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
    3765 Gateway Dr Grand Forks, ND 58203
    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!
    Contact for Pricing
    Please call us for current price
    and status of this listing Rob Kost
    Rob Kost
    (612) 868-1868 (612) 332-6600 (612) 465-8530
    Learn more
    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!