Auto Shop with
For Sale
$500,000
12-1409 Lockheed Dr, Bismarck, ND
Commercial auto service space with HVAC, office, laundry, and an EV charging station.
Property Size1,760 SF
Price / SF$284.09
Days on Market173
Property Features for 12-1409 Lockheed Dr
General Information
Standard status
Active
Size
1,760 SF
Additional Details
Business Included
Yes
Taxes and HOA fees
Annual Taxes
$2,134
Amenities
Loft
HVAC
Tiled bathroom with Shower
On-demand water heater
Office
Laundry
Level 2 EV charger
Ring doorbell
Listing Agency:
Black Star Realty
(406) 696-7134
Listed By:
Gene Seydel · License #10725
(406) 696-7134
Source:
Exprealty
Added: Mar 11
Changed: Aug 30
Last Checked: Aug 30 at 6:35PM
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 Black Star Realty
Investment Insights
Based on property information with market context.
This auto shop at 12-1409 Lockheed Dr includes a loft, HVAC, office area, laundry, and a tiled bathroom with shower. The property also features an on-demand hot water heater, Stage 2 EV charger, and wired Ring doorbell. Property size is listed as 1,760, with the space offered for purchase in Bismarck, North Dakota.
Key Highlights
- 1,760 property size at 12‑1409 Lockheed Dr
- Loft, office area, and laundry included
- HVAC and tiled bathroom with shower
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
$22,751
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
4.55%
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%
$455,020
$455.0K
Cap Rate 7%
$325,014
$325.0K
Cap Rate 9%
$252,789
$252.8K
Market Conditions
NOI Build-Up for 1,760 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
$33.4K $18.96/SF
− Vacancy
−$868 −$0.49/SF
EGI
$32.5K $18.47/SF
− OpEx
−$9.8K −$5.54/SF
NOI
$22.8K $12.93/SF
Area
Burleigh County, ND
Vacancy
2.60%
Lease Rate
$18.96 /SF/Yr
Expense Ratio
30.00%
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%
$455,020
Cap Rate 7%
$325,014
Cap Rate 9%
$252,789
Alternative Uses
Best Use
Retail
$325.0K
$284.4K – $379.2K
NOI $22,751 @ 7.0% cap · market cap 4.55%
Second Best
Industrial
$107.4K
$94.0K – $125.4K
NOI $7,521 @ 7.0% cap · market cap 1.50%
Theoretical Best
Office A
$418.8K
$366.5K – $488.6K
NOI $29,318 @ 7.0% cap · market cap 5.86%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
Turnkey business
Opportunity
Location Intelligence
Trade Area within ½ mile
5
Businesses Nearby
Well-served
Demand for This Use
Explore this area
Business Placement
Market
Vacancy Rate% for Retail in Midwest region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Auto shop - Commercial auto service space with HVAC, office, laundry, and an EV charging station.
Where is this auto shop located?
The property is located at 12-1409 Lockheed Dr Bismarck, ND.
What is the asking price?
The asking price for this property is $500,000.
What are key features of this property?
This property features: 1,760 property size at 12‑1409 Lockheed Dr; Loft, office area, and laundry included; HVAC and tiled bathroom with shower
