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

    3051 34th St Grand Forks, ND 58201-5903

    • Commercial real estate
    • 29,040 SF
    • 1.10 lot acres
    OFF-MARKET
    Last Sale
    Nov 15, 2022
    Value Estimations
    $1,755,000
    Show details
    Cap Rate Potential
    Location Intelligence
    Property ID
    US56-0663167
    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

    • Fairfield Inn Grand Forks / Hotel & Motel
    • AmeriVu Inn and Suites - Grand Forks / Hotel & Motel

    Property Details for 3051 34th St

    Year built
    1991
    Lot size
    1.10 lot acres
    Property size
    29,040 SF
    Property type
    Commercial real estate
    APN
    44132600004003
    APU
    44132600004003

    Value Estimations

    based on Realmo’s proprietary methodology

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $2,179,000
      Market price range: $1.96M - $3.81M
      AI Estimate
      $1,299,000
      Market price range: $797k - $2.42M

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

    Location Insight

    • Map
    • Local Demand
    City
    Grand Forks
    County
    Grand Forks
    State
    North Dakota
    Longitude
    -97.0769
    Latitude
    47.8915
    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
    $31,234
    $312,000
    $574,000
    $886,000
    -
    $624,000
    $1,148,000
    $1,772,000

    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
    • $2,995,000
      38,834 SF

      River's Edge Office Building Investment

      Downtown Grand Forks Office Complex, High Occupancy
      311 4Th St, Grand Forks, ND 58201
      View Details
    • $3,300,000
      12,196 SF

      Grand Forks Office Park Investment

      Modern Office Park, 12,196 SF, 80% Occupied
      4303 Columbia Rd, Grand Forks, ND 58201
      View Details
    • $199,780
      1,040 SF

      Heartland Caves Condo: Grand Forks

      Mixed-use condo, perfect man cave
      2975 Heartland Dr, Grand Forks, ND 58201
      View Details

    Similar Nearby for Lease

    • $264 SF/Yr
      2,876 SF

      Prime Executive Office Space Available

      Modern Office, Central Location, Ample Parking
      2820 19Th Ave, Grand Forks, ND 58201
      View Details
    • Contact for pricing
      152,376 SF

      Warehouse/Office Building on 29 Acres

      Warehouse/Office building with rail access on 29 acres.
      4675 N Washington St, Grand Forks, ND 58201
      View Details
    • Contact for pricing
      3,400 SF

      Retail Space on 32nd Avenue

      Retail space for lease; landlord can assist with build-out.
      3251 32Nd Ave S, Grand Forks, ND 58201
      View Details
    • $21 SF/Yr
      1 SF

      Grand Forks Retail Space For Lease

      Prime retail space, high traffic location.
      3750 32Nd Ave, Grand Forks, ND 58201
      View Details
    • $22 SF/Yr
      20,996 SF

      Grand Forks Restaurant Spaces Available

      Two fully built-out restaurant spaces for lease.
      1970 Columbia Rd, Grand Forks, ND 58201
      View Details
    • $9 SF/Yr
      100,800 SF

      Exchange Warehouse: Grand Forks, ND

      Class-A Industrial Space Available
      4355 36Th 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.
    3051 34th St
    Grand Forks, ND 58201-5903
    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.