Shop Condo with Office
2971 Thunder Road S Fargo, ND 58104
2971 Thunder Road S, Fargo, ND, 58104
$599,900
For Sale
$599,900
Move-in ready shop condo with a finished office area, enclosed patio, and a 12x14 overhead garage door.
Property Size2,400 SF
Price / SF$249.96
Days on Market143
Property Features for 2971 Thunder Road S
General Information
- Standard status
- Active
- Size
- 2,400 SF
- Property subtype
- General Commercial
Building Details
- Year Built
- 2023
Listing agency
Realty Xperts
(651) 278-7326
Listed by
Sara Worwa
(651) 278-7326
Source
Xome
Added: Mar 1 Updated: Jul 21 at 11:46PM Checked: Jul 21 at 11:46PM
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 Realty Xperts
Investment Insights
Based on property information with market context.
This move-in ready shop condo offers approximately 2,400 square feet of flexible space, with a finished office area and a large shop/storage component. The office includes two private offices, a waiting room, and a bathroom, along with separate heat and A/C. The unit also features a full kitchen with custom cabinetry and backsplash, located just off a spacious stamped concrete patio. The patio is fully enclosed with hurricane fencing for added privacy.
The shop/storage area is designed for practical use with epoxy floors, a 12 x 14 ft overhead garage door, a floor drain, a walk-in mechanical room, and a utility sink. The property sits on a corner lot with direct access to community parking along the side of the building, plus dedicated parking in front.
Additional exterior improvements include fully landscaped grounds with concrete curbing, irrigation, and drip lines, along with an included security system. The property’s layout combines administrative space with a functional, garage-access shop/storage area.
The shop/storage area is designed for practical use with epoxy floors, a 12 x 14 ft overhead garage door, a floor drain, a walk-in mechanical room, and a utility sink. The property sits on a corner lot with direct access to community parking along the side of the building, plus dedicated parking in front.
Additional exterior improvements include fully landscaped grounds with concrete curbing, irrigation, and drip lines, along with an included security system. The property’s layout combines administrative space with a functional, garage-access shop/storage area.
Key Highlights
- 2,400 sq ft shop condo built in 2023, offering an expansive 1,200 sq ft shop/storage area
- Finished office area includes two private offices, a waiting room, a bathroom, and separate heat and A/C
- Kitchen with custom cabinetry and backsplash, located off a stamped concrete patio
Local Financial Insights For Office B
Simulate Cap Rate and NOI
NOI Build-Up
- 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.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $44.6k | $18.60 |
| − Vacancy | −$7.1k | −$2.98 |
| EGI | $37.5k | $15.62 |
| − OpEx | −$9.4k | −$3.91 |
| NOI | $28.1k | $11.72 |
2,400 SF · lease $18.60/SF/yr · vacancy 16.00% · expense 25.00%
Alternative Uses
Best Use
Office B
$401.8K
$351.5K – $468.7K
NOI $28,123 @ 7.0% cap · market cap 4.69%
Second Best
Warehouse
$302.2K
$264.4K – $352.5K
NOI $21,151 @ 7.0% cap · market cap 3.53%
Theoretical Best
Office A
$520.6K
$455.6K – $607.4K
NOI $36,444 @ 7.0% cap · market cap 6.08%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Location Intelligence
Current Use by Public Records
Raising Hope LLC
Crisis Center
Similar For Sale Nearby
FAQs
What type of property is this?
Flex space - Move-in ready shop condo with a finished office area, enclosed patio, and a 12x14 overhead garage door.
Where is this flex space located?
The property is located at 2971 Thunder Road S Fargo, ND.
What is the asking price?
The asking price for this property is $599,900.
What are key features of this property?
This property features: 2,400 sq ft shop condo built in 2023, offering an expansive 1,200 sq ft shop/storage area; Finished office area includes two private offices, a waiting room, a bathroom, and separate heat and A/C; Kitchen with custom cabinetry and backsplash, located off a stamped concrete patio
