937 3Rd St Mayville, ND 58257
- Retail properties
- 9,026 SF
- 0.90 lot acres
Current Use by Public Records
- FedEx OnSite / Mailing Service
- Western Union / Money Transfer Service
- Dollar General / Dollar Store / Convenience Store
Property Details for 937 3Rd St
- Year built
- 2017
- Lot size
- 0.90 lot acres
- Property size
- 9,026 SF
- Property type
- Retail properties
- Property subtype
- Retail space
Description
This exceptional investment opportunity presents a 9,026 square foot Dollar General, situated on a 0.9-acre lot at 937 3rd St SE, Mayville, ND 58257. The property boasts a strong 8.43% cap rate and a 15-year absolute NNN lease (with 7.4 years remaining) commencing March 22, 2017, and expiring March 31, 2032. The lease includes a credit-rated, corporate guarantee from a reputable tenant, ensuring financial stability. The property benefits from a built-in rent increase of 3% in 2027, further enhancing its long-term value. Constructed in 2017, this single-building property enjoys 100% occupancy and a current NOI of $83,844. The asking price is $995,000, translating to $110.24 per square foot. Its strategic location near Sanford Mayville Medical Center, Mayport Farmers Co-Op, Stand Ready-Mix, and Mayville State University (within 1 mile) contributes to its strong performance. The property's proximity to Alton Grain Terminal, Kelly Bean Company, and Valley United Co-Op further enhances its desirability. Mayville is recognized for its excellent schools and healthcare facilities, creating a stable and attractive market. The lease includes options for renewal periods of 4-5 years. The property's APN is 27000104225006. This is a rare opportunity to acquire a high-performing, low-maintenance investment with significant long-term potential.
Value Estimation
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CAP approach
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Comparable approach
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Alternative Use
Location Insight
- Map
- Local Demand
- City
- Mayville
- County
- Traill
- State
- North Dakota
- Longitude
- -97.3094
- Latitude
- 47.498
