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    3501 13th Ave S Fargo, ND 58103

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    For Lease
    Contact for pricing

    Auto repair shop with 6 bays in Meineke building.

    Type:Retail
    Added:
    Jul 21, 2022
    Days on Market:
    1352
    Last Refresh:
    Mar 16 at 10:20 am

    Property Features for 3501 13th Ave S

    General Information

    Standard status
    Active
    Property subtype
    Retail

    Building Details

    Year Built
    2004

    Spaces For Lease

    at 3501 13th Ave S Contact us

    Auto Repair Shop $15 /Mo

    Size
    6,451 SF
    Type
    Retail
    Turn Key Auto Repair Shop leasing in busy Fargo location.
    Contact us

    We can help!

    Listing Contact
    Dan Sturlaugson
    Dan Sturlaugson

    Listing agent Dan Sturlaugson License #ND 7266

    Listing office Brokers Commercial Property LLC

    Listing date Jul 21, 2022

    Source Crexi

    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 Brokers Commercial Property LLC

    Overview

    Turn Key Auto Repair Shop

    This turn-key auto repair shop is available for lease in the well-known Meineke building, situated on the bustling 13th Avenue marketplace. The repair shop features 21-foot ceilings, six bays, infrared heating, new LED lighting, and three-phase electrical service. Located on a corner lot with a cross-access easement and south exposure, the property benefits from high visibility, substantial traffic flow, and close proximity to Interstate 29. The front of the establishment includes a reception area, office, and two restrooms. Repair shop amenities consist of a breakroom with a staff bathroom, an eyewash station, and an exhaust make-up air vent. Notable shop attributes include six 10 x 12 bay doors, new LED lighting in the work bays, and infrared heating. The air compressor station is wired for 220-volt electrical. Property amenities include five lift stations, one alignment bay, a 3600 CFM exhaust venting fan, piped compressed air in all bays, peripheral compressed air, infrared heating, and LED lights. An expansive 900-square-foot mezzanine is available for storage needs. The property also includes access to a pole sign on 13th Avenue.
    Location Intelligence

    Current Use by Public Records

    U-Haul Neighborhood Dealer Car Rental Facility Smokes 4 less ... (Bike/Boat/Book/etc) Store Smokes4less (Bike/Boat/Book/etc) Store

    Suggested Use

    Restaurant Real Estate Agency Law Firm Building Supply Spa & Massage Center Dental Office Big Box & Wholesale Store Auto Repair Shop Hair Salon Nail Salon

    Zoning and permitted uses should be independently verified with local authorities.

    Similar Places Nearby

    • Matt's Automotive Service Center — 3441 13th ave s, fargo, nd 58103
    • Kennedy Transmission Brake & Auto Service — 2825 13th Ave S, Fargo, ND 58103
    • Jiffy Lube — 2835 13th Ave S, Fargo, ND 58103
    • Good Year — 3401 13th Ave S, Fargo, ND 58103
    • Schumacher Goodyear - Auto, Tire & Brake Service — 3401 13th Ave S, Fargo, ND 58103

    Location Insight

    • Map
    • Local Demand
    City
    Fargo
    County
    Cass
    State
    North Dakota
    Longitude
    -96.83775
    Latitude
    46.8622439

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    FAQs

    What type of property is this?
    Auto shop - Auto repair shop with 6 bays in Meineke building.
    Where is this auto shop located?
    The property is located at 3501 13th Ave S Fargo, ND.
    What are key features of this property?
    This property features: Prime location on bustling 13th Avenue with high visibility and substantial traffic flow.; Turn‑key auto repair shop with **6 bays and five lift stations, including one alignment bay.**; **21’ ceilings, new LED lighting, and infrared heating** in the work bays.
    (701) 893-2300
    We can help!
    Listing Contact
    Dan Sturlaugson
    Dan Sturlaugson
    Real Estate License ID: ND 7266
    Learn More
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    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
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