Kenmare Investment Property
For Sale
Contact for pricing
50101 N HWY 52, Kenmare, ND 58746
Five buildings on 8.52 acres near HWY 52.
Property Size18,360 SF
Lot Size8.52 Acres
Price / SF$92.59
Days on Market296
Property Features for 50101 N HWY 52
General Information
Standard status
Active
Size
18,360 SF
Lot size
8.52 Acres
Property subtype
Special Purpose
Listing Agency:
Better Homes and Gardens Real Estate Watne Group
Listed By:
Becky Bertsch · License #ND 9176
Source:
Crexi
Added: Oct 31, 2025
Changed: Aug 14
Last Checked: Aug 14 at 7:24AM
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 Better Homes and Gardens Real Estate Watne Group
Investment Insights
Based on property information with market context.
This investment property is located in the East Bakken area, offering high visibility just off HWY 52 in Kenmare. The property includes five buildings situated on 8.52 acres. Building 1 features 5,500 square feet of office and parts storage space. The office area includes a showroom, three offices or conference rooms with large windows, and two bathrooms. The parts storage space is attached to the office area. Building 2 is a 7,200 square foot shop and tool room with a south entrance overhead door. Building 3 is a 2,880 square foot parts and cold storage building with an oversized garage door facing east. Building 4 is a 1,920 square foot oil shed. Building 5 is a large shop totaling 18,360 square feet, with 4,824 square feet of heated space on the west side and 13,536 square feet of cold storage on the east side, and oversized garage doors on the southwest and east ends. The property offers ample parking and room for large vehicles, making it suitable for various investment opportunities.
Key Highlights
- High visibility location off HWY 52 in Kenmare, ideal for business operations
- Five buildings on 8.52 acres, providing diverse usage options
- Building 5: Massive 18,360 s/f shop with heated and cold storage areas and oversized garage doors
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
$92,426
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
5.44%
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%
$1,848,520
$1.8M
Cap Rate 7%
$1,320,371
$1.3M
Cap Rate 9%
$1,026,956
$1.0M
Market Conditions
NOI Build-Up for 18,360 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
$143.2K $7.80/SF
− Vacancy
−$11.2K −$0.61/SF
EGI
$132.0K $7.19/SF
− OpEx
−$39.6K −$2.16/SF
NOI
$92.4K $5.03/SF
Area
Ward County, ND
Vacancy
7.80%
Lease Rate
$7.80 /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%
$1,848,520
Cap Rate 7%
$1,320,371
Cap Rate 9%
$1,026,956
Alternative Uses
Best Use
Industrial
$1.32M
$1.16M – $1.54M
NOI $92,426 @ 7.0% cap · market cap 5.44%
Second Best
Flex RnD
$1.15M
$1.01M – $1.34M
NOI $80,426 @ 7.0% cap · market cap 4.73%
Theoretical Best
Office A
$2.47M
$2.16M – $2.88M
NOI $172,555 @ 7.0% cap · market cap 10.15%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
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 Industrial in Midwest region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Flex space - Five buildings on 8.52 acres near HWY 52.
Where is this flex space located?
The property is located at 50101 N HWY 52 Kenmare, ND.
What is the asking price?
The asking price for this property is $1,700,000.
What are key features of this property?
This property features: High visibility location off HWY 52 in Kenmare, ideal for business operations; Five buildings on 8.52 acres, providing diverse usage options; Building 5: Massive 18,360 s/f shop with heated and cold storage areas and oversized garage doors
