Add Listing
    For Sale
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    Moorhead Shop Condos For Sale Title is generated by Realmo AI

    2721 20th Ave S, Moorhead, MN 56560

    View on Map
    Claim this Listing
    For Sale
    Contact for pricing

    Two shop condos with expansion potential in Moorhead, Minnesota.

    Type:Industrial
    Property size:
    19,500 SF
    Price / SF:
    $151/SF
    Added:
    Oct 16, 2023
    Days on Market:
    967
    Last Refresh:
    May 12 at 10:08 pm

    Property Features for 2721 20th Ave S

    General Information

    Standard status
    Active
    Size
    19,500 SF
    Property subtype
    Industrial

    Building Details

    Year Built
    2019

    We can help!

    Listing Contact
    Justin Gustofson, CCIM, SIOR

    Listing agent Justin Gustofson, CCIM, SIOR License #9860

    Listing office Property Resources Group

    Listing date Oct 16, 2023

    Source Crexi

    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

    HighLights

    • Two 9,750 SF shop condos constructed by Morton Buildings.
    • Proforma 7% CAP rate at sales price.
    • Space for two additional 9,750 SF building sites.
    • Utility infrastructure and storm water retention already in place for additional building sites.
    • Potential city incentives available for construction of additional buildings.
    • Built in 2019.

    Overview

    Two 9,750 square foot shop condos constructed by Morton Buildings are available for sale in Moorhead, Minnesota. The property is valued at a proforma 7% CAP rate in the sales price. Available land on the south side offers space for two additional 9,750 square foot building sites with utility infrastructure and storm water retention already in place. The land is valued at $350,000. Potential city incentives may be available for the construction of additional buildings.
    Property Profile Location Intelligence

    Current Use by Public Records

    Warehouse Unit J Warehouse & Storage

    Suggested Use

    Restaurant Real Estate Agency Building Supply Spa & Massage Center Dental Office Big Box & Wholesale Store Auto Repair Shop Pharmacy Gym & Fitness Center Auto Parts Store

    Zoning and permitted uses should be independently verified with local authorities.

    Similar Places Nearby

    • Kim's Homemade Cuisine — 1204 24th Ave S, Moorhead, MN 56560

    Location Insight

    • Map
    • Local Demand
    City
    Moorhead
    County
    Clay
    State
    Minnesota
    Longitude
    -96.7334993
    Latitude
    46.855797

    Nearby Similar for Sale

    • $2,850,000
      8,803 SF

      Turn-Key Restaurant Buildout For Sale

      Restaurant property with full buildout, anchored by Target.
      3333 Highway 10 E, Moorhead, MN
      View Details
    • $3,200,000
      25,000 SF

      Retail Space in Moorhead, MN

      Retail property with high visibility and traffic in Moorhead.
      3330 Hwy 10 E, Moorhead, MN
      View Details
    • $2,000,000
      8,330 SF

      Moorhead Warehouse with Shop, Office

      8,330 SF commercial building with shop and office components.
      4101 32nd Ave S, Moorhead, MN
      View Details
    • $375,000
      3,916 SF

      Office Building with I-94 Access

      Owner-occupant office building offering convenient highway access and visibility in a well-traveled Moorhead corridor.
      2600 12th Ave S, Moorhead, MN 56560
      View Details
    • Contact for pricing
      251,684 SF

      50 Townhome Units in Moorhead

      50 townhome units near parks, schools, and Highway 94.
      1701 Johnson Dr, Moorhead, MN 56560-7415
      View Details
    • $3,809,730
      14,490 SF

      Retail Space in Infill Location

      Retail space for sale in a strong sales area.
      900 Main Ave, Moorhead, MN 56560
      View Details
    • $1,350,000
      12,700 SF

      Moorhead Freestanding Mixed-Use Building

      12,700 SF building on 0.84 acres in Moorhead, Minnesota.
      3100 8th St S, Moorhead, MN 56560
      View Details
    • $950,000
      92,443 SF

      Truck Parking Lot For Sale

      Well-lit truck parking lot with income potential near I-94.
      3221 41st St S, Moorhead, MN 56560
      View Details
    • $4,575,000
      44,088 SF

      Moorhead Office/Warehouse Property For Sale

      High-quality office and warehouse space with superior access to I-94.
      3030 24th Ave S, Moorhead, MN 56560
      View Details
    • $1,260,000
      15,360 SF

      Moorhead Office and Retail Property

      Diverse office and retail property on 1.5 acres.
      3505 8TH Street S, Moorhead, MN 56560
      View Details
    • $7,975,000
      79,632 SF

      Downtown Moorhead Investment Opportunity

      Investment property in Downtown Moorhead with apartment and commercial spaces.
      810 4th Ave S, Moorhead, MN 56560
      View Details
    • $799,000
      10,520 SF

      Moorhead Commercial Property For Sale

      Commercial property in Moorhead, MN, offering great potential.
      1012 N 18th Ave, Moorhead, MN 56560
      View Details

    FAQs

    What type of property is this?
    Flex space - Two shop condos with expansion potential in Moorhead, Minnesota.
    Where is this flex space located?
    The property is located at 2721 20th Ave S Moorhead, MN.
    What is the asking price?
    The asking price for this property is $2,950,000.
    What are key features of this property?
    This property features: Two 9,750 SF shop condos constructed by Morton Buildings.; Proforma 7% CAP rate at sales price.; Space for two additional 9,750 SF building sites.
    We can help!
    Contact for Pricing
    Please call us for current price
    and status of this listing
    Justin Gustofson, CCIM, SIOR
    Real Estate License ID: 9860
    Request Owner's contact information
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    Thank You for Inquiry
    2721 20th Ave S, Moorhead, MN 56560
    letter with green check mark
    Check your email
    We sent you the
    agent's contact details. yellow underline
    Can't find it?
    Please check your junk/spam folder.
    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!