855 45Th StFargo, ND 58103

Property Details for 855 45Th St

Year built

1997

Property size (Sq ft)

24,481 SF

Property type

Retail properties

Property subtype

Other retail properties

Description

This exceptional investment opportunity presents a stabilized, multi-tenant retail property located at 855 45th St S, Fargo, ND 58103, within the Westfield Business Park. The property, built in 1997 and renovated in 2019, encompasses a single-story, 24,481 square foot building situated on a substantial 122,895 square foot lot. Currently boasting 87.5% occupancy across seven tenants, the property generates a strong net operating income (NOI) of $266,564, yielding an attractive 8.46% cap rate. The asking price is $3,150,000, translating to $128.67 per square foot. The property is classified as Class B, with a NNN lease structure. Zoned for commercial use, this property offers a compelling value-add investment opportunity. The property features eight units and is categorized as a restaurant and storefront, offering a diverse tenant mix. The property's strong financial performance, combined with its prime location and significant lot size, makes it an ideal investment for discerning buyers seeking a stable and potentially appreciating asset. The property's APN is 01-3880-01609-000 and is held in trust. Occupancy commenced on February 1st, 2016.

Location Insight

City

Fargo

County

Cass

State

North Dakota

Latitude

46.8678

Longitude

-96.8628

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