835 23Rd Ave Fargo, ND 58103
Property Features for 835 23Rd Ave
General Information
- Property type
- Lifestyle centers
- Square Feet
- 21,026 SF
- Class
- A
- Lot Size
- 131,987 SF
Building Details
- Year Built/Renovated
- 2016/2016
- Buildings
- 2
- Stories
- 1
- Units
- 9
Listing Agency: Horizon Real Estate Group Listing Agent: David Schlossman
Displayed information is deemed reliable but is not guaranteed and should be independently verified.
Overview
Veterans Commons, a Class A, 21,026 square foot shopping center in Fargo, North Dakota, presents a compelling investment opportunity. This stabilized, 100% occupied property boasts a diverse tenant mix of ten credit-rated businesses, including Verizon Wireless, hotworx, and a US Government tenant. Located at 835 23rd Ave E, Fargo, ND 58103, the center benefits from a prime location on a high-traffic corridor, with daily traffic counts exceeding 43,865 vehicles. The property features two single-story buildings constructed in 2016 and renovated between 2016 and 2022, situated on a 3.03-acre lot. The NNN lease structure provides a stable income stream, with a pro-forma NOI of $475,511 and a pro-forma cap rate of 6.25%. The asking price is $8,800,000, translating to $361.46 per square foot. Key anchors nearby include Costco, which reported $1.2 million in credit card swipes in 2021 and averaged approximately 6,100 daily visitors in August 2022, and Sanford Hospital's new regional hospital. The property is part of The Preserve development, a mixed-use area including retail, housing, and office space. A Chase ATM on the property further enhances traffic and revenue. The landlord prioritized strong tenant financials and a balanced mix, ensuring no single tenant occupies more than 20% of the gross leasable area. The property's APN is 02-4602-00050-000, and ownership is fee simple. The pad site represents the only developable land remaining in West Fargo between Interstate 94 and 32nd Ave.
Property Profile
Location Intelligence
Current Use by Public Records
US Marine Corps ...
Military Recruiting Office
Location Insight
- Map
- Local Demand
- City
- Fargo
- County
- Cass
- State
- North Dakota
- Longitude
- -96.8850647
- Latitude
- 46.8429654
Nearby Similar for Sale
FAQs
What type of property is this?
Lifestyle center - Class A Shopping Center, 10 Tenants, High NOI
Where is this lifestyle center located?
The property is located at 835 23Rd Ave Fargo, ND.
What is the asking price?
The asking price for this property is $8,800,000.
What are key features of this property?
This property features: Prime location at the first right-hand turn off Interstate 94.; Adjacent to Costco, generating high traffic; Costco reported $1.2M in credit card swipes in 2021 and averaged 6,100 daily visitors in August 2022.; High traffic counts exceeding 43,865 vehicles daily.