1626 Commerce St Wahpeton, ND 58075

Property Details for 1626 Commerce St

Year built

2012

Lot size

0.82 lot acres

Property size

2,184 SF

Property type

Retail properties

Property subtype

Restaurants

Description

This fee-simple Dairy Queen property in Wahpeton, North Dakota, presents a compelling net lease investment opportunity. The 2,184 square-foot building, constructed in 2012, sits on a 0.82-acre lot at 1626 Commerce Street, boasting a prime location near Walmart and a lighted intersection. The property benefits from high traffic counts on ND-210 and 16th Avenue, and its proximity to North Dakota State College of Science ensures a consistent customer base. The current lease, a single-tenant agreement with a franchisee, has a remaining term of 10.1 years, expiring December 31, 2034, with a commencement date of March 8, 2020. The lease includes a significant 15% rent increase on January 1, 2030, further enhancing the investment's long-term value. The property's strong financial performance is reflected in its 6.5% cap rate and a current net operating income (NOI) of $82,800. The asking price is $1,274,000, translating to a price per square foot of $505.49. The building is a single-story structure with 100% occupancy. Landlord responsibilities are limited to structural and roofing maintenance under the NNN lease structure. The property's location within a thriving community, with a population exceeding 3,400 within a one-mile radius and an average household income over $72,000, ensures a stable and lucrative income stream. This investment offers a rare combination of strong tenant performance, favorable lease terms, and a desirable location, making it an exceptional opportunity for discerning investors.

Location Insight

City

Wahpeton

County

Richland

State

North Dakota

Longitude

-96.6273

Latitude

46.2836