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6 Broadway 23,503 SF Retail Building Fargo, ND 58102 $3,150,000 ($134.03/SF) 8.02% Cap Rate
Investment Highlights
- Strong tenant mix with recent long-term lease extensions
- Prime location in Fargo's dynamic downtown corridor
- Opportunity to increase NOI through leasing of basement and vacant suite
- NNN leases with approximately 95+% of property expenses CAM'd back to tenants
- Built-in rent escalations offer reliable income growth
- This property offers long-term value and immediate cash flow in a premium location
Executive Summary
Located in the heart of Downtown Fargo, 6 Broadway presents a rare opportunity to acquire a stabilized, multi-tenant investment property with long-term leases in place and strong tenant retention. This high-visibility property offers a blend of income security and future upside.
Current Tenants:
1st Floor
-Lease through July 2028, with a 5-year renewal option
-Occupies 12,385 SF (including 7,800 SF basement)
-Lease includes 2% annual increases
-Potential to recapture and re-lease underutilized basement space
2nd Floor
-Recently extended lease through October 2027, with two-year renewal option
-Occupies 10,478 SF
-Lease includes 3% annual increases
Vacancy Opportunity:
-640 SF main level space with direct access from main vestibule, ideal for boutique retail or office
Current Tenants:
1st Floor
-Lease through July 2028, with a 5-year renewal option
-Occupies 12,385 SF (including 7,800 SF basement)
-Lease includes 2% annual increases
-Potential to recapture and re-lease underutilized basement space
2nd Floor
-Recently extended lease through October 2027, with two-year renewal option
-Occupies 10,478 SF
-Lease includes 3% annual increases
Vacancy Opportunity:
-640 SF main level space with direct access from main vestibule, ideal for boutique retail or office
Property Facts
Sale Type
Investment
Property Type
Retail
Property Subtype
Storefront Retail/Office
Building Size
23,503 SF
Building Class
C
Year Built/Renovated
1899/2022
Price
$3,150,000
Price Per SF
$134.03
Cap Rate
8.02%
NOI
$252,586
Tenancy
Single
Building Height
2 Stories
Building FAR
1.00
Lot Size
0.54 AC
Opportunity Zone
Yes
Zoning
DMU - Downtown Mixed Use
Parking
20 Spaces (0.85 Spaces per 1,000 SF Leased)
Frontage
86’ on Broadway
Amenities
- Signage
Major Tenants
- Tenant
- Industry
- SF Occupied
- Rent/SF
- Lease End
-
- Accommodation and Food Services
- -
- -
- -
- Precision Dental Lab
- Manufacturing
- -
- -
- -
| Tenant | Industry | SF Occupied | Rent/SF | Lease End | ||
|
|
Accommodation and Food Services | - | - | - | ||
| Precision Dental Lab | Manufacturing | - | - | - |
Walk Score®
Walker's Paradise (93)
Bike Score®
Very Bikeable (78)
Nearby Major Retailers
Property Taxes
| Parcel Numbers | Improvements Assessment | $1,159,850 | |
| Land Assessment | $85,000 | Total Assessment | $1,244,850 |
Property Taxes
Parcel Numbers
Land Assessment
$85,000
Improvements Assessment
$1,159,850
Total Assessment
$1,244,850
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6 Broadway
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