Flex Building with Shop
For Sale
$2,695,000
2407 2nd Avenue W, Williston, ND 58801
A combination of shop and office areas includes occupied suites and space available for immediate occupancy.
Property Size11,995 SF
Lot Size0.81 Acres
Price / SF$224.68
Days on Market54
Property Features for 2407 2nd Avenue W
General Information
Standard status
Active
Size
11,995 SF
Total Parking Spaces
54
Lot size
0.81 Acres
Property subtype
Commercial
Warehouse & Industrial
Warehouse Space
6,324 SF
Three-Phase Power
Yes
Additional Details
Tenant in Place
Yes
Property Use
Shop/Office
Building Details
Year Built
2013
Listing Agency:
REAL
(701) 557-8215
Listed By:
Carla D Kemp · License #9615
(701) 770-8108
Source:
Gabrielblackre
Added: Sep 9
Changed: Oct 31
Last Checked: Oct 31 at 2:26PM
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 REAL
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Investment Insights
Based on property information with market context.
Built in 2013, this flex property contains 11,995 square feet of combined shop and office space. The shop area spans approximately 6,324 square feet and has in-floor heat, overhead quick-recovery heaters, three-phase power, and five 14-foot overhead doors, plus a smaller sixth door. The building also has several offices, a private entrance, and three separate office suites ranging from 1,255 to 2,564 square feet. Suites A and B have tenants in place, while Suites C and D are available. A generator serves the property, and a new second-floor AC unit is planned for 2026.
The 0.81-acre parcel is fully paved and includes 54 shared parking spaces. Lease options are also under consideration by the owners.
The 0.81-acre parcel is fully paved and includes 54 shared parking spaces. Lease options are also under consideration by the owners.
Key Highlights
- 11,995 sq ft of combined shop and office space
- Approximately 6,324 sq ft of shop area with in‑floor heat and overhead heaters
- Five 14' overhead doors plus a smaller sixth door; three‑phase electric
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$115,782
Cap Rate
4.30%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$2,315,640
$2.3M
Cap Rate 7%
$1,654,029
$1.7M
Cap Rate 9%
$1,286,467
$1.3M
Market Conditions
NOI Build-Up for 11,995 SF
Gross rent
$179.9K $15.00/SF
− Vacancy
−$1.8K −$0.15/SF
EGI
$178.1K $14.85/SF
− OpEx
−$62.3K −$5.20/SF
NOI
$115.8K $9.65/SF
Area
Williams County, ND
Vacancy
1.00%
Lease Rate
$15.00 /SF/Yr
Expense Ratio
35.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$2,315,640
Cap Rate 7%
$1,654,029
Cap Rate 9%
$1,286,467
Alternative Uses
Best Use
Flex RnD
$1.65M
$1.45M – $1.93M
NOI $115,782 @ 7.0% cap · market cap 4.30%
Second Best
Industrial
$1.03M
$897.4K – $1.20M
NOI $71,790 @ 7.0% cap · market cap 2.66%
Theoretical Best
Office A
$2.65M
$2.31M – $3.09M
NOI $185,164 @ 7.0% cap · market cap 6.87%
Zoning and permitted uses should be independently verified with authorities.
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Current Use
Location Intelligence
Trade Area within ½ mile
480
Businesses Nearby
Under-served
Demand for This Use
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Business Placement
Demographics for 58801, ND
34,921
Population
17,095
Households
2
Avg Household Size
31
Median Age
25%
College-Educated
91%
High-School Grad
716.1 sq mi
ZIP Area
49
Density / Sq Mi
$90,119
Median Household Income
$53,496
Median Earnings
$1,116
Median Rent
$279,800
Median Home Value
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Industrial in Midwest region
Frequently Asked Questions
What type of property is this?
Flex space - A combination of shop and office areas includes occupied suites and space available for immediate occupancy.
Where is this flex space located?
The property is located at 2407 2nd Avenue W Williston, ND.
What is the asking price?
The asking price for this property is $2,695,000.
What are key features of this property?
This property features: 11,995 sq ft of combined shop and office space; Approximately 6,324 sq ft of shop area with in‑floor heat and overhead heaters; Five 14' overhead doors plus a smaller sixth door; three‑phase electric
