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    1500 21St Ave NW Minot, ND 58703
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    1500 21St Ave NW, Minot, ND 58703

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    • Retail space
    • 10,320 SF
    For Sale
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    Retail Space For Sale For Sale
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    10,320 SF

    Retail Space For Sale

    Retail space with regional and local tenants, ample parking.

    1500 21st Ave NW, Minot, ND 58703
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    Property ID
    US56-0355351
    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

    • Dr. Scott Engum / Physician
    • Dr. Jessica Sedevie / Physician
    • Aaron Ray Esquibel / Alternative Medicine Practice
    • Virginia Jean Faulkner / Alternative Medicine Practice
    • Ana Tobiasz / Physician

    Property Details for 1500 21St Ave NW

    Year built
    2014
    Property type
    Retail space
    Property subtype
    Storefront properties

    Description

    This exceptional investment opportunity presents a fully leased, 10,320 square foot retail storefront located at 1500 21st Ave NW in Minot, North Dakota. Built in 2014, this single-story building sits on a 50,995 square foot lot and is zoned C2 - General Commercial. The property features three units, boasting a strong tenant lineup of regional and local businesses within a thriving commercial area offering general retail, medical, and food services. Ample on-site parking, a storefront glass entrance, and excellent signage ensure high visibility and accessibility. The building dimensions measure 120 feet by 86 feet. With an asking price of $3,100,000 ($300.39 per square foot), this property is an ideal addition to any investment portfolio. The property's location in Northwest Minot ensures high traffic counts and a strong potential for continued growth and return on investment.

    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
    -101.31774608709
    Latitude
    48.259154728346

    Comparable in this City

    • Contact for pricing

      Retail Space For Sale

      Retail space with regional and local tenants, ample parking.
      1500 21St Ave NW, Minot, ND 58703
      View Details
    • $590,000
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      4,049 SF

      Restaurant Space Near Airport

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      Commercial Lot on Broadway

      34,584 sq ft commercial lot with highway frontage.
      3630 N Broadway, Minot, ND 58703
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      Minot Development Land For Sale

      8.52 acres of commercial land in prime Minot location.
      83 30Th Ave NW, Minot, ND 58703
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    Similar Nearby for Sale

    • Contact for pricing

      Retail Space For Sale

      Retail space with regional and local tenants, ample parking.
      1500 21St Ave NW, Minot, ND 58703
      View Details
    • $590,000
      7,200 SF

      Minot Commercial Property For Sale

      Mixed-use commercial property in high-traffic Minot location with flexible space.
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    • $1,503,163

      Dollar General Investment Opportunity, Minot

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      4,049 SF

      Restaurant Space Near Airport

      4,049 SF restaurant space with high traffic visibility.
      2145 N Broadway, Minot, ND 58703
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      Commercial Lot on Broadway

      34,584 sq ft commercial lot with highway frontage.
      3630 N Broadway, Minot, ND 58703
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    • $900,000

      Minot Development Land For Sale

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    View Listing
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    Minot, ND 58703
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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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