Flex Building with Jib
For Sale
$1,200,000
4248 1st St Sw, Dickinson, ND 58601
Multiuse commercial building with overhead access, workspace amenities, and an office component.
Property Size15,000 SF
Price / SF$80
Days on Market31
Property Features for 4248 1st St Sw
General Information
Standard status
Active
Size
15,000 SF
Taxes and HOA fees
Annual Taxes
$4,159
Amenities
break room
wash bay
Building Details
Buildings
1
Building Size
15,000 SF
Construction
steel frame
Listing Agency:
The Real Estate Company
Listed By:
Tracey Hoff · License #6012
(701) 483-0111
Source:
Exprealty
Added: Aug 27
Changed: Sep 21
Last Checked: Sep 24 at 3:29PM
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 The Real Estate Company
Investment Insights
Based on property information with market context.
This 15,000-square-foot steel-frame flex building includes four 12-foot by 16-foot overhead doors, a 5-ton jib crane, and a dedicated wash bay. The layout also provides an office area, break room, and three bathrooms, supporting a range of commercial and industrial operations.
The property is west of Dickinson, North Dakota, near a truck bypass. Its combination of large-bay access, lifting equipment, wash facilities, and support areas creates a practical setup for users needing both functional work space and administrative amenities.
The property is west of Dickinson, North Dakota, near a truck bypass. Its combination of large-bay access, lifting equipment, wash facilities, and support areas creates a practical setup for users needing both functional work space and administrative amenities.
Key Highlights
- 15,000‑square‑foot steel‑frame building
- Four 12‑foot by 16‑foot overhead doors
- 5‑ton jib crane
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
$107,865
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
8.99%
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%
$2,157,300
$2.2M
Cap Rate 7%
$1,540,929
$1.5M
Cap Rate 9%
$1,198,500
$1.2M
Market Conditions
NOI Build-Up for 15,000 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
$135.0K $9.00/SF
− Vacancy
−$8.1K −$0.54/SF
EGI
$126.9K $8.46/SF
− OpEx
−$19.0K −$1.27/SF
NOI
$107.9K $7.19/SF
Area
Stark County, ND
Vacancy
6.00%
Lease Rate
$9.00 /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%
$2,157,300
Cap Rate 7%
$1,540,929
Cap Rate 9%
$1,198,500
Alternative Uses
Best Use
Flex RnD
$2.26M
$1.97M – $2.63M
NOI $157,950 @ 7.0% cap · market cap 13.16%
Second Best
Warehouse
$1.54M
$1.35M – $1.80M
NOI $107,865 @ 7.0% cap · market cap 8.99%
Theoretical Best
Multifamily LT 5
$11.90M
$10.41M – $13.88M
NOI $832,758 @ 7.0% cap · market cap 69.40%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
56
Businesses Nearby
Well-served
Demand for This Use
Explore this area
Business Placement
Demographics for 58601, ND
29,697
Population
13,619
Households
2.2
Avg Household Size
34
Median Age
28%
College-Educated
91%
High-School Grad
570.6 sq mi
ZIP Area
52
Density / Sq Mi
$81,008
Median Household Income
$49,085
Median Earnings
$968
Median Rent
$269,200
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
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Flex space - Multiuse commercial building with overhead access, workspace amenities, and an office component.
Where is this flex space located?
The property is located at 4248 1st St Sw Dickinson, ND.
What is the asking price?
The asking price for this property is $1,200,000.
What are key features of this property?
This property features: 15,000‑square‑foot steel‑frame building; Four 12‑foot by 16‑foot overhead doors; 5‑ton jib crane
