Industrial Property with Office
For Sale
$625,000
2516 132c Avenue NW, Arnegard, ND 58835
5,000 sq ft shop with 964 sq ft office.
Property Size5,964 SF
Lot Size4.80 Acres
Price / SF$104.80
Days on Market873
Property Features for 2516 132c Avenue NW
General Information
Standard status
Active
Size
5,964 SF
Lot size
4.80 Acres
Property subtype
Business Opportunities
Taxes and HOA fees
Annual Taxes
$2,498
Amenities
Central Air
3
4.8, 4.800000190734863
Overhead Doors. County Road, Paved Road.
Building Details
Year Built
2012
Listing Agency:
REAL
(701) 557-8215
Listed By:
Shayla Riggins · License #10140
(918) 617-1438
Source:
Xome
Added: Mar 20, 2024
Changed: Aug 8
Last Checked: Aug 8 at 4:40AM
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 REAL
Investment Insights
Based on property information with market context.
This property is located in a sought-after industrial subdivision, central to oil activity. The shop provides 5,000 sq ft of space and includes two 14 ft drive-in doors, along with 220 and 3-phase electricity. An additional 964 sq ft of office space is attached, featuring a front entry for reception, two large offices, three bathrooms, a break room, and a file room. The property sits on 4.8 acres of stabilized yard, with a fully paved road leading to it. An active well with a new pump installed in 2024 is present on the property. Rural water is available in the subdivision. There are 4 trailer homes located on the property.
Key Highlights
- Prime location in a sought‑after industrial subdivision at the heart of oil activity.
- 5,000 sq ft shop with two 14 ft drive‑in doors, 220 and 3‑phase electricity.**
- 4.8 acres of stabilized yard with fully paved road access.
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$29,540
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
4.73%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$590,800
$590.8K
Cap Rate 7%
$422,000
$422.0K
Cap Rate 9%
$328,222
$328.2K
Market Conditions
NOI Build-Up for 5,964 SF
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.
Gross rent
$71.6K $12.00/SF
− Vacancy
−$26.1K −$4.38/SF
EGI
$45.4K $7.62/SF
− OpEx
−$15.9K −$2.67/SF
NOI
$29.5K $4.95/SF
Area
McKenzie County, ND
Vacancy
36.50%
Lease Rate
$12.00 /SF/Yr
Expense Ratio
35.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$590,800
Cap Rate 7%
$422,000
Cap Rate 9%
$328,222
Alternative Uses
Best Use
Office B
$1.02M
$896.4K – $1.20M
NOI $71,711 @ 7.0% cap · market cap 11.47%
Second Best
Flex RnD
$422.0K
$369.3K – $492.3K
NOI $29,540 @ 7.0% cap · market cap 4.73%
Theoretical Best
Office A
$1.42M
$1.24M – $1.65M
NOI $99,279 @ 7.0% cap · market cap 15.88%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
1
Businesses Nearby
Well-served
Demand for This Use
Explore this area
Business Placement
Demographics for 58835, ND
1,050
Population
556
Households
1.9
Avg Household Size
29
Median Age
38%
College-Educated
97%
High-School Grad
241.0 sq mi
ZIP Area
4
Density / Sq Mi
$134,595
Median Household Income
$71,604
Median Earnings
$423,600
Median Home Value
Market
Vacancy Rate% for Office in Midwest region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Flex space - 5,000 sq ft shop with 964 sq ft office.
Where is this flex space located?
The property is located at 2516 132c Avenue NW Arnegard, ND.
What is the asking price?
The asking price for this property is $625,000.
What are key features of this property?
This property features: Prime location in a sought‑after industrial subdivision at the heart of oil activity.; 5,000 sq ft shop with two 14 ft drive‑in doors, 220 and 3‑phase electricity.**; 4.8 acres of stabilized yard with fully paved road access.
