Flex Property with Secure
For Sale
$1,175,000
6008 E Highway 2, Minot, ND 58701
Two buildings combine office, heated shop, and warehouse functionality.
Property Size12,600 SF
Price / SF$93.25
Days on Market41
Property Features for 6008 E Highway 2
General Information
Standard status
Active
Size
12,600 SF
Property subtype
Commercial
Zoning
C2
Site & Location
Highway Access
Yes
Fenced Yard
Yes
Outdoor Storage
Yes
Additional Details
Office Build-Out
6,000 SF
Building Details
Year Built
1981
Buildings
2
Units
1
Listing Agency:
(701) 337-6433
Listed By:
Mike Matteson
(701) 337-6433
Source:
Westinkster.idxbroker
Added: Jul 20
Changed: Aug 28
Last Checked: Aug 29 at 5:55AM
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 Mike Matteson
Investment Insights
Based on property information with market context.
This C2-zoned flex property includes two separate buildings totaling 12,600 SF. The main building contains 6,000 SF of office space across two areas and 3,000 SF of heated shop space, along with a two-story section and three overhead doors. The second building provides 3,600 SF of unheated shop or warehouse area with electricity, a concrete floor, and two larger overhead doors.
A fenced yard measuring 190’ by 80’ adds secured outdoor space. The enclosure uses chain-link fencing with three strands of barbed wire and includes an electric remote-controlled gate. The property is positioned along Highway 2 in Minot, North Dakota, with C2 zoning and a 1981 construction date.
A fenced yard measuring 190’ by 80’ adds secured outdoor space. The enclosure uses chain-link fencing with three strands of barbed wire and includes an electric remote-controlled gate. The property is positioned along Highway 2 in Minot, North Dakota, with C2 zoning and a 1981 construction date.
Key Highlights
- 12,600 SF across two buildings
- Main building includes 6,000 SF of office space and 3,000 SF of heated shops
- Second building offers 3,600 SF of unheated shop or warehouse space
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
$101,615
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
8.65%
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%
$2,032,300
$2.0M
Cap Rate 7%
$1,451,643
$1.5M
Cap Rate 9%
$1,129,056
$1.1M
Market Conditions
NOI Build-Up for 12,600 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
$139.1K $11.04/SF
− Vacancy
−$3.6K −$0.29/SF
EGI
$135.5K $10.75/SF
− OpEx
−$33.9K −$2.69/SF
NOI
$101.6K $8.06/SF
Area
Ward County, ND
Vacancy
2.60%
Lease Rate
$11.04 /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%
$2,032,300
Cap Rate 7%
$1,451,643
Cap Rate 9%
$1,129,056
Alternative Uses
Best Use
Office B
$1.45M
$1.27M – $1.69M
NOI $101,615 @ 7.0% cap · market cap 8.65%
Second Best
Warehouse
$1.10M
$962.8K – $1.28M
NOI $77,022 @ 7.0% cap · market cap 6.56%
Theoretical Best
Office A
$1.69M
$1.48M – $1.97M
NOI $118,420 @ 7.0% cap · market cap 10.08%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Yes
Fenced yard
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
50
Businesses Nearby
Well-served
Demand for This Use
Explore this area
Business Placement
Demographics for 58701, ND
32,517
Population
16,267
Households
2
Avg Household Size
37
Median Age
28%
College-Educated
95%
High-School Grad
235.6 sq mi
ZIP Area
138
Density / Sq Mi
$75,329
Median Household Income
$46,695
Median Earnings
$875
Median Rent
$270,200
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?
Flex space - Two buildings combine office, heated shop, and warehouse functionality.
Where is this flex space located?
The property is located at 6008 E Highway 2 Minot, ND.
What is the asking price?
The asking price for this property is $1,175,000.
What are key features of this property?
This property features: 12,600 SF across two buildings; Main building includes 6,000 SF of office space and 3,000 SF of heated shops; Second building offers 3,600 SF of unheated shop or warehouse space
