Commercial Shop For
For Sale
Contact for pricing
428 29th Ct NW, West Fargo, ND 58078
Pre-sale commercial shop space, versatile for business or storage.
Property Size1,848 SF
Price / SF$125
Days on Market196
Property Features for 428 29th Ct NW
General Information
Standard status
Active
Size
1,848 SF
Class
A
Property subtype
Industrial, Self Storage
Zoning
Light industrial
Building Details
Year Built
2026
Units
1
Listing Agency:
Uptown Real Estate
(701) 388-6015
Listed By:
Samantha Johnston · License #40928898
Source:
Crexi
Added: Feb 6
Changed: Aug 8
Last Checked: Aug 19 at 10:27PM
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 Uptown Real Estate
Investment Insights
Based on property information with market context.
A commercial shop space is available for pre-sale, scheduled for completion in 2026. The property offers 1848 square feet of space, with dimensions of 28 feet by 66 feet. The space is designed to accommodate a variety of uses, including business, storage, or workshop applications. Prospective buyers have the opportunity to secure their space early and customize it to suit their specific requirements. Units can be combined up to 138 feet by 66 feet.
Key Highlights
- Pre‑Sale Opportunity: Secure a commercial shop space before completion in 2026.
- Customizable Space: Ability to customize the shop to fit specific business or storage needs.
- Versatile Use: Suitable for business, storage, or workshop purposes.
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
$14,281
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
6.18%
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%
$285,620
$285.6K
Cap Rate 7%
$204,014
$204.0K
Cap Rate 9%
$158,678
$158.7K
Market Conditions
NOI Build-Up for 1,848 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
$22.2K $12.00/SF
− Vacancy
−$1.8K −$0.96/SF
EGI
$20.4K $11.04/SF
− OpEx
−$6.1K −$3.31/SF
NOI
$14.3K $7.73/SF
Area
Cass County, ND
Vacancy
8.00%
Lease Rate
$12.00 /SF/Yr
Expense Ratio
30.00%
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%
$285,620
Cap Rate 7%
$204,014
Cap Rate 9%
$158,678
Alternative Uses
Best Use
Self Storage
$204.0K
$178.5K – $238.0K
NOI $14,281 @ 7.0% cap · market cap 6.18%
Second Best
Industrial
$154.7K
$135.3K – $180.5K
NOI $10,827 @ 7.0% cap · market cap 4.69%
Theoretical Best
Specialty Retail
$341.4K
$298.8K – $398.3K
NOI $23,900 @ 7.0% cap · market cap 10.35%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
34
Businesses Nearby
Explore this area
Business Placement
Demographics for 58078, ND
39,161
Population
16,416
Households
2.4
Avg Household Size
34
Median Age
45%
College-Educated
97%
High-School Grad
39.8 sq mi
ZIP Area
984
Density / Sq Mi
$97,206
Median Household Income
$51,208
Median Earnings
$1,073
Median Rent
$303,200
Median Home Value
Market
Vacancy Rate% for Industrial in Midwest region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Self storage facility - Pre-sale commercial shop space, versatile for business or storage.
Where is this self storage facility located?
The property is located at 428 29th Ct NW West Fargo, ND.
What is the asking price?
The asking price for this property is $231,000.
What are key features of this property?
This property features: Pre‑Sale Opportunity: Secure a commercial shop space before completion in 2026.; Customizable Space: Ability to customize the shop to fit specific business or storage needs.; Versatile Use: Suitable for business, storage, or workshop purposes.
