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    5670 38Th Ave Fargo, ND 58104

    • Medical space
    • 9,063 SF
    OFF-MARKET
    Value Estimations
    Cap Rate Potential
    Location Intelligence
    Property ID
    US56-0660295
    The Realmo ID is a unique identifier assigned to every property, incorporating country codes and precise geo-coordinates for 300x300-foot land blocks. It enables standardized data collection and seamless integration of disparate sources such as ownership, tax, title data and physical specifications. By aggregating current and historical records, the Realmo ID powers advanced analytics and delivers deep, verifiable insights for real estate professionals.

    Current Use by Public Records

    • Fargo Kids Play Museum / Children'S Club
    • LifeScript Pharmacy / Pharmacy
    • Nailtique / Nail Salon
    • Reshia's Studio / Beauty Salon / Hair Salon
    • Matthew Christenson / Chiropractor / Practitioner Service Location

    Property Details for 5670 38Th Ave

    Year built
    2016
    Property size
    9,063 SF
    Property type
    Medical space

    Description

    Veterans Square offers 9,063 square feet of Class B retail space in Fargo, North Dakota. Built in 2016, this multi-tenant property is located at 5670 38th Ave S, in Cass County, zip code 58104. The building features five individual suites, with a minimum divisible space of 1,653 square feet and a maximum contiguous space of 1,779 square feet. While individual suite sizes vary, options exist to accommodate businesses needing between 1,653 and 2,368 square feet. The property boasts excellent visibility and accessibility due to its corner location at the intersection of Veterans Boulevard and 40th Avenue South. Its strategic location offers proximity to numerous schools and desirable residential areas, ensuring high foot traffic and potential customer base. This makes Veterans Square an ideal location for a variety of retail businesses, including medical, office, and service-oriented enterprises. The property's convenient location and versatile suite sizes present a compelling opportunity for businesses seeking a well-situated and functional space in a thriving Fargo neighborhood.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

    Get a detailed, property-specific valuation — fast and free

    Location Insight

    • Map
    • Local Demand
    City
    Fargo
    County
    Cass
    State
    North Dakota
    Longitude
    -96.882753450448
    Latitude
    46.81963464326

    Comparable in this City

    • $22 SF/Yr
      15,377 SF

      EAST 32: Prime Cass County Office Space

      Modern Office Suites, 7 Available, High Traffic
      4266 32Nd Ave, Fargo, ND 58104
      View Details
    • $22 SF/Yr
      10,385 SF

      Commerce at the Grand: Premier Office Space

      High-visibility, Class A office space; flexible layouts.
      4541 52Nd Ave, Fargo, ND 58104
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    • $25 SF/Yr
      24,655 SF

      Fargo Office Space: Now Leasing

      Modern Class A Office Suites Available
      5650 34Th Ave, Fargo, ND 58104
      View Details
    • $19 SF/Yr
      1,740 SF

      Fargo Executive Office Space

      Prime Fargo location, 1740 sq ft, single tenant.
      2633 55Th St, Fargo, ND 58104
      View Details
    • $22 SF/Yr
      109,906 SF

      Fargo Executive Office Suites

      Prime Fargo Office Space Available
      4474 24Th Ave, Fargo, ND 58104
      View Details
    • $20 SF/Yr
      62,434 SF

      Class A Office Suites, BLU Water Creek

      Modern Office Space, Flexible Sizes
      4609 33Rd Ave, Fargo, ND 58104
      View Details

    Similar Nearby for Sale

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      Fargo Commercial Lot - Development Site

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      Fargo Executive Office Land

      Prime Fargo commercial land, high traffic.
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      Brandt Crossing Commercial Land

      Fargo, ND development site; prime location.
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    • $1,426,586
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      Crossroads Commercial Land - Lot 1

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    • $1,069,172
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      Fargo Commercial Land - Veterans Blvd

      Prime Fargo commercial lot, 41,122 sq ft.
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    Similar Nearby for Lease

    • $22 SF/Yr
      15,377 SF

      EAST 32: Prime Cass County Office Space

      Modern Office Suites, 7 Available, High Traffic
      4266 32Nd Ave, Fargo, ND 58104
      View Details
    • $22 SF/Yr
      10,385 SF

      Commerce at the Grand: Premier Office Space

      High-visibility, Class A office space; flexible layouts.
      4541 52Nd Ave, Fargo, ND 58104
      View Details
    • $25 SF/Yr
      24,655 SF

      Fargo Office Space: Now Leasing

      Modern Class A Office Suites Available
      5650 34Th Ave, Fargo, ND 58104
      View Details
    • $19 SF/Yr
      1,740 SF

      Fargo Executive Office Space

      Prime Fargo location, 1740 sq ft, single tenant.
      2633 55Th St, Fargo, ND 58104
      View Details
    • $16 SF/Yr
      74,718 SF

      The Don: Fargo Retail/Office Space

      Modern Fargo Office & Retail Suites Available
      5652 36Th Ave, Fargo, ND 58104
      View Details
    • $21 SF/Yr

      Prime Retail or Office Space

      Expansive property ideal for retail or professional offices with storage.
      2600 52Nd Ave S, Fargo, ND 58104
      View Details
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    5670 38Th Ave
    Fargo, ND 58104
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    Realmo Value Estimations

    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.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    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.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    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
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