Add Listing
    Property Lookup
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    217 Chestnut St Grand Forks, ND 58201-4661

    Property Lookup

    Back to Search
    The Largest CRE Database in the US with Over 1 Million Listings
    Property profile & analytics

    217 Chestnut St Grand Forks, ND 58201-4661

    View on Map
    • Commercial real estate
    • 11,072 SF
    • 0.32 lot acres
    Off-Market
    Property ID
    US56-0730209
    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
    $675,000
    Show details
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Commercial real estate

    Property Details for 217 Chestnut St

    Year built
    1903
    Lot size
    0.32 lot acres
    Property size
    11,072 SF
    Property type
    Commercial real estate
    APN
    44300400074000
    APU
    44300400074000

    Description

    This well-maintained, 8-unit apartment building located at 217 Chestnut St, Grand Forks, ND 58201, presents a compelling investment opportunity. The property boasts a strong 6.45% capitalization rate and a current NOI of $86,718, with 100% occupancy projected until November 14, 2024. The building is a two-story Class B multifamily property, featuring a mix of one, one-and-a-half, and three-bathroom units. Significant renovations were completed in 2016, 2018, and 2022, ensuring the property is in excellent condition and ready for immediate income generation. The asking price is $1,345,000. The property's historical character has been preserved while incorporating modern updates, creating a desirable living environment for tenants. Detailed information is available in the attached brochure. This is a rare opportunity to acquire a stable, high-performing multifamily asset in a growing market. The property is being offered for sale by owner. This is a turnkey investment, ideal for an experienced investor seeking a strong return on investment. The property's location in Grand Forks, North Dakota provides access to a stable rental market. Don't miss this chance to add a valuable asset to your portfolio.

    Value Estimations

    based on Realmo’s proprietary methodology

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $774,000
      Market price range: $746k - $1.45M
      AI Estimate
      $462,000
      Market price range: $304k - $924k

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

    Location Insight

    • Map
    • Local Demand
    City
    Grand Forks
    County
    Grand Forks
    State
    North Dakota
    Longitude
    -97.0297
    Latitude
    47.9197
    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
    $11,136
    $35,000
    $280,000
    $315,000
    -
    $70,000
    $560,000
    $630,000

    Comparable in this City

    • Value Estimation by Request

      2023 Empire Ct

      COMMERCIAL (GENERAL)
      2023 Empire Ct, Grand Forks, ND 58201-8882
      View Details
    • Value Estimation by Request

      4236 Tamarack Dr

      COMMERCIAL (GENERAL)
      4236 Tamarack Dr, Grand Forks, ND 58201-8525
      View Details
    • Value Estimation by Request

      Grand Forks, ND 58201

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

      4401 11th St

      COMMERCIAL (GENERAL) • 1.52 Acres
      4401 11th St, Grand Forks, ND 58201-7238
      View Details
    • Value Estimation by Request
      0.16 Acres

      1419 12th S Ave

      COMMERCIAL (GENERAL) • 0.16 Acres
      1419 12th S Ave, Grand Forks, ND 58201-5446
      View Details
    • Value Estimation by Request
      0.13 Acres

      617 16th St

      COMMERCIAL (GENERAL) • 0.13 Acres
      617 16th St, Grand Forks, ND 58201
      View Details

    Similar Nearby for Sale

    • Contact for pricing
      38,834 SF

      311 S 4th St, Grand Forks, ND 58201

      Office buildings • 38,834 SF
      311 S 4Th St, Grand Forks, ND 58201
      View Details
    • Contact for pricing
      1,040 SF

      Versatile Condos Near Interstate 29

      Functional condos perfect for hobbies, business, or storage.
      2975 Heartland Dr, Grand Forks, ND 58201
      View Details
    • Contact for pricing
      12,196 SF

      SOCO Professional Park Office Buildings

      Two-building office park with modern design and flexible tenant spaces.
      4303 S Columbia Rd, Grand Forks, ND 58201
      View Details
    • Contact for pricing
      2,484 SF

      Modern Office Space For Sale

      Contemporary office space in a growing Grand Forks location.
      4500 36Th Ave S, Grand Forks, ND 58201
      View Details
    • $925,000

      Grand Forks Investment Property

      Well-maintained commercial property with long-term tenant in central Grand Forks.
      1010 S Washington St, Grand Forks, ND 58201
      View Details
    • Contact for pricing
      12,196 SF

      SOCO Professional Park Office Buildings

      Two-building office park with modern design and high-quality construction.
      4399 S Columbia Rd, Grand Forks, ND 58201
      View Details

    Similar Nearby for Lease

    • $18 SF/Yr

      Grand Forks Retail/Office/Medical Space

      Retail, medical, and office spaces available at busy corner.
      2650 32Nd Ave S, Grand Forks, ND 58201
      View Details
    • Contact for pricing

      Variety of Office Spaces Available

      Office spaces available in South Point Business Center.
      1407 24Th Ave S, Grand Forks, ND 58201
      View Details
    • Contact for pricing
      3,314 SF

      Downtown Office Space with Patio

      Second-floor office space with private patio in downtown Grand Forks.
      15 S 4Th St, Grand Forks, ND 58201
      View Details
    • Contact for pricing
      10,916 SF

      Retail, Office, Medical Space Available

      Main floor space available in South Columbia corridor.
      4177 S Columbia Rd, Grand Forks, ND 58201
      View Details
    • Contact for pricing

      Versatile Industrial/Retail Space Available

      6300 SF end bay suitable for various business types.
      623 South 48Th St, Grand Forks, ND 58201
      View Details
    • Contact for pricing

      High-Visibility Retail/Office Space Available

      2,460 SF retail/office space in desirable commercial corridor.
      1375 S Columbia Rd, 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.
    217 Chestnut St
    Grand Forks, ND 58201-4661
    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.
    Sign Up Successful!
    You now have access to more from Realmo!