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    4171 24Th Ave Fargo, ND 58102

    Sponsored
    For Sale
    $29,950,000

    Class A, 195,000 SF, prime location

    Property size:
    194,637 SF

    Description

    Added:
    Dec 11, 2024
    Days on Market:
    402
    This exceptional Class A industrial flex building, totaling 194,637 square feet, presents a unique investment opportunity in Fargo, North Dakota. Situated on an 11.74-acre lot in a prime location near I-29, this 2020-built facility offers unparalleled versatility. The property features 20,000+ square feet of Class A office space, boasting a modern design with high-end finishes, including open floor plans, multiple offices, conference rooms, and a mother's room. A substantial 96,000+ square feet of warehouse/distribution space includes 12 dock-high doors, 30-foot sidewalls, LED lighting, and reinforced concrete floors. Additionally, 40,000+ square feet of flexible manufacturing space is directly connected to the warehouse, featuring 25-31 foot high ceilings and drive-in doors. A 5,000-square-foot showroom with floor-to-ceiling glass provides excellent display capabilities. Employee amenities are extensive, including a fully equipped cafeteria, a professional gym with seven private showers, a half-court basketball court, and four EV charging stations. The building boasts a 3000-amp electrical service, ESFR sprinklers, and a solar panel system generating approximately 90,390 kWh annually. With 208 parking spaces, including approximately 25 trailer stalls, and a 28-33.5-foot clear height range, this property is ideally suited for a variety of businesses seeking a state-of-the-art facility. The permitted zoning is Limited Industrial (LI). Asking price is $29,950,000.

    Property Features for 4171 24Th Ave

    General Information

    Property type
    Manufacturing properties
    Square Feet
    194,637 SF
    Class
    A
    Lot Size
    511,394 SF

    Building Details

    Year Built
    2020

    HighLights

    • 195,000 SF total building, opened in 2021.
    • Modern facility with office, warehouse, manufacturing space, and numerous amenities.
    • Excellent location near 19th Ave N and less than one mile from I‑29.
    • 20,000+ SF of Class A office space with high‑end finishes.
    • 96,000+ SF of warehouse space featuring 12 docks and 30' clear height.
    • 40,000+ SF of flexible manufacturing space with warehouse connectivity.
    Property Profile Location Intelligence

    Current Use by Public Records

    The GRIND Fitness Fitness Equipment Wholesaler SensoryRx Sporting Goods Store PRx Performance Corporate Office

    Suggested Use

    Realty agency Spa & Massage Hair Salon Clothing Store Nail Salon Gym & Fitness Storage Facility Garden Center Kitchen & Bath Electrical Service

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

    Location Insight

    • Map
    • Local Demand
    City
    Fargo
    County
    Cass
    State
    North Dakota
    Longitude
    -96.8529056
    Latitude
    46.9100651

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    FAQs

    What type of property is this?
    Manufacturing property - Class A, 195,000 SF, prime location
    Where is this manufacturing property located?
    The property is located at 4171 24Th Ave Fargo, ND.
    What is the asking price?
    The asking price for this property is $29,950,000.
    What are key features of this property?
    This property features: 195,000 SF total building, opened in 2021.; Modern facility with office, warehouse, manufacturing space, and numerous amenities.; Excellent location near 19th Ave N and less than one mile from I-29.
    Request Owner's contact information
    4171 24Th Ave Fargo, ND 58102
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    Fargo, ND 58102
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    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
    4171 24Th Ave Fargo, ND 58102
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