South Fargo Office Suite
For Sale
Contact for pricing
Pending
827 28th St S Suite B, Fargo, ND 58103
Office suite for sale in South Fargo near 13th Avenue.
Property Size3,200 SF
Days on Market760
Property Features for 827 28th St S Suite B
General Information
Standard status
Pending
Size
3,200 SF
Property subtype
Office
Building Details
Year Built
1989
Listing Agency:
Goldmark Commercial Real Estate Inc
(701) 893-2826
Listed By:
Paul Campbell · License #ND 10554
Source:
Crexi
Added: Jul 24, 2024
Changed: Aug 8
Last Checked: Aug 21 at 8:16PM
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 Goldmark Commercial Real Estate Inc
Investment Insights
Based on property information with market context.
This 3,200 square foot office suite is located in South Fargo, near 13th Avenue and 25th Street, with proximity to professional and retail businesses. The uniquely designed office building features front door parking and direct exterior access. The interior includes a reception area, over a dozen rooms suitable for offices and conference rooms, work areas, and private restrooms. Numerous improvements have been made since 2018. The association handles snow removal and lawncare. This property presents an opportunity for an owner-occupier or investor.
Key Highlights
- Rare opportunity to own an office suite in South Fargo in this size and price range.
- Located near busy 13th Avenue and 25th Street with numerous professional and retail businesses nearby.
- 3,200 SF uniquely designed office building.**
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
$37,498
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
7.08%
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%
$749,960
$750.0K
Cap Rate 7%
$535,686
$535.7K
Cap Rate 9%
$416,644
$416.6K
Market Conditions
NOI Build-Up for 3,200 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
$59.5K $18.60/SF
− Vacancy
−$9.5K −$2.98/SF
EGI
$50.0K $15.62/SF
− OpEx
−$12.5K −$3.91/SF
NOI
$37.5K $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%
$749,960
Cap Rate 7%
$535,686
Cap Rate 9%
$416,644
Alternative Uses
Best Use
Office B
$535.7K
$468.7K – $625.0K
NOI $37,498 @ 7.0% cap · market cap 7.08%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$694.2K
$607.4K – $809.9K
NOI $48,591 @ 7.0% cap · market cap 9.17%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
1,741
Businesses Nearby
Explore this area
Business Placement
Demographics for 58103, ND
46,754
Population
25,241
Households
1.9
Avg Household Size
36
Median Age
37%
College-Educated
93%
High-School Grad
11.5 sq mi
ZIP Area
4,066
Density / Sq Mi
$57,699
Median Household Income
$38,241
Median Earnings
$831
Median Rent
$239,200
Median Home Value
Market
Vacancy Rate% for Office in Midwest region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Office units - Office suite for sale in South Fargo near 13th Avenue.
Where is this office units located?
The property is located at 827 28th St S Suite B Fargo, ND.
What is the asking price?
The asking price for this property is $530,000.
What are key features of this property?
This property features: Rare opportunity to own an office suite in South Fargo in this size and price range.; Located near busy 13th Avenue and 25th Street with numerous professional and retail businesses nearby.; 3,200 SF uniquely designed office building.**
