22 S 3Rd St, Grand Forks, ND 58201

13,520 SF 0.16 ac lot Built 1910

Entity Owned 7-yr Hold ~ Est. High Equity

Property ID

US56-0662752

$1,400,000 13,520 SF

22 S 3Rd St, Grand Forks, ND 58201
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This exceptional multifamily and retail property, known as Epic Place, presents a unique investment opportunity in the heart of Grand Forks, North Dakota. The 13,520 square foot building, constructed in 1910 and extensively renovated in 2019, boasts a captivating blend of historic charm and modern amenities. The property features seven stylish, industrial-chic apartments on the upper floor, currently enjoying 100% occupancy. On the ground floor, a thriving restaurant space adds to the property's diverse income stream. The building sits on a 14,000 square foot lot and is a two-story structure. The asking price is $1,400,000, representing a price per square foot of $103.55 and a pro-forma cap rate of 6.59%. The property's strong performance is reflected in its current pro-forma NOI of $92,217. This fee simple ownership opportunity offers a compelling combination of stable income, historical significance, and prime downtown location adjacent to a vibrant urban park. The property's Class B designation and modified lease type contribute to its overall appeal. The building's iconic presence within the local commercial landscape ensures strong tenant demand and long-term value. The property's APN is 44000100255000.