Renovated Four-Story Office
For Sale
Contact for pricing
318 Broadway N, Fargo, ND 58102
Downtown workspace pairs updated interiors with retained architectural character and on-site parking.
Property Size24,393 SF
Price / SF$225.47
Days on Market10
Property Features for 318 Broadway N
General Information
Standard status
Active
Size
24,393 SF
Total Parking Spaces
33
Property subtype
Office
Building Details
Year Built
1955
Year Renovated
2019
Buildings
1
Stories
4
Tenancy
Single
Listing Agency:
Goldmark Commercial Real Estate Inc
(701) 235-2920
Listed By:
Patrick Vesey · License #ND 6579
Source:
Crexi
Added: Aug 11
Changed: Aug 18
Last Checked: Aug 19 at 6:17AM
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 Goldmark Commercial Real Estate Inc
Investment Insights
Based on property information with market context.
Located at 318 Broadway N in downtown Fargo, this four-story office building provides 24,393 square feet of commercial workspace. The property was originally constructed in 1955 and underwent a complete renovation in 2019, combining contemporary office improvements with the character of its earlier construction.
The sale includes an adjacent parking lot with 30 stalls, a notable on-site convenience for an office property in the downtown business district. The building sits next to the historic Fargo Theatre and is surrounded by restaurants, retail, and entertainment venues.
The sale includes an adjacent parking lot with 30 stalls, a notable on-site convenience for an office property in the downtown business district. The building sits next to the historic Fargo Theatre and is surrounded by restaurants, retail, and entertainment venues.
Key Highlights
- 24,393‑square‑foot, four‑story office building at 318 Broadway N, Fargo, ND 58102
- Originally built in 1955 and completely renovated in 2019
- Adjacent parking lot included as part of the sale
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
$285,837
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
5.20%
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%
$5,716,740
$5.7M
Cap Rate 7%
$4,083,386
$4.1M
Cap Rate 9%
$3,175,967
$3.2M
Market Conditions
NOI Build-Up for 24,393 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
$453.7K $18.60/SF
− Vacancy
−$72.6K −$2.98/SF
EGI
$381.1K $15.62/SF
− OpEx
−$95.3K −$3.91/SF
NOI
$285.8K $11.72/SF
Area
Fargo, ND
Vacancy
16.00%
Lease Rate
$18.60 /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%
$5,716,740
Cap Rate 7%
$4,083,386
Cap Rate 9%
$3,175,967
Alternative Uses
Best Use
Office B
$4.08M
$3.57M – $4.76M
NOI $285,837 @ 7.0% cap · market cap 5.20%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$5.29M
$4.63M – $6.17M
NOI $370,403 @ 7.0% cap · market cap 6.73%
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
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 Office in Midwest region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Office building - Downtown workspace pairs updated interiors with retained architectural character and on-site parking.
Where is this office building located?
The property is located at 318 Broadway N Fargo, ND.
What is the asking price?
The asking price for this property is $5,500,000.
What are key features of this property?
This property features: 24,393‑square‑foot, four‑story office building at 318 Broadway N, Fargo, ND 58102; Originally built in 1955 and completely renovated in 2019; Adjacent parking lot included as part of the sale
