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Property profile & analytics
OFF-MARKET
Estimated value
$2,245,000
Manufacturing properties
1830 Ndsu Research N Cir Fargo, ND 58102-5705
Entity Owned
4-yr Hold
Absentee Owner
Free & Clear
Property ID
US56-0018316
Property profile
Verified
Property type
Manufacturing properties
Use group
MANUFACTURING (LIGHT)
Year built
2005
Total area
36,238 SF
Lot
3.98 ac (173,394 SF)
Zoning code
P/I
APN
01-7630-00080-000
UPID
US56-0018316
Cap rate & NOI
Priority signal for investors
Implied cap rate, NOI & suggested price
Cap rate vs submarket · NOI estimate · 3 price anchors
Implied cap rate, NOI & suggested price
Cap vs submarket · NOI estimate · 3 price anchors
Current use
Occupant on record · Public records
-
Appareo Systems, LLC - Horizon Building Research Foundation
-
LOADING DOCK Distribution Center Logistics Company
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
by Request
Blend (final)
Blend
$2.25M
Owner & transaction history
Dakota Upreit Limited Partnership · 4 yrs held
Dakota Upreit Limited Partnership
since 2022
4 recorded transactions
Zoning & alternative use
P/I · Fargo, ND
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Cap rate
Implied · in-place · derived from last sale + estimated NOI
Implied Cap rate
#1
Implied · in-place · NOI ÷ last sale
In-place · derived from last sale + estimated NOI
Cap rate, NOI & submarket benchmark
Implied cap rate vs Fargo submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Fargo submarket · NOI estimate · typical band, median & reading
Refine your cap rate
8-question underwriting flow
1.
Property current status — Going-In vs Stabilized
2.
Price for denominator — asking / offer / market
3.
Leasing status & lease structure (NNN / Gross)
4.
Tenant risk profile & vacancy assumption
5.
Upload T12 / rent roll / OM (optional)
Refine in 60 seconds, get exact suggested price
T12 upload · Submarket benchmarks · Sensitivity grid
Suggested price · 3 cap rate anchors
Income approach @ 5% / 7% / 9% — aggressive / typical / conservative
Suggested price at 5% / 7% / 9% cap
Aggressive / typical / conservative · Implied $/SF per anchor · Sensitivity grid
Suggested price at 5% / 7% / 9% cap
Aggressive / typical / conservative · implied $/SF · sensitivity
Value
AI, CAP & Alternative Use estimations · Realmo proprietary blendValue Estimations
Based on Realmo’s proprietary methodology
AI Approach
Method
Estimation
Statistic approach
by Request
ML approach
by Request
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
OFFICE BUILDING
$3,490,000
Change: 0% · Conversion: Difficult
WAREHOUSE, STORAGE
$3,385,000
Change: 0% · Conversion: Easy
RETAIL STORES
$3,050,000
Change: 0% · Conversion: Moderate
APARTMENT HOUSE (5+ UNITS)
$3,045,000
Change: 0% · Conversion: Difficult
RESTAURANT
$2,855,000
Change: 0% · Conversion: Difficult
Blend value · Realmo final
$2.25M
Range $2.02M – $2.47M · ±10%
Realmo estimate · informational only.
These numbers are calculated by our models from public records and may not reflect actual market value.
Not an appraisal.
Verify with a licensed appraiser before transacting. Realmo accepts no liability for divergence from real-world outcomes.
View the full estimation — every method, every assumption
Confidence drivers & risk notes · Custom comparable set · Free for first 3 / day
Full estimation methodology
Every method · every assumption · confidence drivers
Price per SF
Sale + rent benchmarks
Subject property
$62 / SF
Submarket sale & rent benchmarks
Median sale $/SF · Asking & closed rent · Submarket vacancy
Submarket sale & rent benchmarks
Median sale $/SF · asking & closed rent · submarket vacancy
Property tax & assessments
Tax year 2023Property tax & assessments
Tax year 2023
Tax billed
$16,736
Tax year 2023
Assessed value
$433,500
Assessed 2023
Previous assessed
$433,500
+0.0% YoY
Effective rate
3.86%
On assessed value
Assessed land
$433,500
Land market value
$867,000
Total market value
$867,000
Applied tax rate
1.0000
Comparables
6 recent transactions · within 1.5 miComparable in this city
6 recent transactions
Comparable in this City
Similar Nearby for Sale
Similar Nearby for Lease
Recent comparable sales
Sale price & price/SF · Sale date & distance · Adjustments & confidence
Recent comparable sales
Sale price & $/SF · sale date & distance · adjustments
Property description
Physical attributes from public recordsBuilding & lot
Public records
Property type
Manufacturing properties
Use group
MANUFACTURING (LIGHT)
Status
Off-Market
Year built
2005
Heating
NONE
Total area
36,238 SF
Lot
3.98 ac (173,394 SF)
Zoning code
P/I
APN
01-7630-00080-000
UPID
US56-0018316
Jurisdiction
CASS
Zoning & alternative use
P/I · Fargo, ND
Zoning P/I · permitted uses
P/I · Fargo, ND
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Fargo. Always verify with local authorities before improvements.
Alternative use value scenarios
Repositioning upside vs current use
OFFICE BUILDING
Est. value
$3.5M
WAREHOUSE, STORAGE
Est. value
$3.4M
RETAIL STORES
Est. value
$3.1M
APARTMENT HOUSE (5+ UNITS)
Est. value
$3.0M
RESTAURANT
Est. value
$2.9M
OFFICE BUILDING
WAREHOUSE, STORAGE
RETAIL STORES
APARTMENT HOUSE (5+ UNITS)
RESTAURANT
Alternative use deep dive — conversion cost, permits, timeline
Conversion cost estimate · Permit path & risks · Stabilized NOI per option
Alternative use deep dive
Conversion cost · permit path · stabilized NOI per option
Building & site characteristics
From public records
Year built
2005
Heating
NONE
Lot
3.98 ac
Current owner
From public records · entity-resolved
Dakota Upreit Limited Partnership
Entity
Free & Clear · 4 yrs held
Mailing address
1810 NDSU RESEARCH CIR N, FARGO, ND 58102-5710
Mailing matches property
Different — outreach signal
Owner-occupied
No
Ownership since
2022
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
4 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Jul 1, 2022
—
Dakota Upreit Limited Partnership
Ndsu Research & Technology Park INC
Lease
—
Dec 24, 2014
—
Batcheller Real Estate LLC
Renaissance Dev LLC
Warranty Deed
$5,972,000 · Mmcdc New Markets Fund Xlv LLC
Jun 22, 2010
—
Renaissance Dev LLC
Johnson,rodger
Quit Claim Deed
related
$3,379,523 · State Bank & Trust
—
—
Renaissance Dev LLC
—
Deed Of Trust
related
—
Coming soon
Costs & Benchmarks
Operating expenses, capex projections, utility benchmarks, and submarket comparables — all in one view.
Coming soon
Risks
Flood, climate, environmental, title, and tenant-concentration risk — surfaced with mitigations and source citations.
Try Rey
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“Is 15.6% cap rate sustainable?” · “Best tenant mix for BU1?” · “What’s the redev upside?”
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