201 Main StMandan, ND 58554

Property Details for 201 Main St

Year built

2006

Lot size

1.49 AC

Property size (Sq ft)

15,400 SF

Property type

Retail properties

Property subtype

Retail space

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.

Location Insight

City

Mandan

County

Morton

State

North Dakota

Latitude

46.8267

Longitude

-100.888

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