North Fargo Shop Condo For
For Sale
Contact for pricing
Pending
4102 14th Ave N, Fargo, ND 58102
Shop condo with office space, mezzanine, and overhead door.
Property Size1,920 SF
Days on Market196
Property Features for 4102 14th Ave N
General Information
Standard status
Pending
Size
1,920 SF
Property subtype
Industrial, Office, Special Purpose
Building Details
Year Built
2015
Units
1
Listing Agency:
KW Commercial Fargo-Moorhead
Listed By:
Jason Harmon · License #ND
Source:
Crexi
Added: Jan 29
Changed: Aug 8
Last Checked: Jul 24 at 12:46PM
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 KW Commercial Fargo-Moorhead
Investment Insights
Based on property information with market context.
This North Fargo shop condo for sale features 1,384 square feet of shop space and 536 square feet of office space. The office area includes two offices, a reception area, and a bathroom. A mezzanine provides additional storage or office space. The property also includes a 14-foot overhead door and extra parking on the south side of the unit. The total property size is 1,920 square feet.
Key Highlights
- 1,384 sqft of shop space and 536 sqft of office space
- Includes 2 offices, reception area, and bathroom
- Features a 14 foot overhead door
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
$16,921
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
5.46%
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%
$338,420
$338.4K
Cap Rate 7%
$241,729
$241.7K
Cap Rate 9%
$188,011
$188.0K
Market Conditions
NOI Build-Up for 1,920 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
$20.7K $10.80/SF
− Vacancy
−$829 −$0.43/SF
EGI
$19.9K $10.37/SF
− OpEx
−$3.0K −$1.56/SF
NOI
$16.9K $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 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%
$338,420
Cap Rate 7%
$241,729
Cap Rate 9%
$188,011
Alternative Uses
Best Use
Warehouse
$241.7K
$211.5K – $282.0K
NOI $16,921 @ 7.0% cap · market cap 5.46%
Second Best
Flex RnD
$221.2K
$193.6K – $258.1K
NOI $15,485 @ 7.0% cap · market cap 5.00%
Theoretical Best
Office A
$416.5K
$364.4K – $485.9K
NOI $29,155 @ 7.0% cap · market cap 9.40%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
635
Businesses Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Demographics for 58102, ND
30,767
Population
16,757
Households
1.8
Avg Household Size
32
Median Age
45%
College-Educated
95%
High-School Grad
31.6 sq mi
ZIP Area
974
Density / Sq Mi
$56,028
Median Household Income
$31,939
Median Earnings
$829
Median Rent
$235,600
Median Home Value
Market
Vacancy Rate% for Industrial in Midwest region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Flex space - Shop condo with office space, mezzanine, and overhead door.
Where is this flex space located?
The property is located at 4102 14th Ave N Fargo, ND.
What is the asking price?
The asking price for this property is $310,000.
What are key features of this property?
This property features: 1,384 sqft of shop space and 536 sqft of office space; Includes **2 offices, reception area, and bathroom**; Features a **14 foot overhead door**
