Retail Space with Specialized
For Sale
Contact for pricing
615 9th Ave S, Fargo, ND
Retail property featuring advanced systems and ample electrical supply.
Property Size1,728 SF
Lot Size0.05 Acres
Price / SF$153.36
Days on Market481
Property Features for 615 9th Ave S
General Information
Standard status
Active
Size
1,728 SF
Lot size
0.05 Acres
Property subtype
RETAIL
Lease Type
Modified Gross
Properties For Sale
at 615 9th Ave S Contact us- Floor
- Bldg
- Size
- 1,728 SF
- Type
- RETAIL
- Lease Type
- MODIFIED_GROSS
- Availability
- AVAILABLE, Now
- Sublease
- No
615 9th Ave S
- Commercial Studio for Sale or Lease – Your Creative Haven Awaits!
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Listing Agency:
JBC Commercial
(701) 936-8172
Listed By:
Brittaney VanderHagen
Source:
Moodyscre
Added: Apr 18, 2025
Changed: Aug 8
Last Checked: Aug 11 at 11:21AM
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 JBC Commercial
Investment Insights
Based on property information with market context.
This 1,728 square foot retail property features a state-of-the-art jet dust collection system and an advanced Wen filtration system. It is equipped with a 240 AMP electrical supply, a compressor, and special electrical wiring suitable for kiln use. The property also includes a dedicated spray booth, two restrooms, and a washer and dryer.
Key Highlights
- State‑of‑the‑art jet dust collection system installed.
- Features an advanced Wen filtration system.
- Boasts a robust 240 AMP electrical supply.
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$17,055
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
6.44%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$341,100
$341.1K
Cap Rate 7%
$243,643
$243.6K
Cap Rate 9%
$189,500
$189.5K
Market Conditions
NOI Build-Up for 1,728 SF
Vacancy — income lost from leasable area expected to sit empty during the year, subtracted from gross rent.
EGI (Effective Gross Income) — gross rent minus vacancy losses, the realistic income before paying operating costs.
OpEx (Operating Expenses) — recurring costs to operate the property (property tax, insurance, utilities, maintenance, management); excludes financing and capital improvements.
NOI (Net Operating Income) — income a property generates after operating costs but before financing and taxes.
Gross rent
$25.9K $15.00/SF
− Vacancy
−$1.6K −$0.90/SF
EGI
$24.4K $14.10/SF
− OpEx
−$7.3K −$4.23/SF
NOI
$17.1K $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 rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$341,100
Cap Rate 7%
$243,643
Cap Rate 9%
$189,500
Alternative Uses
Best Use
Retail
$243.6K
$213.2K – $284.3K
NOI $17,055 @ 7.0% cap · market cap 6.44%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$374.8K
$328.0K – $437.3K
NOI $26,239 @ 7.0% cap · market cap 9.90%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
678
Businesses Nearby
Explore this area
Business Placement
Market
Vacancy Rate% for Retail in Midwest region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Retail space - Retail property featuring advanced systems and ample electrical supply.
Where is this retail space located?
The property is located at 615 9th Ave S Fargo, ND.
What is the asking price?
The asking price for this property is $265,000.
What are key features of this property?
This property features: State‑of‑the‑art jet dust collection system installed.; Features an advanced Wen filtration system.; Boasts a robust 240 AMP electrical supply.
