1807 22Nd AveMinot, ND 58701

Property Details for 1807 22Nd Ave

Year built

2014

Lot size

1.07 AC

Property type

Retail properties

Property subtype

Retail space

Description

This exceptional investment opportunity presents a 8,114 square foot, multi-tenant storefront located at 1807 22nd Ave SW in Minot, North Dakota. The property, built in 2014, sits on a 1.07-acre lot and boasts a strong 7.00% cap rate with a current NOI of $272,274. Anchored by a Panera Bread with a drive-thru, featuring over nine years remaining on a new 10-year NNN lease extension, including rental increases. Panera's lease comprises 71% of the total annual rent. The tenant is committed to the location, planning a $150,000 remodel by December 31, 2028. A second tenant, Mattress Firm, occupies a portion of the space with nearly two years remaining on their lease and two 5-year option periods. This franchisee NNN lease includes a 9-unit guaranty and a rental increase in August 2025. Mattress Firm is pending acquisition by Tempur Sealy. The property benefits from excellent visibility due to a large freeway-visible pylon sign and its strategic location near a signalized intersection with high daily traffic counts (33,500 CPD) and direct access to US 2/52 (15,900 CPD). Its proximity to Dakota Square Mall, with major retailers like Target and Best Buy, ensures significant crossover traffic. The surrounding area boasts affluent demographics, with average household incomes exceeding $104,000 within a 5-mile radius. Minot, ND itself is a growing market, experiencing over 16% population growth in the past decade. The asking price for this prime retail investment is $3,890,000.

Location Insight

City

Minot

County

Ward

State

North Dakota

Latitude

48.2096

Longitude

-101.32

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