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 Market56
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
Listed By:
Patrick Vesey · License #ND 6579
(701) 235-2920
Source:
Crexi
Added: Aug 11
Changed: Oct 4
Last Checked: Oct 4 at 9:48AM
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 / Yr
$285,837
Cap Rate
5.20%
Suggested Prices Based on Cap Rates
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
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 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
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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
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Office in Midwest region
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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
