Family Dollar/Dollar Tree
For Sale
$1,680,000
415 6th St NE ND, Kenmare, ND 58746
A new 10 year net leased Family Dollar in Kenmare, ND
Property Size10,500 SF
Price / SF$160
Days on Market571
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
Listing Agency:
(925) 348-1844
Listed By:
Kase
(925) 348-1844
Added: Jan 27, 2025
Changed: Mar 16
Investment Insights
Based on property information with market context.
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.
Key Highlights
- New 10 Year Net Leased Family Dollar
- Brand New Hybrid Store Concept
- Minimal Landlord Obligations
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
$86,348
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
5.14%
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%
$1,726,960
$1.7M
Cap Rate 7%
$1,233,543
$1.2M
Cap Rate 9%
$959,422
$959.4K
Market Conditions
NOI Build-Up for 10,500 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
$126.0K $12.00/SF
− Vacancy
−$2.6K −$0.25/SF
EGI
$123.4K $11.75/SF
− OpEx
−$37.0K −$3.52/SF
NOI
$86.3K $8.22/SF
Area
Ward County, ND
Vacancy
2.10%
Lease Rate
$12.00 /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%
$1,726,960
Cap Rate 7%
$1,233,543
Cap Rate 9%
$959,422
Alternative Uses
Best Use
Retail
$1.23M
$1.08M – $1.44M
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
NOI $98,683 @ 7.0% cap · market cap 5.87%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
Explore this area
Business Placement
Demographics for 58746, ND
1,462
Population
880
Households
1.7
Avg Household Size
44
Median Age
19%
College-Educated
92%
High-School Grad
446.7 sq mi
ZIP Area
3
Density / Sq Mi
$71,563
Median Household Income
$53,906
Median Earnings
$815
Median Rent
$148,300
Median Home Value
Market
Vacancy Rate% for Retail in Midwest region
Questions? Ask Rey
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Frequently Asked Questions
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
