1626 Commerce St Wahpeton, ND 58075

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.