Freestanding Restaurant/Bar Building For
For Sale
Contact for pricing
100 28 Ave SW, Minot, ND
Freestanding restaurant/bar with commercial kitchen and ample parking.
Property Size8,320 SF
Lot Size1.09 Acres
Price / SF$192.31
Days on Market1308
Property Features for 100 28 Ave SW
General Information
Standard status
Active
Size
8,320 SF
Lot size
1.09 Acres
Property subtype
RETAIL
Listing Agency:
Aspen Group
(701) 223-2450
Listed By:
Mathew Reichert
(701) 391-0561
Source:
Moodyscre
Added: Feb 3, 2023
Changed: Aug 15
Last Checked: Sep 1 at 9:17PM
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 Aspen Group
Investment Insights
Based on property information with market context.
This is a freestanding full-service restaurant and bar building. It features a commercial kitchen and bar infrastructure, including a large grill, prep areas, and dish room. The property includes a spacious carpeted seating area. There is abundant parking available, with approximately 78 spaces, including 4 handicapped spaces. The building benefits from excellent visibility on Broadway and Highway 83, a main north-south thoroughfare through Minot. The property size is 8,320 square feet.
Key Highlights
- Freestanding full‑service restaurant/bar building
- Commercial kitchen / bar infrastructure in place
- Excellent visibility from Broadway / Hwy 83**
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
$68,420
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
4.28%
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%
$1,368,400
$1.4M
Cap Rate 7%
$977,429
$977.4K
Cap Rate 9%
$760,222
$760.2K
Market Conditions
NOI Build-Up for 8,320 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
$99.8K $12.00/SF
− Vacancy
−$2.1K −$0.25/SF
EGI
$97.7K $11.75/SF
− OpEx
−$29.3K −$3.52/SF
NOI
$68.4K $8.22/SF
Area
Ward County, ND
Vacancy
2.10%
Lease Rate
$12.00 /SF/Yr
Expense Ratio
30.00%
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%
$1,368,400
Cap Rate 7%
$977,429
Cap Rate 9%
$760,222
Alternative Uses
Best Use
Retail
$977.4K
$855.3K – $1.14M
NOI $68,420 @ 7.0% cap · market cap 4.28%
Second Best
Specialty Retail
$650.8K
$569.5K – $759.3K
NOI $45,557 @ 7.0% cap · market cap 2.85%
Theoretical Best
Office A
$1.12M
$977.4K – $1.30M
NOI $78,195 @ 7.0% cap · market cap 4.89%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
643
Businesses Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Market
Vacancy Rate% for Retail in Midwest region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Restaurant - Freestanding restaurant/bar with commercial kitchen and ample parking.
Where is this restaurant located?
The property is located at 100 28 Ave SW Minot, ND.
What is the asking price?
The asking price for this property is $1,600,000.
What are key features of this property?
This property features: Freestanding full‑service restaurant/bar building; Commercial kitchen / bar infrastructure in place; Excellent visibility from Broadway / Hwy 83**
