Add Listing
    For Lease
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    Back to Search
    The Largest CRE Database in the US with Over 1 Million Listings

    1138 North 3rd Street Bismarck, ND 58501

    View on Map
    Loading data...
    Loading data...
    Loading data...
    For Lease
    $15 SF/Yr

    Retail space in Arrowhead Plaza with flexible leasing options.

    Type:Retail
    Property size:
    6,000 SF
    Added:
    Mar 6, 2026
    Days on Market:
    27
    Last Refresh:
    Mar 25 at 11:52 pm

    Property Features for 1138 North 3rd Street

    General Information

    Standard status
    Active
    Size
    6,000 SF
    Property subtype
    Retail

    Building Details

    Year Built
    1959

    Spaces For Lease

    at 1138 North 3rd Street Contact us

    We can help!

    Listing Contact
    George Yineman
    George Yineman

    Listing agent George Yineman License #ND #7535

    Listing office Rise Property Brokers

    Listing date Mar 6, 2026

    Source Risepropertybrokers

    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

    Overview

    Arrowhead Plaza Retail Storefront

    Located in Arrowhead Plaza in central Bismarck, this retail storefront offers a flexible layout. The space provides 6,000 total square feet, but can be divided into two 3,000 square foot spaces. Each divided space offers a potential 25' x 120' footprint, while the combined area measures 50' x 120'. Currently, there is one glass storefront, with the possibility of installing a second. The property includes 4 ADA-compliant restrooms. Leasing options include 6,000 square feet at $15.50 per square foot or 3,000 square feet at $16.50 per square foot, with additional merchant fees of $0.80 per square foot. Tenants are responsible for gas, electricity, and water utilities, presenting an opportunity for businesses seeking a customizable retail environment.
    Location Intelligence

    Current Use by Public Records

    Samantha Leingang Physician Bailey Boraas Physician Ashley Gilstad Physician The Therapy Center Physician

    Suggested Use

    Restaurant Law Firm Real Estate Agency Spa & Massage Center Hair Salon Dental Office Nail Salon Food Market Grocery & Convenience Store Gym & Fitness Center

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

    Similar Places Nearby

    • The Shop (Strohs House Of Plants) — 122 E Rosser Ave, Bismarck, ND 58501
    • Crabapple Floral — 200 N Mandan St, Bismarck, ND 58501
    • Concrete Daisiez, LLP — 222 N 4th St Suite #203, Bismarck, ND 58501

    Location Insight

    • Map
    • Local Demand
    City
    Bismarck
    County
    Burleigh
    State
    North Dakota
    Longitude
    -100.788
    Latitude
    46.818

    Nearby Similar for Lease

    • Contact for pricing

      Remodeled Downtown Commercial Space Available

      Recently remodeled commercial space in a historic downtown building.
      401 East Broadway Avenue, Bismarck, ND 58501
      View Details
    • Contact for pricing

      Renovated Suite with Shared Reception

      Private suite ideal for hairdressers, masseuses, nail technicians.
      323 N 1st St, Bismarck, ND 58501
      View Details
    • Contact for pricing

      Remodeled Downtown Commercial Space

      Recently remodeled commercial space in a historic downtown building.
      401 East Broadway Avenue, Bismarck, ND 58501
      View Details
    • Contact for pricing

      Downtown Commercial Space For Rent

      Remodeled commercial space with showroom, offices, and high visibility.
      401 East Broadway Avenue, Bismarck, ND 58501
      View Details
    • $14/mo

      Downtown Bismarck Class A Office

      Class A office space with customizable options in downtown Bismarck.
      401 East Broadway Avenue, Bismarck, ND 58501
      View Details
    • $15/mo

      Unique Commercial Space on Main

      Versatile commercial property suitable for various business concepts.
      212 E Main Ave, Bismarck, ND 58501
      View Details
    • $14/mo

      Downtown Office Space Available

      5,290 SF office space in a desirable downtown location.
      505 East Main Avenue, Bismarck, ND 58501
      View Details
    • $12/mo

      High-End Office Space Available

      Prime location with high-end finishes and abundant parking.
      931 S 9th St, Unit 201, Bismarck, ND 58504
      View Details
    • Contact for pricing

      Versatile Shop with Office Space

      2,564 SF shop with office, storage, and essential amenities.
      1239 Hemlock St, Bismarck, ND 58504
      View Details
    • Contact for pricing

      Downtown Bismarck Office Space

      1,500 SF office space in downtown Bismarck for lease.
      215 N 3rd St., Bismarck, ND 58501
      View Details
    • Contact for pricing

      North Bismarck Office Suite

      596 SF office suite with high-end finishes for rent.
      4719 Shelburne St, Bismarck, ND 58503
      View Details
    • Contact for pricing

      Newly Renovated Executive Office Space

      Executive office space with full-service amenities in Bismarck, ND.
      1925 Lovett Ave, Bismarck, ND 58504
      View Details

    FAQs

    What type of property is this?
    Storefront property - Retail space in Arrowhead Plaza with flexible leasing options.
    Where is this storefront property located?
    The property is located at 1138 North 3rd Street Bismarck, ND.
    What is the lease rate?
    The lease rate is $15 SF/Yr.
    What are key features of this property?
    This property features: Flexible space: Choose 6,000 SF or two 3,000 SF spaces.; Located in Arrowhead Plaza, Central Bismarck.; Adaptable storefront: Option for one or two glass storefronts.
    (701) 319-3000
    We can help!
    Listing Contact
    George Yineman
    George Yineman
    Real Estate License ID: ND #7535
    Learn More
    Request Owner's contact information
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    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.

    More about this property
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!