Move-In Ready Office
For Sale
Contact for pricing
1102 Main Street, Williston, ND 58801
Office building with modernized interiors, central A/C, elevator service, and an asphalt parking lot.
Property Size15,755 SF
Price / SF$107.90
Days on Market88
Property Features for 1102 Main Street
General Information
Standard status
Active
Size
15,755 SF
Class
A
Total Parking Spaces
40
Property subtype
Office
Zoning
Commercial use (Residential zoned, but permitted for office use)
Lease Type
NNN
Investment Type
Owner/User
Building Details
Year Built
1954
Year Renovated
2014
Tenancy
Multi
Listing Agency:
Dakota Commercial Fargo
Listed By:
Neal Beitelspacher · License #ND 8294
Source:
Crexi
Added: Jun 10
Changed: Aug 27
Last Checked: Aug 31 at 6:04PM
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 Dakota Commercial Fargo
Investment Insights
Based on property information with market context.
1102 Main Street is a 15,755 SF office building offering a professional, move-in-ready environment following a major remodel completed between 2014 and 2017. Improvements described in the property materials include updated windows, exterior improvements, and a rubber membrane roof installed in 2017, along with modernized interior office and meeting areas, a breakroom/kitchen, and elevator service. Access is supported by three stairways reaching both main and lower levels.
The property is positioned for high visibility on Main Street with convenient access to Highway 2, and includes an asphalt parking lot with approximately 40 spaces.
Building systems and features noted include hot water radiant heat, central A/C, and a fire sprinkler system.
The property is positioned for high visibility on Main Street with convenient access to Highway 2, and includes an asphalt parking lot with approximately 40 spaces.
Building systems and features noted include hot water radiant heat, central A/C, and a fire sprinkler system.
Key Highlights
- 15,755 SF office building on a 29,800 SF lot with Main Street visibility and convenient access to Highway 2
- Major remodel completed between 2014 and 2017 with over $3,000,000 invested in improvements
- 2017 updates include a rubber membrane roof plus exterior improvements and updated windows
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
$140,377
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
8.26%
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%
$2,807,540
$2.8M
Cap Rate 7%
$2,005,386
$2.0M
Cap Rate 9%
$1,559,744
$1.6M
Market Conditions
NOI Build-Up for 15,755 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
$236.3K $15.00/SF
− Vacancy
−$2.4K −$0.15/SF
EGI
$234.0K $14.85/SF
− OpEx
−$93.6K −$5.94/SF
NOI
$140.4K $8.91/SF
Area
Williams County, ND
Vacancy
1.00%
Lease Rate
$15.00 /SF/Yr
Expense Ratio
40.00%
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%
$2,807,540
Cap Rate 7%
$2,005,386
Cap Rate 9%
$1,559,744
Alternative Uses
Best Use
Office B
$2.53M
$2.21M – $2.95M
NOI $176,960 @ 7.0% cap · market cap 10.41%
Second Best
Healthcare Medical
$2.01M
$1.75M – $2.34M
NOI $140,377 @ 7.0% cap · market cap 8.26%
Theoretical Best
Office A
$3.47M
$3.04M – $4.05M
NOI $243,207 @ 7.0% cap · market cap 14.31%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
896
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 Office in Midwest region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Office building - Office building with modernized interiors, central A/C, elevator service, and an asphalt parking lot.
Where is this office building located?
The property is located at 1102 Main Street Williston, ND.
What is the asking price?
The asking price for this property is $1,699,900.
What are key features of this property?
This property features: 15,755 SF office building on a 29,800 SF lot with Main Street visibility and convenient access to Highway 2; Major remodel completed between 2014 and 2017 with over $3,000,000 invested in improvements; 2017 updates include a rubber membrane roof plus exterior improvements and updated windows
