Historic Mixed-Use Building Near
For Sale
Contact for pricing
Pending
117-119 Broadway N, Fargo, ND
Mixed-use building with retail and residential units near Broadway.
Property Size5,736 SF
Lot Size0.24 Acres
Days on Market839
Property Features for 117-119 Broadway N
General Information
Standard status
Pending
Size
5,736 SF
Lot size
0.24 Acres
Property subtype
RETAIL
Listing Agency:
Property Resources Group
(701) 499-3875
Listed By:
Justin Gustofson
(701) 238-7370
Source:
Moodyscre
Added: Jul 1, 2024
Changed: Oct 11
Last Checked: Oct 16 at 11:16AM
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 Property Resources Group
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Review the available facts, identify missing information and prepare questions for the agent.
Investment Insights
Based on property information with market context.
The historic Bostad building is located less than a block from Broadway Square. The property benefits from steady foot traffic due to its location in downtown Fargo, which has 5,000 residents and 20,000 employees. The building includes residential condos above a windowed storefront. The property is currently 100% occupied. The property size is 5,736 square feet. Opportunity Zone tax benefits may apply.
Key Highlights
- High‑impact exposure from steady foot traffic.
- Located less than a block from Broadway Square.
- Investment property in downtown Fargo.
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$56,614
Cap Rate
5.10%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,132,280
$1.1M
Cap Rate 7%
$808,771
$808.8K
Cap Rate 9%
$629,044
$629.0K
Market Conditions
NOI Build-Up for 5,736 SF
Gross rent
$86.0K $15.00/SF
− Vacancy
−$5.2K −$0.90/SF
EGI
$80.9K $14.10/SF
− OpEx
−$24.3K −$4.23/SF
NOI
$56.6K $9.87/SF
Area
Fargo, ND
Vacancy
6.00%
Lease Rate
$15.00 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,132,280
Cap Rate 7%
$808,771
Cap Rate 9%
$629,044
Alternative Uses
Best Use
Retail
$808.8K
$707.7K – $943.6K
NOI $56,614 @ 7.0% cap · market cap 5.10%
Second Best
Apartment 5plus
$677.5K
$592.9K – $790.5K
NOI $47,428 @ 7.0% cap · market cap 4.27%
Theoretical Best
Office A
$1.24M
$1.09M – $1.45M
NOI $87,100 @ 7.0% cap · market cap 7.85%
Zoning and permitted uses should be independently verified with authorities.
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Property Analytics
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Open Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
3,475
Businesses Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Multifamily in Midwest region
Frequently Asked Questions
What type of property is this?
Storefront property - Mixed-use building with retail and residential units near Broadway.
Where is this storefront property located?
The property is located at 117-119 Broadway N Fargo, ND.
What is the asking price?
The asking price for this property is $1,110,000.
What are key features of this property?
This property features: High‑impact exposure from steady foot traffic.; Located less than a block from Broadway Square.; Investment property in downtown Fargo.
