Office Condo
For Sale
$449,900
3901 51 Street, Fargo, ND 58104
For sale office condo development with 18 units, designed for professional ownership in southside Fargo.
Property Size1,380 SF
Price / SF$326.01
Days on Market337
Property Features for 3901 51 Street
General Information
Standard status
Active
Size
1,380 SF
Property subtype
General Commercial
Additional Details
Office Units
18
Amenities
Central Air
3
Shared Driveway.
Building Details
Year Built
2026
Stories
1
Listing Agency:
Trilogy Real Estate
(701) 361-5948
Listed By:
Trilogy Real Estate
(701) 361-5948
Source:
Xome
Added: Sep 19, 2025
Changed: Aug 12
Last Checked: Aug 21 at 5:10AM
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 Trilogy Real Estate
Investment Insights
Based on property information with market context.
Brookview Office Condos is a for-sale office condo development featuring 18 office units with a modern, flexible design intended to support business ownership. The property is listed at 1,380 (per the provided property information) and is presented as a turnkey-style setup for professionals seeking to own their space.
The building is located in southside Fargo at 3901 S 51 Street S, Fargo, ND 58104. It is offered as a collection of individual office units within one development, giving buyers the option to acquire an office condo as their workplace while remaining within a shared property structure.
The building is located in southside Fargo at 3901 S 51 Street S, Fargo, ND 58104. It is offered as a collection of individual office units within one development, giving buyers the option to acquire an office condo as their workplace while remaining within a shared property structure.
Key Highlights
- Brookview Office Condos office condo development in southside Fargo along 40th Ave S
- Planned for 18 office units
- Year built: 2026
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
$16,171
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
3.59%
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%
$323,420
$323.4K
Cap Rate 7%
$231,014
$231.0K
Cap Rate 9%
$179,678
$179.7K
Market Conditions
NOI Build-Up for 1,380 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
$25.7K $18.60/SF
− Vacancy
−$4.1K −$2.98/SF
EGI
$21.6K $15.62/SF
− OpEx
−$5.4K −$3.91/SF
NOI
$16.2K $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%
$323,420
Cap Rate 7%
$231,014
Cap Rate 9%
$179,678
Alternative Uses
Best Use
Office B
$231.0K
$202.1K – $269.5K
NOI $16,171 @ 7.0% cap · market cap 3.59%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$299.4K
$261.9K – $349.3K
NOI $20,955 @ 7.0% cap · market cap 4.66%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
18
Office units
Location Intelligence
Trade Area within ½ mile
440
Businesses Nearby
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?
Office units - For sale office condo development with 18 units, designed for professional ownership in southside Fargo.
Where is this office units located?
The property is located at 3901 51 Street Fargo, ND.
What is the asking price?
The asking price for this property is $449,900.
What are key features of this property?
This property features: Brookview Office Condos office condo development in southside Fargo along 40th Ave S; Planned for 18 office units; Year built: 2026
