Freestanding Flex
For Sale
$575,000
2207 Sheyenne Street, West Fargo, ND 58078
Open commercial layout combines customer-facing showroom space with private office and warehouse storage areas.
Property Size2,310 SF
Price / SF$248.92
Days on Market588
Property Features for 2207 Sheyenne Street
General Information
Standard status
Active
Size
2,310 SF
Property subtype
General Commercial
Taxes and HOA fees
Annual Taxes
$7,677
Amenities
bathroom
kitchenette
3
Parking.
Lot.
Building Details
Year Built
2017
Buildings
1
Stories
1
Listing Agency:
Exp Realty (3240 Wf)
(701) 361-5768
Listed By:
Rachel Rogen
(701) 361-5768
Source:
Xome
Added: Jan 19, 2025
Changed: Aug 29
Last Checked: Aug 30 at 2:37PM
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 (3240 Wf)
Investment Insights
Based on property information with market context.
Built in 2017, this freestanding flex property contains 2,310 square feet arranged around an open commercial layout. The interior includes a showroom, private office, warehouse and storage area, bathroom, and kitchenette, with natural light throughout the space.
The property is located at 2207 Sheyenne Street in West Fargo, North Dakota, and includes parking and a lot. Its combination of showroom, office, and storage components supports a range of commercial configurations within a single building.
The property is located at 2207 Sheyenne Street in West Fargo, North Dakota, and includes parking and a lot. Its combination of showroom, office, and storage components supports a range of commercial configurations within a single building.
Key Highlights
- 2,310 SF freestanding commercial building
- Built in 2017
- Showroom, private office, and warehouse/storage area
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
$23,422
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
4.07%
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%
$468,440
$468.4K
Cap Rate 7%
$334,600
$334.6K
Cap Rate 9%
$260,244
$260.2K
Market Conditions
NOI Build-Up for 2,310 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
$34.9K $15.12/SF
− Vacancy
−$1.5K −$0.64/SF
EGI
$33.5K $14.48/SF
− OpEx
−$10.0K −$4.35/SF
NOI
$23.4K $10.14/SF
Area
Cass County, ND
Vacancy
4.20%
Lease Rate
$15.12 /SF/Yr
Expense Ratio
30.00%
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%
$468,440
Cap Rate 7%
$334,600
Cap Rate 9%
$260,244
Alternative Uses
Best Use
Retail
$334.6K
$292.8K – $390.4K
NOI $23,422 @ 7.0% cap · market cap 4.07%
Second Best
Flex RnD
$284.2K
$248.7K – $331.5K
NOI $19,892 @ 7.0% cap · market cap 3.46%
Theoretical Best
Specialty Retail
$426.8K
$373.4K – $497.9K
NOI $29,875 @ 7.0% cap · market cap 5.20%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
185
Businesses Nearby
Balanced
Demand for This Use
Explore this area
Business Placement
Demographics for 58078, ND
39,161
Population
16,416
Households
2.4
Avg Household Size
34
Median Age
45%
College-Educated
97%
High-School Grad
39.8 sq mi
ZIP Area
984
Density / Sq Mi
$97,206
Median Household Income
$51,208
Median Earnings
$1,073
Median Rent
$303,200
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 - Open commercial layout combines customer-facing showroom space with private office and warehouse storage areas.
Where is this flex space located?
The property is located at 2207 Sheyenne Street West Fargo, ND.
What is the asking price?
The asking price for this property is $575,000.
What are key features of this property?
This property features: 2,310 SF freestanding commercial building; Built in 2017; Showroom, private office, and warehouse/storage area
