Fargo Shop Condos For
For Sale
Contact for pricing
1810 Sheyenne Lp N, Fargo, ND 58102
Versatile shop condos with yard space, ideal for various uses.
Property Size5,040 SF
Price / SF$174.60
Days on Market752
Property Features for 1810 Sheyenne Lp N
General Information
Standard status
Active
Size
5,040 SF
Property subtype
Retail, Office, Land
Zoning
LI
Building Details
Year Built
2024
Stories
1
Listing Agency:
Goldmark Commercial Real Estate Inc
Listed By:
Nathan Vollmuth · License #ND 10338
Source:
Crexi
Added: Aug 9, 2024
Changed: Aug 26
Last Checked: Aug 29 at 6:53PM
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 Goldmark Commercial Real Estate Inc
Investment Insights
Based on property information with market context.
High-quality shop condos are available for sale along 19th Avenue North and 45th Street in Northwest Fargo. These versatile units are suitable for secure storage, toy/RV storage, workshop space, hobbyist activities, personal gyms, and art studios. Each unit includes ample yard space. The location provides convenient access to major roads and amenities, making it suitable for personal and professional use. These shop condos provide a solution for expanding workspace or creating a dedicated area for hobbies. The property size is 5040 square feet.
Key Highlights
- High‑quality shop condos.
- Versatile units suitable for various uses: storage, workshop, gym, studio, etc.
- Ample yard space, a unique feature of this development.
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
$40,649
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
4.62%
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%
$812,980
$813.0K
Cap Rate 7%
$580,700
$580.7K
Cap Rate 9%
$451,656
$451.7K
Market Conditions
NOI Build-Up for 5,040 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
$66.5K $13.20/SF
− Vacancy
−$4.0K −$0.79/SF
EGI
$62.5K $12.41/SF
− OpEx
−$21.9K −$4.34/SF
NOI
$40.6K $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%
$812,980
Cap Rate 7%
$580,700
Cap Rate 9%
$451,656
Alternative Uses
Best Use
Flex RnD
$580.7K
$508.1K – $677.5K
NOI $40,649 @ 7.0% cap · market cap 4.62%
Second Best
Industrial
$490.9K
$429.6K – $572.8K
NOI $34,366 @ 7.0% cap · market cap 3.91%
Theoretical Best
Office A
$1.09M
$956.6K – $1.28M
NOI $76,531 @ 7.0% cap · market cap 8.70%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
8
Businesses Nearby
Explore this area
Business Placement
Demographics for 58102, ND
30,767
Population
16,757
Households
1.8
Avg Household Size
32
Median Age
45%
College-Educated
95%
High-School Grad
31.6 sq mi
ZIP Area
974
Density / Sq Mi
$56,028
Median Household Income
$31,939
Median Earnings
$829
Median Rent
$235,600
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 - Versatile shop condos with yard space, ideal for various uses.
Where is this flex space located?
The property is located at 1810 Sheyenne Lp N Fargo, ND.
What is the asking price?
The asking price for this property is $880,000.
What are key features of this property?
This property features: High‑quality shop condos.; Versatile units suitable for various uses: storage, workshop, gym, studio, etc.; Ample yard space, a unique feature of this development.
