4770 Technology CirGrand Forks, ND 58203

Property Details for 4770 Technology Cir

Year built

1998

Lot size

3.50 AC

Property size (Sq ft)

13,143 SF

Property type

Commercial real estate

APN

44311100005002

APU

44311100005002

Description

This exceptional 13,165-square-foot medical office building in Grand Forks, North Dakota, presents a compelling investment opportunity. Located at 4770 Technology Cir, 58203, this single-story, Class B building sits on a 3.5-acre lot and boasts 100% occupancy with a stabilized NOI of $297,533, yielding a 7.00% cap rate. The property features a strong lease history, with the current tenant occupying the space since 2001, under an absolute NNN lease. The lease includes one (1) five (5) year renewal option, with annual rent increases of 4% during the renewal period. Annual rent is projected to increase steadily, reaching $348,071.45 by the end of the first renewal option period (March 31, 2033). The building underwent renovations in 1998 and 2011. The property is zoned I2, Heavy Industrial, providing flexibility for future uses. The asking price is $4,250,000, representing a price per square foot of $322.83. This is a rare opportunity to acquire a high-performing medical office building in a desirable location with significant long-term growth potential. The current lease expires December 21, 2028. Detailed financial statements are available upon request.

• Alternative Use

  Use

  Valuation

  Residential

  $2,765,858

  Hospitality

  $2,533,512

  Educational

  $2,107,852

  Medical

  $2,180,344

  Retail

  $3,278,881

Location Insight

City

Grand Forks

County

Grand Forks

State

North Dakota

Latitude

47.9196

Longitude

-97.0985

CBSA code

24220

CBSA name

GRAND FORKS, ND-MN METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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