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Timber Development Corp Sells Joshua Plaza Retail Center In Minot For $4.1M

Property Image
SOLD
$4,100,000
Eric Abbott
Zachary (Zach) Taylor

North Dakota

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Retail36,800 SF
Sold 05/02/2025
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Property Image
SOLD

Timber Development Corp Sells Joshua Plaza Retail Center In Minot For $4.1M

301 40th Ave Sw

See Similar Deals
Retail36,800 SF
Sold 05/02/2025
Eric Abbott
Zachary (Zach) Taylor
the dealplayerscompscontact
Contact now

Summary

NORTH DAKOTA
Asset Type:Retail
Price Per Square Foot:$111
Total Square Footage:36,800 SF
Transaction Type:Sale

The asset involved in the transaction is a retail center located at 301 40th Ave Sw in Minot, ND. This property, known as Joshua Plaza, was developed by Timber Development Corp in 2004 and encompasses a total square footage of 36,800. The sale price for the property was $4,100,000, resulting in a price per square foot of $111.

Summary of transaction details:

  • Property Type: Retail
  • Transaction Amount: $4,100,000
  • Address: 301 40th Ave Sw
  • Market: Minot, ND
  • Asset Size: 36,800 SF
  • Price per Square Foot: $111
  • Seller: Timber Development Corp
  • Broker Representatives: Eric Abbott & Zachary (Zach) Taylor - Marcus & Millichap

Marcus & Millichap successfully brokered the transaction, marking the sale of Joshua Plaza. The involved broker representatives, Eric Abbott and Zachary (Zach) Taylor, played a significant role in facilitating this transaction on behalf of Timber Development Corp.

Players

Zachary (Zach) Taylor
Marcus & Millichap
Zachary Taylor
42 deals$355.9M volume(678) 808-2780
BROKER
Eric Abbott
Marcus & Millichap
Eric Abbott
30 deals$169.6M volume(678) 808-2746
BROKER
TC
Timber Development Corp
SELLER

Details

SOLD
IMAGE: 05/02/2025 ADDRESS: 301 40th Ave Sw MARKET: Minot, ND ASSET TYPE: Retail SELLER: Timber Development Corp BROKERS: Eric Abbott & Zachary (Zach) Taylor - Marcus & Millichap SALE PRICE: $4,100,000 SF: 36,800 ~ PPSF: $111 NOTE: Marcus & Millichap brokered the $4.1M sale of Joshua Plaza, a 36,800 SF retail center in Minot developed by Timber Development Corp in 2004.

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Deal Type
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)

$218,666.66

Debt Service Coverage Ratio (DSCR)

0.94x

Cap Rate

5.33%

Cash Flow (Annual)-$14,566.44
Cash-on-Cash Return-1.27%
Monthly Debt Service$19,436.09
Annual Debt Service$233,233.10