Historic Bar and Grill
For Sale
Contact for pricing
105-107 Main Street, Arnegard, ND 58835
Updated historic bar and grill with dining room, covered patios, and onsite living quarters above the bar.
Property Size5,664 SF
Price / SF$88.10
Days on Market55
Property Features for 105-107 Main Street
General Information
Standard status
Active
Size
5,664 SF
Property subtype
Retail
Zoning
Commercial
Investment Type
Owner/User
Building Details
Year Built
1900
Listing Agency:
Exp Realty
(406) 480-9383
Listed By:
Kristy Madden · License #ND 9436
Source:
Crexi
Added: Jun 18
Changed: Aug 8
Last Checked: Aug 10 at 7:28AM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of Exp Realty
Investment Insights
Based on property information with market context.
This historic bar and grill features a spacious interior layout designed for dining and guest service, along with refinished bar top surfaces and restored entertainment components. The property includes a large dining room, new tables and chairs throughout, expansive covered patios for outdoor gatherings, and a generous on-site parking area for guests. Above the bar, there are approximately six bedrooms and two bathrooms that can support owner occupancy, employee housing, or other living arrangements. For storage and operational flexibility, there is a custom-built large outbuilding with cooler and freezer space.
The building is currently boarded up to help preserve and protect the structure. The kitchen area experienced a fire; the affected area has been cleaned up, but repairs have not yet been completed. A buyer will have the opportunity to evaluate the remaining work and decide how to finalize the kitchen improvements. Please note that no liquor license is included in the sale, and the buyer is responsible for obtaining any required licenses, permits, approvals, and inspections for future business operations.
For a prospective operator or buyer, this property offers a bar and grill framework with covered patio space, an existing dining layout, and dedicated refrigeration/freezer storage. The above-bar living quarters provide additional flexibility for owners or staff, while the post-fire condition in the kitchen creates a scope for personalization and completion after purchase.
The building is currently boarded up to help preserve and protect the structure. The kitchen area experienced a fire; the affected area has been cleaned up, but repairs have not yet been completed. A buyer will have the opportunity to evaluate the remaining work and decide how to finalize the kitchen improvements. Please note that no liquor license is included in the sale, and the buyer is responsible for obtaining any required licenses, permits, approvals, and inspections for future business operations.
For a prospective operator or buyer, this property offers a bar and grill framework with covered patio space, an existing dining layout, and dedicated refrigeration/freezer storage. The above-bar living quarters provide additional flexibility for owners or staff, while the post-fire condition in the kitchen creates a scope for personalization and completion after purchase.
Key Highlights
- Updated historic bar and grill with a large dining room and extensive upgrades including refinished bar tops and restored pool table
- Expansive covered patios for outdoor gatherings plus a generous onsite parking area for guests
- Living quarters above the bar with approximately 6 bedrooms and 2 bathrooms for owner occupancy or extra income use
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$34,205
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
6.85%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$684,100
$684.1K
Cap Rate 7%
$488,643
$488.6K
Cap Rate 9%
$380,056
$380.1K
Market Conditions
NOI Build-Up for 5,664 SF
Vacancy — income lost from leasable area expected to sit empty during the year, subtracted from gross rent.
EGI (Effective Gross Income) — gross rent minus vacancy losses, the realistic income before paying operating costs.
OpEx (Operating Expenses) — recurring costs to operate the property (property tax, insurance, utilities, maintenance, management); excludes financing and capital improvements.
NOI (Net Operating Income) — income a property generates after operating costs but before financing and taxes.
Gross rent
$74.8K $13.20/SF
− Vacancy
−$29.2K −$5.15/SF
EGI
$45.6K $8.05/SF
− OpEx
−$11.4K −$2.01/SF
NOI
$34.2K $6.04/SF
Area
McKenzie County, ND
Vacancy
39.00%
Lease Rate
$13.20 /SF/Yr
Expense Ratio
25.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$684,100
Cap Rate 7%
$488,643
Cap Rate 9%
$380,056
Alternative Uses
Best Use
Specialty Retail
$488.6K
$427.6K – $570.1K
NOI $34,205 @ 7.0% cap · market cap 6.85%
Second Best
Industrial
$311.1K
$272.2K – $363.0K
NOI $21,779 @ 7.0% cap · market cap 4.36%
Theoretical Best
Office A
$1.35M
$1.18M – $1.57M
NOI $94,285 @ 7.0% cap · market cap 18.89%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
26
Businesses Nearby
Explore this area
Business Placement
Demographics for 58835, ND
1,050
Population
556
Households
1.9
Avg Household Size
29
Median Age
38%
College-Educated
97%
High-School Grad
241.0 sq mi
ZIP Area
4
Density / Sq Mi
$134,595
Median Household Income
$71,604
Median Earnings
$423,600
Median Home Value
Market
Vacancy Rate% for Retail in Midwest region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Bar & Pub - Updated historic bar and grill with dining room, covered patios, and onsite living quarters above the bar.
Where is this bar & pub located?
The property is located at 105-107 Main Street Arnegard, ND.
What is the asking price?
The asking price for this property is $499,000.
What are key features of this property?
This property features: Updated historic bar and grill with a large dining room and extensive upgrades including refinished bar tops and restored pool table; Expansive covered patios for outdoor gatherings plus a generous onsite parking area for guests; Living quarters above the bar with approximately 6 bedrooms and 2 bathrooms for owner occupancy or extra income use
