2397 Demers AveGrand Forks, ND 58201

For Sale
$899,000

Grand Forks Retail Center - 7.2% Cap Rate

Overview

Added:
Dec 11, 2024
Days on market:
96
This exceptional 8,000 square foot shopping center, located at 2397 Demers Avenue in Grand Forks, North Dakota, presents a compelling investment opportunity. Built in 1991, this multi-tenant property boasts four established businesses, demonstrating a strong history of occupancy and a diverse tenant mix. The property sits on a 0.84-acre lot (APN 44330700007001) in a high-traffic area, ensuring excellent visibility and accessibility. The asking price is $899,000, representing a price per square foot of $112.38 and a 7.20% capitalization rate, based on a Net Operating Income (NOI) of $64,717. Recent capital improvements have been made by the owners, enhancing the property's value and appeal. This retail center offers a stable income stream and significant potential for future growth, making it an ideal addition to any investment portfolio. The property is situated in Grand Forks County, North Dakota, zip code 58201. This is a prime opportunity to acquire a well-maintained, income-producing retail property in a desirable location. The property's strong tenant occupancy and history of successful operation make it a low-risk, high-reward investment.

Highlights

  • 8,000 SF shopping center in Grand Forks, ND.
  • Multi-tenant property with four established businesses.
  • Located on a 0.84-acre lot (APN 44330700007001) in a high-traffic area.
  • Asking price: $899,000 ($112.38/SF, 7.20% cap rate, $64,717 NOI).
  • Recent capital improvements.

Property Details for 2397 Demers Ave

Property type
Lifestyle centers, Power centers
Square Feet
8,000 SF
Year Built
1991
Lot Size (sq. ft)
36,590 SF

Location Insight

City
Grand Forks
County
Grand Forks
State
North Dakota
Latitude
47.9156594
Longitude
-97.0605579
2397 Demers Ave, Grand Forks, North Dakota

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2397 Demers Ave
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