Flex Space with Shop
For Sale
Under Contract
$586,900
2971 Thunder Road S, Fargo, ND 58104
Commercial Sale, Fargo, ND
Property Size2,400 SF
Lot Size0.15 Acres
Price / SF$244.54
Days on Market223
Property Features for 2971 Thunder Road S
General Information
Property type
Commercial Sale
Property subtype
Office
Zoning description
Business/Commercial
Parking features
Garage, Parking Lot
Patio and Porch features
Patio
Accessibility
Accessible Approach with Ramp
Subdivision
Thunder Road Condominiums
Lot features
Corner Lot
Directions
Take 32nd Ave. S. to 39th St. and take a right. Take a right on 30th Ave. Building will be on your right, on the corner.
Standard status
Active Under Contract
APN
01842500020011
Lot size
0.15 Acres
Taxes and HOA fees
Tax Year
2025
Tax Annual Amount
8076
Utilities
Cooling system
Ductless
Amenities
security system
Building Details
Year built
2023
Listing Agency:
REALTY XPERTS
(701) 356-5300
Listed By:
Sarah Claeys
(701) 552-1410
Added: Mar 5
Changed: Oct 10
Last Checked: Oct 14 at 10:06PM
MLS# 7029674
Copyright © 2026 Northstar MLS. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
This flex space combines a finished office area with a 1,200-square-foot shop and storage area. The office includes two private offices, a waiting room, a bathroom, and a kitchen; separate heating and air conditioning serve this portion of the property. The shop features epoxy flooring, a floor drain, a utility sink, a mechanical room, and a 12-by-14-foot overhead door. A stamped-concrete patio is enclosed by hurricane fencing.
The 2023-built property sits on a 0.15-acre corner lot near I-29 and 32nd Avenue. Dedicated parking is located in front, with access to community parking along the building’s side. Exterior features include landscaping, concrete curbing, irrigation, and drip lines. A security system and ramp-accessible approach are also included.
The 2023-built property sits on a 0.15-acre corner lot near I-29 and 32nd Avenue. Dedicated parking is located in front, with access to community parking along the building’s side. Exterior features include landscaping, concrete curbing, irrigation, and drip lines. A security system and ramp-accessible approach are also included.
Key Highlights
- 1,200‑square‑foot shop and storage area
- Shop includes a 12 x 14 ft overhead garage door, floor drain, utility sink, and mechanical room
- Office area has two private offices, a waiting room, bathroom, and kitchen
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$21,151
Cap Rate
3.60%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$423,020
$423.0K
Cap Rate 7%
$302,157
$302.2K
Cap Rate 9%
$235,011
$235.0K
Market Conditions
NOI Build-Up for 2,400 SF
Gross rent
$25.9K $10.80/SF
− Vacancy
−$1.0K −$0.43/SF
EGI
$24.9K $10.37/SF
− OpEx
−$3.7K −$1.56/SF
NOI
$21.2K $8.81/SF
Area
Fargo, ND
Vacancy
4.00%
Lease Rate
$10.80 /SF/Yr
Expense Ratio
15.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$423,020
Cap Rate 7%
$302,157
Cap Rate 9%
$235,011
Alternative Uses
Best Use
Warehouse
$302.2K
$264.4K – $352.5K
NOI $21,151 @ 7.0% cap · market cap 3.60%
Second Best
Flex RnD
$276.5K
$242.0K – $322.6K
NOI $19,356 @ 7.0% cap · market cap 3.30%
Theoretical Best
Office A
$520.6K
$455.6K – $607.4K
NOI $36,444 @ 7.0% cap · market cap 6.21%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
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Current Use
Lease Details
1
Drive-in doors
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
473
Businesses Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Demographics for 58104, ND
48,150
Population
21,847
Households
2.2
Avg Household Size
32
Median Age
49%
College-Educated
98%
High-School Grad
28.0 sq mi
ZIP Area
1,720
Density / Sq Mi
$85,014
Median Household Income
$51,148
Median Earnings
$1,087
Median Rent
$346,100
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Industrial in Midwest region
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Frequently Asked Questions
What type of property is this?
Flex space - Separate office and work areas pair with a private patio and dedicated parking.
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 $586,900.
What are key features of this property?
This property features: 1,200‑square‑foot shop and storage area; Shop includes a 12 x 14 ft overhead garage door, floor drain, utility sink, and mechanical room; Office area has two private offices, a waiting room, bathroom, and kitchen
