Office Spaces with Downtown
For Sale
Contact for pricing
600 Demers Ave, Grand Forks, ND 58201
Two office spaces available with walkable access to amenities.
Property Size3,925 SF
Price / SF$0.00
Days on Market1897
Property Features for 600 Demers Ave
General Information
Standard status
Active
Size
3,925 SF
Class
B
Property subtype
Office
Zoning
B-3
Lease Type
NNN
Building Details
Year Renovated
2024
Buildings
1
Stories
5
Tenancy
Single
Listing Agency:
Berkshire Hathaway HomeServices Family Realty
Listed By:
Michael Marcotte · License #8744
(701) 885-2441
Source:
Crexi
Added: Aug 23, 2021
Changed: Oct 26
Last Checked: Oct 30 at 11:20AM
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 Berkshire Hathaway HomeServices Family Realty
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Review the available facts, identify missing information and prepare questions for the agent.
Investment Insights
Based on property information with market context.
Two office spaces are available. One option is a 720-square-foot space featuring two offices and a reception area. The other is a 3325-square-foot second-floor office with a glass wall entry, conference room, and perimeter offices. The perimeter offices offer downtown views through large windows. The location provides walkable access to shops, dining options, and a grocery store. Utilities are covered in the CAM.
Key Highlights
- Two office space options available: 720 sq ft or 3325 sq ft.
- The larger office features a glass wall entry, conference room, and perimeter offices with downtown views.
- Walkable access to shops, dining, and a grocery store.
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$38,858
Suggested Prices Based on Cap Rates
Cap Rate 5%
$777,160
$777.2K
Cap Rate 7%
$555,114
$555.1K
Cap Rate 9%
$431,756
$431.8K
Market Conditions
NOI Build-Up for 3,925 SF
Gross rent
$58.9K $15.00/SF
− Vacancy
−$7.1K −$1.80/SF
EGI
$51.8K $13.20/SF
− OpEx
−$13.0K −$3.30/SF
NOI
$38.9K $9.90/SF
Area
Grand Forks County, ND
Vacancy
12.00%
Lease Rate
$15.00 /SF/Yr
Expense Ratio
25.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$777,160
Cap Rate 7%
$555,114
Cap Rate 9%
$431,756
Alternative Uses
Best Use
Office B
$555.1K
$485.7K – $647.6K
NOI $38,858 @ 7.0% cap · market cap 242,862.50%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$726.7K
$635.9K – $847.8K
NOI $50,868 @ 7.0% cap · market cap 317,925.00%
Zoning and permitted uses should be independently verified with authorities.
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Property Analytics
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Current Use
Location Intelligence
Trade Area within ½ mile
1,319
Businesses Nearby
Explore this area
Business Placement
Demographics for 58201, ND
42,598
Population
20,277
Households
2.1
Avg Household Size
34
Median Age
40%
College-Educated
96%
High-School Grad
69.0 sq mi
ZIP Area
617
Density / Sq Mi
$69,120
Median Household Income
$43,503
Median Earnings
$966
Median Rent
$274,000
Median Home Value
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Market
Vacancy Rate% for Office in Midwest region
Frequently Asked Questions
What type of property is this?
Office unit - Two office spaces available with walkable access to amenities.
Where is this office unit located?
The property is located at 600 Demers Ave Grand Forks, ND.
What are key features of this property?
This property features: Two office space options available: 720 sq ft or 3325 sq ft.; The larger office **features a glass wall entry, conference room, and perimeter offices with downtown views.**; Walkable access to shops, dining, and a grocery store.
