Sign Up Successful!
You now have access to more from Realmo!
Property Lookup
    Property Lookup
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    The Largest CRE Database in the US with Over 1 Million Listings
    Property profile & analytics

    31St Ave Minot, ND 58701

    • Land
    • 3.89 lot acres
    OFF-MARKET
    Value Estimations
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Land

    Property Details for 0 31St Ave

    Lot size
    3.89 lot acres
    Property type
    Land

    Description

    This exceptional 3.89-acre commercial lot, located at 31st Ave. SW in Minot, North Dakota, presents a unique investment opportunity. Situated within the desirable Highlander Estates Subdivision, this unimproved land boasts a prime location directly across from the recently constructed Trinity Hospital and adjacent to the burgeoning Tracks of Minot development. The property is zoned R4, offering considerable flexibility for a variety of commercial uses. Its strategic position within a rapidly expanding area ensures high visibility and accessibility, making it ideal for businesses seeking a prominent presence in Minot. The lot's size provides ample space for substantial development, catering to a wide range of commercial projects. With its proximity to a major hospital and a thriving development project, this property offers significant potential for long-term growth and return on investment. The address is 31st Ave. SW, Minot, Ward County, North Dakota, 58701. The asking price for this exceptional commercial land is $678,388. This is a rare opportunity to acquire a substantial commercial parcel in a high-growth area of Minot. The property is located within city limits.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

    Location Insight

    • Map
    • Local Demand
    City
    Minot
    County
    Ward
    State
    North Dakota
    Longitude
    -101.311
    Latitude
    48.203

    Comparable in this City

    • Value Estimation by Request
      11.93 Acres

      21St Ave

      Land • 11.93 Acres
      0 21St Ave, Minot, ND 58701
      View Details
    • Value Estimation by Request
      9.98 Acres

      31St Ave

      Land • 9.98 Acres
      0 31St Ave, Minot, ND 58701
      View Details
    • Value Estimation by Request
      3.49 Acres

      23Rd St

      Land • 3.49 Acres
      0 23Rd St, Minot, ND 58701
      View Details
    • Value Estimation by Request
      9.71 Acres

      29Th Ave

      Land • 9.71 Acres
      0 29Th Ave, Minot, ND 58701
      View Details
    • Value Estimation by Request
      6.41 Acres

      23Rd St

      Land • 6.41 Acres
      0 23Rd St, Minot, ND 58701
      View Details
    • Value Estimation by Request
      9.05 Acres

      23Rd St

      Land • 9.05 Acres
      0 23Rd St, Minot, ND 58701
      View Details

    Similar Nearby for Sale

    • Contact for pricing
      2.91 Acres

      Prime Minot Commercial Land

      2.91 Acres, High-Traffic Location
      0 31St Ave, Minot, ND 58701
      View Details
    • $1,795,000
      11.93 Acres

      Minot Commercial Land - 11.93 Acres

      Prime Commercial Lot, Minot, ND
      0 21St Ave, Minot, ND 58701
      View Details
    • $581,000
      7.33 Acres

      Prime Minot Commercial Land

      7.33-Acre Commercial Lot, Ideal Location
      25 54Th Ave, Minot, ND 58701
      View Details
    • $14,496,770

      Prime Minot Commercial Land

      1.4M sq ft, AG Zoning, $10/SF
      2305 37Th Ave, Minot, ND 58701
      View Details
    • Contact for pricing
      4.23 Acres

      US-83 Byp

      Land • 4.23 Acres
      US-83 Byp, Minot, ND 58701
      View Details
    • $815,000
      0.79 Acres

      Prime Minot Commercial Land

      0.79-acre lot near Trinity Hospital
      2101 36Th Ave, Minot, ND 58701
      View Details

    Similar Nearby for Lease

    • Contact for pricing
      4,103 SF

      Minot Office Space for Lease

      Modern Office Suites Available in Minot, ND
      1408 20Th Ave, Minot, ND 58701
      View Details
    • $16 SF/Yr
      7,000 SF

      Fountain Plaza Office Space

      Downtown Minot Office, 1,350 SF Available
      100 Main St, Minot, ND 58701
      View Details
    • $12 SF/Yr
      12,750 SF

      Prime Minot Office & Warehouse

      12,750 SF Office/Warehouse, 5.94 Acres
      520 64Th St, Minot, ND 58701
      View Details
    • $10 SF/Yr
      4,645 SF

      Prime Minot Retail Space

      Highly visible, 4,645 sq ft retail space.
      1601 Broadway, Minot, ND 58701
      View Details
    • $17 SF/Yr
      12,000 SF

      Prime Retail Space in Minot

      Retail space in the heart of Minot with high visibility.
      1015 S Broadway, Minot, ND 58701
      View Details
    • Contact for pricing
      3,470 SF

      Minot Medical Office Space Available

      Prime Medical & Office Suites in Lindquist Square
      1933 Broadway, Minot, ND 58701
      View Details
    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.
    31St Ave
    Minot, ND 58701
    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

    Google sign-in failed. Please try again or use another login method.