Williston FedEx Ship Center For
For Sale
Contact for pricing
8923 OIL AVE, Williston, ND 58801
23,290 SF FedEx Ship Center built in 2017.
Property Size23,290 SF
Lot Size2.50 Acres
Price / SF$240.94
Days on Market101
Property Features for 8923 OIL AVE
General Information
Standard status
Active
Size
23,290 SF
Total Parking Spaces
59
Lot size
2.50 Acres
Property subtype
Industrial
Zoning
M-2, Heavy Industrial
Occupancy
100%
Lease Type
NN
Net Operating Income
$364,752
Building Details
Year Built
2017
Buildings
1
Stories
1
Units
1
Tenancy
Single
Listing Agency:
Northmarq Capital, LLC
Listed By:
Jason Powell · License #GA 313490
Source:
Crexi
Added: May 22
Changed: Aug 16
Last Checked: Aug 29 at 8:36AM
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 Northmarq Capital, LLC
Investment Insights
Based on property information with market context.
The FedEx Ship Center, built in 2017, is available for sale. Located at 8923 Oil Avenue in Williston, North Dakota, the property encompasses 23,290 square feet on 2.50 acres. It is situated within the Bakken Industrial Park at the intersection of US-2 and US-85.
Key Highlights
- 100% fee‑simple interest in the FedEx Ship Center
- Build‑to‑suit facility constructed in 2017
- Located in Williston, North Dakota
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
$181,494
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
3.23%
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%
$3,629,880
$3.6M
Cap Rate 7%
$2,592,771
$2.6M
Cap Rate 9%
$2,016,600
$2.0M
Market Conditions
NOI Build-Up for 23,290 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
$223.6K $9.60/SF
− Vacancy
−$10.1K −$0.43/SF
EGI
$213.5K $9.17/SF
− OpEx
−$32.0K −$1.38/SF
NOI
$181.5K $7.79/SF
Area
Williams County, ND
Vacancy
4.50%
Lease Rate
$9.60 /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%
$3,629,880
Cap Rate 7%
$2,592,771
Cap Rate 9%
$2,016,600
Alternative Uses
Best Use
Warehouse
$2.59M
$2.27M – $3.02M
NOI $181,494 @ 7.0% cap · market cap 3.23%
Second Best
Industrial
$1.99M
$1.74M – $2.32M
NOI $139,391 @ 7.0% cap · market cap 2.48%
Theoretical Best
Office A
$5.14M
$4.49M – $5.99M
NOI $359,523 @ 7.0% cap · market cap 6.41%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
47
Businesses Nearby
Explore this area
Business Placement
Demographics for 58801, ND
34,921
Population
17,095
Households
2
Avg Household Size
31
Median Age
25%
College-Educated
91%
High-School Grad
716.1 sq mi
ZIP Area
49
Density / Sq Mi
$90,119
Median Household Income
$53,496
Median Earnings
$1,116
Median Rent
$279,800
Median Home Value
Market
Vacancy Rate% for Industrial in Midwest region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Distribution center - 23,290 SF FedEx Ship Center built in 2017.
Where is this distribution center located?
The property is located at 8923 OIL AVE Williston, ND.
What is the asking price?
The asking price for this property is $5,611,575.
What are key features of this property?
This property features: 100% fee‑simple interest in the FedEx Ship Center; Build‑to‑suit facility constructed in 2017; Located in Williston, North Dakota
