Condominium Apartment
3217 15th Avenue S Fargo, ND 58103
3217 15th Avenue S, Fargo, ND, 58103
$1,200,000
For Sale
$1,200,000
Well-maintained condominium building with eight units and assigned garage stalls for convenient tenant parking.
Property Size7,904 SF
Price / SF$151.82
Days on Market374
Property Features for 3217 15th Avenue S
General Information
- Standard status
- Active
- Size
- 7,904 SF
- Property subtype
- General Commercial
Building Details
- Year Built
- 1983
Listing agency
252632
(701) 371-3294
Listed by
Brandon Raboin
(701) 371-3294
Source
Xome
Added: Jul 14, 2025 Updated: Jul 21 at 2:13AM Checked: Jul 21 at 3:14AM
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 252632
Investment Insights
Based on property information with market context.
This well-maintained condominium apartment building for sale is situated at 3217 15th Avenue S in Fargo, ND. The property totals 7,904 square feet and contains eight individual condominium units.
Each unit is described as offering a functional 2-bedroom, 2-bathroom layout and includes an assigned garage stall. The building also shows a consistent occupancy history, and detailed financial statements are available upon request for qualified investors.
Each unit is described as offering a functional 2-bedroom, 2-bathroom layout and includes an assigned garage stall. The building also shows a consistent occupancy history, and detailed financial statements are available upon request for qualified investors.
Key Highlights
- Condominium building with 8 individual units
- Total building size of 7,904 SF, with 988 SF per unit
- Units feature 2‑bedroom, 2‑bathroom layouts
Local Financial Insights For Apartment 5plus
Simulate Cap Rate and NOI
NOI Build-Up
- 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.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $128.0k | $16.20 |
| − Vacancy | −$9.2k | −$1.17 |
| EGI | $118.8k | $15.03 |
| − OpEx | −$53.5k | −$6.77 |
| NOI | $65.4k | $8.27 |
7,904 SF · lease $16.20/SF/yr · vacancy 7.20% · expense 45.00%
Alternative Uses
Best Use
Apartment 5plus
$933.6K
$816.9K – $1.09M
NOI $65,354 @ 7.0% cap · market cap 5.45%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.71M
$1.50M – $2.00M
NOI $120,021 @ 7.0% cap · market cap 10.00%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Location Intelligence
Current Use by Public Records
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FAQs
What type of property is this?
Apartment building - Well-maintained condominium building with eight units and assigned garage stalls for convenient tenant parking.
Where is this apartment building located?
The property is located at 3217 15th Avenue S Fargo, ND.
What is the asking price?
The asking price for this property is $1,200,000.
What are key features of this property?
This property features: Condominium building with 8 individual units; Total building size of 7,904 SF, with 988 SF per unit; Units feature 2‑bedroom, 2‑bathroom layouts
