For Sale
$3,150,000

855 45Th StFargo, ND 58103

Multi-Tenant Retail Center, High NOI

Overview

Added:
Dec 11, 2024
Days on market:
115
This exceptional investment opportunity presents a stabilized, multi-tenant retail property located at 855 45th St S, Fargo, ND 58103, within the Westfield Business Park. The property, built in 1997 and renovated in 2019, encompasses a single-story, 24,481 square foot building situated on a substantial 122,895 square foot lot. Currently boasting 87.5% occupancy across seven tenants, the property generates a strong net operating income (NOI) of $266,564, yielding an attractive 8.46% cap rate. The asking price is $3,150,000, translating to $128.67 per square foot. The property is classified as Class B, with a NNN lease structure. Zoned for commercial use, this property offers a compelling value-add investment opportunity. The property features eight units and is categorized as a restaurant and storefront, offering a diverse tenant mix. The property's strong financial performance, combined with its prime location and significant lot size, makes it an ideal investment for discerning buyers seeking a stable and potentially appreciating asset. The property's APN is 01-3880-01609-000 and is held in trust. Occupancy commenced on February 1st, 2016.

Highlights

  • $3,150,000 asking price for a stabilized, value-add retail investment.
  • Multi-tenant property (7 tenants) with 24,481 square feet of net rentable space.
  • 8.46% cap rate with a current NOI of $266,564.
  • Located at 855 45th St S, Fargo, ND 58103, on a 122,895 square foot lot.
  • Class B building, built in 1997 and renovated in 2019, featuring one single-story building.
  • 87.5% occupancy rate, with an occupancy date of February 1, 2016.

Property Details for 855 45Th St

Property type
Retail properties, Restaurants
Square Feet
24,481 SF
Class
B
Year Built/Renovated
1997/2019
Buildings
1
Stories
1
Units
8

Location Insight

City
Fargo
County
Cass
State
North Dakota
Latitude
46.8677735
Longitude
-96.862772
855 45Th St, Fargo, North Dakota

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855 45Th St
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