Add Listing
    Property Lookup
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    1517 32nd S Ave Fargo, ND 58103-5905
    Back to Search
    Property profile & analytics

    1517 32nd S Ave Fargo, ND 58103-5905

    View on Map
    • Medical Office Space
    • 3,979 SF
    • 0.57 lot acres
    Off-Market
    Last Sale Feb 24, 2022
    Property ID
    US56-0047560
    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.
    Value Estimations
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Dr. Rodney J. Lee, MD / Physician
    • Natalie White, LRD / Medical Clinic
    • Minn-Kota PAAWS / Veterinary Clinic
    • Amy Ratajczak / Physician
    • Justin's Best Furnace Experts / Hardware & Home Improvement / HVAC Service

    Property Details for 1517 32nd S Ave

    Year built
    2002
    Lot size
    0.57 lot acres
    Property size
    3,979 SF
    Zone code
    LC
    Property type
    Medical Office Space
    Property subtype
    Medical centers
    APN
    01-1885-01326-000
    APU
    1188501326000

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

    Get a detailed, property-specific estimation — fast and free

    Location Insight

    • Map
    • Local Demand
    City
    Fargo
    County
    Cass
    State
    North Dakota
    Longitude
    -96.8033
    Latitude
    46.8332
    CBSA code
    22020
    CBSA name
    FARGO, ND-MN METROPOLITAN STATISTICAL AREA

    Property Tax & Assessments

    Tax date
    Tax Amount
    Assessed Land Value
    Assessed Improvement Value
    Total Assessed Value
    Applied Tax Rate
    Land Market Value
    Improvement Market Value
    Total Market Value
    2023
    $105
    $0.00
    $0.00
    $0.00
    -
    $0.00
    $0.00
    $0.00

    Comparable in this City

    • Value Estimation by Request
      9,696 SF

      120 8th S St

      MEDICAL CLINIC • 9,696 SF
      120 8th S St, Fargo, ND 58103-1823
      View Details
    • Value Estimation by Request
      11,460 SF

      3985 56Th St

      Restaurants • 11,460 SF
      3985 56Th St, Fargo, ND 58103
      View Details
    • Value Estimation by Request

      1531 32Nd Ave

      Office Units
      1531 32Nd Ave, Fargo, ND 58103
      View Details
    • Value Estimation by Request
      46,185 SF

      2829 University Dr

      Medical Office Space • 46,185 SF
      2829 University Dr, Fargo, ND 58103
      View Details
    • Value Estimation by Request
      4,020 SF

      1501 32Nd Ave

      Individual retail properties • 4,020 SF
      1501 32Nd Ave, Fargo, ND 58103
      View Details
    • Value Estimation by Request
      32,908 SF

      2301 University Dr

      Restaurants • 32,908 SF
      2301 University Dr, Fargo, ND 58103
      View Details

    Similar Nearby for Sale

    • Contact for pricing
      4,020 SF

      Turn-Key Bank Branch For Sale

      Professional bank branch with drive-thru, excellent visibility and signage.
      1501 32Nd Ave S, Fargo, ND 58103
      View Details
    • Contact for pricing
      16,937 SF

      High-Visibility Office Building Near Mall

      16,000+ SF office building with high traffic exposure.
      1749 38Th St S, Fargo, ND 58103
      View Details
    • Contact for pricing
      13,109 SF

      Warehouse/Office Building on Main Avenue

      Corner warehouse/office building with income potential and storage space.
      2425 Main Ave, Fargo, ND 58103
      View Details
    • Contact for pricing

      Fargo Flex Space For Sale

      Flex space with shop, office, and parking in Fargo.
      25 14Th St S, Fargo, ND 58103
      View Details
    • Contact for pricing
      2,775 SF

      Downtown Fargo Retail Condo

      Retail condo in a historically renovated building on Main Ave.
      716 Main Ave, Fargo, ND 58103
      View Details

    Similar Nearby for Lease

    • Contact for pricing

      Mixed-Use Building Near Essentia Hospital

      Two-story office and retail building near Essentia Hospital.
      3003 32Nd Ave S, Fargo, ND 58103
      View Details
    • Contact for pricing

      Turnkey Office Space Available

      Office space for rent in the Veterans corridor.
      745 31St Ave E, Fargo, ND 58103
      View Details
    • Contact for pricing
      1,911 SF

      Fargo Office Space For Rent

      Centrally-located office space with abundant parking and easy highway access.
      1131 S Westrac Dr, Fargo, ND 58103
      View Details
    • Contact for pricing

      Office Space Available For Lease

      Office space available for lease.
      3220 18Th St S, Fargo, ND 58103
      View Details
    • $16 SF/Yr
      578 SF

      Downtown Adjacent Office For Lease

      Office space for lease with free parking downtown.
      808 3Rd Ave S, Fargo, ND 58103
      View Details
    • Contact for pricing
      9,613 SF

      Class A Office Space Available

      Office space in iconic Class A building with great amenities.
      2000 44Th St S, Fargo, ND 58103
      View Details
    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.
    1517 32nd S Ave
    Fargo, ND 58103-5905
    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

    Thank You for Inquiry
    1517 32nd S Ave, Fargo, ND, 58103
    letter with green check mark
    Check your email
    We sent you the
    agent's contact details. yellow underline
    Can't find it?
    Please check your junk/spam folder.
    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!