Flex Space with Workshop
New
For Sale
$409,000
2233 Sheyenne St, West Fargo, ND 58078
Concrete flooring and a floor drain support practical shop and workshop functions.
Property Size2,288 SF
Price / SF$178.76
Days on Market6
Property Features for 2233 Sheyenne St
General Information
Standard status
Active
Size
2,288 SF
Building Details
Year Built
2016
Listing Agency:
eXp Realty (3240 WF)
Listed By:
Rachel Rogen
(701) 361-5768
Source:
Bradadamrealty
Added: Sep 30
Last Checked: Oct 4 at 1:54PM
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.
This 2,288-square-foot flex space was built in 2016 and features concrete floors and a floor drain. Its shop configuration can accommodate storage, hobby work, or workshop activity, with the space available for a new owner to adapt.
Key Highlights
- 2,288 square feet of flex space
- Concrete floors and a floor drain
- Built in 2016
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$19,702
Cap Rate
4.82%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$394,040
$394.0K
Cap Rate 7%
$281,457
$281.5K
Cap Rate 9%
$218,911
$218.9K
Market Conditions
NOI Build-Up for 2,288 SF
Gross rent
$32.9K $14.40/SF
− Vacancy
−$2.6K −$1.15/SF
EGI
$30.3K $13.25/SF
− OpEx
−$10.6K −$4.64/SF
NOI
$19.7K $8.61/SF
Area
Cass County, ND
Vacancy
8.00%
Lease Rate
$14.40 /SF/Yr
Expense Ratio
35.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$394,040
Cap Rate 7%
$281,457
Cap Rate 9%
$218,911
Alternative Uses
Best Use
Flex RnD
$281.5K
$246.3K – $328.4K
NOI $19,702 @ 7.0% cap · market cap 4.82%
Second Best
Industrial
$191.5K
$167.6K – $223.4K
NOI $13,405 @ 7.0% cap · market cap 3.28%
Theoretical Best
Specialty Retail
$422.7K
$369.9K – $493.2K
NOI $29,591 @ 7.0% cap · market cap 7.23%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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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
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Industrial in Midwest region
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Frequently Asked Questions
What type of property is this?
Flex space - Concrete flooring and a floor drain support practical shop and workshop functions.
Where is this flex space located?
The property is located at 2233 Sheyenne St West Fargo, ND.
What is the asking price?
The asking price for this property is $409,000.
What are key features of this property?
This property features: 2,288 square feet of flex space; Concrete floors and a floor drain; Built in 2016
