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    Michael Ilse, Bismarck, ND

    License ID: ND 8214
    Aspen Group
    Association
    Bismarck Mandan Board Of Realtors

    Service Locations

    Contact details

    Phone:
    (701) 400-7808
    Office Address:
    424 S 3rd St, Bismarck, ND, 58504

    Performance

    Listings
    64

    Listings

    For Sale (37)

    View map
    • $14,496,770

      Prime Minot Commercial Land

      1.4M sq ft, AG Zoning, $10/SF
      2305 37Th Ave, Minot, ND 58701
      View Details
    • $460,000
      4,049 SF

      Minot Restaurant - Investment Opportunity

      Prime location, vacant, ready for your concept.
      2145 Broadway, Minot, ND 58703
      View Details
    • $5,209,776
      18.40 Acres

      Prime Mandan Industrial Land

      18.4 Acres, I-94 Visibility
      0 Twin City Dr, Mandan, ND 58554
      View Details
    • Contact for pricing
      1.34 Acres

      Bismarck Development Land

      Prime North Bismarck location, subdividable lots.
      4415 Skyline Blvd, Bismarck, ND 58503
      View Details
    • Contact for pricing
      6.65 Acres

      Stanley, ND Industrial Land

      6.65 Acres, Build-to-Suit Potential
      8116 61St St, Stanley, ND 58784
      View Details
    • $163,667

      Bismarck Commercial Land Investment

      Prime North Bismarck lot, high traffic, near major retailers.
      4808 Ottawa St, Bismarck, ND 58503
      View Details
    • Contact for pricing
      1.01 Acres

      7 Williston Commercial Parcels

      Highway 2 frontage, prime development land.
      0 Reiger Dr, Williston, ND 58801
      View Details
    • $1,439,214

      Bismarck Commercial Land Development

      Prime North Bismarck location, high traffic, near major retailers.
      1700 Skyline Blvd, Bismarck, ND 58503
      View Details
    • $1,599,000

      Bismarck Downtown Triple-Venue Sale

      Profitable Bismarck bar & casino group.
      510 Main Ave, Bismarck, ND 58501
      View Details
    • $1,700,000
      2.54 Acres

      Mandan, ND Commercial Land Investment

      Prime 2.54-acre commercial lot in Northwest Mandan.
      0 27Th St, Mandan, ND 58554
      View Details
    • $1,500,000
      8,533 SF

      Stanley, ND Truck Wash - Bakken Area

      Established Truck Wash, High Traffic Route
      8139 61St St, Stanley, ND 58784
      View Details
    • $979,900
      3,880 SF

      Bismarck Executive Office Building

      Downtown Bismarck, 3880 sq ft, $979,900
      421 4Th St, Bismarck, ND 58501
      View Details
    • $700,000
      18.00 Acres

      Prime Ward County Development Land

      18 Acres, Hwy 23 Frontage, $700,000
      338th Sw & Hwy 23, Makoti, ND 58756
      View Details
    • $1,325,000
      12,922 SF

      Downtown Bismarck Mixed-Use Gem

      Historic 3-story building, 100% occupied
      200 Main Ave, Bismarck, ND 58501
      View Details
    • $900,000
      21.76 Acres

      Jamestown Development Land Opportunity

      21.76 Acres, C-2 Zoning, High Growth Potential
      1902 13Th St, Jamestown, ND 58401
      View Details
    • $1,800,000
      13.24 Acres

      Jamestown Development Land Opportunity

      Prime Commercial Land, I-94 Access
      256 Us-281, Jamestown, ND 58401
      View Details
    • Contact for pricing
      5.18 Acres

      Dickinson Industrial Land Parcels

      Prime ND industrial land, excellent location.
      11082 32E St, Dickinson, ND 58601
      View Details
    • $4,950,000
      29,064 SF

      Bismarck Mixed-Use Complex

      Downtown Bismarck, 8-unit building
      510 Main Ave, Bismarck, ND 58501
      View Details
    • $450,000
      2,357 SF

      Downtown Bismarck Storefront

      Prime retail space, high visibility, full basement.
      204 Main Ave, Bismarck, ND 58501
      View Details
    • $1,200,000
      30.27 Acres

      Dickinson Development Land - 30 Acres

      Prime Dickinson land, 57-lot potential.
      704 State Ave, Dickinson, ND 58601
      View Details
    • $800,000
      60.00 Acres

      Beulah, ND Commercial Land Investment

      60 Acres, Prime Development Opportunity
      0 Beulah Nd, Beulah, ND 58523
      View Details
    • $3,900,000
      65,999 SF

