Listing Agency: JBC Commercial Show Phone

Listed By: Karsten Broadley Show Phone

Source: Moodyscre

Added: Aug 25 Changed: Oct 13 Last Checked: Oct 16 at 10:00AM

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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.

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 / Yr

$34,572

Cap Rate

3.01%

Suggested Prices Based on Cap Rates

Cap Rate 5%

$691,440 $691.4K

Cap Rate 7%

$493,886 $493.9K

Cap Rate 9%

$384,133 $384.1K

Is this asking price fair?

Market Conditions

NOI Build-Up for 3,011 SF

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 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 (±1% cap)

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 (±1% cap)

NOI $45,721 @ 7.0% cap · market cap 3.98%

Zoning and permitted uses should be independently verified with authorities. How Realmo checks its estimates

Property Analytics

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Current Use

Hardee's Restaurant

Suggested Use

Top Pick Pharmacy Barber Shop Auto Parts Store Catering Service Home Appliance Store Parking Lot & Garage

Score = modeled unmet demand for each use within ~1 mi (higher = bigger opportunity). Zoning and permitted uses should be independently verified with local authorities.

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

8% 2020

7.3% 2021

6.5% 2022

6% 2023

5.7% 2024

6.3% 2025

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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