670 4Th AveFargo, ND 58102

Property Details for 670 4Th Ave

Year built

1912

Lot size

1.13 AC

Property size (Sq ft)

25,657 SF

Property type

Investment properties

Property subtype

Other specialty properties

Description

This exceptional investment opportunity presents a 25,657 square foot special purpose property located at 670 4th Ave N, Fargo, ND 58102. Built in 1912, this historic building sits on a 1.13-acre lot and is currently leased to the Sanctuary Event Center, a thriving business hosting weddings, concerts, and various events. The property boasts a strong, long-term lease with built-in annual rent increases, ensuring consistent cash flow. The asking price is $5,200,000, translating to a price per square foot of $202.67. The pro-forma net operating income (NOI) is $384,624, yielding a 7.40% pro-forma capitalization rate. Further income potential exists with 58 additional parking spaces available for lease at $75.00 per month. This property offers significant upside potential and may qualify for Opportunity Zone tax benefits. The property's prime location in Fargo, Cass County, North Dakota, contributes to its strong rental demand and overall value. This is a rare chance to acquire a well-established, income-producing asset in a vibrant market.

Location Insight

City

Fargo

County

Cass

State

North Dakota

Latitude

46.8801

Longitude

-96.7901

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