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

    702 29Th St Fargo, ND 58102

    • Commercial real estate
    OFF-MARKET
    Value Estimations
    Cap Rate Potential
    Location Intelligence
    Property ID
    US56-0054520
    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 702 29Th St

    Year built
    1976
    Property type
    Commercial real estate

    Description

    This exceptional investment opportunity presents a single-unit multifamily property located at 702 29th St N, Fargo, ND 58102. The property, built in 1976, is classified as Class D and offers a unique entry point into the Fargo real estate market. Priced at $347,000, this represents a compelling price per unit. While this listing focuses on the sale of a single unit, it's important to note that the larger building comprises a total of six units. The building's configuration includes two two-bedroom, one-bathroom units and four studio units, each with a single bathroom. This diverse unit mix provides flexibility for potential investors. The property's location in Cass County, Fargo, offers convenient access to local amenities and services. Further details regarding the financial aspects of this investment and scheduling a viewing are available upon request. This is an excellent opportunity for an investor seeking a foothold in the Fargo multifamily market. Additional options may be available; interested parties should inquire for further information. The property's latitude and longitude coordinates are 46.883213585631566 and -96.82566218204812 respectively.

    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
    -96.825662182048
    Latitude
    46.883213585632

    Comparable in this City

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      5,736 SF

      Historic Mixed-Use Building Near Broadway

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      Downtown Fargo Legion Building For Sale

      Former Legion Building in downtown Fargo, across from RDO Tower.
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    • $2,375,500
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      Mixed-Use Property with Multifamily Units

      Retail space with multifamily units and established tenant.
      228 Broadway N, Fargo, ND 58102
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    • $2,950,000
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      Fargo Warehouse: Historic Charm

      21,087 SF Warehouse, NNN Lease, Vacant
      610 University Dr, Fargo, ND 58102
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    • $1,145,000
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      Downtown Fargo Warehouse - $1.145M

      Two-building warehouse, 17,100+ SF lot.
      1415 2Nd Ave, Fargo, ND 58102
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    • $825,000
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      Downtown Fargo Storefront Opportunity

      Prime retail space, redevelopment potential, leaseback option.
      219 Northern Pacific Ave, Fargo, ND 58102
      View Details

    Similar Nearby for Sale

    • $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
    • $900,000
      22,642 SF

      Downtown Fargo Legion Building For Sale

      Former Legion Building in downtown Fargo, across from RDO Tower.
      505 3Rd Ave N, Fargo, ND 58102
      View Details
    • $2,375,500
      4,200 SF

      Mixed-Use Property with Multifamily Units

      Retail space with multifamily units and established tenant.
      228 Broadway N, Fargo, ND 58102
      View Details
    • $2,950,000
      21,087 SF

      Fargo Warehouse: Historic Charm

      21,087 SF Warehouse, NNN Lease, Vacant
      610 University Dr, Fargo, ND 58102
      View Details
    • $1,145,000
      0.91 Acres

      Downtown Fargo Warehouse - $1.145M

      Two-building warehouse, 17,100+ SF lot.
      1415 2Nd Ave, Fargo, ND 58102
      View Details
    • $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

    Similar Nearby for Lease

    • $16 SF/Yr
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      Downtown Fargo Creative Office Space

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      222 Broadway, Fargo, ND 58102
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    • $9 SF/Yr
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      Northport Shopping Center: Fargo Retail Space

      Prime Fargo retail space, multiple suites available.
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      Fargo Executive Office Suite

      Prime 6,160 sq ft Office Space for Lease
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    • $16 SF/Yr
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      Executive Suites, Fargo, ND

      Prestigious Fargo office space available.
      320 5Th St, Fargo, ND 58102
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    • $7 SF/Yr
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      Dakota Commerce Center: Fargo, ND

      Modern Industrial Space, Fargo, ND
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    • $6 SF/Yr
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      Dakota Center: Fargo Office Suites

      Downtown Fargo Class A Office Space
      51 Broadway Dr, Fargo, ND 58102
      View Details
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    702 29Th St
    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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