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8.65% Cap Rate | Single Tenant Retail 2500 S Columbia Rd 10,620 SF Retail Building Grand Forks, ND 58201 $1,350,000 ($127.12/SF) 8.65% Cap Rate
INVESTMENT HIGHLIGHTS
- Long term tenant since 2008 with a stable and growing business. Future rent escalations make this an attractive opportunity.
EXECUTIVE SUMMARY
Positioned along one of Grand Forks’ busiest retail corridors, this single-tenant retail center is occupied by Plato’s Closet, a leading national resale franchise with over 500 locations and a proven track record of strong sales, high profitability, and long-term stability. The property is surrounded by anchor tenants Ross Dress for Less, PetSmart, and Harbor Freight, offering strong visibility, stable tenancy, and proximity to major national retailers. Located on South Columbia Road near Columbia Mall and surrounded by popular retailers and restaurants, it benefits from excellent daily traffic counts, strong demographics, and convenient access from multiple points.
A new roof was installed in the fall 2025.
Neighboring multi-tenant retail center which shares the same parking lot is available for $1,900,000, priced at an attractive 8.72% cap rate.
A new roof was installed in the fall 2025.
Neighboring multi-tenant retail center which shares the same parking lot is available for $1,900,000, priced at an attractive 8.72% cap rate.
PROPERTY FACTS
Sale Type
Investment NNN
Property Type
Retail
Building Size
10,620 SF
Building Class
C
Year Built/Renovated
1980/2020
Price
$1,350,000
Price Per SF
$127.12
Cap Rate
8.65%
NOI
$116,820
Tenancy
Single
Building Height
1 Story
Building FAR
0.18
Lot Size
1.37 AC
Zoning
Commercial
Parking
50 Spaces (4.71 Spaces per 1,000 SF Leased)
MAJOR TENANTS
- TENANT
- INDUSTRY
- SF OCCUPIED
- RENT/SF
- LEASE TYPE
- LEASE END
- Plato's Closet
- Retailer
- 10,620 SF
- $11.00
- Triple Net
- Nov 2030
| TENANT | INDUSTRY | SF OCCUPIED | RENT/SF | LEASE TYPE | LEASE END | |
| Plato's Closet | Retailer | 10,620 SF | $11.00 | Triple Net | Nov 2030 |
Walk Score®
Very Walkable (77)
Bike Score®
Very Bikeable (78)
NEARBY MAJOR RETAILERS
PROPERTY TAXES
| Parcel Number | 44131800002001 | Improvements Assessment | $0 |
| Land Assessment | $0 | Total Assessment | $268,000 |
PROPERTY TAXES
Parcel Number
44131800002001
Land Assessment
$0
Improvements Assessment
$0
Total Assessment
$268,000
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8.65% Cap Rate | Single Tenant Retail | 2500 S Columbia Rd
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