Add Listing
    For Sale
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    The Largest CRE Database in the US with Over 1 Million Listings

    716 Main Ave Fargo, ND 58103

    View on Map
    Claim this Listing
    Loading data...
    Loading data...
    Loading data...
    For Sale
    Contact for pricing

    Retail condo in a historically renovated building on Main Ave.

    Type:Retail, Office, Business for Sale
    Property size:
    2,775 SF
    Added:
    Aug 22, 2024
    Days on Market:
    601
    Last Refresh:
    Mar 17 at 1:26 pm

    Property Features for 716 Main Ave

    General Information

    Standard status
    Active
    Size
    2,775 SF
    Property subtype
    Retail, Office, Business for Sale

    Building Details

    Year Built
    1901

    We can help!

    Listing Contact
    David Schlossman

    Listing agent David Schlossman License #ND 8360

    Listing office Horizon Real Estate Group

    Listing date Aug 22, 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 Horizon Real Estate Group

    Overview

    Downtown Fargo Retail Condo

    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.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    The Space Hotel & Motel Alina Collective Clothing & Fashion Store Apartmentstalker.Com Real Estate Agency

    Suggested Use

    Real Estate Agency Restaurant Law Firm Spa & Massage Center Dental Office Hair Salon Nail Salon Building Supply Auto Repair Shop Gym & Fitness Center

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

    Location Insight

    • Map
    • Local Demand
    City
    Fargo
    County
    Cass
    State
    North Dakota
    Longitude
    -96.7904695
    Latitude
    46.8742934

    Nearby Similar for Sale

    • $750,000
      5,149 SF

      Established Laundromat on University Drive

      Well-maintained laundromat with conversion potential in central Fargo.
      801 S University Dr N, Fargo, ND 58103
      View Details
    • $2,950,000
      13,275 SF

      High-Exposure Corner Commercial Property

      Versatile commercial property with office, showroom, and warehouse space.
      3803/3817 Main Ave, Fargo, ND 58103
      View Details
    • $2,325,000
      4,236 SF

      Downtown Fargo Service Center Opportunity

      Gas station, convenience store, and repair facility in downtown Fargo.
      330 Main Ave, Fargo, ND 58103
      View Details
    • $899,000
      2,777 SF

      Retail Property in Fargo, ND

      Retail property for sale with 2,777 square feet.
      3072 45th St S, Fargo, ND
      View Details
    • $775,000
      5,000 SF

      Versatile Commercial Building in Fargo

      5,000 sq. ft. commercial building in North Fargo.
      2501 12th Street N, Fargo, ND 58102
      View Details
    • $3,900,000
      2,325 SF

      New Construction NNN Restaurant

      New construction restaurant with a long-term lease and zero responsibilities.
      3971 53rd Ave S, Fargo, ND
      View Details
    • Contact for pricing
      119,544 SF

      Class A Office Building Fargo

      Premier downtown Fargo office building with strong tenant roster.
      51 Broadway North, Fargo, ND, 58102
      View Details
    • $5,750,000
      655 SF

      Fargo Commercial Space For Rent

      Versatile 655 SF commercial space in Fargo, North Dakota.
      503 7th St N, Fargo, ND
      View Details
    • $1,670,761
      7,200 SF

      Retail Center on 25th Street

      Fully occupied retail center in high-traffic Fargo location.
      1326 25th St S , Fargo, ND
      View Details
    • $880,000
      5,040 SF

      Fargo Warehouse with Office Space

      5,040 SF warehouse featuring office, bathroom, and gas heater.
      1810 Sheyenne Loop N, Fargo, ND
      View Details
    • Contact for pricing
      25,700 SF

      Fargo Industrial Facility For Sale

      25,700 SF industrial facility with office space and parking.
      1424 43rd Street North, Fargo, ND 58102
      View Details
    • $1,850,000
      40,394 SF

      Visible Retail Space For Rent

      High-visibility retail space with overhead doors and storage.
      1202 36th St S, Fargo, ND
      View Details

    FAQs

    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 Ave 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.**
    We can help!
    Contact for Pricing
    Please call us for current price
    and status of this listing
    David Schlossman
    Real Estate License ID: ND 8360
    Learn More
    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

    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!