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    1425 24Th Ave Minot, ND 58701
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    Property profile & analytics

    1425 24Th Ave, Minot, ND 58701

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    • Commercial real estate
    • 59,446 SF
    Off-Market
    Property ID
    US56-0235366
    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

    • Pacific Sound & Video / Electronics & Wireless Store
    • Basecamp Indian kitchen / Restaurant
    • Miracle-Ear Hearing Aid Center / Hearing Aid Store / Hearing Aid Repair Service
    • Plato's Closet / Clothing Store

    Property Details for 1425 24Th Ave

    Year built
    1995
    Property type
    Commercial real estate

    Description

    This single-tenant retail property, located at 1425 24th Ave SW STE 1, Minot, ND 58701, offers 4,000 square feet of space in a high-traffic area near the Dakota Square Mall Road. The building, constructed in 1995, is situated on a single story and comprises a total of 59,446 square feet. The property features multiple media rooms, ample storage, and a convenient garage/shop. The zoning is C4, and the APN is MI35.913.000.0010. The property is located in Ward County and is easily accessible from 16th St and Mall Road. The previous tenant operated an electronics, stereo, and security system sales and installation business. The lease terms stipulate that the tenant is responsible for all utilities except water and sewer. This presents a unique opportunity for a business seeking high visibility and convenient access in a thriving Minot commercial district. The property's size and features make it suitable for a variety of retail uses. This is a single-tenant building, offering a streamlined ownership experience.

    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
    Minot
    County
    Ward
    State
    North Dakota
    Longitude
    -101.31539992891
    Latitude
    48.207633150916

    Comparable in this City

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      2,610 SF

      Retail Space Near Dakota Square

      Retail space adjacent to Dakota Square Mall and Cash Wise.
      3200-3320 16Th St SW, Minot, ND 58701
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      159,780 SF

      Retail Space Near Dakota Square

      Retail space anchored by Cash Wise near Dakota Square Mall.
      3208-3220 16Th St SW, Minot, ND 58701
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      12,000 SF

      Prime Retail Space in Minot

      Retail space in the heart of Minot with high visibility.
      1015 S Broadway, Minot, ND 58701
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      Enclosed Shopping Mall Retail Space

      Retail space in a regional enclosed shopping mall.
      2400 10Th St, Minot, ND 58701
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      Minot Office Suites For Rent

      First floor office suites in Midtown Plaza, Minot, ND.
      212/216 S Broadway Minot, Minot, ND 58701
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    • Contact for pricing

      Warehouse and Office Space Available

      Build-to-suit warehouse and existing office space for lease.
      520 64Th St SE, Minot, ND 58701
      View Details

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      Minot Commercial Investment Opportunity

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    Similar Nearby for Lease

    • Contact for pricing
      2,610 SF

      Retail Space Near Dakota Square

      Retail space adjacent to Dakota Square Mall and Cash Wise.
      3200-3320 16Th St SW, Minot, ND 58701
      View Details
    • Contact for pricing
      159,780 SF

      Retail Space Near Dakota Square

      Retail space anchored by Cash Wise near Dakota Square Mall.
      3208-3220 16Th St SW, Minot, ND 58701
      View Details
    • Contact for pricing
      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

      Enclosed Shopping Mall Retail Space

      Retail space in a regional enclosed shopping mall.
      2400 10Th St, Minot, ND 58701
      View Details
    • Contact for pricing

      Minot Office Suites For Rent

      First floor office suites in Midtown Plaza, Minot, ND.
      212/216 S Broadway Minot, Minot, ND 58701
      View Details
    • Contact for pricing

      Warehouse and Office Space Available

      Build-to-suit warehouse and existing office space for lease.
      520 64Th St SE, Minot, ND 58701
      View Details
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    1425 24Th Ave
    Minot, ND 58701
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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.

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