Multifamily
For Sale
$425,000
1114 University Dr N, Fargo, ND 58102
Multifamily building constructed in 1905 with 3,880 square feet of property area.
Property Size3,880 SF
Price / SF$109.54
Days on Market74
Property Features for 1114 University Dr N
General Information
Standard status
Active
Size
3,880 SF
Property subtype
Multi-Family
Building Details
Year Built
1905
Listing Agency:
Homesmart Adventure Realty
Listed By:
The Elm Group brokered by REAL
(701) 446-7249
Source:
Realelmgroup
Added: Aug 2
Changed: Oct 13
Last Checked: Oct 12 at 7:49PM
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 Homesmart Adventure Realty
Investment Insights
Based on property information with market context.
This multifamily property at 1114 University Dr N provides 3,880 square feet of property area in a building constructed in 1905. The asset is classified within the multifamily property category and is offered for sale.
The property is located in Fargo, North Dakota, with an address on University Dr N. Its early construction date and multifamily classification define the core physical and investment profile of the offering.
The property is located in Fargo, North Dakota, with an address on University Dr N. Its early construction date and multifamily classification define the core physical and investment profile of the offering.
Key Highlights
- 3,880 square feet of property area
- Building constructed in 1905
- Multifamily property classification
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$32,082
Cap Rate
7.55%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$641,640
$641.6K
Cap Rate 7%
$458,314
$458.3K
Cap Rate 9%
$356,467
$356.5K
Market Conditions
NOI Build-Up for 3,880 SF
Gross rent
$62.9K $16.20/SF
− Vacancy
−$4.5K −$1.17/SF
EGI
$58.3K $15.03/SF
− OpEx
−$26.2K −$6.77/SF
NOI
$32.1K $8.27/SF
Area
Fargo, ND
Vacancy
7.20%
Lease Rate
$16.20 /SF/Yr
Expense Ratio
45.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$641,640
Cap Rate 7%
$458,314
Cap Rate 9%
$356,467
Alternative Uses
Best Use
Apartment 5plus
$458.3K
$401.0K – $534.7K
NOI $32,082 @ 7.0% cap · market cap 7.55%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$841.7K
$736.5K – $982.0K
NOI $58,917 @ 7.0% cap · market cap 13.86%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
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Current Use
Location Intelligence
Trade Area within ½ mile
986
Businesses Nearby
Explore this area
Business Placement
Demographics for 58102, ND
30,767
Population
16,757
Households
1.8
Avg Household Size
32
Median Age
45%
College-Educated
95%
High-School Grad
31.6 sq mi
ZIP Area
974
Density / Sq Mi
$56,028
Median Household Income
$31,939
Median Earnings
$829
Median Rent
$235,600
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Multifamily in Midwest region
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Frequently Asked Questions
What type of property is this?
Multifamily property - Multifamily building constructed in 1905 with 3,880 square feet of property area.
Where is this multifamily property located?
The property is located at 1114 University Dr N Fargo, ND.
What is the asking price?
The asking price for this property is $425,000.
What are key features of this property?
This property features: 3,880 square feet of property area; Building constructed in 1905; Multifamily property classification
