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    607/621-625Demers Ave East Grand Forks, MN 56721
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    Property profile & analytics

    607/621-625Demers Ave East Grand Forks, MN 56721

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    • Office Spaces
    • 14,838 SF
    Off-Market
    Value Estimations
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Office Spaces

    Property Details for 0 607/621-625Demers Ave

    Property size
    14,838 SF
    Property type
    Office Spaces
    Property subtype
    Medical Office Space

    Description

    This exceptional 14,838 square foot medical office building in East Grand Forks, Minnesota, offers a unique opportunity for healthcare professionals. Located at 607/621-625 Demers Ave, 56721, this prime location boasts high traffic counts and ample parking, situated directly across from City Hall. The property features multiple suites ranging from 719 to 6,509 contiguous square feet, all currently vacant and immediately available. Units are available on both the first and second floors and offer a variety of configurations, including open areas, private offices, and private restrooms. A shared lounge/kitchenette area adds convenience. The building is ideal for medical practices of all sizes, offering flexibility with the ability to combine spaces to meet specific needs. Tenant improvement allowances are negotiable, making this an attractive option for businesses seeking a move-in ready space or those requiring customization. This property offers a fantastic opportunity to join established healthcare providers Sanford Health and Altru Health in a thriving location. The property is in Polk County and is easily accessible.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

    Location Insight

    • Map
    • Local Demand
    City
    East Grand Forks
    County
    Polk
    State
    Minnesota
    Longitude
    -97.0223
    Latitude
    47.9328

    Comparable in this City

    • Value Estimation
      $605,000
      36,715 SF

      621 Demers Ave, Unit 625

      MEDICAL BUILDING • 36,715 SF
      621 Demers Ave, East Grand Forks, MN 56721-1812
      View Details
    • Value Estimation by Request
      8,256 SF

      1428 Central NE Ave

      MEDICAL BUILDING • 8,256 SF
      1428 Central NE Ave, East Grand Forks, MN 56721-1605
      View Details
    • Value Estimation by Request
      2,674 SF

      1421 Central NW Ave

      MEDICAL BUILDING • 2,674 SF
      1421 Central NW Ave, East Grand Forks, MN 56721-1617
      View Details
    • Value Estimation by Request
      3,500 SF

      706 Demers Ave

      MEDICAL BUILDING • 3,500 SF
      706 Demers Ave, East Grand Forks, MN 56721-1842
      View Details
    • Value Estimation by Request
      4,572 SF

      421 Demers Ave

      MEDICAL BUILDING • 4,572 SF
      421 Demers Ave, East Grand Forks, MN 56721-1835
      View Details
    • Value Estimation by Request
      4,297 SF

      1416 Central NE Ave

      MEDICAL BUILDING • 4,297 SF
      1416 Central NE Ave, East Grand Forks, MN 56721-1605
      View Details
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    East Grand Forks, MN 56721
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    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
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