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    112 2Nd Ave NW Mandan, ND 58554
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    Property profile & analytics

    112 2Nd Ave NW, Mandan, ND 58554

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    • Commercial real estate
    • 7,680 SF
    For Lease
    $6 SF/Yr
    View Listing →
    Mandan Retail Space For Rent For Lease
    $6 SF/Yr
    2,470 SF

    Mandan Retail Space For Rent

    Updated retail space with large windows and ample parking.

    112 2nd Ave NW, Mandan, ND
    View Listing
    Property ID
    US56-0424612
    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.
    Value Estimations
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Commercial real estate

    Property Details for 112 2Nd Ave NW

    Year built
    1940
    Property type
    Commercial real estate

    Description

    This exceptional mixed-use property in downtown Mandan, North Dakota, presents a compelling investment opportunity. The 7,680 square foot building, constructed in 1940 and extensively renovated in 2023, boasts a versatile layout ideal for multiple income streams. The main floor features a 1,400 square foot studio space with a convenient roll-up door, perfect for various uses, and a 2,500 square foot completely renovated flex space with a retail storefront, ready for immediate occupancy. Upstairs, five apartments provide additional rental income

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

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

    Location Insight

    • Map
    • Local Demand
    City
    Mandan
    County
    Morton
    State
    North Dakota
    Longitude
    -100.89285923047
    Latitude
    46.826640839058

    Comparable in this City

    • $475,000

      Mixed-Use Property with Build-Out Potential

      Combined property with office, retail, and build-out opportunities.
      318 W Main St, Mandan, ND 58554
      View Details
    • $225,000
      1,500 SF

      North Mandan Shop Condo - $225K

      1,500 sq ft Mixed-Use Condo, Ready April 2024
      4301 30Th Ave, Mandan, ND 58554
      View Details
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      Versatile Shop with Pull-Through Access

      Well-appointed shop with high ceilings, tandem doors, and ample parking.
      4518 56 Ave Nw, Mandan, ND 58554
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    • Contact for pricing

      Commercial Pad Site Near School

      Commercial land for sale near new Mandan High School.
      2220 4Th Ave NW, Mandan, ND 58554
      View Details
    • Contact for pricing

      Land Parcels Near Waterpark

      Shovel-ready land parcels available near Raging Rivers Waterpark.
      2518 Water Park Loop SE, Mandan, ND 58554
      View Details

    Similar Nearby for Sale

    • $225,000
      1,500 SF

      North Mandan Shop Condo - $225K

      1,500 sq ft Mixed-Use Condo, Ready April 2024
      4301 30Th Ave, Mandan, ND 58554
      View Details
    • $475,000

      Mixed-Use Property with Build-Out Potential

      Combined property with office, retail, and build-out opportunities.
      318 W Main St, Mandan, ND 58554
      View Details
    • Contact for pricing

      Versatile Shop with Pull-Through Access

      Well-appointed shop with high ceilings, tandem doors, and ample parking.
      4518 56 Ave Nw, Mandan, ND 58554
      View Details
    • Contact for pricing

      Commercial Pad Site Near School

      Commercial land for sale near new Mandan High School.
      2220 4Th Ave NW, Mandan, ND 58554
      View Details
    • Contact for pricing

      Land Parcels Near Waterpark

      Shovel-ready land parcels available near Raging Rivers Waterpark.
      2518 Water Park Loop SE, Mandan, ND 58554
      View Details

    Similar Nearby for Lease

    • $400 /Mo

      Historic Office Space in Mandan

      Main floor office space in historic Lewis & Clark Hotel.
      406 W Main St, Mandan, ND 58554
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    • $8 SF/Yr

      Versatile Industrial Property with Office

      Spacious industrial property featuring office space and expansive shop area.
      2909 Twin City Dr, Mandan, ND 58554
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      Retail Space with Patio

      5,100 SF retail space with high visibility and patio.
      4530 Memorial Hwy, Mandan, ND 58554
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    • Contact for pricing
      2,470 SF

      Mandan Retail Space For Rent

      Updated retail space with large windows and ample parking.
      112 2Nd Ave NW, Mandan, ND 58554
      View Details
    • Contact for pricing

      Retail/Office Space for Lease

      1,134 SF retail/office space available for lease.
      105 3Rd Ave NW, Mandan, ND 58554
      View Details
    • Contact for pricing
      898 SF

      Downtown Mandan Retail Space Available

      Retail space in historic Lewis & Clark Building for rent.
      404 West Main St, Mandan, ND 58554
      View Details
    View Listing
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    Mandan, ND 58554
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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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