Current Use by Public Records
- Regency Event Center / Wedding Service
Property Details for 105 1St Ave
- Year built
- 1950
- Property type
- Mixed-use properties
Description
This exceptional Class A mixed-use property in downtown Minot, North Dakota, presents a compelling investment opportunity. The 63,806 square foot building, constructed in 1950 and extensively renovated in 2021, boasts two buildings across four stories, plus a full basement. Currently 83% occupied, the property features 20 units, including 18 highly occupied residential apartments/condos and fully leased commercial space on the main and second floors. The main floor encompasses 14,357 square feet of commercial space, currently leased, and includes a secure server room meeting Department of Defense standards. The second floor houses a recently completed, fully leased event center. Basement space is also available for lease. The property includes 50 off-street parking spaces in a nearby lot. The commercial space is easily subdividable. The property sits on a 68,396 square foot lot, zoned C3, and is offered at $3,490,000 ($54.70/sq ft). This stabilized investment, with a strong tenant mix and prime downtown location, offers significant potential for long-term growth and return. The property's features include a sizable break room, several conference rooms, and ample office space. This is a rare opportunity to acquire a well-maintained, high-performing mixed-use asset in a thriving North Dakota market.
Value Estimations
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AI approach
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CAP approach
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Comparable approach
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Alternative Use
Location Insight
- Map
- Local Demand
- City
- Minot
- County
- Ward
- State
- North Dakota
- Longitude
- -101.292
- Latitude
- 48.2354
