Two-Building Industrial
For Sale
$3,500,000
11107 31P Street Southwest, Dickinson, ND 58601
Two industrial buildings are accompanied by adjacent vacant land and interior residential-style amenities.
Property Size28,916 SF
Price / SF$121.04
Days on Market72
Property Features for 11107 31P Street Southwest
General Information
Standard status
Active
Size
28,916 SF
Property subtype
Industrial
Listing Agency:
CBRE | Fargo
Listed By:
Kyle Ferderer · License #ND10560
(701) 660-3500
Source:
Cbre
Added: Jun 23
Changed: Aug 30
Last Checked: Sep 1 at 3:50PM
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 CBRE | Fargo
Investment Insights
Based on property information with market context.
This industrial property includes two buildings with 28,916 square feet of total property size. Interior amenities include a bedroom, dining room, exercise facility, and lockers, providing a range of on-site support spaces within the property.
An additional 9 acres of vacant land lies directly north of the buildings. The adjoining land is identified for potential expansion or use as a laydown yard, adding outdoor area to the two-building industrial configuration.
An additional 9 acres of vacant land lies directly north of the buildings. The adjoining land is identified for potential expansion or use as a laydown yard, adding outdoor area to the two-building industrial configuration.
Key Highlights
- Two industrial buildings included in the sale
- 28,916 square feet of property size
- Additional 9 acres directly north of the buildings
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
$171,241
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
4.89%
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%
$3,424,820
$3.4M
Cap Rate 7%
$2,446,300
$2.4M
Cap Rate 9%
$1,902,678
$1.9M
Market Conditions
NOI Build-Up for 28,916 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
$260.2K $9.00/SF
− Vacancy
−$15.6K −$0.54/SF
EGI
$244.6K $8.46/SF
− OpEx
−$73.4K −$2.54/SF
NOI
$171.2K $5.92/SF
Area
Stark County, ND
Vacancy
6.00%
Lease Rate
$9.00 /SF/Yr
Expense Ratio
30.00%
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%
$3,424,820
Cap Rate 7%
$2,446,300
Cap Rate 9%
$1,902,678
Alternative Uses
Best Use
Industrial
$2.45M
$2.14M – $2.85M
NOI $171,241 @ 7.0% cap · market cap 4.89%
Second Best
—
—
no second resolved use
Theoretical Best
Multifamily LT 5
$22.93M
$20.07M – $26.76M
NOI $1,605,335 @ 7.0% cap · market cap 45.87%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
52
Businesses Nearby
Explore this area
Business Placement
Demographics for 58601, ND
29,697
Population
13,619
Households
2.2
Avg Household Size
34
Median Age
28%
College-Educated
91%
High-School Grad
570.6 sq mi
ZIP Area
52
Density / Sq Mi
$81,008
Median Household Income
$49,085
Median Earnings
$968
Median Rent
$269,200
Median Home Value
Market
Vacancy Rate% for Industrial in Midwest region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Industrial property - Two industrial buildings are accompanied by adjacent vacant land and interior residential-style amenities.
Where is this industrial property located?
The property is located at 11107 31P Street Southwest Dickinson, ND.
What is the asking price?
The asking price for this property is $3,500,000.
What are key features of this property?
This property features: Two industrial buildings included in the sale; 28,916 square feet of property size; Additional 9 acres directly north of the buildings
