Flex Space with Climate-Controlled
New
For Sale
Contact for pricing
349 11th St W, West Fargo, ND 58078
Office and shop configuration supports contractor, light industrial, service, or showroom operations.
Property Size5,000 SF
Price / SF$126
Days on Market4
Property Features for 349 11th St W
General Information
Standard status
Active
Size
5,000 SF
Property subtype
INDUSTRIAL
Additional Details
Conditioned Warehouse
Yes
Listing Agency:
Horizon Real Estate Group
(701) 793-0653
Listed By:
Brian Tulibaski, MBA
Source:
Moodyscre
Added: Aug 19
Changed: Aug 22
Last Checked: Aug 22 at 7:01AM
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 Horizon Real Estate Group
Investment Insights
Based on property information with market context.
This 5,000-square-foot flex property combines finished office space with a climate-controlled shop. The shop area measures 3,700 square feet and includes air conditioning, in-floor heat, two overhead doors, and 18-foot side walls. The front office component totals 1,300 square feet and includes a reception area, three private offices, two restrooms, and a kitchenette. A separate 1,100-square-foot conference room adds substantial meeting and collaboration space.
Located at 349 11th St W in West Fargo, North Dakota, the property offers a practical combination of administrative, shop, and conference areas within one facility. The configuration is suited to contractor, light industrial, service, and showroom users.
Located at 349 11th St W in West Fargo, North Dakota, the property offers a practical combination of administrative, shop, and conference areas within one facility. The configuration is suited to contractor, light industrial, service, and showroom users.
Key Highlights
- 3,700‑square‑foot climate‑controlled shop with AC and in‑floor heat
- Two overhead doors and 18' side walls
- 1,300 square feet of front office space
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
$43,056
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
6.83%
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%
$861,120
$861.1K
Cap Rate 7%
$615,086
$615.1K
Cap Rate 9%
$478,400
$478.4K
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
$72.0K $14.40/SF
− Vacancy
−$5.8K −$1.15/SF
EGI
$66.2K $13.25/SF
− OpEx
−$23.2K −$4.64/SF
NOI
$43.1K $8.61/SF
Area
Cass County, ND
Vacancy
8.00%
Lease Rate
$14.40 /SF/Yr
Expense Ratio
35.00%
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%
$861,120
Cap Rate 7%
$615,086
Cap Rate 9%
$478,400
Alternative Uses
Best Use
Flex RnD
$615.1K
$538.2K – $717.6K
NOI $43,056 @ 7.0% cap · market cap 6.83%
Second Best
Warehouse
$508.2K
$444.7K – $592.9K
NOI $35,573 @ 7.0% cap · market cap 5.65%
Theoretical Best
Specialty Retail
$923.8K
$808.3K – $1.08M
NOI $64,665 @ 7.0% cap · market cap 10.26%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
205
Businesses Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Demographics for 58078, ND
39,161
Population
16,416
Households
2.4
Avg Household Size
34
Median Age
45%
College-Educated
97%
High-School Grad
39.8 sq mi
ZIP Area
984
Density / Sq Mi
$97,206
Median Household Income
$51,208
Median Earnings
$1,073
Median Rent
$303,200
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 - Office and shop configuration supports contractor, light industrial, service, or showroom operations.
Where is this flex space located?
The property is located at 349 11th St W West Fargo, ND.
What is the asking price?
The asking price for this property is $630,000.
What are key features of this property?
This property features: 3,700‑square‑foot climate‑controlled shop with AC and in‑floor heat; Two overhead doors and 18' side walls; 1,300 square feet of front office space
