13 2nd Ave SE, Minot, ND 58701
Renovated mixed-use property with a leased medical spa and eight apartment units, offering flexibility for future residential completion.
- Added:
- May 28, 2026
- Days on Market:
- 12
- Last Refresh:
- Jun 6 at 3:55 am
Property Features for 13 2nd Ave SE
General Information
- Standard status
- Active
- Size
- 6,726 SF
- Property subtype
- Special Purpose
Building Details
- Year Built
- 1916
Listing agent Ashleigh Collins License #ND
Listing office CENTURY 21 Morrison Realty
Listing date May 28, 2026
Source Crexi
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HighLights
- Mixed‑use commercial property built in 1916 with eight apartment units and a main‑floor commercial space
- Main‑floor commercial space leased to a medical spa on a four‑year lease (business not for sale)
- Upper level has 8 apartments: 4 fully renovated and occupied, and 4 under renovation with updated electrical and plumbing
- All eight apartment units have new mini‑split air conditioning systems; commercial space has central air and the property has hot water heat
- Additional property updates include updated electrical, updated plumbing to the city connection, repaired roofing, and individual apartment meters
- Full unfinished basement plus a coin‑operated laundry area for extra storage and utility
Overview
The building is positioned in downtown Minot, placing occupants within walking distance of local restaurants, entertainment, street festivals, and community events. The commercial space is currently leased to a medical spa under a four-year lease, with the business itself not for sale.
Recent property-wide upgrades include updated electrical, updated plumbing extending to the city connection, repaired roofing, individual apartment meters, and new mini-split air conditioning systems installed in all eight apartment units. The commercial space has central air, and the entire property benefits from efficient hot water heat. With residential units in multiple stages of completion and established commercial tenancy, the property is designed to support both ongoing operations and additional finishing for the remaining residential units.
Local Financial Insights For Apartment 5plus
Simulate Cap Rate and NOI
NOI Build-Up
- 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.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $80.7k | $12.00 |
| − Vacancy | −$6.3k | −$0.94 |
| EGI | $74.4k | $11.06 |
| − OpEx | −$33.5k | −$4.98 |
| NOI | $40.9k | $6.09 |
Alternative Uses
Current Use by Public Records
Location Insight
- Map
- Local Demand
- City
- Minot
- County
- Ward
- State
- North Dakota
- Longitude
- -101.2921366
- Latitude
- 48.234571
