Finished Shop Condo with
1004 5th Street E #106 Horace, ND 58047
1004 5th Street E #106, Horace, ND, 58047
$230,000
For Sale
$230,000
Fully finished shop condo units with office space, bathroom, and large overhead doors for versatile business use.
Property Size1,605 SF
Price / SF$143.30
Days on Market40
Property Features for 1004 5th Street E #106
General Information
- Standard status
- Active
- Size
- 1,605 SF
- Property subtype
- Commercial
Building Details
- Year Built
- 2025
Listing Agency
Horizon Real Estate Group
(218) 686-5607
Listed by
Shane Cullen
(218) 686-5607
Source
Juverealestate
Added: Jun 11 Checked: Jul 19 at 5:01 am
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of Horizon Real Estate Group
Investment Insights
Based on property information with market context.
These fully finished 28' x 60' (A) shop condo units combine office and shop space in a compact, workable layout. Each unit includes office space, a bathroom, and a storage room, with large windows and 16' ceilings to support a comfortable indoor environment. The construction is described as sheet rocked with poured footing walls and 2x8 construction, with quality build intended to support quiet, long-term use.
The units feature 12' x 14' overhead doors sized for larger equipment and vehicles, including the ability to accommodate a camper based on the provided remarks. With the shop-and-office configuration, the space is designed for businesses that need both a functional work area and dedicated interior space.
For prospective buyers, these condo-style units offer a finished interior setup without requiring fit-out for a basic office and amenities. The overhead door access and high ceilings make the units well suited for hands-on operations that benefit from direct drive-in capability, while the included bathroom and storage room support day-to-day workflow.
The units feature 12' x 14' overhead doors sized for larger equipment and vehicles, including the ability to accommodate a camper based on the provided remarks. With the shop-and-office configuration, the space is designed for businesses that need both a functional work area and dedicated interior space.
For prospective buyers, these condo-style units offer a finished interior setup without requiring fit-out for a basic office and amenities. The overhead door access and high ceilings make the units well suited for hands-on operations that benefit from direct drive-in capability, while the included bathroom and storage room support day-to-day workflow.
Key Highlights
- Fully finished 28' x 60' (A) shop condo units with office space, bathroom, and storage room
- Includes large windows and 16' ceilings
- Features 12' x 14' O.H. overhead doors sized for a camper
Local Financial Insights For Flex RnD
Simulate Cap Rate and NOI
NOI Build-Up
- Vacancy
- income lost from leasable area expected to sit empty during the year — subtracted from gross rent.
- EGI (Effective Gross Income)
- gross rent minus vacancy losses — the realistic income before paying operating costs.
- OpEx (Operating Expenses)
- recurring costs to operate the property (property tax, insurance, utilities, maintenance, management) — excludes financing and capital improvements.
- NOI (Net Operating Income)
- income a property generates after operating costs but before financing and taxes.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $23.1k | $14.40 |
| − Vacancy | −$1.8k | −$1.15 |
| EGI | $21.3k | $13.25 |
| − OpEx | −$7.4k | −$4.64 |
| NOI | $13.8k | $8.61 |
1,605 SF · lease $14.40/SF/yr · vacancy 8.00% · expense 35.00%
Alternative Uses
Best Use
Flex RnD
$197.4K
$172.8K – $230.4K
NOI $13,821 @ 7.0% cap · market cap 6.01%
Second Best
Warehouse
$163.1K
$142.7K – $190.3K
NOI $11,419 @ 7.0% cap · market cap 4.96%
Theoretical Best
Specialty Retail
$296.5K
$259.5K – $346.0K
NOI $20,757 @ 7.0% cap · market cap 9.02%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Property Profile
Location Intelligence
Current Use by Public Records
Flex space
Similar For Sale Nearby
FAQs
What type of property is this?
Flex space - Fully finished shop condo units with office space, bathroom, and large overhead doors for versatile business use.
Where is this flex space located?
The property is located at 1004 5th Street E #106 Horace, ND.
What is the asking price?
The asking price for this property is $230,000.
What are key features of this property?
This property features: Fully finished 28' x 60' (A) shop condo units with office space, bathroom, and storage room; Includes large windows and 16' ceilings; Features 12' x 14' O.H. overhead doors sized for a camper
