Industrial Warehouse with
For Sale
Contact for pricing
1202 Airport Rd, Bismarck, ND 58504
Functional industrial building includes a bright showroom, two offices, and radiant-heated warehouse space with a platform loading dock.
Property Size7,416 SF
Lot Size0.62 Acres
Price / SF$117.99
Days on Market195
Property Features for 1202 Airport Rd
General Information
Standard status
Active
Size
7,416 SF
Lot size
0.62 Acres
Property subtype
INDUSTRIAL
Amenities
Radiant Heat
Platform Loading Dock
Showroom
2 Bathrooms
2 Offices
IT Room
Mop Sink
Floor Drain
Listing Agency:
Aspen Group
(701) 223-2450
Listed By:
Michael Ilse · License #8214
(701) 400-7808
Source:
Moodyscre
Added: Feb 24
Changed: Aug 14
Last Checked: Aug 14 at 7:57AM
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 Aspen Group
Investment Insights
Based on property information with market context.
This versatile industrial property includes 7,416 SF of functional space on a 0.62-acre lot. The building is well maintained and features a bright showroom, two offices, and an IT room, along with two bathrooms for day-to-day operations.
The warehouse area is equipped with radiant heat and a platform loading dock to support efficient receiving and distribution. Practical utility features include a mop sink and floor drain.
Overall, the layout combines customer-facing showroom space with dedicated office and support rooms, backed by a heated warehouse and docked loading for industrial or service-oriented use.
The warehouse area is equipped with radiant heat and a platform loading dock to support efficient receiving and distribution. Practical utility features include a mop sink and floor drain.
Overall, the layout combines customer-facing showroom space with dedicated office and support rooms, backed by a heated warehouse and docked loading for industrial or service-oriented use.
Key Highlights
- 7,416 SF industrial building on a 27,094 SF (0.62‑acre) lot on Airport Road
- Warehouse has radiant heat and a platform loading dock for loading and storage operations
- Interior includes a bright showroom plus two offices and an IT room
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
$58,007
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
6.63%
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%
$1,160,140
$1.2M
Cap Rate 7%
$828,671
$828.7K
Cap Rate 9%
$644,522
$644.5K
Market Conditions
NOI Build-Up for 7,416 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
$102.3K $13.80/SF
− Vacancy
−$13.1K −$1.77/SF
EGI
$89.2K $12.03/SF
− OpEx
−$31.2K −$4.21/SF
NOI
$58.0K $7.82/SF
Area
Burleigh County, ND
Vacancy
12.80%
Lease Rate
$13.80 /SF/Yr
Expense Ratio
35.00%
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%
$1,160,140
Cap Rate 7%
$828,671
Cap Rate 9%
$644,522
Alternative Uses
Best Use
Flex RnD
$828.7K
$725.1K – $966.8K
NOI $58,007 @ 7.0% cap · market cap 6.63%
Second Best
Warehouse
$523.7K
$458.3K – $611.0K
NOI $36,660 @ 7.0% cap · market cap 4.19%
Theoretical Best
Office A
$1.76M
$1.54M – $2.06M
NOI $123,534 @ 7.0% cap · market cap 14.12%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
608
Businesses Nearby
Under-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
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
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 - Functional industrial building includes a bright showroom, two offices, and radiant-heated warehouse space with a platform loading dock.
Where is this flex space located?
The property is located at 1202 Airport Rd Bismarck, ND.
What is the asking price?
The asking price for this property is $875,000.
What are key features of this property?
This property features: 7,416 SF industrial building on a 27,094 SF (0.62‑acre) lot on Airport Road; Warehouse has radiant heat and a platform loading dock for loading and storage operations; Interior includes a bright showroom plus two offices and an IT room
