Historic Office Building with
For Sale
Contact for pricing
Pending
64 4th St N, Fargo, ND 58102
Historic building with natural light, original brick, and fit-up office space on the 2nd and 3rd floors.
Property Size20,210 SF
Days on Market808
Property Features for 64 4th St N
General Information
Standard status
Pending
Size
20,210 SF
Total Parking Spaces
32
Property subtype
OFFICE
Additional Details
Opportunity Zone
Yes
Building Details
Stories
3
Listing Agency:
Property Resources Group
(701) 499-3875
Listed By:
Justin Gustofson
(701) 238-7370
Source:
Moodyscre
Added: Jul 1, 2024
Changed: Sep 5
Last Checked: Sep 15 at 10:20AM
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 Property Resources Group
Investment Insights
Based on property information with market context.
The Loudon Building is a historic downtown Fargo office property featuring natural light with exposed wood and original brick. The first floor is currently occupied by Botanical Brothers, and the 2nd and 3rd floors are fit up as office space.
The offering also includes a parking lot to the west with 32 parking spots.
Opportunity Zone tax benefits may apply, depending on eligibility.
The offering also includes a parking lot to the west with 32 parking spots.
Opportunity Zone tax benefits may apply, depending on eligibility.
Key Highlights
- Historic Loudon Building available for sale or lease in downtown Fargo
- Natural light, exposed wood, and original brick throughout the building
- Botanical Brothers occupies the first floor
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
$236,821
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
6.97%
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%
$4,736,420
$4.7M
Cap Rate 7%
$3,383,157
$3.4M
Cap Rate 9%
$2,631,344
$2.6M
Market Conditions
NOI Build-Up for 20,210 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
$375.9K $18.60/SF
− Vacancy
−$60.1K −$2.98/SF
EGI
$315.8K $15.62/SF
− OpEx
−$78.9K −$3.91/SF
NOI
$236.8K $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%
$4,736,420
Cap Rate 7%
$3,383,157
Cap Rate 9%
$2,631,344
Alternative Uses
Best Use
Office B
$3.38M
$2.96M – $3.95M
NOI $236,821 @ 7.0% cap · market cap 6.97%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$4.38M
$3.84M – $5.11M
NOI $306,885 @ 7.0% cap · market cap 9.03%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Location Intelligence
Trade Area within ½ mile
3,241
Businesses Nearby
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
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Market
Vacancy Rate% for Office in Midwest region
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Frequently Asked Questions
What type of property is this?
Office building - Historic building with natural light, original brick, and fit-up office space on the 2nd and 3rd floors.
Where is this office building located?
The property is located at 64 4th St N Fargo, ND.
What is the asking price?
The asking price for this property is $3,400,000.
What are key features of this property?
This property features: Historic Loudon Building available for sale or lease in downtown Fargo; Natural light, exposed wood, and original brick throughout the building; Botanical Brothers occupies the first floor
