Heated Shop Condo with Overhead
For Sale
$295,000
5136 50th Avenue South, Fargo, ND 58104
Shop condo includes a heated interior, a 14' x 12' overhead door, floor drain, and a private bathroom.
Property Size1,500 SF
Price / SF$196.67
Days on Market144
Property Features for 5136 50th Avenue South
General Information
Standard status
Active
Size
1,500 SF
Property subtype
Industrial - Storage
Building Details
Building Size
1,500 SF
Listing Agency:
JBC Commercial Real Estate
Listed By:
Alyssa Lakosky · License #11697
(701) 929-6000
Source:
Commercialcafe
Added: Apr 15
Changed: Aug 15
Last Checked: Aug 14 at 8:04AM
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 JBC Commercial Real Estate
Investment Insights
Based on property information with market context.
This heated shop condo in the Linn Grove development is designed for practical business or storage use. The unit includes a functional interior layout with a 14' x 12' overhead door for straightforward loading and floor access, along with a floor drain and an on-site bathroom.
Located along a desirable and accessible corridor in South Fargo, the property is set within a development that supports convenient operations.
The unit is offered for sale as a 1,500 SF shop condo and is equipped with key building features for day-to-day work in a warehouse-style environment.
Located along a desirable and accessible corridor in South Fargo, the property is set within a development that supports convenient operations.
The unit is offered for sale as a 1,500 SF shop condo and is equipped with key building features for day-to-day work in a warehouse-style environment.
Key Highlights
- 1,500 SF shop condo in the Linn Grove development
- 14' x 12' overhead door for drive‑in access
- Heated interior
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
$12,098
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
4.10%
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%
$241,960
$242.0K
Cap Rate 7%
$172,829
$172.8K
Cap Rate 9%
$134,422
$134.4K
Market Conditions
NOI Build-Up for 1,500 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
$19.8K $13.20/SF
− Vacancy
−$1.2K −$0.79/SF
EGI
$18.6K $12.41/SF
− OpEx
−$6.5K −$4.34/SF
NOI
$12.1K $8.07/SF
Area
Fargo, ND
Vacancy
6.00%
Lease Rate
$13.20 /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%
$241,960
Cap Rate 7%
$172,829
Cap Rate 9%
$134,422
Alternative Uses
Best Use
Flex RnD
$172.8K
$151.2K – $201.6K
NOI $12,098 @ 7.0% cap · market cap 4.10%
Second Best
Industrial
$146.1K
$127.9K – $170.5K
NOI $10,228 @ 7.0% cap · market cap 3.47%
Theoretical Best
Office A
$325.4K
$284.7K – $379.6K
NOI $22,777 @ 7.0% cap · market cap 7.72%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
324
Businesses Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Demographics for 58104, ND
48,150
Population
21,847
Households
2.2
Avg Household Size
32
Median Age
49%
College-Educated
98%
High-School Grad
28.0 sq mi
ZIP Area
1,720
Density / Sq Mi
$85,014
Median Household Income
$51,148
Median Earnings
$1,087
Median Rent
$346,100
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?
Flex space - Shop condo includes a heated interior, a 14' x 12' overhead door, floor drain, and a private bathroom.
Where is this flex space located?
The property is located at 5136 50th Avenue South Fargo, ND.
What is the asking price?
The asking price for this property is $295,000.
What are key features of this property?
This property features: 1,500 SF shop condo in the Linn Grove development; 14' x 12' overhead door for drive‑in access; Heated interior
