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

    402 Demers Ave Grand Forks, ND 58201-4573

    • Office buildings
    • 20,750 SF
    OFF-MARKET
    Value Estimations
    Cap Rate Potential
    Location Intelligence
    Property ID
    US56-0672033
    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

    • Lotus Yoga / Yoga Studio / Gym
    • 322 Hospitality Group / Business Development Service
    • U.S. Social Security Administration / Social Security Office
    • Jalen Nicole Floral / Florist

    Property Details for 402 Demers Ave

    Year built
    1998
    Property size
    20,750 SF
    Property type
    Office buildings
    APN
    44999100014003
    APU
    44999100014003

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

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

    Location Insight

    • Map
    • Local Demand
    City
    Grand Forks
    County
    Grand Forks
    State
    North Dakota
    Longitude
    -97.0321
    Latitude
    47.9245
    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
    $0.00
    $0.00
    $0.00
    $0.00
    -
    $0.00
    $0.00
    $0.00

    Comparable in this City

    • Value Estimation by Request
      3.31 Acres

      1501 28th S Ave

      OFFICE BUILDING • 3.31 Acres
      1501 28th S Ave, Grand Forks, ND 58201-6727
      View Details
    • Value Estimation by Request
      10,934 SF

      2660 Columbia Rd

      OFFICE BUILDING • 10,934 SF
      2660 Columbia Rd, Grand Forks, ND 58201-6001
      View Details
    • Value Estimation by Request
      6,177 SF

      2016 Washington St

      OFFICE BUILDING • 6,177 SF
      2016 Washington St, Grand Forks, ND 58201-6342
      View Details
    • Value Estimation by Request
      2.50 Acres

      2318 Washington St

      OFFICE BUILDING • 2.50 Acres
      2318 Washington St, Grand Forks, ND 58201-6348
      View Details
    • Value Estimation by Request
      27,425 SF

      3880 Columbia Rd

      OFFICE BUILDING • 27,425 SF
      3880 Columbia Rd, Grand Forks, ND 58201-3523
      View Details
    • Value Estimation by Request
      5.14 Acres

      1550 47th S Ave

      OFFICE BUILDING • 5.14 Acres
      1550 47th S Ave, Grand Forks, ND 58201-3403
      View Details

    Similar Nearby for Sale

    • $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
    • $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
    • $469,000
      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
    • Contact for pricing
      3,925 SF

      Apex Tower: Grand Forks Office Space

      Downtown Grand Forks Office, 3925 SF
      600 Demers Ave, 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

    • $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
    • $16 SF/Yr
      2,640 SF

      South Grand Forks Office Space

      Office space in South Grand Forks near I-29.
      4575 32Nd Ave S, 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
    • $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
    • $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
    • $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
    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.
    402 Demers Ave
    Grand Forks, ND 58201-4573
    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.