Listed by Poelstra Properties
$136,000
Ryder, North Dakota Main Post Office
Details
Property Type Special Purpose
Sub Type Post Office
Square Footage 1,246
Net Rentable (SqFt) 1,246
Cap Rate 8.00%
NOI $10,882
Occupancy 100%
Tenancy Single
Brand/Tenant USPS
Lease Type Gross
Lease Term 5
Lease Expiration 09/30/2026
Remaining Term 0.2
Rent Bumps Yes
Lease Options $13,950/year ($11.20/sq. ft) from 10/1/2026 - 09/30/2031; $14,650 ($11.76/sq. ft) from 10/1/2031-09/30/2036
Pro-Forma Cap Rate 8%
Pro-Forma NOI $10,882
Price per SqFt $109
Class A
Year Built 1948
Year Renovated 1964
Buildings 1
Lot Size (SqFt) 3,250
Investment Type Net Lease
Tenant Credit Credit Rated
Lease Commencement 10/01/2021
Ground Lease No
Sale Condition N/A
Special Purpose | 8.00% CAP | 1,246 SqFt
Marketing description
Government-leased investment property featuring the Ryder, North Dakota Main Post Office. This historic brick building, built in 1964, offers a stable income stream from the United States Postal Service with a long-term lease in place. The property includes 1,246 square feet of interior space on a 3,250 square foot site. The USPS operates Monday-Friday 8am-12pm and Saturday 8am-10am. Located in Ryder, ND, a community of 100 residents in Ward County, with the nearest full-service post office 30 miles away in Turtle Lake.
Investment highlights
- Annual Rent: $12,729/year ($10.22/sq. ft.) from 10/1/2021 - 09/30/2026
- Renewal Options: $13,950/year ($11.20/sq. ft) from 10/1/2026 - 09/30/2031; $14,650 ($11.76/sq. ft) from 10/1/2031-09/30/2036
- No Purchase Options
- Lessor Maintenance Rider
- Lessor Tax Rider
- 8% cap rate
- NOI: $10,882
Listing Contacts
Listed by Poelstra Properties
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Loan Amount
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Annual Debt Service
$--
$--
Annual Cash Flow
$10,882.00
$906.83/mo
Valuation Metrics
0
DSCR
8%
Cap Rate
8%
ROI
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