Flex Shop Condo with Natural Gas
For Sale
Contact for pricing
436 29th Ct. #5 NW, West Fargo, ND 58078
Steel-lined commercial unit with a bathroom, wash tub, floor drain, and natural gas heat.
Property Size2,250 SF
Price / SF$125
Days on Market133
Property Features for 436 29th Ct. #5 NW
General Information
Standard status
Active
Size
2,250 SF
Class
B
Property subtype
Industrial, Mixed Use, Self Storage
Building Details
Year Built
2024
Units
1
Construction
post frame steel
Listing Agency:
Uptown Real Estate
(701) 388-6015
Listed By:
Samantha Johnston · License #40928898
Source:
Crexi
Added: Apr 22
Changed: Aug 30
Last Checked: Aug 30 at 8:56AM
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 2,250-square-foot flex shop condo was built in 2024 and features post-frame steel-lined construction. The unit includes natural gas heat, a floor drain, bathroom, and wash tub, providing practical support for shop, storage, and business operations. The layout measures 30 feet by 75 feet, with the possibility of combining two units for additional space.
Optional improvements include a mezzanine, epoxy flooring, upgraded electrical, and air conditioning. The property is located at 436 29th Ct. #5 NW in West Fargo, North Dakota.
Optional improvements include a mezzanine, epoxy flooring, upgraded electrical, and air conditioning. The property is located at 436 29th Ct. #5 NW in West Fargo, North Dakota.
Key Highlights
- 2,250 SF shop condo built in 2024
- 30' x 75' unit layout
- Post‑frame construction with steel‑lined interior
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
$19,375
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
6.89%
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%
$387,500
$387.5K
Cap Rate 7%
$276,786
$276.8K
Cap Rate 9%
$215,278
$215.3K
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
$32.4K $14.40/SF
− Vacancy
−$2.6K −$1.15/SF
EGI
$29.8K $13.25/SF
− OpEx
−$10.4K −$4.64/SF
NOI
$19.4K $8.61/SF
Area
Cass County, ND
Vacancy
8.00%
Lease Rate
$14.40 /SF/Yr
Expense Ratio
35.00%
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%
$387,500
Cap Rate 7%
$276,786
Cap Rate 9%
$215,278
Alternative Uses
Best Use
Flex RnD
$276.8K
$242.2K – $322.9K
NOI $19,375 @ 7.0% cap · market cap 6.89%
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
Under-served
Demand for This Use
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?
Flex space - Steel-lined commercial unit with a bathroom, wash tub, floor drain, and natural gas heat.
Where is this flex space located?
The property is located at 436 29th Ct. #5 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: 2,250 SF shop condo built in 2024; 30' x 75' unit layout; Post‑frame construction with steel‑lined interior
