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    Property profile & analytics

    709 Main St New England, ND 58647

    • Turn key restaurants
    • 2,250 SF
    • 0.08 lot acres
    For Sale
    View listing
    $82,900
    Value Estimations
    Cap Rate Potential
    Location Intelligence
    Property ID
    US56-0247703
    The Realmo ID is a unique identifier assigned to every property, incorporating country codes and precise geo-coordinates for 300x300-foot land blocks. It enables standardized data collection and seamless integration of disparate sources such as ownership, tax, title data and physical specifications. By aggregating current and historical records, the Realmo ID powers advanced analytics and delivers deep, verifiable insights for real estate professionals.

    Current Use by Public Records

    • Turn key restaurants

    Property Details for 709 Main St

    Year built
    1920
    Lot size
    0.08 lot acres
    Property size
    2,250 SF
    Property type
    Turn key restaurants
    APN
    35000306710000
    APU
    35000306710000

    Description

    This exceptional commercial property, located at 709 Main Street in New England, North Dakota, presents a unique investment opportunity. The 3,750 square foot warehouse sits on a 0.09-acre lot and is zoned for commercial use, offering considerable versatility. The main level boasts a spacious area ideal for various business applications, complemented by a pre-existing kitchen and a former coffee bar setup. This adds significant value and potential for immediate use or adaptation. Further enhancing its appeal, the property includes a fully finished basement. This lower level features a kitchen, a bathroom, and a large living area, providing ample additional space for storage, office functions, or even residential conversion, subject to local regulations. Situated in the heart of New England, ND, this Main Street location offers excellent visibility and accessibility, making it an attractive proposition for a wide range of businesses. The asking price is $82,900. This property is ready for immediate occupancy and presents a compelling opportunity to establish or expand your business in a thriving North Dakota community. The zip code is 58647, and the property is located in Hettinger County.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      ML approach
      $265,000

    Get a detailed, property-specific valuation — fast and free

    Location Insight

    • Map
    • Local Demand
    City
    New England
    County
    Hettinger
    State
    North Dakota
    Longitude
    -102.868
    Latitude
    46.5384

    Property Tax & Assessments

    Tax date
    Tax Amount
    Assessed Land Value
    Assessed Improvement Value
    Total Assessed Value
    Applied Tax Rate
    Land Market Value
    Improvement Market Value
    Total Market Value
    2023
    $990
    $1,650
    $19,900
    $21,550
    -
    $3,300
    $39,800
    $43,100

    Comparable in this City

    • Value Estimation
      $285,000
      5,494 SF

      721 Main St

      BAR, TAVERN • 5,494 SF
      721 Main St, New England, ND 58647
      View Details
    • Value Estimation
      $325,000
      11,138 SF

      24 8th St

      BAR, TAVERN • 11,138 SF
      24 8th St, New England, ND 58647
      View Details
    • Value Estimation
      $260,000
      7,750 SF

      820 Main St

      RETAIL STORES (PERSONAL SERVICES) • 7,750 SF
      820 Main St, New England, ND 58647
      View Details
    • Value Estimation
      $275,000
      1,664 SF

      900 Main St

      FINANCIAL BUILDING • 1,664 SF
      900 Main St, New England, ND 58647-7004
      View Details
    • Value Estimation
      $285,000
      2,163 SF

      729 Main St

      LAUNDROMAT (SELF-SERVICE) • 2,163 SF
      729 Main St, New England, ND 58647-7001
      View Details
    • Value Estimation
      $285,000
      1,195 SF

      Main St

      VEHICLE SALES, RENTALS • 1,195 SF
      Main St, New England, ND 58647
      View Details
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    709 Main St
    New England, ND 58647
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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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