Mixed-Use Property with
For Sale
Contact for pricing
23 8th Street South, Fargo, ND 58103
Historic mixed-use building combines commercial space, apartments, and a separate private parking lot.
Property Size15,000 SF
Price / SF$140
Days on Market47
Property Features for 23 8th Street South
General Information
Standard status
Active
Size
15,000 SF
Class
B
Total Parking Spaces
26
Property subtype
Mixed Use
Zoning
P - Apartment
Lease Type
Gross
Investment Type
Owner/User
Net Operating Income
$91,419
Additional Details
Multifamily Units
9
Amenities
private parking lot
Building Details
Year Built
1901
Year Renovated
2017
Buildings
2
Units
13
Tenancy
Multi
Listing Agency:
Baumbach Real Estate
Listed By:
Jory Baumbach · License #ND 8772
(701) 541-1541
Source:
Crexi
Added: Aug 20
Changed: Oct 2
Last Checked: Oct 5 at 5:53PM
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 Baumbach Real Estate
Investment Insights
Based on property information with market context.
Constructed in 1901, this 15,000-square-foot mixed-use property combines four commercial spaces with nine residential apartments. The configuration brings retail or other commercial occupancy together with residential units in one building, supported by a separate private parking lot.
The property is located in Downtown Fargo at 23 8th Street South, Fargo, ND 58103. The site includes 26 parking spaces, providing dedicated parking for the mixed-use operation. Zoning is P - Apartment.
The property is located in Downtown Fargo at 23 8th Street South, Fargo, ND 58103. The site includes 26 parking spaces, providing dedicated parking for the mixed-use operation. Zoning is P - Apartment.
Key Highlights
- 15,000‑square‑foot mixed‑use property in Downtown Fargo
- Four commercial spaces and nine residential apartments
- Separate private parking lot with 26 spaces
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$148,050
Cap Rate
7.05%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$2,961,000
$3.0M
Cap Rate 7%
$2,115,000
$2.1M
Cap Rate 9%
$1,645,000
$1.6M
Market Conditions
NOI Build-Up for 15,000 SF
Gross rent
$225.0K $15.00/SF
− Vacancy
−$13.5K −$0.90/SF
EGI
$211.5K $14.10/SF
− OpEx
−$63.5K −$4.23/SF
NOI
$148.1K $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 Rate 5%
$2,961,000
Cap Rate 7%
$2,115,000
Cap Rate 9%
$1,645,000
Alternative Uses
Best Use
Retail
$2.12M
$1.85M – $2.47M
NOI $148,050 @ 7.0% cap · market cap 7.05%
Second Best
Mixed Use
$1.90M
$1.66M – $2.22M
NOI $133,088 @ 7.0% cap · market cap 6.34%
Theoretical Best
Office A
$3.25M
$2.85M – $3.80M
NOI $227,772 @ 7.0% cap · market cap 10.85%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
9
Residential units
Location Intelligence
Trade Area within ½ mile
2,695
Businesses Nearby
Explore this area
Business Placement
Demographics for 58103, ND
46,754
Population
25,241
Households
1.9
Avg Household Size
36
Median Age
37%
College-Educated
93%
High-School Grad
11.5 sq mi
ZIP Area
4,066
Density / Sq Mi
$57,699
Median Household Income
$38,241
Median Earnings
$831
Median Rent
$239,200
Median Home Value
Market
Vacancy Rate% for Multifamily in Midwest region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Mixed-use property - Historic mixed-use building combines commercial space, apartments, and a separate private parking lot.
Where is this mixed-use property located?
The property is located at 23 8th Street South Fargo, ND.
What is the asking price?
The asking price for this property is $2,100,000.
What are key features of this property?
This property features: 15,000‑square‑foot mixed‑use property in Downtown Fargo; Four commercial spaces and nine residential apartments; Separate private parking lot with 26 spaces
