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    835 23Rd Ave Fargo, ND 58103

    Sponsored
    For Sale
    $8,800,000

    Class A Shopping Center, 10 Tenants, High NOI

    Property size:
    21,026 SF

    Description

    Added:
    Dec 11, 2024
    Days on Market:
    392
    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 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

    HighLights

    • 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.
    • Includes a Chase ATM, boosting traffic and revenue.
    • Strong tenant mix with creditworthy tenants; no single tenant exceeds 20% of GLA.
    • Unique pad site—the only developable land remaining in West Fargo between I‑94 and 32nd Ave.
    Property Profile Location Intelligence

    Current Use by Public Records

    US Marine Corps ... Military Recruiting Office

    Suggested Use

    Realty agency Restaurant Law Firm Spa & Massage Dental Office Hair Salon Nail Salon Building Supply Clothing Store Auto Repair Shop

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Fargo
    County
    Cass
    State
    North Dakota
    Longitude
    -96.8850647
    Latitude
    46.8429654

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    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.
    Request Owner's contact information
    835 23Rd Ave Fargo, ND 58103
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    Fargo, ND 58103
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    Realmo Value Estimation

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.

    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.

    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    835 23Rd Ave Fargo, ND 58103
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