299 Prairie Dr
Stanley, ND 58784
Property For Lease

For Lease or sale by owner. Well-constructed 7609 sf mixed use office/apartment building at 299 Prairie Drive in Stanley, ND, geologic center of the Bakken Formation, county seat of most oil producing county in North Dakota, northern terminus of Dakota Access oil pipeline. Excellent condition. Constructed and purchased in 2013 for $1,150,000, for sale now at $699,000. Owner financing available. Previous 5-year lease for $18.20/sf triple net ended December 31, 2018. Attractive new lease rate starts at $10.80/square foot NNN for whole building with 2 to 5-year lease. Will also rent 2145 sf main floor office space separately for $4470 per month full service lease (landlord pays taxes, building insurance, gas, electric, city water, snow removal, landscaping). Tenant pays data, cleaning, renters insurance for tenant contents. Additional listed spaces available to rent by tenant with significant discount available for single tenant to rent entire building ($6500 per month plus NNN). Owner also offers a rent to own plan: $6750/month + NNN, Zero down, 15 years Please Contact owner Doug Chandler at 406 579-2150 by text or phone. This building is an attractive purchase or lease for a company who wants office space and living space for employees or wants some extra space to sublease. The zoning and building permit allows not only for the two 2-Bedroom Apartments, but also for light, airy employee housing in motel style rooms in Basement with large egress windows. This building is also attractive as income property, with the previous lease and purchase price and the presently offered (much reduced) lease and purchase price both returning a cap rate of over 11%. For developers, this property could be enlarged by finishing the basement office space and/or by purchasing the neighboring 0.21 acre lot(s) for $20,000 each to provide more office, retail, parking, shop, or other amenities. This building features heavy duty, low maintenance exterior with masonry and metal siding, ballasted membrane roof, zeroscape landscaping, concrete off-street parking lot and ample on street parking for corner lot. Heavy duty commercial construction with 10” thick basement walls, 4 inch water/fire service – whole building is sprinkled. Serviced with city water and sewer; fiber optic phone/computer/TV; electric and gas. Air conditioning plus ample light and operable vinyl windows throughout. Furnished 2145 square foot main floor office space with 3 private offices and 4 cubicals with built in desks and filing, large reception area, kitchenette and conference room. Included furniture and equipment includes large format plotter and color printer/copier/scanner, work table, conference table, built in desks, cabinets and reception area with granite counter tops. Two upstairs partially furnished, 1000 sf each, two-bedroom apartments with gas furnaces, air conditioning, laundry closet/hookups, TV and internet connections. Roof top lawn/garden area at same level above garage. Main level office and upstairs apartments feature 9’ foot ceiling heights, 6 panel solid oak doors, oak cabinetry, and granite counter tops. 2145 sf basement with: two hotel style sleeping rooms; bathroom, utility room with gas forced air furnace for basement and main floor, computer server room with homerun wiring to every cubical, office, and room. Unfinished basement kitchen area and office area is also wired for computers, phone, and power for cubicals or more private offices. Basement is cool and dry, with underslab drainage and radon plumbing that have never been needed. 1174 sf heated garage/lab space with 3 vehicle doors/stalls, radiant floor heat, bathroom, utility sink, work bench and storage. Building is well-insulated and energy efficient. Property taxes are $7000 per year, plus SID’s. SID payoff is $16,000, or $2500 per year to pay off municipal bond. Building is located on corner lot which is 0.22 acres, with adjacent 0..21 acre lot(s) available for expansion for $20,000 each. Summary 299 Prairie Drive, Stanley, ND 58784 Constructed 2013 for $1,150,000. For Sale at $699,000. Owner financing available. For Lease at $6500 per month NNN. 7609 sf mixed use office/apartment building: 2145 sf finished main floor office space 2145 sf partially finished basement includes office and motel style sleeping rooms 2145 sf Residential living in two 2BR second floor Apartments 1116 radiant floor heated 3 stall garage w work space and bathroom Property taxes are $7000 per year, plus SID’s. SID payoff is $16,000, or $2500 per year to pay off municipal bond. Building is located on corner lot which is 0.22 acres, with adjacent 0..21 acre lot(s) available for expansion for $20,000 each. Call Doug Chandler (owner) at 406 579-2150 or inquire to doug@alliedengineering.com.