Flex Building with Heated
For Sale
Contact for pricing
2942 Fiechtner Drive, Fargo, ND 58103
Standalone commercial building combining dedicated office space, service areas, and outdoor storage capacity.
Property Size5,564 SF
Price / SF$197.70
Days on Market57
Property Features for 2942 Fiechtner Drive
General Information
Standard status
Active
Size
5,564 SF
Property subtype
Retail, Office, Industrial
Additional Details
Outdoor Storage
Yes
Three-Phase Power
Yes
Amenities
bathroom with shower
washer and dryer hookups
break room
conference room
reception area
Building Details
Year Built
1998
Buildings
1
Listing Agency:
Property Resources Group
(701) 499-3949
Listed By:
Sierra Wendt · License #10004
Source:
Crexi
Added: Jul 6
Changed: Aug 30
Last Checked: Aug 30 at 7:23PM
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 Property Resources Group
Investment Insights
Based on property information with market context.
This 5,564-square-foot flex property, built in 1998, combines a heated shop with a substantial office component. Shop features include two 12-foot overhead doors, floor drains, a bathroom with shower, washer and dryer hookups, storage rooms, and a mezzanine. A heated concrete pad serves the area in front of the exterior shop spaces, with yard space also included.
The office layout provides eight private offices, a conference room, reception area, break room, and multiple restrooms. Office finishes have been recently refinished, supporting a polished workspace alongside the service and storage areas. The standalone configuration accommodates a mix of administrative, shop, and outdoor storage functions within one property.
The office layout provides eight private offices, a conference room, reception area, break room, and multiple restrooms. Office finishes have been recently refinished, supporting a polished workspace alongside the service and storage areas. The standalone configuration accommodates a mix of administrative, shop, and outdoor storage functions within one property.
Key Highlights
- 5,564 SF standalone flex building built in 1998
- Heated shop with two 12’ overhead doors, floor drains, and mezzanine
- Eight private offices plus conference room, reception, break room, and multiple restrooms
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
$65,199
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
5.93%
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%
$1,303,980
$1.3M
Cap Rate 7%
$931,414
$931.4K
Cap Rate 9%
$724,433
$724.4K
Market Conditions
NOI Build-Up for 5,564 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
$103.5K $18.60/SF
− Vacancy
−$16.6K −$2.98/SF
EGI
$86.9K $15.62/SF
− OpEx
−$21.7K −$3.91/SF
NOI
$65.2K $11.72/SF
Area
Fargo, ND
Vacancy
16.00%
Lease Rate
$18.60 /SF/Yr
Expense Ratio
25.00%
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%
$1,303,980
Cap Rate 7%
$931,414
Cap Rate 9%
$724,433
Alternative Uses
Best Use
Office B
$931.4K
$815.0K – $1.09M
NOI $65,199 @ 7.0% cap · market cap 5.93%
Second Best
Warehouse
$700.5K
$612.9K – $817.2K
NOI $49,034 @ 7.0% cap · market cap 4.46%
Theoretical Best
Office A
$1.21M
$1.06M – $1.41M
NOI $84,488 @ 7.0% cap · market cap 7.68%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
1,864
Businesses Nearby
Well-served
Demand for This Use
Explore this area
Business Placement
Demographics for 58103, ND
46,754
Population
25,241
Households
1.9
Avg Household Size
36
Median Age
37%
College-Educated
93%
High-School Grad
11.5 sq mi
ZIP Area
4,066
Density / Sq Mi
$57,699
Median Household Income
$38,241
Median Earnings
$831
Median Rent
$239,200
Median Home Value
Market
Vacancy Rate% for Office in Midwest region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Similar Off Market Nearby
- D & J Catering — 1404 33rd St S, Fargo, ND 58103
- ADIBON FUSION CUISINE — 3017 13th Ave S, Fargo, ND 58103
- Milk Made Catering — 612 23rd St S, Fargo, ND 58102
Frequently Asked Questions
What type of property is this?
Flex space - Standalone commercial building combining dedicated office space, service areas, and outdoor storage capacity.
Where is this flex space located?
The property is located at 2942 Fiechtner Drive Fargo, ND.
What is the asking price?
The asking price for this property is $1,100,000.
What are key features of this property?
This property features: 5,564 SF standalone flex building built in 1998; Heated shop with two 12’ overhead doors, floor drains, and mezzanine; Eight private offices plus conference room, reception, break room, and multiple restrooms
