Building Details

Year Built 2023

Buildings 1

Listing Agency: Dakota Commercial

Listed By: Chelsie Kuhn · License #ND 9179 Show Phone

Source: Crexi

Added: May 1 Changed: Oct 1 Last Checked: Oct 5 at 7:32PM

Report an Issue

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 Dakota Commercial

Investment Insights

Based on property information with market context.

This 9,100-square-foot retail building offers an open interior arrangement and 13'6'' ceiling height. The property is described as almost-new and was formerly occupied by Dollar General, providing a large-format commercial layout for continued retail use.

Situated at 1243 Broadway St in Thompson, North Dakota, the building fronts a highway serving nearby small towns. Its open configuration and substantial ceiling clearance create a straightforward platform for a range of retail operations.

Key Highlights

• 9,100 SF retail building
• 13'6'' ceiling height
• Open floor plan supports flexible retail layouts

Financial Insights

Estimated NOI and Cap Rate

NOI / Yr

$68,796

Cap Rate

6.26%

Suggested Prices Based on Cap Rates

Cap Rate 5%

$1,375,920 $1.4M

Cap Rate 7%

$982,800 $982.8K

Cap Rate 9%

$764,400 $764.4K

Market Conditions

NOI Build-Up for 9,100 SF

Gross rent

$109.2K $12.00/SF

− Vacancy

−$10.9K −$1.20/SF

EGI

$98.3K $10.80/SF

− OpEx

−$29.5K −$3.24/SF

NOI

$68.8K $7.56/SF

Area

Grand Forks County, ND

Vacancy

10.00%

Lease Rate

$12.00 /SF/Yr

Expense Ratio

30.00%

Simulate Cap Rate and NOI

Suggested Prices Based on Cap Rates

Cap Rate 5%

$1,375,920

Cap Rate 7%

$982,800

Cap Rate 9%

$764,400

Alternative Uses

Best Use

Retail

$982.8K

$860.0K – $1.15M (±1% cap)

NOI $68,796 @ 7.0% cap · market cap 6.26%

Second Best

—

—

no second resolved use

Theoretical Best

Office A

$1.68M

$1.47M – $1.97M (±1% cap)

NOI $117,936 @ 7.0% cap · market cap 10.73%

Zoning and permitted uses should be independently verified with authorities.

Property Analytics

Current Use

Dollar General Discount Store

Suggested Use

Top Pick Dental Office Auto Repair Shop Garden Center Storage Facility Grocery & Convenience Store Food Market

Score = modeled unmet demand for each use within ~1 mi (higher = bigger opportunity). Zoning and permitted uses should be independently verified with local authorities.

Location Intelligence

Trade Area within ½ mile

41

Businesses Nearby

Explore this area Business Placement

Demographics for 58278, ND

2,132

Population

855

Households

2.5

Avg Household Size

38

Median Age

37%

College-Educated

99%

High-School Grad

105.4 sq mi

ZIP Area

20

Density / Sq Mi

$103,571

Median Household Income

$54,923

Median Earnings

$719

Median Rent

$314,400

Median Home Value

Market

Vacancy Rate% for Retail in Midwest region

8% 2020

7.3% 2021

6.5% 2022

6% 2023

5.7% 2024

6.3% 2025

Questions? Ask Rey

Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.

What type of property is this? Where is this retail space located? What is the asking price? Find similar properties What are key features of this property?

Frequently Asked Questions

What type of property is this?

Retail space - Almost-new commercial building with a flexible open layout and elevated ceiling clearance for retail operations.

Where is this retail space located?

The property is located at 1243 Broadway Street Thompson, ND.

What is the asking price?

The asking price for this property is $1,099,000.

What are key features of this property?

This property features: 9,100 SF retail building; 13'6'' ceiling height; Open floor plan supports flexible retail layouts