Former Harley-Davidson on 10
For Sale
$6,500,000
Pending
6611 2nd Ave W, Williston, ND 58801
33,000 SF commercial space on 10 acres with highway frontage.
Property Size33,000 SF
Lot Size10.00 Acres
Days on Market438
Property Features for 6611 2nd Ave W
General Information
Standard status
Pending
Size
33,000 SF
Lot size
10.00 Acres
Taxes and HOA fees
Annual Taxes
$42,397
Listing Agency:
eXp Realty
(612) 751-9303
Listed By:
Lucas D Natwick · License #10666
(701) 580-0564
Source:
Exprealty
Added: Jul 7, 2025
Changed: Sep 12
Last Checked: Sep 15 at 4:41PM
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 eXp Realty
Investment Insights
Based on property information with market context.
The property, formerly Black Magic Harley-Davidson, features 33,000 square feet of space situated on 10 acres. It benefits from highway frontage, offering high visibility. Constructed with ICF (Insulated Concrete Form), the building provides energy efficiency and durability. Clear-span trusses allow for interior reconfiguration. This free-standing facility is suitable for retail, showroom, flex industrial, event space, or a dealership. The versatile layout and ample land provide adaptability for a wide range of uses. It presents a redevelopment opportunity for both owner-users and investors.
Key Highlights
- 33,000 SF building on 10 acres with highway frontage.
- Redevelopment opportunity with versatile layout for retail, showroom, flex industrial, event space, or dealership.
- ICF (Insulated Concrete Form) construction for superior energy efficiency and durability.
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
$318,669
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
4.90%
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%
$6,373,380
$6.4M
Cap Rate 7%
$4,552,414
$4.6M
Cap Rate 9%
$3,540,767
$3.5M
Market Conditions
NOI Build-Up for 33,000 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
$475.2K $14.40/SF
− Vacancy
−$20.0K −$0.60/SF
EGI
$455.2K $13.80/SF
− OpEx
−$136.6K −$4.14/SF
NOI
$318.7K $9.66/SF
Area
Williams County, ND
Vacancy
4.20%
Lease Rate
$14.40 /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%
$6,373,380
Cap Rate 7%
$4,552,414
Cap Rate 9%
$3,540,767
Alternative Uses
Best Use
Retail
$4.55M
$3.98M – $5.31M
NOI $318,669 @ 7.0% cap · market cap 4.90%
Second Best
Flex RnD
$4.55M
$3.98M – $5.31M
NOI $318,533 @ 7.0% cap · market cap 4.90%
Theoretical Best
Office A
$7.28M
$6.37M – $8.49M
NOI $509,414 @ 7.0% cap · market cap 7.84%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
34
Businesses Nearby
Explore this area
Business Placement
Demographics for 58801, ND
34,921
Population
17,095
Households
2
Avg Household Size
31
Median Age
25%
College-Educated
91%
High-School Grad
716.1 sq mi
ZIP Area
49
Density / Sq Mi
$90,119
Median Household Income
$53,496
Median Earnings
$1,116
Median Rent
$279,800
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Industrial in Midwest region
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Frequently Asked Questions
What type of property is this?
Retail property - 33,000 SF commercial space on 10 acres with highway frontage.
Where is this retail property located?
The property is located at 6611 2nd Ave W Williston, ND.
What is the asking price?
The asking price for this property is $6,500,000.
What are key features of this property?
This property features: 33,000 SF building on 10 acres with highway frontage.; Redevelopment opportunity with versatile layout for retail, showroom, flex industrial, event space, or dealership.; ICF (Insulated Concrete Form) construction for superior energy efficiency and durability.
