High-Exposure Corner Commercial
For Sale
Contact for pricing
Pending
3803/3817 Main Ave, Fargo, ND 58103
Versatile commercial property with office, showroom, and warehouse space.
Property Size13,275 SF
Lot Size2.70 Acres
Days on Market196
Property Features for 3803/3817 Main Ave
General Information
Standard status
Pending
Size
13,275 SF
Lot size
2.70 Acres
Property subtype
Retail, Office, Industrial
Zoning
General Commercial
Building Details
Year Built
2016
Stories
2
Listing Agency:
Goldmark Commercial Real Estate Inc
(701) 235-2920
Listed By:
Andy Westby · License #ND 9120
Source:
Crexi
Added: Jan 28
Changed: Aug 8
Last Checked: Jul 24 at 9:29AM
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.
This property is strategically positioned at the high-exposure corner of Main Avenue and Interstate 29, benefiting from significant traffic flow (55,000 vehicles per day on I-29 and 24,000 on Main Avenue). Constructed by Olaf Anderson, the property combines premium finishes with functional space. It features a versatile layout that includes expansive office and showroom space, along with a fully-sprinkled, dock-accessible warehouse. The property is suitable for businesses seeking visibility, space, and expansion potential. Additional amenities include a finished outdoor patio and an elevated deck. The property includes over 2.7 acres of space with an adjacent vacant lot, providing ample room for expansion, outside parking, or storage. The building has a total size of 13,275 square feet. This well-maintained property will be available in the summer of 2026.
Key Highlights
- High‑exposure corner location at Main Avenue and Interstate 29 (55k vehicles/day on I‑29, 24k on Main Ave).
- Versatile layout with expansive office/showroom space and dock‑accessible warehouse.
- Over 2.7 acres of space with adjacent vacant lot for expansion or parking/storage.
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
$155,556
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
5.27%
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%
$3,111,120
$3.1M
Cap Rate 7%
$2,222,229
$2.2M
Cap Rate 9%
$1,728,400
$1.7M
Market Conditions
NOI Build-Up for 13,275 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
$246.9K $18.60/SF
− Vacancy
−$39.5K −$2.98/SF
EGI
$207.4K $15.62/SF
− OpEx
−$51.9K −$3.91/SF
NOI
$155.6K $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%
$3,111,120
Cap Rate 7%
$2,222,229
Cap Rate 9%
$1,728,400
Alternative Uses
Best Use
Office B
$2.22M
$1.94M – $2.59M
NOI $155,556 @ 7.0% cap · market cap 5.27%
Second Best
Retail
$1.87M
$1.64M – $2.18M
NOI $131,024 @ 7.0% cap · market cap 4.44%
Theoretical Best
Office A
$2.88M
$2.52M – $3.36M
NOI $201,578 @ 7.0% cap · market cap 6.83%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
481
Businesses Nearby
Explore this area
Business Placement
Demographics for 58103, ND
46,754
Population
25,241
Households
1.9
Avg Household Size
36
Median Age
37%
College-Educated
93%
High-School Grad
11.5 sq mi
ZIP Area
4,066
Density / Sq Mi
$57,699
Median Household Income
$38,241
Median Earnings
$831
Median Rent
$239,200
Median Home Value
Market
Vacancy Rate% for Office in Midwest region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Mixed-use property - Versatile commercial property with office, showroom, and warehouse space.
Where is this mixed-use property located?
The property is located at 3803/3817 Main Ave Fargo, ND.
What is the asking price?
The asking price for this property is $2,950,000.
What are key features of this property?
This property features: High‑exposure corner location at Main Avenue and Interstate 29 (55k vehicles/day on I‑29, 24k on Main Ave).; Versatile layout with expansive office/showroom space and dock‑accessible warehouse.; Over 2.7 acres of space with adjacent vacant lot for expansion or parking/storage.
