Online Auction Nov. 14-16, 2023.
±2.59-Acre Commercial Parcel in Strong Growth Market at the Epicenter of the Bakken Shale/Oil Formation
91% Population Growth from 2010-2023 and 7.6% Growth Anticipated 2023-2028 (5-Mile Radius)
Population of ±30,986 and Average Household Income of (5-Mile Radius)
Direct Frontage and Visibility on Dakota Pkwy with Traffic Counts of ±17,176 Vpd
Nearby National Retailers including Menards, Sportsman's Warehouse, and Strong Industrial Drivers Related to the Booming Shale Oil and Gas Industry
Zoned Hcc, Highway Corridor Commercial District Allowing for Flexible Uses including Retail, Restaurant, and Mini-Storage Buildings
Absolute Auction - NO Reserve
Marcus & Millichap and RI Marketplace are pleased to present a ±2.59-Acre land parcel located adjacent to 5922 W Dakota Pkwy (the “Property”) in Williston, North Dakota. This Property offers an exceptional investment opportunity via development and First BID Meets Reserve.
The Property is a ±2.59-Acre parcel with 273' of frontage along Dakota Parkway with traffic counts of ±17,176 vehicles per day. The Property benefits from strong demand generators and is surrounded by industrial and commercial development driven by the shale oil and gas industry. Within five miles of the Property, the population has grown 91% since 2010 and is anticipated to grow another 7.6% between 2023 and 2028. The Property benefits from highly favorable and flexible Hcc, Highway Corridor Commercial District zoning that allows for a wide variety of commercial uses including general retail, restaurant, mini-storage, and many others.
The Williston MSA is a compelling market for commercial real estate investors looking to capitalize on the burgeoning energy sector. Located in the heart of the Bakken Formation, Williston has experienced a remarkable resurgence, driven by the shale oil and gas industry. The city's strategic positioning as a hub for energy exploration and production has led to a surge in population and increased demand for commercial properties. Its pro-business climate, robust infrastructure development, and strategic transportation links, including rail and highways, make it a pivotal logistics and distribution center. As the epicenter of the Bakken oil boom, Williston offers a unique opportunity for commercial real estate investors seeking high potential for rental income and capital appreciation. This dynamic market is poised for continued growth, making it an attractive destination for investors with an eye for long-term success. The 5-mile trade area is supported by ±30,986 residents boasting an impressive average household income approaching . With prime positioning, this offering provides the opportunity to develop an extremely well-located asset within a high growth market.
Cary M. Aasness
Fisher Auction Company Inc.