SINGLE TENANT INVESTMENT PROPERTY - WATFORD CITY, NDLOCATED IN HEART OF THE BAKKEN OIL SHALE : Great Buying Opportunity in North Dakota
CAP RATE: 8.00% ($2,970,000)
-Publicly Traded Tenant NNN leased industrial building - Newly constructed 18,000 SF industrial building on an industrial zoned 5.14 acre fenced and stabilized lot
-Very Strong International Tenant
-Lease Term: 5 year primary term with two 5 year options to renew
-Lease Expiration: 7/31/2020
-NOI: $237,600 NNN
-Scheduled rental increases of 2% annually
-Prime location with close proximity to Basic Energy Services, MBI Energy Services, National Oil Well Varco, Whiting Petroleum, Conoco Philips, Nuverra, Alpha Oil & Gas, CDI Energy Products, Crestwood, Crestwood, Watfor City Municipal Airport, Downtown Watford
Water, power, fiber-optic, septic, fully fenced and stabilized with scoria
Watford, North Dakota is located at the center of the drilling activity for the Bakken Formation. Tremendous oil reserves are being estimated for the Bakken/Three Forks Formation. The total estimates on the amount of oil production could increase dramatically in the future, as drilling companies are now not only drilling in the Bakken Formation, but also into the Three Forks Formation, which is directly below the Bakken.
North Dakota, is a national leader in GDP growth for the last three years running and Wall Street Journal claims North Dakota is the Best Run State in the nation. Countless fortune 500 companies are setting up shop in North Dakota for the long term, and even the most-conservative analyst' s estimate North Dakota has at least a 50 year supply of oil. The Bakken oil field is believed to yield anywhere from 24-40 billion barrels. Population is expected to continue to increase over the next several decades.
