Office Building with Full Lower
New
For Sale
$650,000
509 5th St. NE, Devils Lake, ND 58301
The layout includes private offices, conference rooms, a break room, and a two-stall garage.
Property Size3,360 SF
Price / SF$193.45
Days on Market3
Property Features for 509 5th St. NE
General Information
Standard status
Active
Size
3,360 SF
Property subtype
Commercial Building
Amenities
reception area
conference rooms
break room
Lot Size Square Feet: 9100
Asphalt Roof, Tar Roof
Sewer Type: Municipal
Total Taxes: $5,344, Tax Year: 2025, Percentage of Tax that is Deductable: 0
Carpet Floor, Linoleum Floor
Garage Type: Detached, 2 Garage Spaces
Has Central AC: 1
Forced Air Heating, Natural Gas Heat Fuel
Sale, Sale Type: Foreclosure
Basement Type: Full, Finished, Area Square Footage: 3360
One Story
Above Area Square Feet: 3360, Street View
4 Half Baths
Water Source: Municipal, Natural Gas Available
Construction Type: Masonry - Brick
Brick Siding, Masonry Siding
Building Details
Stories
2
Listing Agency:
Real Estate 7
Listed By:
Allan M. Freidig
(701) 662-7171
Source:
Doyle-realty
Added: Oct 5
Changed: Oct 7
Last Checked: Oct 7 at 2:11PM
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 Real Estate 7
Investment Insights
Based on property information with market context.
Located at 509 5th St. NE in Devils Lake, this office property has a 3,360-square-foot main floor with a reception area, multiple private offices, conference rooms, a break room, and bathrooms. The full lower level measures an additional 3,360 square feet and can serve as storage or may be configured for office use.
A two-stall garage and employee parking are located at the rear of the property. A public parking lot is across the street. The downtown setting and existing office layout provide a range of ways to use the building’s main and lower levels.
A two-stall garage and employee parking are located at the rear of the property. A public parking lot is across the street. The downtown setting and existing office layout provide a range of ways to use the building’s main and lower levels.
Key Highlights
- 3,360‑square‑foot main floor with reception, private offices, conference rooms, break room, and bathrooms
- Full 3,360‑square‑foot lower level for storage or potential office configuration
- Two‑stall garage and rear parking for employees
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$32,000
Cap Rate
4.92%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$640,000
$640.0K
Cap Rate 7%
$457,143
$457.1K
Cap Rate 9%
$355,556
$355.6K
Market Conditions
NOI Build-Up for 3,360 SF
Gross rent
$52.4K $15.60/SF
− Vacancy
−$9.7K −$2.90/SF
EGI
$42.7K $12.70/SF
− OpEx
−$10.7K −$3.17/SF
NOI
$32.0K $9.52/SF
Area
Ramsey County, ND
Vacancy
18.60%
Lease Rate
$15.60 /SF/Yr
Expense Ratio
25.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$640,000
Cap Rate 7%
$457,143
Cap Rate 9%
$355,556
Alternative Uses
Best Use
Office B
$457.1K
$400.0K – $533.3K
NOI $32,000 @ 7.0% cap · market cap 4.92%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$664.8K
$581.7K – $775.6K
NOI $46,537 @ 7.0% cap · market cap 7.16%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Location Intelligence
Trade Area within ½ mile
743
Businesses Nearby
Explore this area
Business Placement
Demographics for 58301, ND
10,105
Population
5,040
Households
2
Avg Household Size
40
Median Age
27%
College-Educated
93%
High-School Grad
274.2 sq mi
ZIP Area
37
Density / Sq Mi
$58,688
Median Household Income
$37,611
Median Earnings
$682
Median Rent
$205,200
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 Office in Midwest region
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Frequently Asked Questions
What type of property is this?
Office building - The layout includes private offices, conference rooms, a break room, and a two-stall garage.
Where is this office building located?
The property is located at 509 5th St. NE Devils Lake, ND.
What is the asking price?
The asking price for this property is $650,000.
What are key features of this property?
This property features: 3,360‑square‑foot main floor with reception, private offices, conference rooms, break room, and bathrooms; Full 3,360‑square‑foot lower level for storage or potential office configuration; Two‑stall garage and rear parking for employees