      Bismarck Industrial Warehouse

      66,000 SF Warehouse, Central Bismarck
      2422 Bowen Ave, Bismarck, ND 58504
      View Details
    • $1,200,000
      6,570 SF

      Downtown Bismarck Storefront Retail

      Prime Bismarck location, 6,570 sq ft retail space.
      114 4Th St, Bismarck, ND 58501
      View Details
    • $1,229,250
      49.17 Acres

      Prime Watford City Industrial Land

      49 Acres, Heavy Industrial Zoning, $1.2M
      0 Of Watford City Nd, Watford City, ND 58854
      View Details
    • $3,900,000
      65,999 SF

      Bowen Avenue Office Building For Sale

      Office building featuring private offices, conference room, and kitchenette.
      2410 E Bowen Ave, Bismarck, ND 58504
      View Details
    • $1,127,546

      Commercial Land Near Highway 83

      Three commercial parcels available near Costco and major retailers.
      5508 N 19Th St, Bismarck, ND 58501
      View Details
    • $1,173,116

      Commercial Land Near Highway 83

      Three commercial parcels available near Costco with highway access.
      5524 N 19Th St, Bismarck, ND 58501
      View Details
    • $789,743

      Dickinson Industrial Land For Sale

      5.18 acre industrial land parcel available in Dickinson, ND.
      11090 32E St SW, Dickinson, ND
      View Details
    • $1,800,000

      Commercial Land Near Interstate 94

      Commercial land near Interstate 94 and Jamestown Regional Hospital.
      3574 81St Ave SE, Jamestown, ND 58401
      View Details
    • $986,415

      Industrial Land Parcel For Sale

      6.47 acre industrial land parcel available for purchase.
      3230 Highway 22 N, Dickinson, ND 58601
      View Details
    • $2,000,000
      4,896 SF

      Retail Property with Starbucks

      Two-building retail property, fully leased, anchored by Starbucks.
      1800 22Nd Ave SW, Minot, ND 58701
      View Details
    • $3,126,620

      Commercial Land Near Highway 83

      Three commercial parcels available near major retailers and Highway 83.
      5610 N 19Th St, Bismarck, ND 58501
      View Details
    • $900,000

      Commercial Land Near Jamestown Amenities

      Commercial land near schools, activity center, university, and airport.
      2104 13Th St NE, Jamestown, ND 58401
      View Details
    • $900,000

      Industrial Land For Sale

      Industrial land with city utilities and gravel yard.
      8116 61St St NW, Stanley, ND 58784
      View Details
    • $350,660

      Commercial Land Near Lincoln Road

      Commercial land for sale near retail and event venues.
      5211 Lincoln Rd, Lincoln, ND 58504
      View Details
    • $820,235

      Industrial Land For Sale

      5.38 acres of industrial land available for purchase.
      11082 32E St SW, Dickinson, ND
      View Details
    • $460,000
      4,049 SF

      Restaurant Space Near Airport

      4,049 SF restaurant space with high traffic visibility.
      2145 N Broadway, Minot, ND 58703
      View Details

    For Lease (27)

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    • $21 SF/Yr
      1,075 SF

      Bismarck Executive Office Suite

      Prime Main Ave location, fully vacant.
      807 Main Ave, Bismarck, ND 58501
      View Details
    • $14 SF/Yr
      3,663 SF

      Upscale Bismarck Executive Suites

      Prime Downtown Bismarck Office Space
      120 3Rd St, Bismarck, ND 58501
      View Details
    • Contact for pricing
      118,483 SF

      Bismarck Commercial Land Opportunity

      3-Acre Commercial Lot, Bismarck, ND
      6941 Aurora St, Bismarck, ND 58503
      View Details
    • $14 SF/Yr
      2,076 SF

      Bismarck Office/Retail Space For Lease

      Prime Bismarck location, flexible office space.
      2208 Broadway Ave, Bismarck, ND 58501
      View Details
    • $12 SF/Yr
      2,357 SF

      Downtown Bismarck Retail/Office Space

      Prime location, 2,357 sq ft, full basement.
      204 Main Ave, Bismarck, ND 58501
      View Details
    • $12 SF/Yr
      12,947 SF

      Riverside Office Building: Bismarck, ND

      Prime Bismarck Office Space: Multiple Suites Available
      723 Memorial Hwy, Bismarck, ND 58504
      View Details
    • $17 SF/Yr
      8,354 SF

