Add Listing
    Property Lookup
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    1626 Commerce St Wahpeton, ND 58075
    Property profile & analytics

    1626 Commerce St, Wahpeton, ND 58075

    View on Map
    • Retail properties & Spaces
    • 2,184 SF
    • 0.82 lot acres
    Off-Market
    Value Estimations
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Dairy Queen Grill & Chill / Restaurant / Take-out & Catering
    • Trusted Lien Settlement - Wahpeton / Tax Preparation

    Property Details for 1626 Commerce St

    Year built
    2012
    Lot size
    0.82 lot acres
    Property type
    Retail properties & Spaces
    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.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

    Location Insight

    • Map
    • Local Demand
    City
    Wahpeton
    County
    Richland
    State
    North Dakota
    Longitude
    -96.6273
    Latitude
    46.2836

    Comparable in this City

    • Value Estimation by Request
      10,271 SF

      501 Dakota Ave

      Individual retail properties
      501 Dakota Ave, Wahpeton, ND 58075
      View Details
    • Value Estimation by Request
      1.03 Acres

      1625 Commerce St

      Individual retail properties
      1625 Commerce St, Wahpeton, ND 58075
      View Details
    • Value Estimation by Request
      4.72 Acres

      1712 17Th Ave

      Land
      1712 17Th Ave, Wahpeton, ND 58075
      View Details
    • Value Estimation by Request

      502 Dakota Ave

      Retail properties & Spaces
      502 Dakota Ave, Wahpeton, ND 58075
      View Details
    • Value Estimation by Request
      2.41 Acres

      Nd-210

      Land
      0 Nd-210, Wahpeton, ND 58075
      View Details
    • Value Estimation by Request
      0.09 Acres

      Wahpeton, ND 58075

      VACANT COMMERCIAL LAND
      Wahpeton, ND 58075
      View Details

    Similar Nearby for Sale

    • Contact for pricing
      2,500 SF

      Retail/Office Space on Dakota Avenue

      Retail or office space available for lease on Dakota Ave.
      502 Dakota Ave, Wahpeton, ND 58075
      View Details
    • $170,000
      0.13 Acres

      Downtown Retail Building with Apartments

      Main-level open retail space plus two upstairs apartments provides strong flexibility for income or owner-occupancy.
      312 Dakota Ave, Wahpeton, ND 58075
      View Details
    • $200,000
      10,271 SF

      Wahpeton Retail Bank Branch

      10,271 SF retail bank branch with four drive-thru lanes.
      501 Dakota Ave, Wahpeton, ND 58075
      View Details
    • Contact for pricing

      Development Land South of Hwy

      Development land near businesses and Hwy 210.
      1101 Wheatland Rd, Wahpeton, ND 58075
      View Details
    • $135,000
      11,111 SF

      Wahpeton Commercial Coffee Shop Investment

      Established Coffee Shop - Turnkey Operation
      1001 2Nd Ave, Wahpeton, ND 58075
      View Details
    Request Owner's contact information
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    1626 Commerce St
    Wahpeton, ND 58075
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    Thank You for Inquiry
    1626 Commerce St, Wahpeton, ND, 58075
    letter with green check mark
    Check your email
    We sent you the
    agent's contact details. yellow underline
    Can't find it?
    Please check your junk/spam folder.
    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!