First-Floor Office
For Sale
Contact for pricing
1220 Main Ave Suite 100, Fargo, ND 58102
Two furnished office condos offer private rooms, natural light, and on-site parking at a visible corner location.
Property Size3,746 SF
Price / SF$149.49
Days on Market199
Property Features for 1220 Main Ave Suite 100
General Information
Standard status
Active
Size
3,746 SF
Property subtype
Office
Investment Type
Owner/User
Space & Availability
Floor
1
Furnished
Yes
Additional Details
Office Units
2
Building Details
Year Built
1983
Units
2
Listing Agency:
Goldmark Commercial Real Estate Inc
(701) 235-2900
Listed By:
Andrew Hanson · License #ND 11052
Source:
Crexi
Added: Feb 12
Changed: Aug 29
Last Checked: Aug 29 at 11:09PM
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 Goldmark Commercial Real Estate Inc
Investment Insights
Based on property information with market context.
The offering comprises two first-floor office condos totaling 3,746 square feet within the Main Ave Professional Building. The space is move-in ready and includes furniture, fixtures, and equipment. Private offices receive southern exposure and natural light, supporting a range of professional office configurations. Recent improvements include a new roof, HVAC system, and upgraded landscaping.
Positioned at the corner of Main Ave and University Dr, the property has visibility to approximately 12,500 vehicles per day. The address is near downtown Fargo and includes ample on-site parking. The office layout and existing improvements support professional, medical, legal, accounting, financial services, insurance, and consulting uses identified in the property information.
Positioned at the corner of Main Ave and University Dr, the property has visibility to approximately 12,500 vehicles per day. The address is near downtown Fargo and includes ample on-site parking. The office layout and existing improvements support professional, medical, legal, accounting, financial services, insurance, and consulting uses identified in the property information.
Key Highlights
- Two first‑floor office condos with a combined 3,746 square feet
- Furniture, fixtures, and equipment included in the sale
- Private offices with southern exposure and abundant natural light
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
$43,896
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
7.84%
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%
$877,920
$877.9K
Cap Rate 7%
$627,086
$627.1K
Cap Rate 9%
$487,733
$487.7K
Market Conditions
NOI Build-Up for 3,746 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
$69.7K $18.60/SF
− Vacancy
−$11.1K −$2.98/SF
EGI
$58.5K $15.62/SF
− OpEx
−$14.6K −$3.91/SF
NOI
$43.9K $11.72/SF
Area
Fargo, ND
Vacancy
16.00%
Lease Rate
$18.60 /SF/Yr
Expense Ratio
25.00%
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%
$877,920
Cap Rate 7%
$627,086
Cap Rate 9%
$487,733
Alternative Uses
Best Use
Office B
$627.1K
$548.7K – $731.6K
NOI $43,896 @ 7.0% cap · market cap 7.84%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$812.6K
$711.0K – $948.0K
NOI $56,882 @ 7.0% cap · market cap 10.16%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
2
Office units
Location Intelligence
Trade Area within ½ mile
2,200
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
Market
Vacancy Rate% for Office in Midwest region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Office units - Two furnished office condos offer private rooms, natural light, and on-site parking at a visible corner location.
Where is this office units located?
The property is located at 1220 Main Ave Suite 100 Fargo, ND.
What is the asking price?
The asking price for this property is $560,000.
What are key features of this property?
This property features: Two first‑floor office condos with a combined 3,746 square feet; Furniture, fixtures, and equipment included in the sale; Private offices with southern exposure and abundant natural light
