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105 1st St SE
Minot, ND 58701
Build-to-Rent Property For Sale · 20 Units

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INVESTMENT HIGHLIGHTS

  • Excellent renovation, cash flow positive, great tenant experience, fantastic location and best of all...plenty of on-property parking!!
  • Retail shopping, food and beverage, entertainment, government buildings are all within walking distance.
  • Beautiful, active downtown Minot, North Dakota
  • This is a solid construction, well maintained property.

EXECUTIVE SUMMARY

This is fully renovated Mixed-Use real estate with plenty of on-property parking. All updates have been completed, All 'for-lease' space is rented other than the basement level. There are four above-ground levels and a full basement. The lease space consists of 18 Apartments/Condos (very high occupancy), a fully leased commercial space on the main floor, and a fully leased, recently completed Event Center on the second floor. As mentioned earlier, there is lease space on the basement level.
The first floor, 14,357/SF of commercial space is currently leased. There is a large server room with security features including bulletproof viewing windows, Cat 5e cabling throughout, steel in the walls for security purposes, and a passcode for entry. Everything is coded to DOD standards. The 1st floor of the building is made up of space on 3 levels, with 4 to 6 steps connecting the levels. There is a sizable break room, several conference rooms, a comfort room, and offices. There are 50+ off-street parking spaces in the 150 2nd St SE lot east of the building.
The commercial space can be subdivided with minimal cost.

PROPERTY FACTS Under Offer

Price Per Unit £129,292
Sale Type Investment
Sale Condition 1031 Exchange
No. Units 20
Property Type Build-to-Rent
Property Subtype
Apartment
  • General Retail Shopfront Retail / Residential
  • Office / Residential
Apartment Style Low-Rise
Costar Property Class B
Total Plot Size 1.44 ac
Property Size 63,806 sq ft
Average Occupancy 88%
No. Floors 4
Year Built 1950
Parking Allocation 0.78/1,000 sq ft
Opportunity Zone Yes
Use Class C3 - General Commercial

AMENITIES

UNIT AMENITIES

  • Air Conditioning
  • Storage Space
  • Security System
  • High Speed Internet Access
  • Basement

SITE AMENITIES

  • 24 Hour Access
  • Controlled Access
  • Security System
  • Wheelchair Accessible
  • On-Site Retail
  • Smoke Free
  • Storage Space
  • Lift
  • Listing ID: 32618535

  • Date on Market: 29/07/2024

  • Last Updated:

  • Address: 105 1st St SE, Minot, ND 58701

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