Leased Retail Condo
For Sale
Contact for pricing
300 Broadway North, Fargo, ND 58102
Purchase three fully leased retail condo units totaling 5,513 square feet in downtown Fargo.
Property Size1,708 SF
Price / SF$263.47
Days on Market131
Property Features for 300 Broadway North
General Information
Standard status
Active
Size
1,708 SF
Property subtype
Retail
Zoning
Commercial
Occupancy
100%
Lease Type
NNN
Net Operating Income
$31,970
Additional Details
Opportunity Zone
Yes
Building Details
Year Built
2007
Listing Agency:
Property Resources Group
Listed By:
Justin Gustofson, CCIM, SIOR · License #9860
(701) 238-7370
Source:
Crexi
Added: Apr 27
Changed: Sep 4
Last Checked: Sep 2 at 12:40AM
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
Investment Insights
Based on property information with market context.
300 Broadway in downtown Fargo offers the opportunity to purchase three separately leased retail condo units. The property is presented as fully leased at the time of sale, providing retail space in a single address with multiple unit sizes.
Unit 101 is 2,738 SF, Unit 102 is 1,067 SF, and Unit 103/104 is 1,708 SF.
The offering notes that Opportunity Zone tax benefits may apply.
Unit 101 is 2,738 SF, Unit 102 is 1,067 SF, and Unit 103/104 is 1,708 SF.
The offering notes that Opportunity Zone tax benefits may apply.
Key Highlights
- Three fully leased retail condo units in downtown Fargo: Unit 101 (2,738 SF), Unit 102 (1,067 SF), and Unit 103/104 (1,708 SF)
- Total retail condo size: 5,513 SF across three units
- Opportunity Zone tax benefits may apply
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
$16,858
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
3.75%
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%
$337,160
$337.2K
Cap Rate 7%
$240,829
$240.8K
Cap Rate 9%
$187,311
$187.3K
Market Conditions
NOI Build-Up for 1,708 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
$25.6K $15.00/SF
− Vacancy
−$1.5K −$0.90/SF
EGI
$24.1K $14.10/SF
− OpEx
−$7.2K −$4.23/SF
NOI
$16.9K $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%
$337,160
Cap Rate 7%
$240,829
Cap Rate 9%
$187,311
Alternative Uses
Best Use
Retail
$240.8K
$210.7K – $281.0K
NOI $16,858 @ 7.0% cap · market cap 3.75%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$370.5K
$324.2K – $432.3K
NOI $25,936 @ 7.0% cap · market cap 5.76%
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
Under-served
Demand for This Use
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 Retail in Midwest region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Storefront property - Purchase three fully leased retail condo units totaling 5,513 square feet in downtown Fargo.
Where is this storefront property located?
The property is located at 300 Broadway North Fargo, ND.
What is the asking price?
The asking price for this property is $450,000.
What are key features of this property?
This property features: Three fully leased retail condo units in downtown Fargo: Unit 101 (2,738 SF), Unit 102 (1,067 SF), and Unit 103/104 (1,708 SF); Total retail condo size: 5,513 SF across three units; Opportunity Zone tax benefits may apply
