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    824 Dakota Ave Wahpeton, ND 58075

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    For Lease
    $1,501,534

    Dollar General store in Wahpeton, ND with investment grade credit.

    Type:Retail
    Added:
    Nov 21, 2025
    Days on Market:
    133
    Last Refresh:
    Apr 1 at 8:51 pm

    Property Features for 824 Dakota Ave

    General Information

    Standard status
    Active
    Property subtype
    Retail

    Building Details

    Year Built
    1977

    We can help!

    Listing Contact
    Bryan Bender
    Bryan Bender

    Listing agent Bryan Bender License #6501319610

    Listing office Fortis Net Lease

    Listing date Nov 21, 2025

    Source Fortisnetlease

    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 Fortis Net Lease

    Overview

    Dollar General Investment Opportunity

    This 15,311 square foot Dollar General store is located in Wahpeton, North Dakota. The property is secured with a 10-year Double Net (NN) Lease, with the landlord responsible for roof and restructure. The lease includes 10% rental rate increases at each of the four 5-year renewal options. The lease is corporately guaranteed by Dollar General Corporation, which holds a 'BBB' credit rating, classified as investment grade. The store, retrofitted from a former Family Dollar, has been open and operating since November 2023. Positioned on the hard corner of 9th Street N and Dakota Avenue, the site benefits from high visibility with a traffic count of 10,006 cars per day. The surrounding area has a ten-mile population of 13,323 and a three-mile average household income of $64,343 per year. The location is surrounded by local businesses and residential homes. The store ranks in the top 20% of all Dollar General stores in North Dakota based on foot traffic. Wahpeton is located along the Red River, across from Breckenridge, Minnesota. It lies at the junction of U.S. Highways 75 and 210, and North Dakota Highway 13, approximately 50 miles south of Fargo. The property has multiple points of ingress and egress.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Dollar General Discount Store

    Suggested Use

    Real Estate Agency Law Firm Restaurant Spa & Massage Center Dental Office Hair Salon Nail Salon Building Supply Gym & Fitness Center Auto Repair Shop

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

    Location Insight

    • Map
    • Local Demand
    City
    Wahpeton
    County
    Richland
    State
    North Dakota
    Longitude
    -96.612
    Latitude
    46.264

    FAQs

    What type of property is this?
    NNN property - Dollar General store in Wahpeton, ND with investment grade credit.
    Where is this nnn property located?
    The property is located at 824 Dakota Ave Wahpeton, ND.
    What is the lease rate?
    The lease rate is $1,501,534.
    What are key features of this property?
    This property features: Investment Grade Tenant: Leased to Dollar General Corporation with a "BBB" credit rating.; Strong Rental Increases: Lease includes 10% rental rate increases at each renewal.; High‑Performing Store: Ranks in the top 20% of all North Dakota Dollar General stores based on foot traffic.
    (248) 419-3810
    We can help!
    Listing Contact
    Bryan Bender
    Bryan Bender
    Real Estate License ID: 6501319610
    Learn More
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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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