Modern Office
For Sale
$997,500
5159 44 Street S, Fargo, ND 58104
Second-floor kitchen area and select suites with private bathrooms and showers support varied office configurations.
Property Size3,600 SF
Price / SF$277.08
Days on Market1153
Property Features for 5159 44 Street S
General Information
Standard status
Active
Size
3,600 SF
Property subtype
General Commercial
Taxes and HOA fees
Annual Taxes
$1,624
Amenities
private bathrooms with shower
wet bar/kitchen area
floor to ceiling windows
3
Building Details
Year Built
2023
Listing Agency:
CORE Property Group
(701) 212-4107
Listed By:
John Lillestol · License #9589
Source:
Xome
Added: Jul 6, 2023
Changed: Aug 30
Last Checked: Aug 30 at 1:02PM
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 CORE Property Group
Investment Insights
Based on property information with market context.
This newer office building at 5159 44th St S features contemporary interior finishes and a range of suite configurations. Certain suites include private bathrooms with showers, while the second floor provides a wet bar and kitchen area for added workplace functionality.
Floor-to-ceiling windows on the second level bring substantial natural light into the space. The property is located in Fargo, North Dakota, and is offered as an office building for sale.
Floor-to-ceiling windows on the second level bring substantial natural light into the space. The property is located in Fargo, North Dakota, and is offered as an office building for sale.
Key Highlights
- New office building with contemporary interior finishes
- Select suites include private bathrooms with showers
- Second‑floor wet bar and kitchen area
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
$42,185
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
4.23%
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%
$843,700
$843.7K
Cap Rate 7%
$602,643
$602.6K
Cap Rate 9%
$468,722
$468.7K
Market Conditions
NOI Build-Up for 3,600 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
$67.0K $18.60/SF
− Vacancy
−$10.7K −$2.98/SF
EGI
$56.2K $15.62/SF
− OpEx
−$14.1K −$3.91/SF
NOI
$42.2K $11.72/SF
Area
Fargo, ND
Vacancy
16.00%
Lease Rate
$18.60 /SF/Yr
Expense Ratio
25.00%
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%
$843,700
Cap Rate 7%
$602,643
Cap Rate 9%
$468,722
Alternative Uses
Best Use
Office B
$602.6K
$527.3K – $703.1K
NOI $42,185 @ 7.0% cap · market cap 4.23%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$780.9K
$683.3K – $911.1K
NOI $54,665 @ 7.0% cap · market cap 5.48%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
148
Businesses Nearby
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 Office 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?
Office building - Second-floor kitchen area and select suites with private bathrooms and showers support varied office configurations.
Where is this office building located?
The property is located at 5159 44 Street S Fargo, ND.
What is the asking price?
The asking price for this property is $997,500.
What are key features of this property?
This property features: New office building with contemporary interior finishes; Select suites include private bathrooms with showers; Second‑floor wet bar and kitchen area
