Salon-Ready Spa & Wellness
For Sale
$524,900
1 Avenue, Bismarck, ND 58501
Finished shop condo with salon infrastructure, central air, and a flexible layout for professional services.
Property Size3,059 SF
Price / SF$171.59
Days on Market104
Property Features for 1 Avenue
General Information
Standard status
Active
Size
3,059 SF
Property subtype
Office
Additional Details
Utilities to Site
Yes
Taxes and HOA fees
Annual Taxes
$5,962
Amenities
Central Air
3
Parking.
Concrete Driveway, Off Street, Lot.
160 x 180, 0.53
Overhead Doors. City Road.
Building Details
Year Built
2018
Stories
2
Listing Agency:
CENTURY 21 Morrison Realty
(701) 400-9930
Listed By:
JASON BECKER · License #9487
(701) 400-9930
Source:
Xome
Added: May 19
Changed: Aug 30
Last Checked: Aug 30 at 11:45AM
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 CENTURY 21 Morrison Realty
Investment Insights
Based on property information with market context.
This 3,059-square-foot shop condo was built in 2018 and configured for salon and wellness operations. Existing plumbing, service stations, and service-ready utilities support beauty and personal-care services, while the finished interior includes modern finishes, dedicated work areas, and an adaptable floor plan. Central air is also in place.
The property includes parking, a concrete driveway, and off-street parking. The site measures 160 x 180 and encompasses 0.53 acres, with access from a city road. Overhead doors are included, adding functional flexibility beyond the client-facing areas.
The property includes parking, a concrete driveway, and off-street parking. The site measures 160 x 180 and encompasses 0.53 acres, with access from a city road. Overhead doors are included, adding functional flexibility beyond the client-facing areas.
Key Highlights
- 3,059 SF shop condo built in 2018
- Existing salon plumbing, stations, and service‑ready utilities
- Modern finishes with dedicated work areas
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$39,731
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
7.57%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$794,620
$794.6K
Cap Rate 7%
$567,586
$567.6K
Cap Rate 9%
$441,456
$441.5K
Market Conditions
NOI Build-Up for 3,059 SF
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.
Gross rent
$61.7K $20.16/SF
− Vacancy
−$8.7K −$2.84/SF
EGI
$53.0K $17.32/SF
− OpEx
−$13.2K −$4.33/SF
NOI
$39.7K $12.99/SF
Area
Burleigh County, ND
Vacancy
14.10%
Lease Rate
$20.16 /SF/Yr
Expense Ratio
25.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$794,620
Cap Rate 7%
$567,586
Cap Rate 9%
$441,456
Alternative Uses
Best Use
Office B
$567.6K
$496.6K – $662.2K
NOI $39,731 @ 7.0% cap · market cap 7.57%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$727.9K
$637.0K – $849.3K
NOI $50,956 @ 7.0% cap · market cap 9.71%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
2,366
Businesses Nearby
Well-served
Demand for This Use
Explore this area
Business Placement
Demographics for 58501, ND
28,388
Population
13,445
Households
2.1
Avg Household Size
38
Median Age
35%
College-Educated
95%
High-School Grad
22.8 sq mi
ZIP Area
1,245
Density / Sq Mi
$69,796
Median Household Income
$45,237
Median Earnings
$938
Median Rent
$276,000
Median Home Value
Market
Vacancy Rate% for Office in Midwest region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Similar Off Market Nearby
- HealthSource Chiropractic of Bismarck South — 232 W Front Ave, Bismarck, ND 58504
- Dr. Carlyle Scott, D.C. — 232 W Front Ave, Bismarck, ND 58504
- Active Life Chiropractic — 215 W Main Ave, Bismarck, ND 58501
- Redeeming Hope Wellness — 200 E Main Ave #201, Bismarck, ND 58501
- Elizabeth Allmendinger, ND — 705 E Main Ave, Bismarck, ND 58501
Frequently Asked Questions
What type of property is this?
Spa & wellness property - Finished shop condo with salon infrastructure, central air, and a flexible layout for professional services.
Where is this spa & wellness property located?
The property is located at 1 Avenue Bismarck, ND.
What is the asking price?
The asking price for this property is $524,900.
What are key features of this property?
This property features: 3,059 SF shop condo built in 2018; Existing salon plumbing, stations, and service‑ready utilities; Modern finishes with dedicated work areas
