Freestanding Drive-Through
For Sale
Contact for pricing
3072 45th St S, Fargo, ND 58104
Former quick-service restaurant with established drive-through improvements and on-site parking in a retail corridor.
Property Size3,011 SF
Price / SF$381.93
Days on Market9
Property Features for 3072 45th St S
General Information
Standard status
Active
Size
3,011 SF
Property subtype
RETAIL
Additional Details
Drive-Thru
Yes
Listing Agency:
JBC Commercial
(701) 929-6000
Listed By:
Karsten Broadley
(218) 431-0537
Source:
Moodyscre
Added: Aug 25
Changed: Sep 1
Last Checked: Sep 2 at 3:04PM
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 freestanding restaurant property contains 3,011 square feet and was formerly occupied by Hardee’s. The building includes an existing drive-through configuration and on-site parking, providing core improvements for continued restaurant use or a future repositioning.
The property is located on 45th Street South in Fargo within an established commercial corridor characterized by surrounding retail activity. Its location provides access from both Fargo and West Fargo, while the corridor offers exposure along a heavily traveled north-south route. The site is offered for sale or lease and may accommodate an owner-user, tenant, or investor seeking a restaurant building with existing drive-through infrastructure.
The property is located on 45th Street South in Fargo within an established commercial corridor characterized by surrounding retail activity. Its location provides access from both Fargo and West Fargo, while the corridor offers exposure along a heavily traveled north-south route. The site is offered for sale or lease and may accommodate an owner-user, tenant, or investor seeking a restaurant building with existing drive-through infrastructure.
Key Highlights
- 3,011‑square‑foot freestanding restaurant building
- Former Hardee’s location with existing drive‑through configuration
- On‑site parking
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
$34,572
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
3.01%
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%
$691,440
$691.4K
Cap Rate 7%
$493,886
$493.9K
Cap Rate 9%
$384,133
$384.1K
Market Conditions
NOI Build-Up for 3,011 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
$48.8K $16.20/SF
− Vacancy
−$2.7K −$0.89/SF
EGI
$46.1K $15.31/SF
− OpEx
−$11.5K −$3.83/SF
NOI
$34.6K $11.48/SF
Area
Fargo, ND
Vacancy
5.50%
Lease Rate
$16.20 /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%
$691,440
Cap Rate 7%
$493,886
Cap Rate 9%
$384,133
Alternative Uses
Best Use
Specialty Retail
$493.9K
$432.2K – $576.2K
NOI $34,572 @ 7.0% cap · market cap 3.01%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$653.2K
$571.5K – $762.0K
NOI $45,721 @ 7.0% cap · market cap 3.98%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
1,008
Businesses Nearby
Explore this area
Business Placement
Demographics for 58104, ND
48,150
Population
21,847
Households
2.2
Avg Household Size
32
Median Age
49%
College-Educated
98%
High-School Grad
28.0 sq mi
ZIP Area
1,720
Density / Sq Mi
$85,014
Median Household Income
$51,148
Median Earnings
$1,087
Median Rent
$346,100
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?
Drive through restaurant - Former quick-service restaurant with established drive-through improvements and on-site parking in a retail corridor.
Where is this drive through restaurant located?
The property is located at 3072 45th St S Fargo, ND.
What is the asking price?
The asking price for this property is $1,150,000.
What are key features of this property?
This property features: 3,011‑square‑foot freestanding restaurant building; Former Hardee’s location with existing drive‑through configuration; On‑site parking
