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ONLINE ONLY: Commercial Auction - Ashley, ND
ONLINE ONLY COMMERCIAL AUCTION
Two Commercial Buildings - Ashley, ND
Opens: Friday, September 10, 2021 – 8:00 a.m. (CT)
Closes: Tuesday, September 14, 2021 – 12:00 p.m. (CT)
Auction Note: This auction features two buildings and two United States Government tenants. This is a fantastic opportunity to buy strong income producing properties with the United States Postal Service (USPS) leasing one building and United States Department of Ag (USDA) leasing the other building. Both are long standing tenants lease agreements in place.
Contact: Steve Link at 701.361.9985.
Parcel 1 - USPS Building
Address: 110 Main St. - Ashley, ND 58413
Legal: W5’ of Lot 11: Lot 12-13; Block 13 (Post Office), City of Ashley, McIntosh County, ND
Parcel ID: 07110000
Lot Size: 6,786 sq. ft.
Building Size: 1,921 sq. ft.
This property is offered on a Pifer’s Online Only Auction and is a “As Is, Where Is” commercial property sale. The USPS is in a 5-year term lease agreement at the current rate with two (2) 5-year extensions at new rates. The lease agreement and buyer will be assigned said lease. The USPS pays rent and takes care of utilities and the owner takes care of the real estate taxes, repairs, and upkeep to the property. The building is in downtown Ashley with a parking lot and street parking and loading access in the back. The building features a 1 story brick and cement block building that has been well taken care of.
USPS Lease Rate
Effective Date Expiration Date Per Annum Rental
09/01/2021 08/31/2026 $16,330.00
09/01/2026 08/31/2031 $17,147.00
09/01/2031 08/31/2036 $18,004.00
Parcel 2 - USDA Building
Address: 118 Main St. - Ashley, ND 58413
Legal: Lots 8-9-10 & 11 Less W5’; Block 13 (Federal Office), City of Ashley, McIntosh County, ND
Parcel ID: 07109000
Lot Size: 13,300 sq. ft.
Building Size: 6,240 sq. ft.
Year Built: 1989
This property is offered on a Pifer’s Online Only Auction and is a “As Is, Where Is” commercial property sale. The USDA is in a 3-year term lease agreement that will be assigned to the buyers. The building is in downtown Ashley with a parking lot and street parking as well as a leased lot across main street.
USDA Lease Rate
2021 2020 2019 2018
Total Rent $61,812 $52,850.91 $52,852.60 $52,842.27
Total Expenses NA $38,276.09 $36,061.48 $34,133.73
Net Income NA $14,574.82 $16,791.12 $18,708.54
OWNERS: South Central Investors Inc.