Downtown Fargo Retail
For Sale
Contact for pricing
716 Main Avenue, Fargo, ND 58103
Retail condo in a historically renovated building on Main Ave.
Property Size2,775 SF
Price / SF$306.31
Days on Market792
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
Listed By:
David Schlossman · License #ND 8360
(701) 261-6161
Source:
Crexi
Added: Aug 22, 2024
Changed: Oct 14
Last Checked: Oct 20 at 8:14PM
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
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Review the available facts, identify missing information and prepare questions for the agent.
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.**
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$27,389
Cap Rate
3.22%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$547,780
$547.8K
Cap Rate 7%
$391,271
$391.3K
Cap Rate 9%
$304,322
$304.3K
Market Conditions
NOI Build-Up for 2,775 SF
Gross rent
$41.6K $15.00/SF
− Vacancy
−$2.5K −$0.90/SF
EGI
$39.1K $14.10/SF
− OpEx
−$11.7K −$4.23/SF
NOI
$27.4K $9.87/SF
Area
Fargo, ND
Vacancy
6.00%
Lease Rate
$15.00 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$547,780
Cap Rate 7%
$391,271
Cap Rate 9%
$304,322
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 authorities.
How Realmo checks its estimates
Property Analytics
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Open Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
2,695
Businesses Nearby
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Business Placement
Demographics for 58103, ND
46,754
Population
25,241
Households
1.9
Avg Household Size
36
Median Age
37%
College-Educated
93%
High-School Grad
11.5 sq mi
ZIP Area
4,066
Density / Sq Mi
$57,699
Median Household Income
$38,241
Median Earnings
$831
Median Rent
$239,200
Median Home Value
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Retail in Midwest region
Frequently Asked Questions
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.**
