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    622 Main St Lansford, ND 58750

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    622 Main St Lansford, ND 58750

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    • Industrial properties
    • 5,728 SF
    Off-Market
    Value Estimations
    Cap Rate Potential
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    Current Use by Public Records

    • Industrial properties

    Property Details for 622 Main St

    Year built
    1966
    Property size
    5,728 SF
    Property type
    Industrial properties
    Property subtype
    Flex space

    Description

    This exceptional investment opportunity presents a 5,728 square foot multi-tenant flex space building situated on a 14,000 square foot lot in Lansford, North Dakota. Located at 622 Main St, with zip code 58750, this property boasts a strategic location, just 31 miles from Minot, ND, offering convenient access to regional transportation networks and a growing market. Built in 1966, the building is structurally sound and ready for immediate occupancy. Previously utilized as a Chevrolet dealership and auto repair facility, the versatile layout includes dedicated office space, a spacious showroom, a parts storage area, and a well-equipped shop featuring three overhead doors. The asking price is $150,000, translating to a price per square foot of $26.19. The property's APN is 57-0000-01690-000. This adaptable space presents a multitude of potential uses for a variety of businesses, making it an ideal investment for both seasoned and emerging entrepreneurs seeking a strong foothold in a thriving community. The ample lot size provides additional potential for expansion or outdoor storage. Don't miss this chance to acquire a well-maintained, strategically located property with significant upside potential.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

    Location Insight

    • Map
    • Local Demand
    City
    Lansford
    County
    Bottineau
    State
    North Dakota
    Longitude
    -101.375
    Latitude
    48.6289

    Comparable in this City

    • Value Estimation by Request

      Lansford, ND 58750

      VACANT COMMERCIAL LAND
      Lansford, ND 58750
      View Details
    • Value Estimation by Request

      Lansford, ND 58750

      VACANT COMMERCIAL LAND
      Lansford, ND 58750
      View Details
    • Value Estimation by Request

      750 Main St, Unit A

      COMMERCIAL (GENERAL)
      750 Main St, Lansford, ND 58750-5043
      View Details
    • Value Estimation by Request

      Lansford, ND 58750

      VACANT COMMERCIAL LAND
      Lansford, ND 58750
      View Details
    • Value Estimation by Request

      Lansford, ND 58750

      COMMERCIAL (GENERAL)
      Lansford, ND 58750
      View Details
    • Value Estimation by Request

      Lansford, ND 58750

      VACANT COMMERCIAL LAND
      Lansford, ND 58750
      View Details
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    Lansford, ND 58750
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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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    622 Main St, Lansford, ND, 58750

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