Class A Flex Building
For Sale
Contact for pricing
4171 24th Avenue N, Fargo, ND 58102
Class A industrial flex building with office, warehouse, manufacturing space.
Property Size194,637 SF
Price / SF$153.88
Days on Market747
Property Features for 4171 24th Avenue N
General Information
Standard status
Active
Size
194,637 SF
Class
A
Total Parking Spaces
208
Property subtype
Industrial
Zoning
Limited Industrial (LI)
Building Details
Year Built
2020
Listing Agency:
Goldmark Commercial Real Estate Inc
Listed By:
Andy Westby · License #ND 9120
(701) 235-2920
Source:
Crexi
Added: Oct 3, 2024
Changed: Oct 4
Last Checked: Oct 19 at 6:09AM
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 Goldmark Commercial Real Estate Inc
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Investment Insights
Based on property information with market context.
This Class A flex building, constructed in 2021, is located in North Fargo's industrial corridor. The property includes over 20,000 square feet of Class A office space spread across two floors, featuring a modern design with high-end finishes, open floor plans, multiple offices and conference rooms, and a mother's room. The 96,000+ square foot warehouse/distribution space has 12 dock doors, 30-foot sidewalls, LED lighting, and 7-inch reinforced concrete floors, along with a small warehouse office. The 40,000+ square foot manufacturing space, connected to the warehouse, features 25 to 31-foot high ceilings, two drive-in doors, and 8-inch reinforced concrete floors. A 5,000 square foot showroom accessible from the front entrance includes floor-to-ceiling glass. The property also contains a large, fully equipped cafeteria, a gym with seven private showers, a half-court basketball court, and four EV car charging stations. Located less than one mile from I-29, the property offers access to major highways. This industrial complex is designed to accommodate a range of businesses with advanced infrastructure and modern amenities.
Key Highlights
- Class A flex building: 20k+ SF of office, 96k+ SF warehouse, and 40k+ SF manufacturing space.
- Prime location in N. Fargo's industrial corridor with easy access to I‑29.
- Built in 2021, offering modern design and advanced infrastructure.
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$1,569,786
Cap Rate
5.24%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$31,395,720
$31.4M
Cap Rate 7%
$22,425,514
$22.4M
Cap Rate 9%
$17,442,067
$17.4M
Market Conditions
NOI Build-Up for 194,637 SF
Gross rent
$2.57M $13.20/SF
− Vacancy
−$154.2K −$0.79/SF
EGI
$2.42M $12.41/SF
− OpEx
−$845.3K −$4.34/SF
NOI
$1.57M $8.07/SF
Area
Fargo, ND
Vacancy
6.00%
Lease Rate
$13.20 /SF/Yr
Expense Ratio
35.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$31,395,720
Cap Rate 7%
$22,425,514
Cap Rate 9%
$17,442,067
Alternative Uses
Best Use
Flex RnD
$22.43M
$19.62M – $26.16M
NOI $1,569,786 @ 7.0% cap · market cap 5.24%
Second Best
Industrial
$18.96M
$16.59M – $22.12M
NOI $1,327,171 @ 7.0% cap · market cap 4.43%
Theoretical Best
Office A
$42.22M
$36.94M – $49.26M
NOI $2,955,524 @ 7.0% cap · market cap 9.87%
Zoning and permitted uses should be independently verified with authorities.
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Property Analytics
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Open Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
44
Businesses Nearby
Well-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
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
Frequently Asked Questions
What type of property is this?
Flex space - Class A industrial flex building with office, warehouse, manufacturing space.
Where is this flex space located?
The property is located at 4171 24th Avenue N Fargo, ND.
What is the asking price?
The asking price for this property is $29,950,000.
What are key features of this property?
This property features: Class A flex building: 20k+ SF of office, 96k+ SF warehouse, and 40k+ SF manufacturing space.; Prime location in N. Fargo's industrial corridor with easy access to I‑29.; Built in 2021, offering modern design and advanced infrastructure.
