411 & 413 Main Street, Williston, ND 58801

2605 19th Avenue W, Williston, ND 58801

PORTFOLIO FEATURES

  • INVESTMENT SALE: $3,600,000
  • Can be sold as full portfolio or per property
  • Two high-end, mixed-use buildings containing 29 retail and multifamily units and totaling 36,812 SF
    • 413 Main | 26,000 SF | 20 units
      • 17 multifamily units | 3 commercial units
      • Ideally located on Main Street in downtown Williston
      • CLICK HERE for property portal
    • Pheasant Run Center | 10,812 SF | 9 units
      • 6 multifamily units | 3 commercial units
      • Located directly adjacent to the forthcoming Sloulin Field Airport Redevelopment project
      • CLICK HERE for property portal
  • As the hub of Bakken oil and gas, Williston has a skyrocketing economy. Couple this with growing housing demand and you have a climate for strong returns
  • Between Q2 2017 and Q2 2018, Williston taxable sales and purchases increased by over 29%

INVESTMENT HIGHLIGHTS

  • BAKKEN OIL PRODUCTION ACTIVITY:  2018 oil prices have been increasing, prompting Bakken oil production activity to reach historic levels. In August, North Dakota production reached a new record of 1.3 million barrels per day, marking the first time the state produced 40 million barrels in one month. The past six months brought an average monthly WTI price of $67.64 per barrel.
  • CONSTRAINED HOUSING SUPPLY:  Due to the resurgence of Bakken oil production activity, Western North Dakota has seen a rapid influx of service workers, dramatically increasing Williston’s housing demand. These workers are also shifting from month-to-month to a more permanent basis which grew Williston’s population 10% between 2016 and 2017. Today’s multifamily market has a depleted supply, and with no signs of demand waning this portfolio is well-positioned as an investment with high-return potential.
  • INCREASED CONSUMER SPENDING:  The increase in oil production has been an economic jolt for Western North Dakota energy markets. Not only has Williston seen an increase in population, but also in wages and consumer spending. Between 2016 and 2017, the median household income increased by a whopping 10.57%. And between Q2 2017 and Q2 2018, Williston taxable sales and purchases increased by over 29%.
  • STABILIZATION UPSWING:  The demand for Bakken oil in the global market is not disappearing anytime soon, keeping North Dakota shale play markets on an upward economic trajectory. We are seeing Bakken retail vacancy rates shrink to 2% as rental rates increase to $18-$22/SF NNN. On the multifamily side, we have vacancy rates shrinking to 7% (and dropping) as rental rates increase 28%-32%. With this stabilization upswing, investors have a very strong opportunity for future returns.

DUE DILIGENCE DOCUMENTS

Offering memorandum is available upon request with signed Confidentiality Agreement. Download CA HERE and send to Demetra Kapuranis at demetra.kapuranis@energyreco.com.

CONTACTS

Demetra Kapuranis
Transaction Manager
720.403.8431
demetra.kapuranis@energyreco.com

Mike Elliott
Managing Broker
701.713.6606
mike.elliott@energyreco.com