Downtown Fargo Retail
716 Main Avenue Fargo, ND 58103
716 Main Avenue, Fargo, ND, 58103
Contact for pricing
For Sale
Contact for pricing
Retail condo in a historically renovated building on Main Ave.
Property Size2,775 SF
Price / SF$306.31
Days on Market700
Property Features for 716 Main Avenue
General Information
- Standard status
- Active
- Size
- 2,775 SF
- Property subtype
- Retail, Office, Business for Sale
Building Details
- Year Built
- 1901
Listing agency
Horizon Real Estate Group
(701) 478-7600
Listed by
David Schlossman · License #ND 8360
Source
Crexi
Added: Aug 22, 2024 Updated: Jul 10 at 3:45PM Checked: Jul 21 at 4:51AM
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 Horizon Real Estate Group
Investment Insights
Based on property information with market context.
This is a rare opportunity to own a retail condo in a historically renovated building located on Main Ave in Downtown Fargo. The building, constructed in 1882 in the Victorian Gothic style, has been renovated. The property has a size of 2775 square feet. There is an option to purchase the neighboring lot for potential patio, parking or future building opportunity. The property is located in Fargo, ND.
Key Highlights
- Unbeatable Main Ave location in Downtown Fargo.
- Rare opportunity to own a retail condo.
- Historically renovated 1882 Victorian Gothic building.
Local Financial Insights For Retail
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 | $41.6k | $15.00 |
| − Vacancy | −$2.5k | −$0.90 |
| EGI | $39.1k | $14.10 |
| − OpEx | −$11.7k | −$4.23 |
| NOI | $27.4k | $9.87 |
2,775 SF · lease $15.00/SF/yr · vacancy 6.00% · expense 30.00%
Alternative Uses
Best Use
Retail
$391.3K
$342.4K – $456.5K
NOI $27,389 @ 7.0% cap · market cap 3.22%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$602.0K
$526.7K – $702.3K
NOI $42,138 @ 7.0% cap · market cap 4.96%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Property Profile
Location Intelligence
Current Use by Public Records
The Space
Hotel & Motel
Alina Collective
Clothing & Fashion Store
Apartmentstalker.Com
Real Estate Agency
Similar For Sale Nearby
FAQs
What type of property is this?
Retail space - Retail condo in a historically renovated building on Main Ave.
Where is this retail space located?
The property is located at 716 Main Avenue Fargo, ND.
What is the asking price?
The asking price for this property is $850,000.
What are key features of this property?
This property features: Unbeatable Main Ave location in Downtown Fargo.; Rare opportunity to own a retail condo.; **Historically renovated 1882 Victorian Gothic building.**
