Mixed-Use Office/Retail
For Sale
$2,950,000
222 Broadway N, Fargo, ND 58102
Multiple leasable commercial units offer office and retail functionality with central air and no on-site parking.
Property Size15,818 SF
Price / SF$186.50
Days on Market415
Property Features for 222 Broadway N
General Information
Standard status
Active
Size
15,818 SF
Property subtype
General Commercial
Taxes and HOA fees
Annual Taxes
$24,762
Amenities
Central Air
3
No Parking.
Building Details
Year Built
1949
Stories
2
Listing Agency:
252632
(701) 541-7192
Listed By:
Tyler Bretz
(701) 541-7192
Source:
Xome
Added: Jul 12, 2025
Changed: Aug 30
Last Checked: Aug 30 at 11:43AM
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 252632
Investment Insights
Based on property information with market context.
This mixed-use commercial building contains 15,818 square feet and was constructed in 1949. The property includes 14 leasable office and retail units, providing a multi-suite configuration within a single building. Central air is included, while the property has no on-site parking.
Located at 222 Broadway N in Downtown Fargo, the asset combines office and retail space in an established downtown setting. The existing layout supports separate commercial units for leasing or occupancy across the building.
Located at 222 Broadway N in Downtown Fargo, the asset combines office and retail space in an established downtown setting. The existing layout supports separate commercial units for leasing or occupancy across the building.
Key Highlights
- 15,818‑square‑foot mixed‑use commercial building
- 14 leasable office and retail units
- Constructed in 1949
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
$185,355
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
6.28%
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%
$3,707,100
$3.7M
Cap Rate 7%
$2,647,929
$2.6M
Cap Rate 9%
$2,059,500
$2.1M
Market Conditions
NOI Build-Up for 15,818 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
$294.2K $18.60/SF
− Vacancy
−$47.1K −$2.98/SF
EGI
$247.1K $15.62/SF
− OpEx
−$61.8K −$3.91/SF
NOI
$185.4K $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%
$3,707,100
Cap Rate 7%
$2,647,929
Cap Rate 9%
$2,059,500
Alternative Uses
Best Use
Office B
$2.65M
$2.32M – $3.09M
NOI $185,355 @ 7.0% cap · market cap 6.28%
Second Best
Retail
$2.23M
$1.95M – $2.60M
NOI $156,124 @ 7.0% cap · market cap 5.29%
Theoretical Best
Office A
$3.43M
$3.00M – $4.00M
NOI $240,193 @ 7.0% cap · market cap 8.14%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
3,407
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
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Mixed-use property - Multiple leasable commercial units offer office and retail functionality with central air and no on-site parking.
Where is this mixed-use property located?
The property is located at 222 Broadway N Fargo, ND.
What is the asking price?
The asking price for this property is $2,950,000.
What are key features of this property?
This property features: 15,818‑square‑foot mixed‑use commercial building; 14 leasable office and retail units; Constructed in 1949
