104 Prospect St SE
- 67,862 SF building
- 62 units
- Built in 2016
- Located in Watford City
- 100% occupancy
Property Description
This mixed-use investment property features 55 fully furnished apartment units and 7 retail suites, all 100% leased. The asset produces a strong 10.23% cap rate supported by consistent residential demand and stable commercial tenancy. The apartments are well finished with granite counter tops, quality cabinetry, durable flooring, and full furniture packages. Each unit includes an in-unit washer and dryer, providing a level of convenience that strengthens tenant retention and long-term occupancy. The property also includes outdoor car ports, an elevator, security cameras, and a full fire suppression system with sprinklers. Watford City, North Dakota is located in the center of the Bakken oil field, one of the most productive shale basins in the United States. McKenzie County consistently ranks as one of the top oil producing counties in North Dakota and accounts for a significant portion of statewide production. The region serves as a major operations base for exploration companies, midstream providers, drilling contractors, and oilfield service firms that support ongoing development in the Bakken. Economic performance in Watford City remains strong due to sustained oil production, high wages, and continued investment from energy operators. Median household income in McKenzie County is well above national averages, driven by the strength of energy sector employment. The city continues to expand retail, education, healthcare, and hospitality services to meet the needs of a growing resident and workforce population. Highway 85 and Highway 23 offer critical transportation corridors for freight movement, rig travel, and daily commuting. This regional access supports both apartment demand and commercial tenant stability. This mixed-use asset is positioned for long term performance within a high wage, high activity energy market that demonstrates durable demand for quality housing and commercial space.
Key Property Information
| Listing Status: | Available |
|---|---|
| Listing Type: | Call for offers |
| Property Types: | Apartment Buildings |
| Price: | $5,900,000 |
| No. of Units: | 62 |
| Year Built: | 2016 |
| Lot Size: | 3.63 Acres |
| Opportunity Zone: | No |
| Price per unit: | $95,161 |
| Property Website | Click Here |
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