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    Property profile & analytics
    FOR LEASE
    Retail space

    421 Gateway Dr NE, East Grand Forks, MN 56721

    41,658 SF 3.64 ac lot Built 1989
    Entity Owned Absentee Owner Free & Clear
    Property ID
    US46-2240022
    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
    Implied cap rate, NOI & suggested price
    Cap vs submarket · NOI estimate · 3 price anchors
    Current use
    Occupant on record · Public records
    • Itts Williams Park City Park
    • higi Physician
    • St. Michel Furniture Furniture & Home Goods Home Decor Store
    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
    ST MICHEL RENTAL LLC
    ST MICHEL RENTAL LLC
    Zoning & alternative use
    Permitted uses
    Permitted uses
    Allowed · conditional · prohibited
    Top alternative use upside
    Restaurant $3.2M +23.7%
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    “Is 15.6% cap rate sustainable?” · “Best tenant mix for BU1?” · “What’s the redev upside?”
    More about this property
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