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Airway Project Shop Condominiums

1-3232 Airway Ave Bismarck, ND 58504

1-3232 Airway Ave, Bismarck, ND, 58504

$301,500

For Sale

$301,500

Condo shop units with optional secured outside fenced storage.

Property Size2,010 SF

Price / SF$150

AddedApr 30

Days on Market77

Last RefreshJul 14 at 7:00 am

Property Features for 1-3232 Airway Ave

General Information

Standard status: Active
Size: 2,010 SF

Listing office Oaktree Realty

Listing date Apr 30, 2026

Source Exprealty

Displayed information is deemed reliable but is not guaranteed and should be independently verified.

All listing content including descriptions, pricing, images are the copyrighted material of Oaktree Realty

Investment Insights

Based on property information with market context.

The Airway Project Shop Condominiums offer condo shop units with optional individually secured outside fenced storage areas. Located in south Bismarck, the property provides easy access to Bismarck Expressway and I-94. These units can be utilized for business or personal purposes and are available for sale. The units range in size from 2,010 to 2,040 square feet, with the option to combine units with an open interior span. Standard features include a 14x14 front overhead door with opener and WIFI connection capabilities, 16-foot sidewalls, energy-efficient radiant heat, hot and cold water, a trench floor drain, and 220A-220v 3-phase electrical power. The front office, which includes a window, is equipped with an installed PTAC heat and A/C unit for temperature control. The bathroom includes a toilet, sink, and 50-gallon water heater, with the option for a shower and laundry area. Front and rear service doors accommodate legal business operations. The development includes 137 total parking spaces, lighted exterior, and signage space. The association, governed by covenants and by-laws, maintains snow removal, water, sewer, exterior maintenance, and exterior insurance. Units are expected to be ready for occupancy in Summer 2026.

Key Highlights

Flexible Usage: Suitable for business or personal use, available for sale or lease.
Optional Secured Storage: Individually secured, outside fenced storage areas available.
Convenient Location: Easy access to Bismarck Expressway and I‑94 in south Bismarck.

Local Financial Insights For Flex RnD

Simulate Cap Rate and NOI

NOI Build-Up

Component	$	$/SF
Gross rent	$27.7k	$13.80
− Vacancy	−$3.6k	−$1.77
EGI	$24.2k	$12.03
− OpEx	−$8.5k	−$4.21
NOI	$15.7k	$7.82

2,010 SF · lease $13.80/SF/yr · vacancy 12.80% · expense 35.00%

Alternative Uses

Best Use

Flex RnD

$224.6K

$196.5K – $262.0K (±1% cap)

NOI $15,722 @ 7.0% cap · market cap 5.21%

Second Best

Warehouse

$141.9K

$124.2K – $165.6K (±1% cap)

NOI $9,936 @ 7.0% cap · market cap 3.30%

Theoretical Best

Office A

$478.3K

$418.5K – $558.0K (±1% cap)

NOI $33,482 @ 7.0% cap · market cap 11.11%

Zoning and permitted uses should be independently verified with local authorities.

Property Analytics

Property Profile Location Intelligence

Current Use by Public Records

Flex space

Suggested Use

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For sale
Flex space
ND
Bismarck
58504
1-3232 Airway Ave

What type of property is this?

Flex space - Condo shop units with optional secured outside fenced storage.

Where is this flex space located?

The property is located at 1-3232 Airway Ave Bismarck, ND.

What is the asking price?

The asking price for this property is $301,500.

What are key features of this property?

This property features: Flexible Usage: Suitable for business or personal use, available for sale or lease.; Optional Secured Storage: Individually secured, outside fenced storage areas available.; Convenient Location: Easy access to Bismarck Expressway and I‑94 in south Bismarck.