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    Prime Commercial Land Parcel Title is generated by Realmo AI

    L4 B4 3rd Street SE Watford City ND, Watford City, ND 58854

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    High-visibility commercial land parcel adjacent to the bustling main street.

    Type:Land
    Added:
    Sep 11, 2024
    Days on Market:
    609
    Last Refresh:
    Mar 16 at 1:04 pm

    Property Features for L4 B4 3rd Street SE Watford City ND

    General Information

    Standard status
    Active
    Property subtype
    Land

    We can help!

    Listing Contact
    Blair Chiodo

    Listing agent Blair Chiodo License #ND 10820

    Listing office Exp Realty

    Listing date Sep 11, 2024

    Source Crexi

    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

    HighLights

    • High Traffic Visibility: Prime location directly off the main street ensures maximum exposure.
    • Proximity to Major Income Generators: Surrounded by established businesses attracting high foot traffic.
    • Build‑Ready with City Utilities: Simplifies development and allows for a swift build‑out.
    • Easy Access: Convenient ingress and egress for customers and staff.
    • Expandable Options: Nearby lots totaling 9.5+ acres are also available for sale.
    • Exceptional Investment Opportunity: High‑visibility commercial land parcel with significant growth potential.

    Overview

    This high-visibility commercial land parcel presents an exceptional investment opportunity. Strategically situated adjacent to the bustling main street, the location offers unparalleled exposure and accessibility, making it an ideal site for a variety of business ventures. The parcel benefits from constant traffic flow and prominent visibility, ensuring maximum exposure. The land is surrounded by well-established businesses and amenities, including the Holiday Gas Station, Cashwise Grocery Store, Home of Economy, and the Teddy Roosevelt Hotel. This vibrant area attracts high foot traffic and offers a steady stream of potential customers. The parcel is equipped with city utilities, simplifying the development process and allowing for a swift build-out. Enjoy convenient ingress and egress to the property, facilitating smooth operations and ease of access for both customers and staff. Nearby lots totaling 9.5+ acres are also available for sale, offering flexibility and potential for future expansion. Parcels 82-72-01000, 82-72-01600, 82-72-01700,82-72-01800 are also listed for sale. The property is located in Watford City, ND 58854.
    Location Intelligence

    Current Use by Public Records

    Commercial land

    Suggested Use

    Real Estate Agency Restaurant Law Firm Dental Office Building Supply Spa & Massage Center Hair Salon Big Box & Wholesale Store Auto Repair Shop Gym & Fitness Center

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Watford City
    County
    McKenzie
    State
    North Dakota
    Longitude
    -103.2860096
    Latitude
    47.8046887

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    FAQs

    What type of property is this?
    Commercial land - High-visibility commercial land parcel adjacent to the bustling main street.
    Where is this commercial land located?
    The property is located at L4 B4 3rd Street SE Watford City ND Watford City, ND.
    What is the asking price?
    The asking price for this property is $353,925.
    What are key features of this property?
    This property features: High Traffic Visibility: Prime location directly off the main street ensures maximum exposure.; Proximity to Major Income Generators: Surrounded by established businesses attracting high foot traffic.; Build‑Ready with City Utilities: Simplifies development and allows for a swift build‑out.
    We can help!
    Contact for Pricing
    Please call us for current price
    and status of this listing
    Blair Chiodo
    Real Estate License ID: ND 10820
    Learn More
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    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
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    L4 B4 3rd Street SE, Watford City, ND, Watford City, ND 58854
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