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    Family Dollar/Dollar Tree Investment Title is generated by Realmo AI

    415 6th St NE ND, Kenmare, ND 58746

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    For Sale
    $1,680,000

    A new 10 year net leased Family Dollar in Kenmare, ND

    Property size:
    10,500 SF
    Price / SF:
    $160/SF
    Added:
    Jan 27, 2025
    Days on Market:
    480
    Last Refresh:
    Mar 16 at 9:06 am

    Property Features for 415 6th St NE ND

    General Information

    Standard status
    Active
    Property type
    Other retail properties, Individual retail properties, Other investment properties, Retail properties & Spaces, Investment properties
    Size
    10,500 SF
    Elevators
    N/A
    Investment Type
    Net Lease

    Building Details

    Buildings
    1
    Stories
    1
    Units
    1

    We can help!

    Listing Contact
    Kase Abusharkh

    Listing agent Kase

    Listing office

    Listing date Jan 27, 2025

    HighLights

    • New 10 Year Net Leased Family Dollar
    • Brand New Hybrid Store Concept
    • Minimal Landlord Obligations
    • Corporate Guarantee
    • New Construction
    • Well Positioned along 6th St
    • Nearby access to Highway 52

    Overview

    This property features a newly constructed, 10,500 square foot Family Dollar and Dollar Tree combination store. The property is located on 6th Street NE, with convenient access to Highway 52. The property benefits from a new 10-year net lease, minimizing landlord obligations. The location in Kenmare, North Dakota, established in 1897, places it within a community of approximately 900 residents. Kenmare's position on the Central North American Trade Corridor, with proximity to a major customs port in Portal (40 miles) and an international airport in Minot (50 miles), adds to its advantageous location. The lease includes a corporate guarantee.

    Financial Insights

    Value Estimation Calculated for Retail

    Conservative
    $959.4K
    NOI $86,348 @ 9.00% cap · cautious / downside scenario
    Moderate
    $1.23M
    NOI $86,348 @ 7.00% cap · market / base-case scenario
    Aggressive
    $1.73M
    NOI $86,348 @ 5.00% cap · optimistic / upside scenario

    NOI & Cap Rate Calculator

    NOI Build-Up
    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.
         Calculated for Retail

    Component $ $/SF
    Gross rent $126.0k $12.00
    − Vacancy −$2.6k −$0.25
    EGI $123.4k $11.75
    − OpEx −$37.0k −$3.52
    NOI $86.3k $8.22
    10,500 SF · lease $12.00/SF/yr · vacancy 2.10% · expense 30.00%

    Alternative Use Scenarios

    Best Use
    Retail
    $1.23M
    $1.08M – $1.44M (±1% cap)
    NOI $86,348 @ 7.0% cap · market cap 5.14%
    Second Best
    —
    —
    no second resolved use
    Theoretical Best
    Office A
    $1.41M
    $1.23M – $1.64M (±1% cap)
    NOI $98,683 @ 7.0% cap · market cap 5.87%
    Zoning and permitted uses should be independently verified with local authorities.
    Property Profile Location Intelligence

    Current Use by Public Records

    Retail properties & Spaces

    Suggested Use

    Restaurant Real Estate Agency Law Firm Spa & Massage Center Dental Office Building Supply Big Box & Wholesale Store Auto Repair Shop Hair Salon Pharmacy

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Kenmare
    County
    Ward
    State
    North Dakota
    Longitude
    -102.034
    Latitude
    48.6651

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      Net Leased Family Dollar Store

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    • $1,680,000
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      Family Dollar - Dollar Tree Combo Store

      New 10-year net lease Family Dollar/Dollar Tree in Kenmare, ND.
      415 6th St NE | , ND, Kenmare, ND 58746
      View Details

    FAQs

    What type of property is this?
    Other retail property - A new 10 year net leased Family Dollar in Kenmare, ND
    Where is this other retail property located?
    The property is located at 415 6th St NE ND Kenmare, ND.
    What is the asking price?
    The asking price for this property is $1,680,000.
    What are key features of this property?
    This property features: New 10 Year Net Leased Family Dollar; Brand New Hybrid Store Concept; Minimal Landlord Obligations
    (925) 348-1844
    We can help!
    Listing Contact
    Kase Abusharkh
    Request Owner's contact information
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    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
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    415 6th St NE | , ND, Kenmare, ND 58746
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