Building Details

Year Built 2015

Listing Agency: Proven Realty, Llc Brokered By Exp Realty Show Phone

Listed By: Erik C. Peterson · License #9328 Show Phone

Source: Search.provenrealtynd

Added: Mar 27 Changed: Oct 8 Last Checked: Oct 16 at 5:38AM

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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

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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 / Yr

$29,346

Cap Rate

2.85%

Suggested Prices Based on Cap Rates

Cap Rate 5%

$586,920 $586.9K

Cap Rate 7%

$419,229 $419.2K

Cap Rate 9%

$326,067 $326.1K

Is this asking price fair?

Market Conditions

NOI Build-Up for 7,632 SF

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 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 (±1% cap)

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 (±1% cap)

NOI $127,045 @ 7.0% cap · market cap 12.33%

Zoning and permitted uses should be independently verified with authorities. How Realmo checks its estimates

Property Analytics

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Current Use

Industrial properties

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

4.4% 2019

4.9% 2020

3.6% 2021

3.1% 2022

4.6% 2023

5% 2024

4.9% 2025

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 Avenue NW Alexander ND 58831 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.**