Convenience Market with Food
404 2nd Ave Sw, Watford City, ND 58854
For Sale
$550,000
Operational market property with dedicated preparation, dining, storage, cooling, and covered exterior space.
Property Size2,662 SF
Lot Size0.41 Acres
Price / SF$206.61
Days on Market56
Property Features for 404 2nd Ave Sw
General Information
Standard status
Size
Lot size
Taxes and HOA fees
Annual Taxes
Building Details
Buildings
Listing Agency:
Proven Realty, LLC brokered by eXp Realty
Listed By:
Erik C. Peterson · License ND #9328
(701) 369-3949
Source:
Exprealty
Added: Sep 16
Changed: Nov 5
Last Checked: Nov 8 at 11:02AM
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 Proven Realty, LLC brokered by eXp Realty
Ask AI about this property
Review the available facts, identify missing information and prepare questions for the agent.
Investment Insights
Based on property information with market context.
Located at 404 2nd Avenue SW in Watford City, this 2,662-square-foot commercial property combines a convenience market with food-preparation and dining improvements. The building includes 1,610 square feet dedicated to preparation and dining, an 831-square-foot market area constructed in 2012, and a 221-square-foot storage warehouse with a walk-in cooler. Central HVAC serves the building, and an attached canopy extends the functional footprint.
The property occupies a 17,700-square-foot lot with 3,000 square feet of paved asphalt parking. Its existing configuration supports continued convenience-market and food-service operations, while the combination of retail, preparation, dining, storage, and cooling areas provides a range of practical commercial uses within one facility.
The property occupies a 17,700-square-foot lot with 3,000 square feet of paved asphalt parking. Its existing configuration supports continued convenience-market and food-service operations, while the combination of retail, preparation, dining, storage, and cooling areas provides a range of practical commercial uses within one facility.
Key Highlights
- 2,662‑square‑foot commercial building on a 17,700‑square‑foot lot
- 1,610 square feet of food‑preparation and dining space
- 831‑square‑foot convenience store area built in 2012
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$24,597
Cap Rate
4.47%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$491,940
$491.9K
Cap Rate 7%
$351,386
$351.4K
Cap Rate 9%
$273,300
$273.3K
Market Conditions
NOI Build-Up for 2,662 SF
Gross rent
$39.9K $15.00/SF
− Vacancy
−$4.8K −$1.80/SF
EGI
$35.1K $13.20/SF
− OpEx
−$10.5K −$3.96/SF
NOI
$24.6K $9.24/SF
Area
McKenzie County, ND
Vacancy
12.00%
Lease Rate
$15.00 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$491,940
Cap Rate 7%
$351,386
Cap Rate 9%
$273,300
Alternative Uses
Best Use
Retail
$351.4K
$307.5K – $410.0K
NOI $24,597 @ 7.0% cap · market cap 4.47%
Second Best
Specialty Retail
$229.7K
$201.0K – $267.9K
NOI $16,076 @ 7.0% cap · market cap 2.92%
Theoretical Best
Office A
$633.0K
$553.9K – $738.6K
NOI $44,313 @ 7.0% cap · market cap 8.06%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Who owns this building?
See the owner, sales and loan history
Open Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
412
Businesses Nearby
19k
Monthly Visits Nearby
Well-served
Demand for This Use
Explore this area
Business Placement
Foot Traffic Nearby
Shops & Services 97%
Hotels & Casinos 3%
Kum & Go
Shops & Services
8,795 visits/mo
0.3 miles
Dollar General
Shops & Services
5,246 visits/mo
0.5 miles
Napa Auto Parts
Shops & Services
2,090 visits/mo
0.2 miles
Mobil
Shops & Services
1,754 visits/mo
0.3 miles
Comfort Inn & Suites
Hotels & Casinos
586 visits/mo
0.3 miles
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
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Retail in Midwest region
Similar Off Market Nearby
- Cash Wise Foods Grocery Store Watford City — 113 6th Ave SE Suite 5100, Watford City, ND 58854
- Jack & Jill — 104 3rd Ave NE, Watford City, ND 58854
Frequently Asked Questions
What type of property is this?
Grocery and convenience store - Operational market property with dedicated preparation, dining, storage, cooling, and covered exterior space.
Where is this grocery and convenience store located?
The property is located at 404 2nd Ave Sw Watford City, ND.
What is the asking price?
The asking price for this property is $550,000.
What are key features of this property?
This property features: 2,662‑square‑foot commercial building on a 17,700‑square‑foot lot; 1,610 square feet of food‑preparation and dining space; 831‑square‑foot convenience store area built in 2012
