Listed by Property Resources Group
$3,150,000
Merchants Bank
Details
Property Type Retail
Sub Type Bank, Restaurant
Square Footage 18,210
Cap Rate 2.25%
NOI $70,781
Tenancy Multi
Brand/Tenant Chase Bank
Lease Type NNN
Lease Expiration 10/31/2031
Remaining Term 5.4
Pro-Forma Cap Rate 9.02%
Pro-Forma NOI $284,130
Price per SqFt $173
Broker Co-Op Yes
Year Built 1911
Tenant Credit Credit Rated
Retail | 2.25% CAP | 18,210 SqFt
Marketing description
The Merchants Bank building was constructed in 1911 and has undergone extensive renovation to modernize the space and prepare it for its next role in downtown Fargo’s history. Chase Bank occupies half of the first floor and there is available space for a retail or restaurant concept. Second floor is fully leased to Emerging Prairie. As Fargo’s Central Business District, downtown Fargo is home to nearly 20,000 jobs. *Opportunity Zone tax benefits may apply.
Listing Contacts
Listed by Property Resources Group
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Loan Amount
$0.00
Annual Debt Service
$--
$--
Annual Cash Flow
$70,781.00
$5,898.42/mo
Valuation Metrics
0
DSCR
2.25%
Cap Rate
2.25%
ROI
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