Flex Space with Drive-Through
For Sale
$875,000
13318 29th P Street Nw Arnegard ND 58835, Arnegard, ND 58835
Industrial property combines shop space, offices, and warehouse-oriented features for flexible operations.
Property Size7,630 SF
Price / SF$114.68
Days on Market16
Property Features for 13318 29th P Street Nw Arnegard ND 58835
General Information
Standard status
Active
Size
7,630 SF
Building Details
Year Built
2013
Listing Agency:
Exp Realty
(701) 369-3949
Listed By:
Erik C Peterson · License #9328
(701) 369-3949
Source:
Search.provenrealtynd
Added: Aug 15
Changed: Aug 24
Last Checked: Aug 29 at 6:16AM
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 Exp Realty
Investment Insights
Based on property information with market context.
This 7,630 SF flex property, built in 2014, includes a 6,000 sq ft shop and 1,630 sq ft of finished office space. The industrial layout has two bays, including one drive-in bay and one drive-through bay, along with 20' side walls, a 6'' R' concrete floor, spray foam insulation, radiant overhead heat, and mezzanine storage.
Set on approximately +/- 8.67 acres at 13318 29th P Street NW in Arnegard, ND, the property includes truck plug-ins, a private well, private septic, and an updated large diesel tank fueling system. The combination of shop, office, storage, and vehicle-access features supports industrial, warehouse, and distribution functions.
Set on approximately +/- 8.67 acres at 13318 29th P Street NW in Arnegard, ND, the property includes truck plug-ins, a private well, private septic, and an updated large diesel tank fueling system. The combination of shop, office, storage, and vehicle-access features supports industrial, warehouse, and distribution functions.
Key Highlights
- 7,630 SF flex property built in 2014
- 6,000 sq ft shop with 1,630 sq ft of office space
- Two bays: one drive‑in and one drive‑through
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
$37,791
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
4.32%
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%
$755,820
$755.8K
Cap Rate 7%
$539,871
$539.9K
Cap Rate 9%
$419,900
$419.9K
Market Conditions
NOI Build-Up for 7,630 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
$91.6K $12.00/SF
− Vacancy
−$33.4K −$4.38/SF
EGI
$58.1K $7.62/SF
− OpEx
−$20.3K −$2.67/SF
NOI
$37.8K $4.95/SF
Area
McKenzie County, ND
Vacancy
36.50%
Lease Rate
$12.00 /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%
$755,820
Cap Rate 7%
$539,871
Cap Rate 9%
$419,900
Alternative Uses
Best Use
Flex RnD
$539.9K
$472.4K – $629.9K
NOI $37,791 @ 7.0% cap · market cap 4.32%
Second Best
Warehouse
$508.9K
$445.3K – $593.8K
NOI $35,625 @ 7.0% cap · market cap 4.07%
Theoretical Best
Office A
$1.81M
$1.59M – $2.12M
NOI $127,012 @ 7.0% cap · market cap 14.52%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
5
Businesses Nearby
Well-served
Demand for This Use
Explore this area
Business Placement
Demographics for 58835, ND
1,050
Population
556
Households
1.9
Avg Household Size
29
Median Age
38%
College-Educated
97%
High-School Grad
241.0 sq mi
ZIP Area
4
Density / Sq Mi
$134,595
Median Household Income
$71,604
Median Earnings
$423,600
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?
Flex space - Industrial property combines shop space, offices, and warehouse-oriented features for flexible operations.
Where is this flex space located?
The property is located at 13318 29th P Street Nw Arnegard ND 58835 Arnegard, ND.
What is the asking price?
The asking price for this property is $875,000.
What are key features of this property?
This property features: 7,630 SF flex property built in 2014; 6,000 sq ft shop with 1,630 sq ft of office space; Two bays: one drive‑in and one drive‑through
