Elk Ridge Industrial
For Sale
Contact for pricing
4127 144th Ave NW, Alexander, ND 58831
7,632 SF industrial building with long-term tenant in place.
Property Size7,632 SF
Lot Size3.60 Acres
Price / SF$134.96
Days on Market173
Property Features for 4127 144th Ave NW
General Information
Standard status
Active
Size
7,632 SF
Lot size
3.60 Acres
Property subtype
Industrial
Building Details
Year Built
2015
Listing Agency:
Proven Realty LLC
(701) 369-3949
Listed By:
Erik Peterson · License #ND 9328
Source:
Crexi
Added: Feb 20
Changed: Aug 9
Last Checked: Aug 11 at 2:07PM
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
Investment Insights
Based on property information with market context.
This 7,632 square foot industrial building is situated on 3.6 acres in Elk Ridge Industrial Park. The property features a 5,040 square foot shop area with five drive-in bays, each equipped with 14'x14' overhead doors. The shop has an 18-foot ceiling height, reinforced concrete floors, a sprinkler system, and an overhead unit heater. There is 1,296 square feet of office space, which includes four private offices and a conference room. Additionally, the property includes 1,296 square feet of second-floor living quarters, complete with full HVAC, a bathroom, and a kitchenette. The property utilizes a septic system and rural water. Located in Elk Ridge Industrial Park in Alexander, North Dakota, the property is situated minutes south of Williston and Highway 85 in McKenzie County. The property is currently leased to a long-term tenant who pays $7,725.00 per month through August 28, 2026, with an option to renew through 2028.
Key Highlights
- Long‑term tenant provides $7,725 monthly income through 8/28/2026, with renewal option through 2028.
- Substantial 7,632 SQ FT high‑quality building on 3.6 acres in Elk Ridge Industrial Park.
- Large 5,040 SQ FT shop featuring 5 drive‑in bays, 14'x14' overhead doors, 18 FT ceiling, reinforced concrete floors, sprinkler system, and overhead unit heater.**
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
$29,346
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
2.85%
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%
$586,920
$586.9K
Cap Rate 7%
$419,229
$419.2K
Cap Rate 9%
$326,067
$326.1K
Market Conditions
NOI Build-Up for 7,632 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
$45.8K $6.00/SF
− Vacancy
−$3.9K −$0.51/SF
EGI
$41.9K $5.49/SF
− OpEx
−$12.6K −$1.65/SF
NOI
$29.3K $3.85/SF
Area
McKenzie County, ND
Vacancy
8.45%
Lease Rate
$6.00 /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%
$586,920
Cap Rate 7%
$419,229
Cap Rate 9%
$326,067
Alternative Uses
Best Use
Industrial
$419.2K
$366.8K – $489.1K
NOI $29,346 @ 7.0% cap · market cap 2.85%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.81M
$1.59M – $2.12M
NOI $127,045 @ 7.0% cap · market cap 12.33%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
1
Businesses Nearby
Explore this area
Business Placement
Demographics for 58831, ND
1,122
Population
532
Households
2.1
Avg Household Size
35
Median Age
14%
College-Educated
92%
High-School Grad
416.0 sq mi
ZIP Area
3
Density / Sq Mi
$133,750
Median Household Income
$48,636
Median Earnings
$1,396
Median Rent
$384,100
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.
Frequently Asked Questions
What type of property is this?
Industrial property - 7,632 SF industrial building with long-term tenant in place.
Where is this industrial property located?
The property is located at 4127 144th Ave NW Alexander, ND.
What is the asking price?
The asking price for this property is $1,030,000.
What are key features of this property?
This property features: Long‑term tenant provides $7,725 monthly income through 8/28/2026, with renewal option through 2028.; Substantial 7,632 SQ FT high‑quality building on 3.6 acres in Elk Ridge Industrial Park.; Large 5,040 SQ FT shop featuring 5 drive‑in bays, 14'x14' overhead doors, 18 FT ceiling, reinforced concrete floors, sprinkler system, and overhead unit heater.**
