Broadway Frontage Retail
For Sale
$790,000
508 Broadway, Fargo, ND 58102
Retail property with Broadway frontage, individual entrances, and separate bathrooms and utilities across multiple units.
Property Size4,680 SF
Price / SF$168.80
Days on Market267
Property Features for 508 Broadway
General Information
Standard status
Active
Size
4,680 SF
Property subtype
General Commercial
Taxes and HOA fees
Annual Taxes
$8,208
Amenities
3
Parking.
On Street.
Building Details
Year Built
1914
Stories
1
Listing Agency:
Trilogy Real Estate
(218) 766-3044
Listed By:
Trilogy Real Estate
(218) 766-3044
Source:
Xome
Added: Nov 17, 2025
Changed: Aug 8
Last Checked: Aug 11 at 5:31AM
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 Trilogy Real Estate
Investment Insights
Based on property information with market context.
This Broadway retail property in Fargo’s Renaissance Zone offers multiple small-format options with direct individual access. The building provides separate bathrooms and utility services for the spaces, supporting a range of business uses that can operate independently.
The site has four Broadway-addressed entries plus one additional access point to NP Ave, giving tenants flexible frontage and entry configurations depending on their suite selection.
Overall, the property is positioned as a storefront-style investment with on-site individuality for each unit, combining Broadway visibility with direct entry and self-contained restroom and utility provisions where applicable.
The site has four Broadway-addressed entries plus one additional access point to NP Ave, giving tenants flexible frontage and entry configurations depending on their suite selection.
Overall, the property is positioned as a storefront-style investment with on-site individuality for each unit, combining Broadway visibility with direct entry and self-contained restroom and utility provisions where applicable.
Key Highlights
- Located in Fargo’s Renaissance Zone on Broadway.
- Retail property with Broadway frontage and small footprint options.
- Multiple units with direct individual access and separate entrances.
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
$46,192
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
5.85%
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%
$923,840
$923.8K
Cap Rate 7%
$659,886
$659.9K
Cap Rate 9%
$513,244
$513.2K
Market Conditions
NOI Build-Up for 4,680 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
$70.2K $15.00/SF
− Vacancy
−$4.2K −$0.90/SF
EGI
$66.0K $14.10/SF
− OpEx
−$19.8K −$4.23/SF
NOI
$46.2K $9.87/SF
Area
Fargo, ND
Vacancy
6.00%
Lease Rate
$15.00 /SF/Yr
Expense Ratio
30.00%
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%
$923,840
Cap Rate 7%
$659,886
Cap Rate 9%
$513,244
Alternative Uses
Best Use
Retail
$659.9K
$577.4K – $769.9K
NOI $46,192 @ 7.0% cap · market cap 5.85%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.02M
$888.3K – $1.18M
NOI $71,065 @ 7.0% cap · market cap 9.00%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
3,134
Businesses Nearby
Under-served
Demand for This Use
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 Retail in Midwest region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Storefront property - Retail property with Broadway frontage, individual entrances, and separate bathrooms and utilities across multiple units.
Where is this storefront property located?
The property is located at 508 Broadway Fargo, ND.
What is the asking price?
The asking price for this property is $790,000.
What are key features of this property?
This property features: Located in Fargo’s Renaissance Zone on Broadway.; Retail property with Broadway frontage and small footprint options.; Multiple units with direct individual access and separate entrances.
