23,290 SF Distribution
For Sale
$5,836,032
8923 Oil Ave, Williston, ND 58801
Built-to-suit distribution facility for FedEx Corporation.
Property Size23,290 SF
Price / SF$250.58
Days on Market163
Property Features for 8923 Oil Ave
General Information
Standard status
Active
Size
23,290 SF
Property subtype
Retail - Freestanding
Building Details
Building Size
23,290 SF
Year Built
2017
Listing Agency:
Encore Real Estate Investment Services
Listed By:
Marcel Pearl · License #6501396308
(248) 702-0942
Source:
Commercialcafe
Added: Mar 26
Changed: Sep 3
Last Checked: Sep 4 at 2:39AM
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 Encore Real Estate Investment Services
Investment Insights
Based on property information with market context.
This property features a 23,290 square foot distribution facility. The property was built-to-suit for FedEx Corporation in 2017.
Key Highlights
- 23,290 square foot facility.
- Built‑to‑suit for FedEx Corporation.
- Built in 2017.
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
3.11%
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 3.11%
Second Best
Industrial
$1.99M
$1.74M – $2.32M
NOI $139,391 @ 7.0% cap · market cap 2.39%
Theoretical Best
Office A
$5.14M
$4.49M – $5.99M
NOI $359,523 @ 7.0% cap · market cap 6.16%
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
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Distribution center - Built-to-suit distribution facility for FedEx Corporation.
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 $5,836,032.
What are key features of this property?
This property features: 23,290 square foot facility.; Built‑to‑suit for FedEx Corporation.; Built in 2017.
