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23189571
23189572

228 Broadway N, Fargo, ND 58102 For Sale

DS
ND 7266
Brokers Commercial Property LLC
Listed by Brokers Commercial Property LLC
$2,375,500
538 days on market
Updated 33 days ago
Opportunity zone

228 Broadway Fargo

Details
Property Type Mixed Use, Multifamily
Sub Type Investment Property
Square Footage 9,312
Units 8
Cap Rate 8.00%
Occupancy 100%
Lease Type NNN
Lease Term 10
Remaining Term 10
Broker Co-Op Yes
Year Built 1900
Year Renovated 2021
Buildings 1
Lot Size (SqFt) 4,200
Investment Type Sale/Leaseback
Sale Condition Sale for leaseback

Mixed Use | 8.00% CAP | 9,312 SqFt

Marketing description

10-Year NNN Lease: Secured investment with a prosperous tenant. Cap Rate: 8% Established Business: · Tenant owns Boss’ Pizza and Chicken Franchise. Diverse Income Streams: Includes 8 fully-occupied multifamily units. Capital Improvements: $800,000.00 invested in the past 4 years, including: Replacement of the main water line. New restroom facilities. Complete interior renovation down to the studs, with all new electrical, plumbing, and HVAC systems. New fire suppression system. Roof enhancements with new HVAC and kitchen exhaust systems on engineered I-beams. Professional commercial kitchen installed in 2021. Permits and Inspections: All work was properly permitted, engineered, and passed inspections by the City of Fargo. Situated between two of the busiest sidewalks in North Dakota. Across the street from the $100 million RDO building. This meticulously upgraded property offers a prime investment opportunity with a strong tenant, multiple income streams, and a strategic location. Don't miss your chance to own this exceptional commercial property in Fargo, ND!

Investment highlights

110-Year NNN Lease: Secured investment with a prosperous tenant. Cap Rate: 8% Established Business: · Tenant owns Boss’ Pizza and Chicken Franchise. Diverse Income Streams: Includes 8 fully-occupied multifamily units. Capital Improvements: $1.2 million invested in the past 4 years, including: Replacement of the main water line. New restroom facilities. Complete interior renovation down to the studs, with all new electrical, plumbing, and HVAC systems. New fire suppression system. Roof enhancements with new HVAC and kitchen exhaust systems on engineered I-beams. Professional commercial kitchen installed in 2021. Permits and Inspections: All work was properly permitted, engineered, and passed inspections by the City of Fargo. Situated between two of the busiest sidewalks in North Dakota. Across the street from the $100 million RDO building. This meticulously upgraded property offers a prime investment opportunity with a strong tenant, multiple income streams, and a strategic location. Don't miss your chance to own this exceptional commercial property in Fargo, ND!

Listing Contacts

DS
ND 7266
Brokers Commercial Property LLC
Listed by Brokers Commercial Property LLC

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