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Property profile & analytics
OFF-MARKET
Estimated value
$2,320,000
Hotels
901 38th S St Fargo, ND 58103-2113
Entity Owned
4-yr Hold
~
Est. High Equity
Property ID
US56-0024918
Property profile
Verified
Property type
Hotels
Use group
HOTEL/MOTEL
Year built
1979
Total area
36,370 SF
Lot
2.59 ac (112,681 SF)
Zoning code
LC
APN
01-3600-00060-000
UPID
US56-0024918
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
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
by Request
Blend (final)
Blend
$2.32M
Owner & transaction history
Westward Properties LLC · 4 yrs held
Westward Properties LLC
since 2021
7 recorded transactions
Zoning & alternative use
LC · 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
$3,500,000
Change: 0% · Conversion: Difficult
WAREHOUSE, STORAGE
$3,395,000
Change: 0% · Conversion: Difficult
RETAIL STORES
$3,065,000
Change: 0% · Conversion: Difficult
RESTAURANT
$2,865,000
Change: 0% · Conversion: Difficult
APARTMENT HOUSE (5+ UNITS)
$2,730,000
Change: 0% · Conversion: Difficult
Blend value · Realmo final
$2.32M
Range $2.09M – $2.55M · ±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
$64 / 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
$16,314
Tax year 2023
Assessed value
$276,000
Assessed 2023
Previous assessed
$1,052,300
-73.8% YoY
Effective rate
5.91%
On assessed value
Assessed land
$276,000
Land market value
$552,000
Total market value
$552,000
Applied tax rate
6.0000
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
Hotels
Use group
HOTEL/MOTEL
Status
Off-Market
Year built
1979
Heating
NONE
Total area
36,370 SF
Lot
2.59 ac (112,681 SF)
Zoning code
LC
APN
01-3600-00060-000
UPID
US56-0024918
Jurisdiction
CASS
Zoning & alternative use
LC · Fargo, ND
Zoning LC · permitted uses
LC · 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
RESTAURANT
Est. value
$2.9M
APARTMENT HOUSE (5+ UNITS)
Est. value
$2.7M
OFFICE BUILDING
WAREHOUSE, STORAGE
RETAIL STORES
RESTAURANT
APARTMENT HOUSE (5+ UNITS)
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
1979
Heating
NONE
Lot
2.59 ac
Current owner
From public records · entity-resolved
Westward Properties LLC
Entity
Mailing address
PO BOX 9495, FARGO, ND 58106-9495
Mailing matches property
Yes
Owner-occupied
Yes
Ownership since
2021
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
12 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Aug 16, 2023
—
Westward Properties LLC
—
Deed
related
$18,393,840 · Mad Cap Co LLC
Jul 3, 2023
—
Westward Properties LLC
—
Deed
related
$18,393,840 · Mad Cap Co LLC
Dec 30, 2021
—
Westward Properties LLC
Fm Hospitality LLC
Warranty Deed
$1,521,000 · Capital Cu
Jul 27, 2012
$3,800,000
Fm Hospitality LLC
Rrl Fargo LLC
Warranty Deed
$1,912,645 · Alerus Financial NA
Jun 14, 2006
—
Rrl Fargo LLC
—
Trustees Deed
related
$791,949 · Union State Bank
Mar 1, 2005
$1,800,000
Rrl Fargo LLC
Cfg Capital Corp
Warranty Deed
$1,075,000 · Union State Bank
—
—
Rrl Fargo LLC
—
Deed Of Trust
related
$1,561,815 · Western State Bank
—
—
Fm Hospitality LLC
—
Deed Of Trust
related
$129,138 · Alerus Fin'l
—
—
Rrl Fargo LLC
—
Deed Of Trust
related
$101,044 · Western State Bank
—
—
Fm Hospitality LLC
—
Deed Of Trust
related
$1,153,000 · Certified Dev Corp Dakota
—
—
Rrl Fargo LLC
—
Deed Of Trust
related
$1,131,356 · Union State Bank
—
—
Rrl Fargo LLC
—
Deed Of Trust
related
$814,000 · Certified Dev Corp Dakota
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.
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