      Bismarck Office Building - 8,354 SF

      Prime NW Bismarck office space, multiple tenants.
      1720 Burnt Boat Dr, Bismarck, ND 58503
      View Details
    • $21 SF/Yr
      13,800 SF

      Bismarck Creative Office Space

      Modern, Multi-Use Office Suites in ND
      208 Greenfield Ln, Bismarck, ND 58503
      View Details
    • $8 SF/Yr
      8,163 SF

      Bismarck Office/Warehouse For Lease

      Prime Main Ave location, 8,163 sqft.
      2219 Main Ave, Bismarck, ND 58501
      View Details
    • $12 SF/Yr
      355,745 SF

      Gateway Mall Retail Space Bismarck, ND

      Prime Bismarck Retail Center - Multiple Spaces Available
      2700 State St, Bismarck, ND 58501
      View Details
    • $20 SF/Yr
      25,100 SF

      Skyline Way Medical Office Space

      Bismarck, ND medical office & restaurant space.
      1445 Skyline Way, Bismarck, ND 58503
      View Details
    • $21 SF/Yr
      2,600 SF

      Bismarck Executive Office Suite

      Prime NW Bismarck Office Space Available
      1701 Burnt Boat Dr, Bismarck, ND 58503
      View Details
    • $19 SF/Yr
      43,708 SF

      Bismarck Office Complex - 43,708 SF

      Prime NW Bismarck office space, multiple tenants.
      2000 Schafer St, Bismarck, ND 58501
      View Details
    • $13 SF/Yr
      3,880 SF

      Downtown Bismarck Office Building

      Prime Bismarck Office, Drive-Thru, Parking
      421 4Th St, Bismarck, ND 58501
      View Details
    • $21 SF/Yr
      29,064 SF

      Downtown Bismarck Office Building

      Prime Office & Retail Space, Downtown Bismarck
      510 Main Ave, Bismarck, ND 58501
      View Details
    • $12 SF/Yr
      3,600 SF

      Versatile Flex Space Available

      Adaptable 3,600 SF flex space with showroom potential.
      2385 Vermont Ave, Bismarck, ND 58504
      View Details
    • $12 SF/Yr
      18,720 SF

      Versatile Industrial Building with Vehicle Bay

      18,720 SF industrial building featuring vehicle and cold storage.
      4127 State St, Bismarck, ND 58503
      View Details
    • $19 SF/Yr
      2,150 SF

      Office Space with Private Offices

      Office space featuring reception, private offices, and open work area.
      120 26Th St E, Williston, ND 58801
      View Details
    • $14 SF/Yr
      4,636 SF

      Bismarck Office Space for Rent

      Spacious office featuring private offices, break rooms, and parking.
      2204 E Broadway Ave, Bismarck, ND 58501
      View Details
    • $1,286,000
      4,300 SF

      Main Avenue Office Space Available

      Office space with private offices, conference room, and storage.
      200 E Main Ave, Bismarck, ND 58501
      View Details
    • $25 SF/Yr
      767 SF

      Downtown Bismarck Office Space Available

      Office suites available in downtown Bismarck ranging from 525-2,560 SF.
      630 E Main Ave, Bismarck, ND 58501
      View Details
    • $17 SF/Yr
      911 SF

      Office Space with Natural Light

      Office space featuring reception area, private office, and kitchenette.
      1720 Burnt Boat Rd, Bismarck, ND
      View Details
    • $17 SF/Yr
      12,000 SF

      Prime Retail Space in Minot

      Retail space in the heart of Minot with high visibility.
      1015 S Broadway, Minot, ND 58701
      View Details
    • $7 SF/Yr
      70,000 SF

      Bismarck Warehouse Space For Lease

      70,000 square foot warehouse space available for lease.
      5104 Tandem Dr, Bismarck, ND
      View Details
    • $21 SF/Yr
      1,400 SF

      Restaurant or Retail Space Available

      Restaurant-ready or retail space with open layout and storage.
      226 E Greenfield Ln, Bismarck, ND 58503
      View Details
    • $18 SF/Yr
      1,075 SF

      Downtown Office Space For Rent

      1,075 SF office space with build-to-suit options available.
      807-861 E Main Ave, Bismarck, ND 58501
      View Details
    • $2,800 /Mo
      4,370 SF

      Renovated Retail Space with Garage

      Retail property featuring historic details, modern amenities, and garage access.
      114 N 4Th St, Bismarck, ND 58501
      View Details

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    Michael Ilse, Bismarck, ND
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    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

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    Michael Ilse, Bismarck, ND
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