Building Details

Year Built 2020

Buildings 1

Listing Agency: Property Resources Group

Listed By: Ryan Collins · License #ND 10208 Show Phone

Source: Crexi

Added: Apr 15 Changed: Oct 2 Last Checked: Oct 20 at 6:58PM

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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 Property Resources Group

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Investment Insights

Based on property information with market context.

This heated shop condo in the Linn Grove development is designed for practical business or storage use. The unit includes a functional interior layout with a 14' x 12' overhead door for straightforward loading and floor access, along with a floor drain and an on-site bathroom.

Located along a desirable and accessible corridor in South Fargo, the property is set within a development that supports convenient operations.

The unit is offered for sale as a 1,500 SF shop condo and is equipped with key building features for day-to-day work in a warehouse-style environment.

Key Highlights

• 1,500 SF shop condo in the Linn Grove development
• 14' x 12' overhead door for drive‑in access
• Heated interior

Financial Insights

Estimated NOI and Cap Rate

NOI / Yr

$12,098

Cap Rate

4.10%

Suggested Prices Based on Cap Rates

Cap Rate 5%

$241,960 $242.0K

Cap Rate 7%

$172,829 $172.8K

Cap Rate 9%

$134,422 $134.4K

Is this asking price fair?

Market Conditions

NOI Build-Up for 1,500 SF

Gross rent

$19.8K $13.20/SF

− Vacancy

−$1.2K −$0.79/SF

EGI

$18.6K $12.41/SF

− OpEx

−$6.5K −$4.34/SF

NOI

$12.1K $8.07/SF

Area

Fargo, ND

Vacancy

6.00%

Lease Rate

$13.20 /SF/Yr

Expense Ratio

35.00%

Simulate Cap Rate and NOI

Suggested Prices Based on Cap Rates

Cap Rate 5%

$241,960

Cap Rate 7%

$172,829

Cap Rate 9%

$134,422

Alternative Uses

Best Use

Flex RnD

$172.8K

$151.2K – $201.6K (±1% cap)

NOI $12,098 @ 7.0% cap · market cap 4.10%

Second Best

Industrial

$146.1K

$127.9K – $170.5K (±1% cap)

NOI $10,228 @ 7.0% cap · market cap 3.47%

Theoretical Best

Office A

$325.4K

$284.7K – $379.6K (±1% cap)

NOI $22,777 @ 7.0% cap · market cap 7.72%

Zoning and permitted uses should be independently verified with authorities. How Realmo checks its estimates

Property Analytics

Current Use

Flex space

Suggested Use

Top Pick Dental Office Law Firm (Bike/Boat/Book/etc) Store Bakery Garden Center Plumbing Service

Score = modeled unmet demand for each use within ~1 mi (higher = bigger opportunity). Zoning and permitted uses should be independently verified with local authorities.

Location Intelligence

Trade Area within ½ mile

324

Businesses Nearby

Under-served

Demand for This Use

Explore this area Business Placement

Demographics for 58104, ND

48,150

Population

21,847

Households

2.2

Avg Household Size

32

Median Age

49%

College-Educated

98%

High-School Grad

28.0 sq mi

ZIP Area

1,720

Density / Sq Mi

$85,014

Median Household Income

$51,148

Median Earnings

$1,087

Median Rent

$346,100

Median Home Value

Market

Vacancy Rate% for Industrial in Midwest region

4.4% 2019

4.9% 2020

3.6% 2021

3.1% 2022

4.6% 2023

5% 2024

4.9% 2025

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Frequently Asked Questions

What type of property is this?

Flex space - Shop condo includes a heated interior, a 14' x 12' overhead door, floor drain, and a private bathroom.

Where is this flex space located?

The property is located at 5136 50th Avenue South Fargo, ND.

What is the asking price?

The asking price for this property is $295,000.

What are key features of this property?

This property features: 1,500 SF shop condo in the Linn Grove development; 14' x 12' overhead door for drive‑in access; Heated interior