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    207 6Th Ave Crosby, ND 58730
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    207 6Th Ave, Crosby, ND 58730

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    • Commercial real estate
    • 22,940 SF
    For Sale
    $1,300,000
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    Crosby, ND Multi-Family Complex For Sale
    $1,300,000
    22,940 SF

    Crosby, ND Multi-Family Complex

    18-Unit Apartment Building, High ROI Potential

    207 6Th Ave, Crosby, ND 58730
    View Listing
    Property ID
    US56-0334110
    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 207 6Th Ave

    Year built
    2015
    Property type
    Commercial real estate
    APN
    34-0000-77780-003

    Description

    This exceptional 18-unit apartment complex in Crosby, North Dakota, presents a compelling investment opportunity. Built in 2015, the property boasts 22,940 square feet on an 86,250 square foot lot and is situated on 207 6th Ave SW, 58730. The building features a mix of unit sizes, including sixteen 2-bedroom/2-bathroom units, one 3-bedroom/2-bathroom unit, and one 1-bedroom/1-bathroom unit. Each unit is designed with an open-concept living space, walk-in closets, and in-unit laundry. Many units include private patios or decks. Residents also enjoy access to a community room with a kitchen. The property is well-maintained and offers secure 24/7 access. Its prime location offers convenient access to Main Street, local restaurants, shops, parks, and schools. The asking price is $1,300,000, representing a price per unit of $72,222.22 and a price per square foot of $56.67. The property is zoned C-13 and features a single, two-story building. This complex offers above-average rental rates compared to similar properties in the area, making it an attractive investment with strong potential for future growth. The APN is 34-0000-77780-003.

    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
    Crosby
    County
    Divide
    State
    North Dakota
    Longitude
    -103.2999589
    Latitude
    48.907893

    Comparable in this City

    • Contact for pricing

      Fully Leased Multifamily Property

      Well-maintained 24-unit multifamily property in Crosby, North Dakota.
      1003 2Nd St SE, Crosby, ND 58730
      View Details
    • $1,300,000
      22,940 SF

      Crosby, ND Multi-Family Complex

      18-Unit Apartment Building, High ROI Potential
      207 6Th Ave, Crosby, ND 58730
      View Details
    • $385,000
      4,038 SF

      11 Main St, Crosby, ND 58730

      Commercial real estate
      11 Main St, Crosby, ND 58730
      View Details
    • $1,424,492

      New Dollar General NNN Lease

      New construction Dollar General with 15-year absolute NNN lease.
      4th 4Th St SE, Crosby, ND 58730
      View Details
    • $165,000
      1,644 SF

      702 4Th St, Crosby, ND 58730

      Commercial real estate
      702 4Th St, Crosby, ND 58730
      View Details

    Similar Nearby for Sale

    • Contact for pricing

      Fully Leased Multifamily Property

      Well-maintained 24-unit multifamily property in Crosby, North Dakota.
      1003 2Nd St SE, Crosby, ND 58730
      View Details
    • $1,300,000
      22,940 SF

      Crosby, ND Multi-Family Complex

      18-Unit Apartment Building, High ROI Potential
      207 6Th Ave, Crosby, ND 58730
      View Details
    • $385,000
      4,038 SF

      11 Main St, Crosby, ND 58730

      Commercial real estate
      11 Main St, Crosby, ND 58730
      View Details
    • $1,424,492

      New Dollar General NNN Lease

      New construction Dollar General with 15-year absolute NNN lease.
      4th 4Th St SE, Crosby, ND 58730
      View Details
    • $165,000
      1,644 SF

      702 4Th St, Crosby, ND 58730

      Commercial real estate
      702 4Th St, Crosby, ND 58730
      View Details
    View Listing
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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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