Post-Frame Shop Condo with
For Sale
Contact for pricing
436 29th Ct. #4 NW, West Fargo, ND 58078
30' x 75' shop condo featuring post frame steel lining, natural gas heat, and an in-unit floor drain plus bathroom.
Property Size2,250 SF
Price / SF$125
Days on Market139
Property Features for 436 29th Ct. #4 NW
General Information
Standard status
Active
Size
2,250 SF
Class
B
Property subtype
Industrial, Mixed Use, Self Storage
Amenities
natural gas heat
floor drain
bathroom
wash tub
Building Details
Year Built
2024
Units
1
Construction
post frame steel lined
Listing Agency:
Uptown Real Estate
Listed By:
Samantha Johnston · License #40928898
(701) 388-6015
Source:
Crexi
Added: Apr 22
Changed: Aug 14
Last Checked: Sep 7 at 10:09AM
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 Uptown Real Estate
Investment Insights
Based on property information with market context.
This 30' x 75' shop condo is built as a post frame, steel-lined unit and includes natural gas heat. Each condo also features a floor drain, a bathroom, and a wash tub. The space is offered as a standalone unit or can be combined with a neighboring unit for a larger configuration.
Located at 436 29th Ct. #4 NW in West Fargo, the property is being marketed for sale and also as an option for lease. Additional upgrades are available, including mezzanine, epoxy flooring, electrical improvements, and air conditioning.
With the included drainage and sanitary fixtures, the unit is designed to support general business use and storage needs.
Located at 436 29th Ct. #4 NW in West Fargo, the property is being marketed for sale and also as an option for lease. Additional upgrades are available, including mezzanine, epoxy flooring, electrical improvements, and air conditioning.
With the included drainage and sanitary fixtures, the unit is designed to support general business use and storage needs.
Key Highlights
- 30' x 75' shop condo built in 2024
- Post‑frame steel lined interior
- Natural gas heat
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
$17,388
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%
$347,760
$347.8K
Cap Rate 7%
$248,400
$248.4K
Cap Rate 9%
$193,200
$193.2K
Market Conditions
NOI Build-Up for 2,250 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
$27.0K $12.00/SF
− Vacancy
−$2.2K −$0.96/SF
EGI
$24.8K $11.04/SF
− OpEx
−$7.5K −$3.31/SF
NOI
$17.4K $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%
$347,760
Cap Rate 7%
$248,400
Cap Rate 9%
$193,200
Alternative Uses
Best Use
Self Storage
$248.4K
$217.4K – $289.8K
NOI $17,388 @ 7.0% cap · market cap 6.18%
Second Best
Warehouse
$228.7K
$200.1K – $266.8K
NOI $16,008 @ 7.0% cap · market cap 5.69%
Theoretical Best
Specialty Retail
$415.7K
$363.7K – $485.0K
NOI $29,099 @ 7.0% cap · market cap 10.35%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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
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Frequently Asked Questions
What type of property is this?
Self storage facility - 30' x 75' shop condo featuring post frame steel lining, natural gas heat, and an in-unit floor drain plus bathroom.
Where is this self storage facility located?
The property is located at 436 29th Ct. #4 NW West Fargo, ND.
What is the asking price?
The asking price for this property is $281,250.
What are key features of this property?
This property features: 30' x 75' shop condo built in 2024; Post‑frame steel lined interior; Natural gas heat
