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    505 32Nd Ave E West Fargo, ND 58078
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    505 32Nd Ave E West Fargo, ND 58078

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    • Medical Office Space
    • 11,338 SF
    For Lease
    $20 SF/Yr
    View Listing →
    West Fargo Corner Office Suite For Lease
    $20 SF/Yr
    3,937 SF

    West Fargo Corner Office Suite

    Spacious corner suite with abundant natural light and prime location.

    505 32nd Ave E, West Fargo, ND
    View Listing
    Property ID
    US56-0024398
    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.
    Value Estimations
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Medical Office Space

    Property Details for 505 32Nd Ave E

    Year built
    2018
    Property size
    11,338 SF
    Property type
    Medical Office Space

    Description

    This exceptional 9,300 square foot medical office space is located at 505 32nd Ave E in West Fargo, North Dakota, within Cass County. Built in 2018, this single-story building offers a total of 11,338 square feet, divided into two suites. The available space, totaling 9,300 square feet, presents a significant opportunity for medical professionals or other office users seeking a modern and well-situated location. The property benefits from excellent visibility and accessibility off 32nd Ave E. Its convenient location is complemented by nearby businesses such as Edward Jones, Faith Kids, Maximum Performance & Fitness, and Three Dog Bakery, among others. Previously occupied by Vance Thompson Vision, this space is move-in ready and adaptable to various medical or office needs. The property features a single building with one story and is ideal for a variety of medical practices or office uses. The space is available for lease as a single, large suite. This prime location offers high visibility and easy access for patients and clients. The modern design and ample square footage provide flexibility for customization and efficient workflow. Don't miss this opportunity to establish your practice or business in a thriving West Fargo community.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

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

    Location Insight

    • Map
    • Local Demand
    City
    West Fargo
    County
    Cass
    State
    North Dakota
    Longitude
    -96.890757481426
    Latitude
    46.833170817195

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      West Fargo Corner Office Suite

      Spacious corner suite with abundant natural light and prime location.
      505 32Nd Ave E, West Fargo, ND 58078
      View Details
    • Contact for pricing

      Mixed-Use Center in West Fargo

      Mixed-use shopping center with retail, restaurant, office, and medical spaces.
      1405 Prairie Pkwy, West Fargo, ND 58078
      View Details
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      Mixed-Use Center in West Fargo

      Mixed-use shopping center with retail, restaurant, office, and medical businesses.
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      Remodeled Office Space For Lease

      Second floor office space with recent remodeling and ample parking.
      1042 14Th Ave E, West Fargo, ND 58078
      View Details
    • Contact for pricing

      West Fargo Shop and Office

      Flex, industrial, and office spaces available for rent in West Fargo.
      349 11Th St W, West Fargo, ND 58078
      View Details
    View Listing
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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.

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