Flex Space with In-Floor
For Sale
$685,000
3320 39th Street, Fargo, ND 58104
Flex property includes three finished offices, two oversized bathrooms, in-floor heating, ductless AC, and an air exchange system.
Property Size5,000 SF
Price / SF$137
Days on Market194
Property Features for 3320 39th Street
General Information
Standard status
Active
Size
5,000 SF
Property subtype
General Commercial
Additional Details
Business Included
Yes
Office Units
3
Taxes and HOA fees
Annual Taxes
$9,493
Amenities
3
Parking.
Lot.
Building Details
Year Built
2019
Listing Agency:
eXp Realty (3788 FGO)
(701) 354-2725
Listed By:
Derek Brandenburg
(701) 354-2725
Source:
Xome
Added: Jan 29
Changed: Aug 7
Last Checked: Aug 11 at 5:05AM
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 eXp Realty (3788 FGO)
Investment Insights
Based on property information with market context.
This flex space is set up for an operator who needs both office space and a larger shop area. The layout includes three finished offices, designed to accommodate up to eight employees, along with two oversized bathrooms, one featuring a shower. The property also has an in-floor heating system to serve the shop area, ductless AC for cooling, and a complete air exchange system.
The offering is listed for sale at 3320 39th Street S, Fargo, ND. Additional details about the remainder of the shop configuration are not provided in the available materials.
If you’d like, I can help draft a targeted tenant/owner use description based on any additional plans or shop dimensions you may have.
The offering is listed for sale at 3320 39th Street S, Fargo, ND. Additional details about the remainder of the shop configuration are not provided in the available materials.
If you’d like, I can help draft a targeted tenant/owner use description based on any additional plans or shop dimensions you may have.
Key Highlights
- Flex property built in 2019 with three finished offices for a comfortable workspace
- Designed for up to 8 employees with guest facilities noted as 3
- Includes two oversized bathrooms, with one bathroom containing a shower
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
$58,590
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
8.55%
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%
$1,171,800
$1.2M
Cap Rate 7%
$837,000
$837.0K
Cap Rate 9%
$651,000
$651.0K
Market Conditions
NOI Build-Up for 5,000 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
$93.0K $18.60/SF
− Vacancy
−$14.9K −$2.98/SF
EGI
$78.1K $15.62/SF
− OpEx
−$19.5K −$3.91/SF
NOI
$58.6K $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%
$1,171,800
Cap Rate 7%
$837,000
Cap Rate 9%
$651,000
Alternative Uses
Best Use
Office B
$837.0K
$732.4K – $976.5K
NOI $58,590 @ 7.0% cap · market cap 8.55%
Second Best
Flex RnD
$576.1K
$504.1K – $672.1K
NOI $40,326 @ 7.0% cap · market cap 5.89%
Theoretical Best
Office A
$1.08M
$949.1K – $1.27M
NOI $75,924 @ 7.0% cap · market cap 11.08%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
3
Office units
Turnkey business
Opportunity
Location Intelligence
Trade Area within ½ mile
544
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
Market
Vacancy Rate% for Office in Midwest region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Flex space - Flex property includes three finished offices, two oversized bathrooms, in-floor heating, ductless AC, and an air exchange system.
Where is this flex space located?
The property is located at 3320 39th Street Fargo, ND.
What is the asking price?
The asking price for this property is $685,000.
What are key features of this property?
This property features: Flex property built in 2019 with three finished offices for a comfortable workspace; Designed for up to 8 employees with guest facilities noted as 3; Includes two oversized bathrooms, with one bathroom containing a shower
