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    The Largest CRE Database in the US with Over 1 Million Listings
    Property profile & analytics

    117 Broadway Fargo, ND 58102

    • Retail space
    • 5,736 SF
    OFF-MARKET
    Value Estimations
    Cap Rate Potential
    Location Intelligence
    Property ID
    US56-0068523
    The Realmo ID is a unique identifier assigned to every property, incorporating country codes and precise geo-coordinates for 300x300-foot land blocks. It enables standardized data collection and seamless integration of disparate sources such as ownership, tax, title data and physical specifications. By aggregating current and historical records, the Realmo ID powers advanced analytics and delivers deep, verifiable insights for real estate professionals.

    Current Use by Public Records

    • Taco Shop / Restaurant / Caterer
    • Bostad Apartments / Apartment Rental Agency
    • Little Brother / Restaurant / Korean Restaurant

    Property Details for 117 Broadway

    Year built
    1911
    Property size
    5,736 SF
    Property type
    Retail space
    Property subtype
    Storefront properties

    Description

    Exceptional investment opportunity in downtown Fargo, North Dakota. This value-add retail property consists of two storefronts totaling 5,736 square feet at 117 and 119 Broadway N, zip code 58102, located less than a block from Broadway Square. Built in 1911, the property boasts a strong 7.00% cap rate and a current Net Operating Income (NOI) of $77,752, with an asking price of $1,110,000 ($193.51 per square foot). Currently 100% occupied, this property benefits from high foot traffic due to its prime location within a densely populated area with approximately 5,000 residents nearby and 20,000 employees in the downtown Fargo neighborhood. The prominent windowed storefronts provide excellent visibility and exposure. Potential Opportunity Zone tax benefits may apply. This is a rare chance to acquire a well-positioned, income-producing retail asset in a thriving downtown area.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

    Location Insight

    • Map
    • Local Demand
    City
    Fargo
    County
    Cass
    State
    North Dakota
    Longitude
    -96.787626804312
    Latitude
    46.877480977641

    Comparable in this City

    • $825,000
      10,479 SF

      Downtown Fargo Storefront Opportunity

      Prime retail space, redevelopment potential, leaseback option.
      219 Northern Pacific Ave, Fargo, ND 58102
      View Details
    • $2,250,000
      25,000 SF

      Historic Fargo Mixed-Use Building

      Downtown Fargo: 25,000 SF, 4 Units
      315 5Th St, Fargo, ND 58102
      View Details
    • $1,850,000
      28,450 SF

      Downtown Fargo Storefront Opportunity

      Historic building, prime retail space.
      109 Broadway, Fargo, ND 58102
      View Details
    • $1,110,000
      5,736 SF

      Historic Mixed-Use Building Near Broadway

      Mixed-use building with retail and residential units near Broadway.
      117-119 Broadway N, Fargo, ND 58102
      View Details
    • $279,000
      1,728 SF

      Retail Space with Specialized Systems

      Retail property featuring advanced systems and ample electrical supply.
      615 9Th Ave S, Fargo, ND 58102
      View Details
    • $745,000
      5,513 SF

      Retail Condos in Downtown Fargo

      Fully leased retail condos in a vibrant downtown location.
      300 Broadway N, Fargo, ND 58102
      View Details

    Similar Nearby for Sale

    • $825,000
      10,479 SF

      Downtown Fargo Storefront Opportunity

      Prime retail space, redevelopment potential, leaseback option.
      219 Northern Pacific Ave, Fargo, ND 58102
      View Details
    • $2,250,000
      25,000 SF

      Historic Fargo Mixed-Use Building

      Downtown Fargo: 25,000 SF, 4 Units
      315 5Th St, Fargo, ND 58102
      View Details
    • $1,850,000
      28,450 SF

      Downtown Fargo Storefront Opportunity

      Historic building, prime retail space.
      109 Broadway, Fargo, ND 58102
      View Details
    • $1,110,000
      5,736 SF

      Historic Mixed-Use Building Near Broadway

      Mixed-use building with retail and residential units near Broadway.
      117-119 Broadway N, Fargo, ND 58102
      View Details
    • $279,000
      1,728 SF

      Retail Space with Specialized Systems

      Retail property featuring advanced systems and ample electrical supply.
      615 9Th Ave S, Fargo, ND 58102
      View Details
    • $745,000
      5,513 SF

      Retail Condos in Downtown Fargo

      Fully leased retail condos in a vibrant downtown location.
      300 Broadway N, Fargo, ND 58102
      View Details

    Similar Nearby for Lease

    • $24 SF/Yr
      1,087 SF

      Downtown Fargo Retail Space Available

      Retail suite in high-traffic downtown location with natural light.
      615-635 2Nd Ave N, Fargo, ND 58102
      View Details
    • $18 SF/Yr
      1,041 SF

      Broadway Storefront with Basement Storage

      Storefront on Broadway with floor-to-ceiling windows and basement storage.
      12 Broadway N, Fargo, ND 58102
      View Details
    • $23 SF/Yr
      3,944 SF

      Downtown Fargo Retail Space Available

      Retail space in mixed-use development, downtown Fargo location.
      223-247 Roberts St N, Fargo, ND 58102
      View Details
    • $14 SF/Yr
      1,530 SF

      Retail Space Available For Rent

      Retail space for lease with planned exterior renovations.
      1503-1557 University Dr S, Fargo, ND 58102
      View Details
    • $16 SF/Yr
      1,900 SF

      Downtown Fargo Retail/Office Space

      Ground floor retail or office space in downtown Fargo.
      23 Broadway N, Fargo, ND 58102
      View Details
    • $19 SF/Yr

      Downtown Fargo Retail/Restaurant Space

      Prime downtown location with historical charm and modern amenities.
      420 Broadway N, Fargo, ND 58102
      View Details
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    117 Broadway
    Fargo, ND 58102
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    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
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