Former Distillery with Redevelopment
For Sale
Contact for pricing
341 SW 5th St, Dickinson, ND 58601
Unique property in San Leon subdivision, Dickinson, awaiting creative vision.
Property Size5,600 SF
Price / SF$102.52
Days on Market148
Property Features for 341 SW 5th St
General Information
Standard status
Active
Size
5,600 SF
Property subtype
Mixed Use
Listing Agency:
Platinum Properties
Listed By:
Jennifer Hurst · License #450471
Source:
Crexi
Added: Mar 17
Changed: Aug 8
Last Checked: Aug 11 at 3:11PM
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 Platinum Properties
Investment Insights
Based on property information with market context.
Located in the San Leon subdivision of Dickinson, this property at 341 5th Street presents a unique opportunity. Formerly a distillery, the property includes two buildings offering redevelopment potential. The 60 X 60 building is equipped with two 5-ton A/C units and bathrooms. The second building, measuring 40 X 50, features a bathroom and a small office space. A 20 X 40 covered patio and deck enhance the property. This versatile space is suitable for various uses, including residential, commercial, an indoor sports facility, a storefront, or a mixed-use development. The property offers 5600 square feet of space, presenting an opportunity to embrace its industrial past and craft an exciting future.
Key Highlights
- Unique former distillery converted into a versatile property.
- Two spacious buildings: 60 X 60 building with two 5‑ton A/C units and bathrooms, and a 40 X 50 building with a bathroom and office.
- Located in the desirable San Leon subdivision of Dickinson.
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
$32,768
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
5.71%
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%
$655,360
$655.4K
Cap Rate 7%
$468,114
$468.1K
Cap Rate 9%
$364,089
$364.1K
Market Conditions
NOI Build-Up for 5,600 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
$55.8K $9.96/SF
− Vacancy
−$3.3K −$0.60/SF
EGI
$52.4K $9.36/SF
− OpEx
−$19.7K −$3.51/SF
NOI
$32.8K $5.85/SF
Area
Stark County, ND
Vacancy
6.00%
Lease Rate
$9.96 /SF/Yr
Expense Ratio
37.50%
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%
$655,360
Cap Rate 7%
$468,114
Cap Rate 9%
$364,089
Alternative Uses
Best Use
Mixed Use
$468.1K
$409.6K – $546.1K
NOI $32,768 @ 7.0% cap · market cap 5.71%
Second Best
—
—
no second resolved use
Theoretical Best
Multifamily LT 5
$4.44M
$3.89M – $5.18M
NOI $310,896 @ 7.0% cap · market cap 54.15%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
123
Businesses Nearby
Explore this area
Business Placement
Demographics for 58601, ND
29,697
Population
13,619
Households
2.2
Avg Household Size
34
Median Age
28%
College-Educated
91%
High-School Grad
570.6 sq mi
ZIP Area
52
Density / Sq Mi
$81,008
Median Household Income
$49,085
Median Earnings
$968
Median Rent
$269,200
Median Home Value
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Mixed-use property - Unique property in San Leon subdivision, Dickinson, awaiting creative vision.
Where is this mixed-use property located?
The property is located at 341 SW 5th St Dickinson, ND.
What is the asking price?
The asking price for this property is $574,100.
What are key features of this property?
This property features: Unique former distillery converted into a versatile property.; Two spacious buildings: 60 X 60 building with two 5‑ton A/C units and bathrooms, and a 40 X 50 building with a bathroom and office.; Located in the desirable San Leon subdivision of Dickinson.
