835 23Rd Ave Fargo, ND 58103

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.