Flex Space with Overhead
For Sale
$590,000
36 NE 3rd St, Minot, ND 58703
COMMERCIAL/INDUSTRIAL, Minot, ND
Property Size7,200 SF
Price / SF$81.94
Days on Market140
Property Features for 36 NE 3rd St
General Information
Property type
Commercial Sale
Property subtype
Other
Zoning
M2
Directions
Located just to the south of 3rd street bridge.
Subdivision
NE
Standard status
Active
APN
MI24.313.020.0182
Size
7,200 SF
Taxes and HOA fees
Tax Year
2024
Tax Annual Amount
10800
Building Details
Year built
1947
Listing Agency:
Better Homes and Gardens Real Estate Watne Group
(701) 852-1156
Listed By:
Joshua Skjoldal
(701) 720-3290
Added: May 28
Changed: Sep 29
Last Checked: Oct 14 at 8:06PM
MLS# 251567
Copyright © 2026 Minot Board of REALTORS. 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 M2-zoned flex property provides 7,200 square feet above ground, with additional basement space suited to storage or expansion. The building combines office and retail areas with a shop component, creating a varied commercial layout. Shop access includes three 12' x 14' overhead doors and one 10' x 10' overhead door.
Located at 36 NE 3rd St in downtown Minot, the property offers access to major roads and includes a basement that can support additional storage or future expansion. Built in 1947, the building accommodates businesses requiring a combination of customer-facing, administrative, and shop areas.
Located at 36 NE 3rd St in downtown Minot, the property offers access to major roads and includes a basement that can support additional storage or future expansion. Built in 1947, the building accommodates businesses requiring a combination of customer-facing, administrative, and shop areas.
Key Highlights
- 7,200 square feet above ground with additional basement area
- M2 zoning
- Office, retail, and shop areas in one building
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$44,013
Cap Rate
7.46%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$880,260
$880.3K
Cap Rate 7%
$628,757
$628.8K
Cap Rate 9%
$489,033
$489.0K
Market Conditions
NOI Build-Up for 7,200 SF
Gross rent
$56.2K $7.80/SF
− Vacancy
−$4.4K −$0.61/SF
EGI
$51.8K $7.19/SF
− OpEx
−$7.8K −$1.08/SF
NOI
$44.0K $6.11/SF
Area
Ward County, ND
Vacancy
7.80%
Lease Rate
$7.80 /SF/Yr
Expense Ratio
15.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$880,260
Cap Rate 7%
$628,757
Cap Rate 9%
$489,033
Alternative Uses
Best Use
Warehouse
$628.8K
$550.2K – $733.6K
NOI $44,013 @ 7.0% cap · market cap 7.46%
Second Best
Industrial
$517.8K
$453.1K – $604.1K
NOI $36,246 @ 7.0% cap · market cap 6.14%
Theoretical Best
Office A
$966.7K
$845.9K – $1.13M
NOI $67,668 @ 7.0% cap · market cap 11.47%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
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Current Use
Location Intelligence
Trade Area within ½ mile
1,662
Businesses Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Demographics for 58703, ND
23,341
Population
10,643
Households
2.2
Avg Household Size
31
Median Age
34%
College-Educated
95%
High-School Grad
156.2 sq mi
ZIP Area
149
Density / Sq Mi
$82,926
Median Household Income
$48,355
Median Earnings
$1,030
Median Rent
$254,800
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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Similar Off Market Nearby
- MSI Minot — 400 10th St SE, Minot, ND 58701
Frequently Asked Questions
What type of property is this?
Flex space - M2-zoned commercial building combining office, retail, shop, and basement storage or expansion space.
Where is this flex space located?
The property is located at 36 NE 3rd St Minot, ND.
What is the asking price?
The asking price for this property is $590,000.
What are key features of this property?
This property features: 7,200 square feet above ground with additional basement area; M2 zoning; Office, retail, and shop areas in one building
