Clear-Span Warehouse with Fenced
For Sale
$2,150,000
Pending
309 24th, Watford City, ND 58854
Industrial facility with a stabilized, fenced yard and access near the Highway 85 South truck route.
Property Size16,000 SF
Days on Market31
Property Features for 309 24th
General Information
Standard status
Pending
Size
16,000 SF
Property subtype
Commercial
Site & Location
Highway Access
Yes
Fenced Yard
Yes
Outdoor Storage
Yes
Warehouse & Industrial
Clear Span
Yes
Warehouse Space
13,300 SF
Taxes and HOA fees
Annual Taxes
$5,541
Amenities
2560.00
Building Details
Year Built
2012
Listing Agency:
Basin Brokers Realtors
(701) 572-5560
Listed By:
Tate Cymbaluk
Source:
Clearwaterproperties
Added: Aug 1
Changed: Aug 31
Last Checked: Aug 30 at 2:12PM
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 Basin Brokers Realtors
Investment Insights
Based on property information with market context.
This 16,000-square-foot warehouse, constructed in 2012, includes approximately 13,300 square feet of open shop space. The clear-span layout provides an unobstructed interior suited to industrial operations requiring adaptable workspace. Outdoor improvements include a stabilized, fenced yard for equipment storage, logistics activity, or future expansion.
The property is located at 309 24th in Watford City, near Highway 85 South and just off the truck route. Its combination of open shop area, outdoor storage, and truck-oriented access supports a range of warehouse and industrial functions.
The property is located at 309 24th in Watford City, near Highway 85 South and just off the truck route. Its combination of open shop area, outdoor storage, and truck-oriented access supports a range of warehouse and industrial functions.
Key Highlights
- 16,000‑square‑foot warehouse constructed in 2012
- Approximately 13,300 square feet of open shop space
- Clear‑span interior layout
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
$79,248
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
3.69%
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%
$1,584,960
$1.6M
Cap Rate 7%
$1,132,114
$1.1M
Cap Rate 9%
$880,533
$880.5K
Market Conditions
NOI Build-Up for 16,000 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
$192.0K $12.00/SF
− Vacancy
−$70.1K −$4.38/SF
EGI
$121.9K $7.62/SF
− OpEx
−$42.7K −$2.67/SF
NOI
$79.2K $4.95/SF
Area
McKenzie County, ND
Vacancy
36.50%
Lease Rate
$12.00 /SF/Yr
Expense Ratio
35.00%
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%
$1,584,960
Cap Rate 7%
$1,132,114
Cap Rate 9%
$880,533
Alternative Uses
Best Use
Flex RnD
$1.13M
$990.6K – $1.32M
NOI $79,248 @ 7.0% cap · market cap 3.69%
Second Best
Warehouse
$1.07M
$933.8K – $1.25M
NOI $74,705 @ 7.0% cap · market cap 3.47%
Theoretical Best
Office A
$3.80M
$3.33M – $4.44M
NOI $266,342 @ 7.0% cap · market cap 12.39%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Yes
Fenced yard
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
30
Businesses Nearby
Well-served
Demand for This Use
Explore this area
Business Placement
Demographics for 58854, ND
9,142
Population
4,941
Households
1.9
Avg Household Size
31
Median Age
24%
College-Educated
93%
High-School Grad
666.1 sq mi
ZIP Area
14
Density / Sq Mi
$88,234
Median Household Income
$61,278
Median Earnings
$1,212
Median Rent
$387,700
Median Home Value
Market
Vacancy Rate% for Industrial in Midwest region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Similar Off Market Nearby
- Storage 85 — 209 24th Ave SW, Watford City, ND 58854
Frequently Asked Questions
What type of property is this?
Warehouse - Industrial facility with a stabilized, fenced yard and access near the Highway 85 South truck route.
Where is this warehouse located?
The property is located at 309 24th Watford City, ND.
What is the asking price?
The asking price for this property is $2,150,000.
What are key features of this property?
This property features: 16,000‑square‑foot warehouse constructed in 2012; Approximately 13,300 square feet of open shop space; Clear‑span interior layout
