Sign Up Successful!
You now have access to more from Realmo!
    For Sale
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    The Largest CRE Database in the US with Over 1 Million Listings

    3958 21St St Se Mandan, ND 58554

    Loading data...
    Loading data...
    Loading data...
    For Sale
    $329,900

    Versatile 1750 sqft shop condo in Lakewood Centre Association.

    Lot size:
    0.04 Acres

    Property Features for 3958 21St St Se

    General Information

    Standard status
    Active
    Lot size
    0.04 Acres

    We can help!

    Listing Contact
    Frankie Sue Pierson
    Source: Exprealty

    Listing Agency: EXP REALTY Listing Agent: Frankie Sue Pierson

    Displayed information is deemed reliable but is not guaranteed and should be independently verified.

    Learn more

    Overview

    Lakewood Shop Condo For Sale

    This 1750 sqft (25' x 75') shop condo is located in the heart of Lakewood, with convenient access to I-94 exits. The property includes a half bathroom, finished walls, a utility sink, and a ceiling fan. An AC unit and heater provide year-round comfort. An added bonus is the camper outlet and camper sewer dump for RV owners. The Lakewood Centre Shop Association provides snow removal, exterior insurance, Wi-Fi connectivity, city water/sewer access, security cameras, and grass cutting. This property is suitable for business owners seeking a workspace or individuals needing secure storage. It presents an investment opportunity for generating rental income, enhancing a portfolio, or starting a business.
    Location Intelligence

    Current Use by Public Records

    Flex space

    Suggested Use

    Restaurant Realty agency Building Supply Spa & Massage Wholesale Shop Hair Salon Auto Repair Shop Clothing Store Nail Salon Pharmacy

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Mandan
    County
    Morton
    State
    North Dakota
    Longitude
    -100.8406399
    Latitude
    46.8057262

    Nearby Similar for Sale

    • $254,900

      Well-Maintained Commercial Property in Lakewood

      900 sq ft light commercial property in a thriving Mandan location.
      2041 40Th Ave Se, Mandan, ND 58554
      View Details
    • $345,000

      Versatile Shop with Pull-Through Access

      Well-appointed shop with high ceilings, tandem doors, and ample parking.
      4518 56 Ave Nw, Mandan, ND 58554
      View Details
    • $265,000

      Mandan Commercial Building with Apartments

      Commercial building with medical practice space and two apartments.
      104 W Main St, Mandan, ND 58554
      View Details
    • $380,000

      Upscale Business & Storage Condos

      Luxury commercial condos in Mandan, designed for business and storage.
      3901 21St St Se, Mandan, ND 58554
      View Details
    • $550,000
      12,575 SF

      Mixed-Use Property on Main Street

      Mixed-use property featuring office, retail, and apartment spaces.
      318-320 W Main St, Mandan, ND 58554
      View Details
    • $1,490,000

      Mandan Industrial Property with Storage

      Industrial property featuring heated shops and cold storage units.
      2107 37Th St, Mandan, ND 58554
      View Details
    • $2,300,000
      17,877 SF

      Mandan Warehouse with Office Space

      Warehouse with 3,100 SF office, corner lot, distribution access.
      2909 Twin City Dr, Mandan, ND 58554
      View Details
    • $850,000
      9,600 SF

      Fully Leased Flex/Industrial/Office Building

      9,600 SF fully leased building on a 16,375 SF lot.
      805 Adobe Trl, Mandan, ND 58554
      View Details
    • $450,000
      1.18 Acres

      Mandan Commercial Lot - Prime Location

      1.18-Acre Lot, High Traffic Area, $450,000
      2580 Overlook Ln, Mandan, ND 58554
      View Details
    • $329,900
      1,750 SF

      Mandan Shop Condo: Prime Location

      Versatile 1750 sq ft shop condo, move-in ready.
      3958 21St St, Mandan, ND 58554
      View Details
    • $225,000
      1,500 SF

      North Mandan Shop Condo - $225K

      1,500 sq ft Mixed-Use Condo, Ready April 2024
      4301 30Th Ave, Mandan, ND 58554
      View Details
    • $1,650,000
      176,418 SF

      Mandan Industrial Warehouse Investment

      176,418 SF Warehouse, Manufacturing
      2107 37Th St, Mandan, ND 58554
      View Details

    FAQs

    What type of property is this?
    Flex space - Versatile 1750 sqft shop condo in Lakewood Centre Association.
    Where is this flex space located?
    The property is located at 3958 21St St Se Mandan, ND.
    What is the asking price?
    The asking price for this property is $329,900.
    What are key features of this property?
    This property features: - Prime Lakewood location with easy access to I-94.; - Versatile 1750 sqft shop condo suitable for business or storage.; - Comprehensive association covers exterior maintenance, snow removal, security, and utilities (Wi-Fi, water/sewer).
    (701) 934-4019
    Request Owner's contact information
    3958 21St St Se Mandan, ND 58554
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    3958 21St St Se
    Mandan, ND 58554
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    3958 21St St Se Mandan, ND 58554
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    We can help!
    Listing Contact
    Frankie Sue Pierson
    (701) 934-4019
    Learn more
    Google sign-in failed. Please try again or use another login method.
    Create New Password
    • At least 8 characters
    • Contains both letters and numbers
    • Contains uppercase and lowercase letters
    • At most 32 characters
    • Password required
    • Password reset link has expired. Please request a new one.