Move-In Ready Flex
For Sale
$235,000
6100 36TH Street, Fargo, ND 58104
Shop condo units support personal use, Toy/RV storage, and other adaptable commercial needs.
Property Size1,500 SF
Price / SF$156.67
Days on Market2419
Property Features for 6100 36TH Street
General Information
Standard status
Active
Size
1,500 SF
Property subtype
General Commercial
Additional Details
Highway Access
Yes
Amenities
3
Building Details
Year Built
2022
Listing Agency:
CORE Property Group
(701) 371-5977
Listed By:
John Lillestol · License #9589
(701) 371-5977
Source:
Xome
Added: Jan 17, 2020
Changed: Aug 31
Last Checked: Aug 31 at 12:46PM
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 CORE Property Group
Investment Insights
Based on property information with market context.
These shop condominium units provide 1,500 square feet of commercial space and were built in 2022. The units are move-in ready and can be purchased individually, with multiple adjoining units available for buyers seeking a larger footprint. Supported uses described for the property include personal use and Toy/RV storage, along with flexible concepts such as mancaves and she-sheds.
The property is located at 6100 36TH Street S in Fargo, just off I-29 and near the 64th Avenue overpass. Its position provides convenient access to the surrounding transportation network while keeping the units within south Fargo.
The property is located at 6100 36TH Street S in Fargo, just off I-29 and near the 64th Avenue overpass. Its position provides convenient access to the surrounding transportation network while keeping the units within south Fargo.
Key Highlights
- 1,500‑square‑foot shop condo units
- Built in 2022
- Move‑in ready condition
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
$13,219
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
5.63%
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%
$264,380
$264.4K
Cap Rate 7%
$188,843
$188.8K
Cap Rate 9%
$146,878
$146.9K
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
$16.2K $10.80/SF
− Vacancy
−$648 −$0.43/SF
EGI
$15.6K $10.37/SF
− OpEx
−$2.3K −$1.56/SF
NOI
$13.2K $8.81/SF
Area
Fargo, ND
Vacancy
4.00%
Lease Rate
$10.80 /SF/Yr
Expense Ratio
15.00%
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%
$264,380
Cap Rate 7%
$188,843
Cap Rate 9%
$146,878
Alternative Uses
Best Use
Warehouse
$188.8K
$165.2K – $220.3K
NOI $13,219 @ 7.0% cap · market cap 5.63%
Second Best
Flex RnD
$172.8K
$151.2K – $201.6K
NOI $12,098 @ 7.0% cap · market cap 5.15%
Theoretical Best
Office A
$325.4K
$284.7K – $379.6K
NOI $22,777 @ 7.0% cap · market cap 9.69%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
52
Businesses Nearby
Well-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 units support personal use, Toy/RV storage, and other adaptable commercial needs.
Where is this flex space located?
The property is located at 6100 36TH Street Fargo, ND.
What is the asking price?
The asking price for this property is $235,000.
What are key features of this property?
This property features: 1,500‑square‑foot shop condo units; Built in 2022; Move‑in ready condition
