670 4Th Ave Fargo, ND 58102
- 1031 exchange properties
- 25,657 SF
- 1.13 lot acres
Current Use by Public Records
- Chef's Table Catering / Caterer
- Sanctuary Events Center / Event Venue / Concert Hall
- Great Plains Hospitality / Consultant
- Lucky Rabbit Studios / Tattoo Shop
- Breathe Massage / Massage Spa / Massage Therapist
Property Details for 670 4Th Ave
- Year built
- 1912
- Lot size
- 1.13 lot acres
- Property size
- 25,657 SF
- Property type
- 1031 exchange properties
Description
This exceptional investment opportunity presents a 25,657 square foot special purpose property located at 670 4th Ave N, Fargo, ND 58102. Built in 1912, this historic building sits on a 1.13-acre lot and is currently leased to the Sanctuary Event Center, a thriving business hosting weddings, concerts, and various events. The property boasts a strong, long-term lease with built-in annual rent increases, ensuring consistent cash flow. The asking price is $5,200,000, translating to a price per square foot of $202.67. The pro-forma net operating income (NOI) is $384,624, yielding a 7.40% pro-forma capitalization rate. Further income potential exists with 58 additional parking spaces available for lease at $75.00 per month. This property offers significant upside potential and may qualify for Opportunity Zone tax benefits. The property's prime location in Fargo, Cass County, North Dakota, contributes to its strong rental demand and overall value. This is a rare chance to acquire a well-established, income-producing asset in a vibrant market.
Value Estimation
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CAP approach
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Comparable approach
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Alternative Use
Location Insight
- Map
- Local Demand
- City
- Fargo
- County
- Cass
- State
- North Dakota
- Longitude
- -96.790096275508
- Latitude
- 46.880121532443
