Add Listing
    For Lease
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    Back to Search
    Downtown Fargo Retail/Restaurant Space Title is generated by Realmo AI

    122 Broadway N, Fargo, ND 58102

    View on Map
    Claim this Listing
    For Lease
    Contact for pricing

    Retail or restaurant space available in downtown Fargo.

    Type:Retail, Office
    Property size:
    2,940 SF
    Added:
    Aug 21, 2024
    Days on Market:
    648
    Last Refresh:
    May 12 at 10:08 pm

    Property Features for 122 Broadway N

    General Information

    Standard status
    Active
    Size
    2,940 SF
    Property subtype
    Retail, Office

    Building Details

    Year Built
    1921

    Spaces For Lease

    at 122 Broadway N Contact us

    Basement $10/Mo

    Size
    4,187 SF
    Type
    Retail, Office
    Contact us

    Suite 101 $19/Mo

    Size
    2,940 SF
    Type
    Retail, Office
    Contact us

    Suite 201 $12/Mo

    Size
    5,858 SF
    Type
    Retail, Office
    Contact us

    We can help!

    Listing Contact
    Justin Gustofson, CCIM, SIOR
    Justin Gustofson, CCIM, SIOR

    Listing agent Justin Gustofson, CCIM, SIOR License #9860

    Listing office Property Resources Group

    Listing date Aug 21, 2024

    Source Crexi

    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

    HighLights

    • Prime location adjacent to Chase Bank on 2nd Avenue.
    • High Walkscore® of 95, indicating a Walker’s Paradise.
    • High BikeScore® of 97.
    • Located across the street from Broadway Square.
    • Space suitable for retail or restaurant concept.
    • Building constructed in 1921 with extensive renovation.

    Overview

    The Merchants Bank building, constructed in 1921, has been extensively renovated. Approximately 2,940 square feet of space is available adjacent to Chase Bank on 2nd Avenue, suitable for a retail or restaurant concept. The space can feature a new storefront entrance off 2nd Avenue N. The property is located across the street from Broadway Square. The location has a Walkscore of 95 and a BikeScore of 97.
    Property Profile Location Intelligence

    Current Use by Public Records

    CHARISM Main Office Charitable Organization Chase ATM Atm Chase Bank Bank Kxbq Radio Station

    Suggested Use

    Real Estate Agency Restaurant Law Firm Spa & Massage Center Dental Office Hair Salon Nail Salon Building Supply Gym & Fitness Center 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
    -96.7879401
    Latitude
    46.8778255

    Nearby Similar for Lease

    • $129-$3,729/Mo
      11-1,292 SF

      Brandt Office Park

      3523 45Th St, Unit 100, Fargo, ND 58104
      View Details
    • $129-$2,356/Mo
      11-1,292 SF

      Fargo 32nd Avenue

      1531 32Nd Ave, Fargo, ND 58103
      View Details
    • $5 SF/Yr
      33,400 SF

      Fargo Industrial Building Sublease Opportunity

      33,000 SF industrial building with office space for sublease.
      1402 43rd Street North, Fargo, ND, 58102
      View Details
    • $9 SF/Yr
      15,000 SF

      Turn-Key Office Space Available

      Move-in ready office space with flexible size options.
      2201 12th Street North, Fargo, ND, 58102
      View Details
    • $9 SF/Yr
      11,700 SF

      High-Traffic Office Space Available

      Office space for rent in West 45th Business Center.
      200-400 45th St S, Fargo, ND
      View Details
    • $9 SF/Yr
      1,920 SF

      Fargo Office Space For Rent

      Office space available for lease in Fargo, North Dakota.
      417 Main Ave, Fargo, ND
      View Details
    • Contact for pricing
      44,000 SF

      Fargo Industrial Building Sublease Opportunity

      44,000 SF industrial building with office space for sublease.
      101 42nd Street South, Fargo, ND 58103
      View Details
    • $12 SF/Yr
      11,088 SF

      Updated Office Space For Rent

      Turn-key office space with ample parking and high visibility.
      3202 13th Ave S, Fargo, ND
      View Details
    • $18 SF/Yr
      3,150 SF

      Remodeled Office Space For Lease

      Well-maintained, recently remodeled office space in a desirable location.
      4612 Amber Valley Pkwy S, Fargo, ND
      View Details
    • $37 SF/Yr
      2,250 SF

      Restaurant Space Near Schools

      2,250 SF restaurant space for lease near schools.
      2640 52nd Ave S, Fargo, ND
      View Details
    • $13 SF/Yr
      5,768 SF

      Industrial Building with Large Yard

      5,768 SF industrial space with 1.32-acre yard for lease.
      5 23rd St N, Fargo, ND
      View Details
    • Contact for pricing
      217,810 SF

      New Spec Warehouse in Fargo

      217,810 SF warehouse with expansion potential near I-29.
      2880 42nd Street North, Fargo, ND, 58102
      View Details

    FAQs

    What type of property is this?
    Retail space - Retail or restaurant space available in downtown Fargo.
    Where is this retail space located?
    The property is located at 122 Broadway N Fargo, ND.
    What is the lease rate?
    The lease rate is $10 SF/Yr.
    What are key features of this property?
    This property features: Prime location adjacent to Chase Bank on 2nd Avenue.; **High Walkscore® of 95, indicating a Walker’s Paradise.**; High BikeScore® of 97.
    (701) 200-7691 Call to check price and availability
    We can help!
    Contact for Pricing
    Please call us for current price
    and status of this listing Justin Gustofson, CCIM, SIOR
    Justin Gustofson, CCIM, SIOR
    Real Estate License ID: 9860
    Request Owner's contact information
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    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
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    Thank You for Inquiry
    122 Broadway N, Fargo, ND 58102
    letter with green check mark
    Check your email
    We sent you the
    agent's contact details. yellow underline
    Can't find it?
    Please check your junk/spam folder.
    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!