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21546094
21546095

3721 2nd Ave W, Williston, ND 58801

VP
MI MI 6501400083
Alrig USA
Listed by Alrig USA
$5,084,072
486 days on market
Updated 30 days ago

Shoppes At Williston

Details
Property Type Retail
Sub Type QSR/Fast Food, Shopping Center
Square Footage 8,960
Units 1
Cap Rate 6.50%
NOI $330,465
Occupancy 100%
Tenancy Multi
Brand/Tenant Starbucks, T-Mobile (+2)
Lease Type NNN
Lease Term 10
Lease Expiration 02/28/2034
Remaining Term 9
Rent Bumps Yes
Lease Options Yes
Year Built 2023
Buildings 1
Stories 1
Acreage 1.660
Investment Type Stabilized
Tenant Credit Credit Rated, Franchisee (+1)
Lease Commencement 03/01/2024
Occupancy Date 03/01/2024
Ownership Fee Simple

Retail | 6.50% CAP | 8,960 SF

Investment highlights

  • Fully Leased Four-Tenant Retail Building Occupied by Starbucks, T-Mobile, Jersey Mike’s Subs and Noodles & Company

  • All Tenants are Operating on 10-Year NNN Leases | Minimal Landlord Responsibilities

  • All Four Tenants Have Favorable Rent Increases Every Five Years, Including All Option Periods

  • Mix of Corporate & Franchisee Guaranteed Leases

  • Brand New 2023 Construction

  • Starbucks Space Equipped With Drive-Thru Lane Window

  • Starbucks and T-Mobile Are Both Investment Grade Credit Fortune 500 Companies | Corporate Guaranteed Leases

  • With Starbucks Having an S&P Rating of BBB+ and T-Mobile Having an S&P Rating of BBB

  • Massive Regional Pull | Adjacent To The Only Walmart Supercenter in 120 Miles

  • Large Parcel Size, 1.66 Acre Site | 86 Parking Spaces

  • Oil Town | Located Within The Williston Oil Basin, One Of The Largest Oil Hubs Outside of Texas in the U.S.

  • High Growth Trade Area | 210% Population Growth Since 2010 In The Area

  • High Income Trade Area | Average Household Income Exceeding $109K within 5 Miles of The Property

Listing Contacts

VP
MI MI 6501400083
Alrig USA
Listed by Alrig USA

Valuation Calculator

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Loan Amount
$0.00
Annual Debt Service
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Annual Cash Flow
$330,465.00
$27,538.75/mo

Valuation Metrics

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DSCR
6.5%
Cap Rate
6.5%
ROI

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