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    3140 Blue Stem Dr West Fargo, ND 58078

    • Commercial real estate
    • 63,508 SF
    For Lease
    View listing
    $20 SF/Yr
    Value Estimations
    Cap Rate Potential
    Location Intelligence
    Property ID
    US56-0062237
    The Realmo ID is a unique identifier assigned to every property, incorporating country codes and precise geo-coordinates for 300x300-foot land blocks. It enables standardized data collection and seamless integration of disparate sources such as ownership, tax, title data and physical specifications. By aggregating current and historical records, the Realmo ID powers advanced analytics and delivers deep, verifiable insights for real estate professionals.

    Current Use by Public Records

    • Commercial real estate

    Property Details for 3140 Blue Stem Dr

    Year built
    2013
    Property size
    63,508 SF
    Property type
    Commercial real estate

    Description

    Boulevard Square II offers exceptional executive office suites in West Fargo, North Dakota. This 63,508 square foot building, constructed in 2013, sits on a spacious 137,860 square foot lot at 3140 Bluestem Dr, zip code 58078. The property is categorized as both retail and office space, currently offering multiple tenancies. Individual suites range from a minimum of 2,281 square feet to a maximum contiguous space of 2,686 square feet. A total of 4,967 square feet of vacant space is immediately available, perfect for businesses seeking a turnkey solution. The building's prime location in West Fargo, Cass County, provides excellent visibility and accessibility. This is an ideal opportunity for businesses seeking modern, efficient, and conveniently located office space in a thriving community. The property's design caters to executive office needs, offering a professional and productive work environment. Interested parties are encouraged to inquire about available space and lease terms. The building's modern design and prime location make it an attractive option for businesses of all sizes. The available space is ready for immediate occupancy, allowing for a quick and seamless transition for new tenants.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

    Get a detailed, property-specific valuation — fast and free

    Location Insight

    • Map
    • Local Demand
    City
    West Fargo
    County
    Cass
    State
    North Dakota
    Longitude
    -96.8856236
    Latitude
    46.8356724

    Comparable in this City

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      West Fargo Office Space Available

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    • $13 SF/Yr
      72,720 SF

      West Fargo Office Suites Available

      Modern office space in thriving West Fargo.
      1405 Prairie Pkwy, West Fargo, ND 58078
      View Details

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    Similar Nearby for Lease

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      West Fargo Executive Office Suite

      Prime Office Space, 1540 sq ft Available
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      View Details
    • $24 SF/Yr
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      West Fargo Mixed-Use Retail Space

      Prime West Fargo location, 9,922 sq ft available.
      2920 Sheyenne St, West Fargo, ND 58078
      View Details
    • $23 SF/Yr
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      West Fargo Executive Office Condo

      Modern Office Space, 1225 SF, West Fargo
      3937 4Th St, West Fargo, ND 58078
      View Details
    • $13 SF/Yr
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      Mixed-Use Center in West Fargo

      Mixed-use shopping center with retail, restaurant, office, and medical businesses.
      1405 Prairie Pkwy, West Fargo, ND 58078
      View Details
    • $13 SF/Yr
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      West Fargo Office Space Available

      Modern Offices, Great Visibility, Ample Parking
      1042 14Th Ave, West Fargo, ND 58078
      View Details
    • $13 SF/Yr
      72,720 SF

      West Fargo Office Suites Available

      Modern office space in thriving West Fargo.
      1405 Prairie Pkwy, West Fargo, ND 58078
      View Details
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    West Fargo, ND 58078
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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
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