Historic Office and Flex
For Sale
Contact for pricing
315 5th St N, Fargo, ND 58102
Historic building constructed in 1927 and renovated in 2018, featuring office space plus flex and manufacturing areas.
Property Size25,000 SF
Price / SF$90
Days on Market838
Property Features for 315 5th St N
General Information
Standard status
Active
Size
25,000 SF
Property subtype
OFFICE
Site & Location
Neighborhood
Horace Mann Neighborhood
Listing Agency:
Horizon Real Estate Group
(701) 478-7600
Listed By:
Brian Tulibaski, MBA
(701) 793-0653
Source:
Moodyscre
Added: Jul 16, 2024
Changed: Oct 25
Last Checked: Oct 30 at 11:21AM
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 Horizon Real Estate Group
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Investment Insights
Based on property information with market context.
This historic building was originally constructed in 1927 and underwent a meticulous renovation in 2018. The property offers office space along with flex and manufacturing space, and it includes a large basement to support additional usable area. The building is currently 100% occupied.
Located at 315 5th St N in Fargo, North Dakota, the offering presents an income-oriented profile for office and related space users. The seller is open to entertaining a leasing-back of some or all of the office space, providing additional flexibility for a buyer’s transition.
With the combination of office, flex, and manufacturing space in a renovated, multi-use historic structure, the building supports a range of operational needs within its existing configuration.
Located at 315 5th St N in Fargo, North Dakota, the offering presents an income-oriented profile for office and related space users. The seller is open to entertaining a leasing-back of some or all of the office space, providing additional flexibility for a buyer’s transition.
With the combination of office, flex, and manufacturing space in a renovated, multi-use historic structure, the building supports a range of operational needs within its existing configuration.
Key Highlights
- Historic 25,000 SF building in Fargo, ND originally constructed in 1927 and renovated in 2018
- 100% occupancy with office/office building use
- Includes office space plus flex and manufacturing space
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$201,630
Cap Rate
8.96%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$4,032,600
$4.0M
Cap Rate 7%
$2,880,429
$2.9M
Cap Rate 9%
$2,240,333
$2.2M
Market Conditions
NOI Build-Up for 25,000 SF
Gross rent
$330.0K $13.20/SF
− Vacancy
−$19.8K −$0.79/SF
EGI
$310.2K $12.41/SF
− OpEx
−$108.6K −$4.34/SF
NOI
$201.6K $8.07/SF
Area
Fargo, ND
Vacancy
6.00%
Lease Rate
$13.20 /SF/Yr
Expense Ratio
35.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$4,032,600
Cap Rate 7%
$2,880,429
Cap Rate 9%
$2,240,333
Alternative Uses
Best Use
Office B
$4.19M
$3.66M – $4.88M
NOI $292,950 @ 7.0% cap · market cap 13.02%
Second Best
Flex RnD
$2.88M
$2.52M – $3.36M
NOI $201,630 @ 7.0% cap · market cap 8.96%
Theoretical Best
Office A
$5.42M
$4.75M – $6.33M
NOI $379,620 @ 7.0% cap · market cap 16.87%
Zoning and permitted uses should be independently verified with authorities.
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Property Analytics
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Current Use
Location Intelligence
Trade Area within ½ mile
3,190
Businesses Nearby
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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
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Market
Vacancy Rate% for Office in Midwest region
Frequently Asked Questions
What type of property is this?
Office building - Historic building constructed in 1927 and renovated in 2018, featuring office space plus flex and manufacturing areas.
Where is this office building located?
The property is located at 315 5th St N Fargo, ND.
What is the asking price?
The asking price for this property is $2,250,000.
What are key features of this property?
This property features: Historic 25,000 SF building in Fargo, ND originally constructed in 1927 and renovated in 2018; 100% occupancy with office/office building use; Includes office space plus flex and manufacturing space
