Flex Space with Overhead
For Sale
Contact for pricing
5257 Veterans Blvd, Fargo, ND 58104
The 2023 building combines a metal-lined interior with an epoxy floor, heating, and LED lighting.
Property Size2,170 SF
Price / SF$216.50
Days on Market64
Property Features for 5257 Veterans Blvd
General Information
Standard status
Active
Size
2,170 SF
Class
A
Property subtype
Office, Mixed Use, Industrial
Zoning
Commercial
Additional Details
Asking Price
$469,800
Building Details
Year Built
2023
Buildings
1
Building Size
2,170 SF
Listing Agency:
Dakota Commercial Fargo
Listed By:
Neal Beitelspacher · License #ND 8294
Source:
Crexi
Added: Jul 1
Changed: Aug 30
Last Checked: Aug 31 at 7:49AM
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 Dakota Commercial Fargo
Investment Insights
Based on property information with market context.
Located at 5257 Veterans Blvd in Fargo, ND, this 2,170-square-foot flex building was constructed in 2023. Commercial zoning applies to the property, which features a metal-lined interior, epoxy flooring, a bathroom, heating, and LED lighting.
A 12' X 12' overhead door supports access for industrial or warehouse operations. Interior clearance varies by side of the building, with a 14-foot north sidewall and a 12-foot south sidewall.
A 12' X 12' overhead door supports access for industrial or warehouse operations. Interior clearance varies by side of the building, with a 14-foot north sidewall and a 12-foot south sidewall.
Key Highlights
- 2,170‑square‑foot flex building constructed in 2023
- Commercial zoning
- Metal‑lined interior with epoxy flooring
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
$19,124
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
4.07%
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%
$382,480
$382.5K
Cap Rate 7%
$273,200
$273.2K
Cap Rate 9%
$212,489
$212.5K
Market Conditions
NOI Build-Up for 2,170 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
$23.4K $10.80/SF
− Vacancy
−$937 −$0.43/SF
EGI
$22.5K $10.37/SF
− OpEx
−$3.4K −$1.56/SF
NOI
$19.1K $8.81/SF
Area
Fargo, ND
Vacancy
4.00%
Lease Rate
$10.80 /SF/Yr
Expense Ratio
15.00%
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%
$382,480
Cap Rate 7%
$273,200
Cap Rate 9%
$212,489
Alternative Uses
Best Use
Warehouse
$273.2K
$239.1K – $318.7K
NOI $19,124 @ 7.0% cap · market cap 4.07%
Second Best
Flex RnD
$250.0K
$218.8K – $291.7K
NOI $17,501 @ 7.0% cap · market cap 3.73%
Theoretical Best
Office A
$470.7K
$411.9K – $549.2K
NOI $32,951 @ 7.0% cap · market cap 7.01%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
264
Businesses Nearby
Balanced
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
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Flex space - The 2023 building combines a metal-lined interior with an epoxy floor, heating, and LED lighting.
Where is this flex space located?
The property is located at 5257 Veterans Blvd Fargo, ND.
What is the asking price?
The asking price for this property is $469,800.
What are key features of this property?
This property features: 2,170‑square‑foot flex building constructed in 2023; Commercial zoning; Metal‑lined interior with epoxy flooring
