Building Details

Year Built 1948

Year Renovated 1964

Buildings 1

Tenancy Single

Construction brick

Listing Agency: Poelstra Properties

Listed By: Renee Poelstra · License #CA 01489350

Source: Crexi

Added: May 7 Changed: Sep 1 Last Checked: Sep 2 at 8:31PM

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 Poelstra Properties

Investment Insights

Based on property information with market context.

This brick storefront building contains 1,246 square feet of interior space on a 3,250-square-foot site. The property is occupied by the United States Postal Service and operates as the Main Post Office serving Ryder. A long-term lease is in place with the government agency, providing an established occupancy profile for the asset.

The property is located at 280 N Main St in Ryder, North Dakota, a Ward County community with a stated population of 100. USPS service hours are Monday through Friday from 8am to 12pm and Saturday from 8am to 10am. The nearest full-service post office is identified as being 30 miles away in Turtle Lake.

Key Highlights

• 1,246 square feet of interior space
• 3,250‑square‑foot site
• Occupied by the United States Postal Service

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

$10,247

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

7.53%

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%

$204,940 $204.9K

Cap Rate 7%

$146,386 $146.4K

Cap Rate 9%

$113,856 $113.9K

Market Conditions

NOI Build-Up for 1,246 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

$15.0K $12.00/SF

− Vacancy

−$314 −$0.25/SF

EGI

$14.6K $11.75/SF

− OpEx

−$4.4K −$3.52/SF

NOI

$10.2K $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%

$204,940

Cap Rate 7%

$146,386

Cap Rate 9%

$113,856

Alternative Uses

Best Use

Retail

$146.4K

$128.1K – $170.8K (±1% cap)

NOI $10,247 @ 7.0% cap · market cap 7.53%

Second Best

—

—

no second resolved use

Theoretical Best

Office A

$167.3K

$146.4K – $195.2K (±1% cap)

NOI $11,710 @ 7.0% cap · market cap 8.61%

Zoning and permitted uses should be independently verified with authorities.

Property Analytics

Property Profile

Current Use

United States Postal ... Post Office

Suggested Use

Top Pick (Bike/Boat/Book/etc) Store Big Box & Wholesale Store Auto Repair Shop Auto Parts Store Restaurant

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

20

Businesses Nearby

Well-served

Demand for This Use

Explore this area Business Placement

Demographics for 58779, ND

458

Population

147

Households

3.1

Avg Household Size

41

Median Age

19%

College-Educated

90%

High-School Grad

274.7 sq mi

ZIP Area

2

Density / Sq Mi

$65,000

Median Household Income

$529

Median Rent

$58,200

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 storefront properties located? What is the asking price? Find similar properties ... What are key features of this property?

Ask Rey about this property ...

Frequently Asked Questions

What type of property is this?

Storefront property - Brick commercial building occupied by a United States Postal Service facility under a long-term lease.

Where is this storefront property located?

The property is located at 280 N Main St Ryder, ND.

What is the asking price?

The asking price for this property is $136,000.

What are key features of this property?

This property features: 1,246 square feet of interior space; 3,250‑square‑foot site; Occupied by the United States Postal Service