Sign Up Successful!
You now have access to more from Realmo!
Property Lookup
    Property Lookup
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    Back to Search
    The Largest CRE Database in the US with Over 1 Million Listings
    Property profile & analytics

    1970 Columbia Rd Grand Forks, ND 58201

    • Commercial real estate
    • 8,142 SF
    • 2.57 lot acres
    For Lease
    View listing
    $22 SF/Yr
    Value Estimations
    $785,000
    Cap Rate Potential
    8.6%
    Commercial real estate
    Location Intelligence
    Property ID
    US56-0739266
    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

    • First International Bank & Trust / Bank / Loan Service
    • Jersey Mike's Subs / Take-out & Catering / Catering Service
    • T-Mobile Authorized Retailer / Telecommunications Service / Data Center
    • Men's Hair Co. / Hair Salon

    Property Details for 1970 Columbia Rd

    Year built
    1996
    Lot size
    2.57 lot acres
    Property size
    8,142 SF
    Property type
    Commercial real estate
    APN
    44133300002001
    APU
    44133300002001

    Description

    This exceptional opportunity presents two fully built-out restaurant spaces available for lease in a prime Grand Forks, North Dakota location. Situated at 1970 S Columbia Rd, this property boasts a total building size of 20,996 square feet, with 7,902 square feet currently vacant and ready for immediate occupancy. The two individual spaces range in size from 3,477 square feet to 7,902 square feet, offering flexibility for various restaurant concepts. The spaces are described as being in "brand new" condition, indicating a high level of finish and minimal need for renovations. The property's location on South Columbia Road, a major Grand Forks arterial, ensures high visibility and accessibility for potential customers. This is an ideal opportunity for established restaurant businesses seeking expansion or new ventures looking to establish a presence in a thriving market. The property is located in Grand Forks County, North Dakota, zip code 58201. The building's multiple tenancy structure provides a dynamic environment, and the available spaces are ready for immediate use. This is a rare opportunity to secure a well-located, fully built-out restaurant space in a desirable area. Interested parties should inquire promptly to secure their preferred space.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      ML approach
      $600,000

    • CAP approach

      CAP Return
      Estimation
      6%
      $860,000
      6.5%
      $795,000
      7%
      $740,000

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $1,068,000
      Market price range: $549k - $1.07M
      AI Estimate
      $679,000
      Market price range: $223k - $679k

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

    Location Insight

    • Map
    • Local Demand
    City
    Grand Forks
    County
    Grand Forks
    State
    North Dakota
    Longitude
    -97.0673
    Latitude
    47.901
    CBSA code
    24220
    CBSA name
    GRAND FORKS, ND-MN METROPOLITAN STATISTICAL AREA

    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
    $68,284
    $504,000
    $1,430,500
    $1,934,500
    -
    $1,008,000
    $2,861,000
    $3,869,000

    Comparable in this City

    • Value Estimation by Request

      2020 Bentley Dr

      COMMERCIAL (GENERAL)
      2020 Bentley Dr, Grand Forks, ND 58201-8884
      View Details
    • Value Estimation by Request

      Grand Forks, ND 58201

      COMMERCIAL (GENERAL)
      Grand Forks, ND 58201
      View Details
    • Value Estimation by Request
      0.15 Acres

      2744 17th S Ave

      COMMERCIAL (GENERAL) • 0.15 Acres
      2744 17th S Ave, Grand Forks, ND 58201
      View Details
    • Value Estimation by Request

      4313 18th S Ave

      COMMERCIAL (GENERAL)
      4313 18th S Ave, Grand Forks, ND 58201
      View Details
    • Value Estimation
      $535,000
      3.21 Acres

      4350 32nd S Ave

      COMMERCIAL (GENERAL) • 3.21 Acres
      4350 32nd S Ave, Grand Forks, ND 58201-3307
      View Details
    • Value Estimation by Request

      2655 34th St

      COMMERCIAL (GENERAL)
      2655 34th St, Grand Forks, ND 58201-6514
      View Details

    Similar Nearby for Sale

    • $488,732
      3.74 Acres

      Grand Forks Industrial Land - 3.74 Acres

      Prime Industrial Land, Grand Forks, ND
      7251 42Nd St, Grand Forks, ND 58201
      View Details
    • $4,320,000
      20.65 Acres

      Grand Forks Commercial Land Opportunity

      20 Acres, Prime Commercial Location, $4.32M
      1751 42Nd St, Grand Forks, ND 58201
      View Details
    • $266,206

      Grand Forks Commercial Land Parcel

      Prime Commercial Lot, 25,353 SF
      1150 40Th Ave, Grand Forks, ND 58201
      View Details
    • $1,900,000
      99,146 SF

      Grand Forks Retail Giant - Macy's

      Prime Retail Space, 99,146 SF
      2800 Columbia Rd, Grand Forks, ND 58201
      View Details
    • $469,999

      Commercial Land in Office Park

      Commercial land available in a professional office park.
      3751 S Columbia Rd, Grand Forks, ND 58201
      View Details
    • $3,150,000
      12,196 SF

      SOCO 4399: Grand Forks Office Park

      Modern Grand Forks Office Building, High Occupancy
      4399 Columbia Rd, Grand Forks, ND 58201
      View Details

    Similar Nearby for Lease

    • $22 SF/Yr
      24,678 SF

      Grand Forks Medical Office Space

      Modern medical suites, ample parking.
      3221 32Nd Ave, Grand Forks, ND 58201
      View Details
    • $18 SF/Yr
      3,580 SF

      Grand Forks Retail Space For Lease

      Prime Retail, 1,500-2,080 SF Available
      4002 Washington St, Grand Forks, ND 58201
      View Details
    • $1.50 SF/Yr

      Land Lease Opportunity

      Land lease with customizable parcel sizes available.
      1700 S Washington St, Grand Forks, ND 58201
      View Details
    • Contact for pricing
      1,751 SF

      Retail Space in Target Center Outlot

      Retail space available in a busy shopping center outlot.
      3551 32Nd Ave S, Grand Forks, ND 58201
      View Details
    • $12 SF/Yr
      1,000 SF

      Grand Forks Office Suites Available

      Affordable Grand Forks office space, various sizes.
      1407 24Th Ave, Grand Forks, ND 58201
      View Details
    • $18 SF/Yr
      22,340 SF

      Grand Forks Medical Office Space

      Prime Medical & Retail Suites Available
      2650 32Nd Ave, Grand Forks, ND 58201
      View Details
    Request Owner's contact information
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    1970 Columbia Rd
    Grand Forks, ND 58201
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    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
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    Google sign-in failed. Please try again or use another login method.