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

    5100 28Th Ave Fargo, ND 58104

    • Commercial real estate
    • 2.62 lot acres
    OFF-MARKET
    Value Estimations
    Cap Rate Potential
    Location Intelligence
    Property ID
    US56-0064964
    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

    • Commercial real estate

    Property Details for 5100 28Th Ave

    Lot size
    2.62 lot acres
    Property type
    Commercial real estate
    APN
    01882500100000

    Description

    This exceptional 2.62-acre commercial land parcel, located at 5100 28th Ave S in Fargo, North Dakota (Cass County, zip code 58104), presents a remarkable investment opportunity. Priced at $913,000, this property boasts a land value of $8 per square foot. The lot encompasses 114,125 square feet (APN: 01882500100000) and is situated within Fargo's premier in-fill development, Urban Plains. This vibrant mixed-use community seamlessly blends commercial, retail, office, medical, event center, multi-dwelling housing, condo, and townhome developments. Its strategic location between Veterans Boulevard and 45th Street South ensures easy access to I-94 and I-29, providing unparalleled connectivity and visibility. The property's ideal location and the dynamic nature of the Urban Plains development make it an exceptional choice for a wide range of commercial ventures. This is a rare chance to acquire a substantial land holding in a thriving and rapidly growing area of Fargo. Don't miss this opportunity to build, lease, or invest in one of Fargo's most sought-after locations.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

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

    Location Insight

    • Map
    • Local Demand
    City
    Fargo
    County
    Cass
    State
    North Dakota
    Longitude
    -96.874983
    Latitude
    46.838354

    Comparable in this City

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    • $1,795,168

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    • $10,204,801
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      Fargo Commercial Land Development

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    • $426,400
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      Fargo Commercial Land: 75 Acres

      Prime Commercial Land, South Fargo
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    • $646,811

      Prime Fargo Commercial Land

      58,801 SF Commercial Lot, $11/SF
      3166 Sienna Dr, Fargo, ND 58104
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    • $3,087,315
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      Fargo Development Land - Parcel 1

      10.5 Acres, Prime Commercial Location
      0 I-29, Fargo, ND 58104
      View Details

    Similar Nearby for Sale

    • $3,725,120
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      Prime Fargo commercial land, high visibility, excellent location.
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    • $10,204,801
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      Fargo Commercial Land Development

      Prime 49-acre site, I-29 access.
      6711 38Th St, Fargo, ND 58104
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    • $1,795,168

      Fargo Commercial Land - $1.8M

      Prime Fargo commercial land, 112,198 sq ft.
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    • $426,400
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      Fargo Commercial Land: 75 Acres

      Prime Commercial Land, South Fargo
      3166 Sienna Dr, Fargo, ND 58104
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    • $646,811

      Prime Fargo Commercial Land

      58,801 SF Commercial Lot, $11/SF
      3166 Sienna Dr, Fargo, ND 58104
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    • $3,087,315
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      Fargo Development Land - Parcel 1

      10.5 Acres, Prime Commercial Location
      0 I-29, Fargo, ND 58104
      View Details

    Similar Nearby for Lease

    • $24 SF/Yr
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      Fargo Executive Office Space For Lease

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    • $25 SF/Yr
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      Fargo Office Space: Now Leasing

      Modern Class A Office Suites Available
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    • $6,950,000
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      Fargo Industrial Space For Lease

      Flexible industrial space in Fargo's premier industrial corridor.
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    • $1,200 /Mo
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      Fargo Office Space For Rent

      Office space with natural light suitable for wellness professionals.
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    • $13 SF/Yr
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      M5 Office Park: Fargo Office Space

      8,313 SF Office Building, 3,380 SF Available
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    5100 28Th Ave
    Fargo, ND 58104
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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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