Flex Building with Office and
3918 37th Avenue South, Fargo, ND 58104
For Sale
Contact for pricing
Office and warehouse areas are integrated within a single facility, with outdoor storage and truck circulation on site.
Property Size22,500 SF
Lot Size5.05 Acres
Price / SF$222.22
Days on Market14
Property Features for 3918 37th Avenue South
General Information
Standard status
Size
Class
Lot size
Property subtype
Site & Location
Neighborhood
Outdoor Storage
Warehouse & Industrial
Warehouse Space
Office Build-Out
Additional Details
Property Use
Building Details
Year Built
Building Size
Listing Agency:
Aspire Realty
Listed By:
Katherine Kiernan · License ND #8916
(701) 306-8303
Source:
Crexi
Added: Oct 28
Changed: Nov 8
Last Checked: Nov 8 at 4:47PM
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 Aspire Realty
Ask AI about this property
Review the available facts, identify missing information and prepare questions for the agent.
Investment Insights
Based on property information with market context.
Completed in 2015, this flex property contains approximately 22,500 square feet across 4,500 square feet of finished office space and 18,000 square feet of warehouse area. The office and warehouse components are connected within one facility. The site encompasses approximately 5.05 acres and includes outdoor storage and space for truck circulation.
Located at 3918 37th Avenue South in Fargo, North Dakota, the property also has on-site parking.
Located at 3918 37th Avenue South in Fargo, North Dakota, the property also has on-site parking.
Key Highlights
- Approximately 22,500 square feet of improvements on ±5.05 acres
- 4,500 square feet of finished office space and 18,000 square feet of warehouse space
- Constructed in 2015
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$198,288
Cap Rate
3.97%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$3,965,760
$4.0M
Cap Rate 7%
$2,832,686
$2.8M
Cap Rate 9%
$2,203,200
$2.2M
Market Conditions
NOI Build-Up for 22,500 SF
Gross rent
$243.0K $10.80/SF
− Vacancy
−$9.7K −$0.43/SF
EGI
$233.3K $10.37/SF
− OpEx
−$35.0K −$1.56/SF
NOI
$198.3K $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%
$3,965,760
Cap Rate 7%
$2,832,686
Cap Rate 9%
$2,203,200
Alternative Uses
Best Use
Warehouse
$2.83M
$2.48M – $3.30M
NOI $198,288 @ 7.0% cap · market cap 3.97%
Second Best
Flex RnD
$2.59M
$2.27M – $3.02M
NOI $181,467 @ 7.0% cap · market cap 3.63%
Theoretical Best
Office A
$4.88M
$4.27M – $5.69M
NOI $341,658 @ 7.0% cap · market cap 6.83%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
375
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
Properties on Market for Flex space in Fargo
Vacancy Rate% for Industrial in Midwest region
Frequently Asked Questions
What type of property is this?
Flex space - Office and warehouse areas are integrated within a single facility, with outdoor storage and truck circulation on site.
Where is this flex space located?
The property is located at 3918 37th Avenue South Fargo, ND.
What is the asking price?
The asking price for this property is $5,000,000.
What are key features of this property?
This property features: Approximately 22,500 square feet of improvements on ±5.05 acres; 4,500 square feet of finished office space and 18,000 square feet of warehouse space; Constructed in 2015
