Airway Project Shop
For Sale
$301,500
1-3232 Airway Ave, Bismarck, ND 58504
Condo shop units with optional secured outside fenced storage.
Property Size2,010 SF
Price / SF$150
Days on Market94
Property Features for 1-3232 Airway Ave
General Information
Standard status
Active
Size
2,010 SF
Listing Agency:
Oaktree Realty
(701) 226-5942
Listed By:
DARREN SCHMIDT · License #7897
(701) 226-5942
Source:
Exprealty
Added: Apr 30
Changed: Jul 10
Last Checked: Jul 31 at 5:00PM
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.
Financial Insights For Flex RnD
Simulate Cap Rate and NOI
NOI Build-Up
- Vacancy
- income lost from leasable area expected to sit empty during the year — subtracted from gross rent.
- EGI (Effective Gross Income)
- gross rent minus vacancy losses — the realistic income before paying operating costs.
- OpEx (Operating Expenses)
- recurring costs to operate the property (property tax, insurance, utilities, maintenance, management) — excludes financing and capital improvements.
- NOI (Net Operating Income)
- income a property generates after operating costs but before financing and taxes.
| 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
NOI $15,722 @ 7.0% cap · market cap 5.21%
Second Best
Warehouse
$141.9K
$124.2K – $165.6K
NOI $9,936 @ 7.0% cap · market cap 3.30%
Theoretical Best
Office A
$478.3K
$418.5K – $558.0K
NOI $33,482 @ 7.0% cap · market cap 11.11%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
449
Businesses Nearby
Well-served
Demand for This Use
Explore this area
Business Placement
Demographics for 58504, ND
29,517
Population
12,479
Households
2.4
Avg Household Size
35
Median Age
31%
College-Educated
94%
High-School Grad
103.3 sq mi
ZIP Area
286
Density / Sq Mi
$78,671
Median Household Income
$45,817
Median Earnings
$940
Median Rent
$282,100
Median Home Value
Market
Vacancy Rate% for Industrial in Midwest region
Questions? Ask Rey
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Similar Off Market Nearby
- Key West Cafe Food Truck — carpet garage, bismarck, nd 58504
Frequently Asked Questions
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.
