West Fargo Steel Building For
For Sale
Contact for pricing
2520 Main Ave W, West Fargo, ND 58078
New freestanding steel building with I-94 access and outdoor storage.
Property Size11,760 SF
Price / SF$125.43
Days on Market961
Property Features for 2520 Main Ave W
General Information
Standard status
Active
Size
11,760 SF
Class
A
Property subtype
Industrial
Building Details
Year Built
2019
Listing Agency:
Core Property Group
Listed By:
Jeremy Horst · License #ND 8209
(701) 235-2920
Source:
Crexi
Added: Jan 16, 2024
Changed: Aug 21
Last Checked: Sep 2 at 6:16AM
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.
This newly constructed freestanding steel building is located in West Fargo, just off Main Avenue and I-94. The building is configured with multiple 28-foot by 60-foot bays, each featuring 16-foot overhead doors. The interior includes floor drains and a 20-foot sidewall height. The property also features an extra outdoor storage area. The total property size is 11,760 square feet.
Key Highlights
- Newly built free standing steel building
- Located just off Main Avenue and I‑94
- Several 28’ x 60’ bays
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
$83,667
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
5.67%
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%
$1,673,340
$1.7M
Cap Rate 7%
$1,195,243
$1.2M
Cap Rate 9%
$929,633
$929.6K
Market Conditions
NOI Build-Up for 11,760 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
$105.8K $9.00/SF
− Vacancy
−$7.4K −$0.63/SF
EGI
$98.4K $8.37/SF
− OpEx
−$14.8K −$1.26/SF
NOI
$83.7K $7.11/SF
Area
Cass County, ND
Vacancy
7.00%
Lease Rate
$9.00 /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%
$1,673,340
Cap Rate 7%
$1,195,243
Cap Rate 9%
$929,633
Alternative Uses
Best Use
Warehouse
$1.20M
$1.05M – $1.39M
NOI $83,667 @ 7.0% cap · market cap 5.67%
Second Best
Industrial
$984.3K
$861.3K – $1.15M
NOI $68,902 @ 7.0% cap · market cap 4.67%
Theoretical Best
Specialty Retail
$2.17M
$1.90M – $2.53M
NOI $152,092 @ 7.0% cap · market cap 10.31%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
69
Businesses Nearby
Well-served
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.
Similar Off Market Nearby
- North American Van Lines — B, 1830 4th Ave NW B1, West Fargo, ND 58078
- Fettes Transportation Systems — B, 1830 4th Ave NW Bldg B, West Fargo, ND 58078
Frequently Asked Questions
What type of property is this?
Warehouse - New freestanding steel building with I-94 access and outdoor storage.
Where is this warehouse located?
The property is located at 2520 Main Ave W West Fargo, ND.
What is the asking price?
The asking price for this property is $1,475,000.
What are key features of this property?
This property features: Newly built free standing steel building; Located just off Main Avenue and I‑94; Several 28’ x 60’ bays
