Main Street Retail
For Sale
Contact for pricing
109 MAIN ST N, Watford City, ND 58854
Street-facing retail showroom space with a main floor and finished basement, currently configured with offices.
Property Size4,813 SF
Price / SF$197.17
Days on Market90
Property Features for 109 MAIN ST N
General Information
Standard status
Active
Size
4,813 SF
Property subtype
Retail, Office
Zoning
Commercial
Building Details
Year Built
1996
Listing Agency:
Paramount Real Estate
Listed By:
Katie Walters · License #ND 9206
Source:
Crexi
Added: Jun 9
Changed: Aug 24
Last Checked: Sep 3 at 1:23AM
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 Paramount Real Estate
Investment Insights
Based on property information with market context.
This for-sale commercial property includes a main floor retail/showroom area plus an additional finished basement level. The interior is currently built out with offices throughout, offering flexibility for a variety of commercial configurations. Frontage windows along Main Street provide prominent street presence and natural light suitable for customer-facing uses.
The building is located on Main Street in Watford City, surrounded by established downtown businesses, including restaurants and bars.
With both main and basement space, the layout can support retail display or showroom use on the front level while utilizing the lower level for storage, inventory, or back-of-house support, subject to the buyer’s intended layout and use.
The building is located on Main Street in Watford City, surrounded by established downtown businesses, including restaurants and bars.
With both main and basement space, the layout can support retail display or showroom use on the front level while utilizing the lower level for storage, inventory, or back-of-house support, subject to the buyer’s intended layout and use.
Key Highlights
- 1996‑built street‑facing commercial building on Main Street in Watford City
- 3,661 SF main floor with large frontage windows along Main Street
- 1,152 SF finished basement for storage, inventory, or back‑of‑house support
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
$57,872
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
6.10%
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%
$1,157,440
$1.2M
Cap Rate 7%
$826,743
$826.7K
Cap Rate 9%
$643,022
$643.0K
Market Conditions
NOI Build-Up for 4,813 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
$96.5K $20.04/SF
− Vacancy
−$19.3K −$4.01/SF
EGI
$77.2K $16.03/SF
− OpEx
−$19.3K −$4.01/SF
NOI
$57.9K $12.02/SF
Area
McKenzie County, ND
Vacancy
20.00%
Lease Rate
$20.04 /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%
$1,157,440
Cap Rate 7%
$826,743
Cap Rate 9%
$643,022
Alternative Uses
Best Use
Office B
$826.7K
$723.4K – $964.5K
NOI $57,872 @ 7.0% cap · market cap 6.10%
Second Best
Retail
$635.3K
$555.9K – $741.2K
NOI $44,472 @ 7.0% cap · market cap 4.69%
Theoretical Best
Office A
$1.14M
$1.00M – $1.34M
NOI $80,119 @ 7.0% cap · market cap 8.44%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
463
Businesses Nearby
Explore this area
Business Placement
Demographics for 58854, ND
9,142
Population
4,941
Households
1.9
Avg Household Size
31
Median Age
24%
College-Educated
93%
High-School Grad
666.1 sq mi
ZIP Area
14
Density / Sq Mi
$88,234
Median Household Income
$61,278
Median Earnings
$1,212
Median Rent
$387,700
Median Home Value
Market
Vacancy Rate% for Office in Midwest region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Retail space - Street-facing retail showroom space with a main floor and finished basement, currently configured with offices.
Where is this retail space located?
The property is located at 109 MAIN ST N Watford City, ND.
What is the asking price?
The asking price for this property is $949,000.
What are key features of this property?
This property features: 1996‑built street‑facing commercial building on Main Street in Watford City; 3,661 SF main floor with large frontage windows along Main Street; 1,152 SF finished basement for storage, inventory, or back‑of‑house support
