120 Main St Elgin, ND 58533
This 3,059 square foot commercial building in Elgin, ND, is a fantastic opportunity for a savvy investor or entrepreneur. Located at 120 N Main Street, this property boasts a versatile layout ideal for various businesses. The current configuration includes a front bar area with seating and gaming options, a rear space equipped for pool tables, dart boards, and a stage, perfect for entertainment. Additional space encompasses an office area with laundry hook-ups and a shower, restrooms, an inventory area, and a basement offering ample storage. Recent upgrades significantly enhance the building's value and functionality. These include a new exterior electrical system (2020), a rebuilt cooler (2017), a new roof (2018), updated flooring (2021), and added insulation (2023). The property sits on a 0.08-acre lot, with the possibility of expansion onto an adjoining vacant lot available for purchase from the city of Elgin. This presents a unique opportunity to increase the property's footprint and cater to growing business needs. The seller is open to a contract for deed, offering flexible financing options. Alternatively, the building is available for lease at $2,000 per month plus utilities. Elgin's strategic location in a popular pheasant hunting area, near Lake Tschida, and on a well-traveled route for motorcyclists and car clubs ensures high visibility and potential for a thriving business. The city's vibrant community and regular events further contribute to a strong local market. This is a turnkey operation with significant upside potential.
Cap rate
Implied · in-place · derived from last sale + estimated NOIValue
AI, CAP & Alternative Use estimations · Realmo proprietary blendComparables
6 recent transactions · within 1.5 miComparable in this City
Property description
Physical attributes from public recordsZoning & alternative use
No recorded transactions found for this property.
Costs & Benchmarks
Operating expenses, capex projections, utility benchmarks, and submarket comparables — all in one view.
Risks
Flood, climate, environmental, title, and tenant-concentration risk — surfaced with mitigations and source citations.