Office Suite in New
For Sale
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3953 51st St S, Fargo, ND 58104
Brookview Offices offers a new office suite at 51st St S with customizable layouts and finishes.
Property Size1,380 SF
Price / SF$336.88
Days on Market167
Property Features for 3953 51st St S
General Information
Standard status
Active
Size
1,380 SF
Class
A
Property subtype
Office
Zoning
office retail
Building Details
Year Built
2026
Buildings
1
Units
1
Listing Agency:
Trillogy Real Estate
Listed By:
Brian Kounovsky · License #7221
Source:
Crexi
Added: Mar 25
Changed: Sep 4
Last Checked: Sep 7 at 11:44AM
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 Trillogy Real Estate
Investment Insights
Based on property information with market context.
Brookview Offices is a new development offering office suites designed for growing businesses. The space is available to own or lease and is intended to support customizable layouts and finishes that can be tailored to a tenant or buyer’s brand.
The property is located at 3953 51st St S in Fargo, within the Brookview development at the intersection of 40th Ave and 51st St S.
As part of this new office project, the suite configuration and finishes are presented as customizable, making it suitable for those looking to shape an office environment to their needs.
The property is located at 3953 51st St S in Fargo, within the Brookview development at the intersection of 40th Ave and 51st St S.
As part of this new office project, the suite configuration and finishes are presented as customizable, making it suitable for those looking to shape an office environment to their needs.
Key Highlights
- New office development (Year Built: 2026) at Brookview Offices
- Located at 40th Ave and 51st St S in Fargo
- Offers flexibility to own or lease 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
$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
3.48%
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 3.48%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$299.4K
$261.9K – $349.3K
NOI $20,955 @ 7.0% cap · market cap 4.51%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
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 - Brookview Offices offers a new office suite at 51st St S with customizable layouts and finishes.
Where is this office units located?
The property is located at 3953 51st St S Fargo, ND.
What is the asking price?
The asking price for this property is $464,900.
What are key features of this property?
This property features: New office development (Year Built: 2026) at Brookview Offices; Located at 40th Ave and 51st St S in Fargo; Offers flexibility to own or lease office space
