Historic Downtown Property For
For Sale
Contact for pricing
512 1st Ave N, Fargo, ND
Historic downtown property available for rent in Fargo, North Dakota.
Property Size2,025 SF
Lot Size0.05 Acres
Price / SF$244.44
Days on Market430
Property Features for 512 1st Ave N
General Information
Standard status
Active
Size
2,025 SF
Lot size
0.05 Acres
Property subtype
OFFICE
Listing Agency:
Archer Real Estate Services
(701) 730-0290
Listed By:
Jay Nelson · License #6934
Source:
Moodyscre
Added: May 29, 2025
Changed: Jul 6
Last Checked: Jul 31 at 12:30PM
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 Archer Real Estate Services
Investment Insights
Based on property information with market context.
This historic downtown property, located in Fargo's Renaissance Zone, is available for rent. The property is zoned DMU and features a new roof with 7 skylights. The property has a size of 2025 square feet.
Key Highlights
- Historic downtown property.
- Located in Fargo's Renaissance Zone.
- Zoned DMU (Downtown Mixed Use).
Financial Insights For Office B
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 | $37.7k | $18.60 |
| − Vacancy | −$6.0k | −$2.98 |
| EGI | $31.6k | $15.62 |
| − OpEx | −$7.9k | −$3.91 |
| NOI | $23.7k | $11.72 |
2,025 SF · lease $18.60/SF/yr · vacancy 16.00% · expense 25.00%
Alternative Uses
Best Use
Office B
$339.0K
$296.6K – $395.5K
NOI $23,729 @ 7.0% cap · market cap 4.79%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$439.3K
$384.4K – $512.5K
NOI $30,749 @ 7.0% cap · market cap 6.21%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
3,475
Businesses Nearby
Explore this area
Business Placement
Market
Vacancy Rate% for Office in Midwest region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Office building - Historic downtown property available for rent in Fargo, North Dakota.
Where is this office building located?
The property is located at 512 1st Ave N Fargo, ND.
What is the asking price?
The asking price for this property is $495,000.
What are key features of this property?
This property features: Historic downtown property.; Located in Fargo's Renaissance Zone.; Zoned DMU (Downtown Mixed Use).
