New Commercial Flex Condo
For Sale
$550,000
107 Washington Avenue B, Williston, ND 58801
4,015 sq ft flex condo ready for build-out.
Property Size4,015 SF
Price / SF$136.99
Days on Market166
Property Features for 107 Washington Avenue B
General Information
Standard status
Active
Size
4,015 SF
Property subtype
Commercial
Listing Agency:
NextHome Fredricksen Real Estate
(701) 223-3030
Listed By:
Amanda L Stevens · License #9325
(701) 770-3394
Source:
Trademarknd
Added: Mar 27
Changed: Sep 8
Last Checked: Sep 8 at 8:16AM
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 NextHome Fredricksen Real Estate
Investment Insights
Based on property information with market context.
Located at 107 Washington Ave Suite B, this is a new architectural-grade commercial flex condo. The 4,015 sq ft space includes 2,687 sq ft on the main level and a 1,328 sq ft open mezzanine. The space is delivered unfinished, ready for a custom build-out. The property is zoned C-3 and located within Williston's Renaissance Zone, potentially qualifying it for tax incentives, including a 5-year property tax exemption and state income tax relief for qualifying commercial or mixed-use development. The flexible layout and upper-level mezzanine offer potential for live/work use. The building features 16' clear-span ceilings, an oversized 18'x18' overhead door, radiant in-floor heat, and a 6'' reinforced concrete slab designed for commercial-grade performance. Constructed in 2024, the building features steel-frame construction, an insulated metal roof, and EIFS exterior accents. City utilities are available, rough plumbing is installed, and there's a dedicated concrete parking pad out front. The property has easy access to Williston's main commercial corridors and Business Hwy 2.
Key Highlights
- Located in Williston's Renaissance Zone, potentially qualifying for significant tax incentives (buyer to verify).
- 4,015 sq ft commercial flex condo with a flexible layout and 1,328 sq ft open mezzanine.
- Delivered unfinished, ready for custom build‑out to suit specific business needs.
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
$38,755
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
7.05%
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%
$775,100
$775.1K
Cap Rate 7%
$553,643
$553.6K
Cap Rate 9%
$430,611
$430.6K
Market Conditions
NOI Build-Up for 4,015 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
$60.2K $15.00/SF
− Vacancy
−$602 −$0.15/SF
EGI
$59.6K $14.85/SF
− OpEx
−$20.9K −$5.20/SF
NOI
$38.8K $9.65/SF
Area
Williams County, ND
Vacancy
1.00%
Lease Rate
$15.00 /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%
$775,100
Cap Rate 7%
$553,643
Cap Rate 9%
$430,611
Alternative Uses
Best Use
Flex RnD
$553.6K
$484.4K – $645.9K
NOI $38,755 @ 7.0% cap · market cap 7.05%
Second Best
Mixed Use
$440.1K
$385.1K – $513.4K
NOI $30,805 @ 7.0% cap · market cap 5.60%
Theoretical Best
Office A
$885.4K
$774.7K – $1.03M
NOI $61,979 @ 7.0% cap · market cap 11.27%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
821
Businesses Nearby
Explore this area
Business Placement
Demographics for 58801, ND
34,921
Population
17,095
Households
2
Avg Household Size
31
Median Age
25%
College-Educated
91%
High-School Grad
716.1 sq mi
ZIP Area
49
Density / Sq Mi
$90,119
Median Household Income
$53,496
Median Earnings
$1,116
Median Rent
$279,800
Median Home Value
Market
Vacancy Rate% for Industrial 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?
Mixed-use property - 4,015 sq ft flex condo ready for build-out.
Where is this mixed-use property located?
The property is located at 107 Washington Avenue B Williston, ND.
What is the asking price?
The asking price for this property is $550,000.
What are key features of this property?
This property features: Located in Williston's Renaissance Zone, potentially qualifying for significant tax incentives (buyer to verify).; 4,015 sq ft commercial flex condo with a flexible layout and **1,328 sq ft open mezzanine**.; Delivered unfinished, ready for custom build‑out to suit specific business needs.
