Two-Suite Office
New
For Sale
$196,000
1004 E Central Ave, Bismarck, ND 58501
The condominium pairs established leased office space with a second finished suite for additional office use.
Property Size1,000 SF
Price / SF$196
Days on Market5
Property Features for 1004 E Central Ave
General Information
Standard status
Active
Size
1,000 SF
Property subtype
Office
Financials
Asking Price
$196,000
HOA Fee
$300
Additional Details
Road Access
Yes
Office Units
2
Building Details
Building Size
1,000 SF
Year Built
1981
Tenancy
Multi
Listing Agency:
Rise Property Brokers, Inc.
Listed By:
George Yineman · License #ND #7535
(701) 319-3000
Source:
Risepropertybrokers
Added: Oct 1
Last Checked: Oct 4 at 8:24AM
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 Rise Property Brokers, Inc.
Investment Insights
Based on property information with market context.
At 1004 E Central Ave, this 1,000-square-foot office condominium is divided into two finished suites. Suite A spans 750 square feet and is leased month to month; it has open work areas, carpet, fluorescent lighting, a glass entry door, a breakroom with sink, and a closet/server room. Suite B contains 250 square feet of open work area, new carpet, LED lighting, two windows, and a glass entry door. The building dates to 1981.
The property has access to State Street. Its two-suite layout combines leased office space with an additional finished suite, with distinct interior features in each.
The property has access to State Street. Its two-suite layout combines leased office space with an additional finished suite, with distinct interior features in each.
Key Highlights
- 1,000‑square‑foot office condominium with two finished suites
- Suite A contains 750 square feet and is leased month to month
- Suite B provides 250 square feet, two windows, and LED lighting
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$12,988
Cap Rate
6.63%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$259,760
$259.8K
Cap Rate 7%
$185,543
$185.5K
Cap Rate 9%
$144,311
$144.3K
Market Conditions
NOI Build-Up for 1,000 SF
Gross rent
$20.2K $20.16/SF
− Vacancy
−$2.8K −$2.84/SF
EGI
$17.3K $17.32/SF
− OpEx
−$4.3K −$4.33/SF
NOI
$13.0K $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 Rate 5%
$259,760
Cap Rate 7%
$185,543
Cap Rate 9%
$144,311
Alternative Uses
Best Use
Office B
$185.5K
$162.4K – $216.5K
NOI $12,988 @ 7.0% cap · market cap 6.63%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$238.0K
$208.2K – $277.6K
NOI $16,658 @ 7.0% cap · market cap 8.50%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
Current Use
Lease Details
2
Office units
Multi-tenant
Tenancy
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
684
Businesses Nearby
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
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Office in Midwest region
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Frequently Asked Questions
What type of property is this?
Office units - The condominium pairs established leased office space with a second finished suite for additional office use.
Where is this office units located?
The property is located at 1004 E Central Ave Bismarck, ND.
What is the asking price?
The asking price for this property is $196,000.
What are key features of this property?
This property features: 1,000‑square‑foot office condominium with two finished suites; Suite A contains 750 square feet and is leased month to month; Suite B provides 250 square feet, two windows, and LED lighting
