Property profile

421 Gateway Dr NE East Grand Forks, MN 56721

FOR LEASE
Retail space
Property ID
US46-2240022
41,658 SF 3.64 ac lot Built 1989
Entity Owned Absentee Owner Free & Clear
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Property summary

AI-generated overview

This exceptional 10,919 square foot retail space, located at 421 Gateway Drive NE in East Grand Forks, Minnesota, presents a unique investment opportunity. Situated on the busy Highway 2 corridor, this single-tenant property offers high visibility and accessibility. Built in 1989 and extensively renovated in 2021, the building boasts a total of 41,658 square feet, providing ample space for a variety of retail or flex uses. The property's layout is highly adaptable, allowing for customization to meet the specific needs of a new tenant. The owner is open to collaborating on tenant improvements, contingent upon the terms of the lease agreement. This property is located in Polk County, Minnesota, zip code 56721, and offers a prime location for businesses seeking high traffic exposure in a thriving community. The building's recent renovation ensures modern amenities and functionality, making it an attractive option for businesses seeking a move-in ready space. The flexible layout and potential for tenant improvement collaboration make this a truly unique opportunity in the East Grand Forks market. This property is ideal for businesses seeking a strong presence on a major thoroughfare.

Property profile

Verified
Property type Retail space
Use group RETAIL STORES (PERSONAL SERVICES)
Year built 1989
Total area 41,658 SF
Lot 3.64 ac (158,558 SF)
APN 83.03116.00
UPID US46-2240022

Cap rate & NOI

Priority signal for investors
Implied cap rate, NOI & suggested price
Cap rate vs submarket · NOI estimate · 3 price anchors

Current use

Occupant on record · Public records
  • City Park
  • Physician
  • Furniture & Home Goods Home Decor Store

Location

421 Gateway Dr NE East Grand Forks, MN 56721
East Grand Forks metro Census 20100 GRAND FORKS, ND-MN METROPOLITAN STATISTICAL AREA
Google Maps

Value estimations

Realmo proprietary · 4 methods
AI Approach AI
by Request
CAP Approach CAP
by Request
Comparable Approach Comparable
by Request
Blend (final) Blend
$2.33M

Owner & transaction history

Zoning & alternative use

Top alternative use upside
Restaurant $3.2M +23.7%

Comparables

6 recent transactions · within 1.5 mi
Comparable in this city
6 recent transactions
Recent comparable sales
Sale price & price/SF · Sale date & distance · Adjustments & confidence
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Ask anything about this address in plain English.
“Is 15.6% cap rate sustainable?” · “Best tenant mix for BU1?” · “What’s the redev upside?”
More about this property
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