416 6th St NE, Kenmare, ND 58746

Building Details

Tenancy Single More

Listing Agency: The Kase Group

Listed By: Jacob Abusharkh · License CA #01385529 Show Phone

Source: Crexi

Added: Feb 9 Changed: Nov 7 Last Checked: Nov 10 at 7:01AM

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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 The Kase Group

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Investment Insights

Based on property information with market context.

This net-leased Family Dollar location is in Kenmare, North Dakota. The lease has a 10-year term with minimal landlord responsibilities. The lease includes six 5-year renewal options, each with a $0.50/SF rent increase. The lease is backed by a corporate guarantee from Family Dollar. The property is located along 6th Street in Kenmare, providing visibility and access to Highway 52. The property benefits from a central position in a growing area of the city, attracting a steady flow of customers both locally and from nearby areas. Its location in a well-established neighborhood with minimal competing retailers nearby allows Family Dollar to serve as a go-to discount store for local residents. Its proximity to major transportation routes enhances its appeal to customers and increases potential foot traffic. The property is 10,500 square feet.

Key Highlights

• 10‑year net lease, minimal landlord responsibilities for stable income.
• Corporate guarantee from Family Dollar ensures lease security.
• Six 5‑year renewal options with rent increases for future growth.

Financial Insights

Estimated NOI and Cap Rate

NOI / Yr

$86,348

Cap Rate

5.78%

Suggested Prices Based on Cap Rates

Cap Rate 5%

$1,726,960 $1.7M

Cap Rate 7%

$1,233,543 $1.2M

Cap Rate 9%

$959,422 $959.4K

Is this asking price fair?

Market Conditions

NOI Build-Up for 10,500 SF

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 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 (±1% cap)

NOI $86,348 @ 7.0% cap · market cap 5.78%

Second Best

Specialty Retail

$821.3K

$718.7K – $958.2K (±1% cap)

NOI $57,494 @ 7.0% cap · market cap 3.85%

Theoretical Best

Office A

$1.41M

$1.23M – $1.64M (±1% cap)

NOI $98,683 @ 7.0% cap · market cap 6.61%

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

Grocery and convenience stores

Suggested Use

Top Pick Parking Lot & Garage Electrical Service Auto Repair Shop Garden Center Storage Facility Bakery

Score = modeled unmet demand for each use within ~1 mi (higher = bigger opportunity). Zoning and permitted uses should be independently verified with local authorities.

Location Intelligence

Trade Area within ½ mile

151

Businesses Nearby

Well-served

Demand for This Use

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

8% 2020

7.3% 2021

6.5% 2022

6% 2023

5.7% 2024

6.3% 2025

Similar For Sale Nearby

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Family Dollar - Dollar Tree Combo Store

415 6th St NE | , ND, Kenmare, ND 58746

$1,680,000

10,500 SF

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Kenmare Investment Property on Highway

50101 HWY 52 N, Kenmare, ND 58746

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18,360 SF

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Frequently Asked Questions

What type of property is this?

Grocery and convenience store - Net-leased Family Dollar in Kenmare, ND with corporate guarantee.

Where is this grocery and convenience store located?

The property is located at 416 6th St NE Kenmare, ND.

What is the asking price?

The asking price for this property is $1,493,333.

What are key features of this property?

This property features: 10‑year net lease, minimal landlord responsibilities for stable income.; Corporate guarantee from Family Dollar ensures lease security.; Six 5‑year renewal options with rent increases for future growth.