Flex Space with Shop
For Sale
$586,900
Pending
2971 Thunder Road S, Fargo, ND 58104
A separate office suite, full kitchen, enclosed patio, and dedicated parking complement the functional shop and storage area.
Property Size2,400 SF
Days on Market11
Property Features for 2971 Thunder Road S
General Information
Standard status
Pending
Size
2,400 SF
Property subtype
Commercial
Zoning
Business/Commercial
Site & Location
Neighborhood
Anderson Park Neighborhood
Highway Access
Yes
Additional Details
Warehouse Space
1,200 SF
Taxes and HOA fees
Annual Taxes
$8,075
Amenities
Full Kitchen
Enclosed Patio
Security System
Building Details
Building Size
2,400 SF
Year Built
2023
Units
1
Listing Agency:
REALTY XPERTS
Listed By:
Sara Worwa
(651) 278-7326
Source:
Getyoumoved
Added: Oct 22
Changed: Oct 25
Last Checked: Oct 29 at 11:13PM
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
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Investment Insights
Based on property information with market context.
Built in 2023, this 2,400-square-foot flex condominium pairs finished office space with a 1,200-square-foot shop and storage area. The office portion has two private offices, a waiting room, a bathroom, and its own heating and air conditioning. A full kitchen with custom cabinetry sits near the enclosed stamped-concrete patio. In the shop, features include epoxy flooring, a 12 x 14 ft overhead door, a floor drain, a utility sink, and a walk-in mechanical room.
The property is on a corner lot just off I-29 and 32nd Ave. Parking is available in front of the building, with community parking along the side. Business/Commercial zoning, a security system, and landscaped grounds with irrigation and drip lines round out the property’s features.
The property is on a corner lot just off I-29 and 32nd Ave. Parking is available in front of the building, with community parking along the side. Business/Commercial zoning, a security system, and landscaped grounds with irrigation and drip lines round out the property’s features.
Key Highlights
- 2,400‑square‑foot flex condominium built in 2023
- 1,200‑square‑foot shop and storage area
- Shop includes a 12 x 14 ft overhead door, floor drain, utility sink, and walk‑in mechanical room
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.
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Property Analytics
Who owns this building?
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Open Analytics
Current Use
Lease Details
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
473
Businesses Nearby
Under-served
Demand for This Use
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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
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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 separate office suite, full kitchen, enclosed patio, and dedicated parking complement the functional shop and storage area.
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: 2,400‑square‑foot flex condominium built in 2023; 1,200‑square‑foot shop and storage area; Shop includes a 12 x 14 ft overhead door, floor drain, utility sink, and walk‑in mechanical room
