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ONLINE ONLY: Commercial Auction - Ashley, ND

ONLINE ONLY: Commercial Auction - Ashley, ND 
Property Details (ID# 4420)
Date/Time
Fri Sep 10 8:00 AM CDT
-
Tue Sep 14 12:00 PM CDT
Property Location
Ashley, ND
County
McIntosh
Size
2 Parcels
Contact
Steve Link, 701.361.9985

 

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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.

Parcel 1 - USPS Building
Acres: 110 Main St. - Ashley, ND
Parcel 2 - USDA Building
Acres: 118 Main St. - Ashley, ND