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Property profile & analytics
OFF-MARKET
Commercial real estate

120 Main St Elgin, ND 58533

3,059 SF 0.08 ac lot Built 1920
Property ID
Property summary
AI-generated overview

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.

Property profile
Verified
Property type Commercial real estate
Year built 1920
Total area 3,059 SF
Lot 0.08 ac (3,485 SF)
Cap rate & NOI
Priority signal for investors
Implied cap rate, NOI & suggested price
Cap rate vs submarket · NOI estimate · 3 price anchors
Implied cap rate, NOI & suggested price
Cap vs submarket · NOI estimate · 3 price anchors
Value estimations
Realmo proprietary · 4 methods
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Owner & transaction history
Owner on record
Zoning & alternative use
Permitted uses
Permitted uses
Allowed · conditional · prohibited
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