Main Medical Building 315 Main St S 31,152 SF 100% Leased Office Building Minot, ND 58701 $1,386,073 CAD ($44.49 CAD/SF) 9.91% Cap Rate
INVESTMENT HIGHLIGHTS
- Great investment opportunity in Minot's new revitalized downtown district.
- Tenant leases have terms from 1 to 5 years.
- The property includes 3 city lots, the building and two additional lots for parking.
- Existing restaurantequipment conveys with the building.
EXECUTIVE SUMMARY
Great investment opportunity in Minot's new revitalized downtown district. The Main Medical Building located at 315 South Main Street on the NE corner of Burdick Expressway is on the entrance to the continuing changing downtown district. In C3/Downtown Business District zone. In Minot's RENAISSANCE ZONE which offers tax breaks for qualifying improvements to the property. The property includes 3 city lots, the building and two additional lots for parking. Tenant leases have terms from 1 to 5 years. Existing restaurant equipment conveys with the building. All leases include taxes, building insurance, and common area maintenance. (CAM includes Wi-Fi, electric, heat, common are cleaning and snow removal) Additional add-on amenities are available was associated costs are reserved parking and premiere signage are available. 12 years of financials (2012-2022) available for quality buyers with confidentially agreement. One of the listing agents is the owner and is licensed real estate professional in North Dakota.
PROPERTY FACTS
Sale Type
Investment
Property Type
Office
Property Subtype
Medical
Building Size
31,152 SF
Building Class
C
Year Built/Renovated
1927/2022
Price
$1,386,073 CAD
Price Per SF
$44.49 CAD
Cap Rate
9.91%
NOI
$137,359 CAD
Percent Leased
100%
Tenancy
Multiple
Building Height
3 Stories
Typical Floor Size
10,144 SF
Slab To Slab
12’
Building FAR
1.12
Lot Size
0.64 AC
Opportunity Zone
Yes
Zoning
C3 - ORIGINAL MINOT ADDITION LOTS 10, 11 & 12 BLOCK 15
Parking
56 Spaces (1.84 Spaces per 1,000 SF Leased)
AMENITIES
- Signage
- Central Heating
- Direct Elevator Exposure
- Reception
- Air Conditioning
Walk Score®
Very Walkable (83)
PROPERTY TAXES
| Parcel Number | MI-24238-150-012-0 | Improvements Assessment | $309,398 CAD |
| Land Assessment | $44,809 CAD | Total Assessment | $354,207 CAD |
