201 Main St Mandan, ND 58554
- Retail space
- 15,400 SF
- 1.49 lot acres
Current Use by Public Records
- Retail space
Property Details for 201 Main St
- Year built
- 2006
- Lot size
- 1.49 lot acres
- Property size
- 15,400 SF
- Property type
- Retail space
- Property subtype
- Storefront properties
- APN
- 65-006103045
Description
This exceptional investment opportunity presents a stabilized retail property located at 201 & 211 E Main St, Mandan, North Dakota, 58554. The property consists of two single-story buildings totaling 15,400 square feet on a 1.49-acre lot, built in 2006 and zoned CB - Heavy Commercial. It's currently 100% occupied by O'Reilly Auto Parts (6,300 sq ft) and Family Dollar (9,100 sq ft), both with strong corporate guarantees. The property boasts a significant net operating income (NOI) of $159,876, resulting in an attractive 7.49% cap rate. The asking price is $2,135,000, translating to $138.64 per square foot. O'Reilly's lease extends to July 31, 2043, with three five-year renewal options. Family Dollar's lease runs until December 31, 2046, with four five-year renewal options, and includes a percentage rent clause of 3% of gross sales exceeding $2,400,000 annually. Expense responsibilities are clearly defined in the lease agreements, with the landlord responsible for roof, structure, and parking lot maintenance for both tenants. This property offers a compelling combination of strong tenants, long-term leases, and a high-yielding return on investment, making it an ideal addition to any portfolio. The APN is 65-006103045.
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
- Mandan
- County
- Morton
- State
- North Dakota
- Longitude
- -100.8879065882
- Latitude
- 46.826704152651
