Equipped Drive-Thru Property For
For Sale
$545,000
1922 E Broadway Ave, Bismarck, ND 58501
1,578 SF drive-thru property with ample parking in Bismarck.
Property Size958 SF
Price / SF$345.37
Days on Market159
Property Features for 1922 E Broadway Ave
General Information
Standard status
Active
Size
958 SF
Property subtype
Retail
Building Details
Building Size
958 SF
Year Built
1972
Listing Agency:
Rise Property Brokers
(701) 425-9427
Listed By:
Adam Geiger, CCIM · License #ND #10233
Source:
Risepropertybrokers
Added: Mar 6
Changed: Aug 8
Last Checked: Aug 8 at 6:07AM
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
Investment Insights
Based on property information with market context.
This 1,578 square foot drive-thru property, remodeled in 1995, includes ample parking. The building has a 958 square foot main footprint, a 260 square foot storage/cooler area, and a 360 square foot basement. The property features walk-in cooler (10' x 8') and walk-in freezer (10' x 8'). It also includes a grease hood and condensation hood, two rooftop HVAC units, three compartment and handwashing sinks. A small dining area is equipped with tables and chairs, currently seating 31. The 12' x 30' basement includes a bathroom, grease trap, and reverse osmosis water purifier. The property is equipped with a fire suppression system, a security system, two 250 amp electrical panels, and three 240v outlets in the kitchen. Additional features include a restroom, exhaust fans and makeup air units on the roof, and drive-thru technology. Pylon signage and a menu board are included. The property's 2025 taxes are $4,018.84, with a specials balance of $4,650.28 and specials installments of $1,185.08.
Key Highlights
- Drive‑thru property with ample parking.
- Includes essential equipment: walk‑in cooler, walk‑in freezer, grease hood, condensation hood, and grease trap.
- Equipped with fire suppression and security systems.
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
$18,916
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
3.47%
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%
$378,320
$378.3K
Cap Rate 7%
$270,229
$270.2K
Cap Rate 9%
$210,178
$210.2K
Market Conditions
NOI Build-Up for 1,578 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
$26.9K $17.04/SF
− Vacancy
−$1.7K −$1.06/SF
EGI
$25.2K $15.98/SF
− OpEx
−$6.3K −$4.00/SF
NOI
$18.9K $11.99/SF
Area
Burleigh County, ND
Vacancy
6.20%
Lease Rate
$17.04 /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%
$378,320
Cap Rate 7%
$270,229
Cap Rate 9%
$210,178
Alternative Uses
Best Use
Specialty Retail
$270.2K
$236.5K – $315.3K
NOI $18,916 @ 7.0% cap · market cap 3.47%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$375.5K
$328.6K – $438.1K
NOI $26,286 @ 7.0% cap · market cap 4.82%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
2,851
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
Market
Vacancy Rate% for Retail in Midwest region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Drive through restaurant - 1,578 SF drive-thru property with ample parking in Bismarck.
Where is this drive through restaurant located?
The property is located at 1922 E Broadway Ave Bismarck, ND.
What is the asking price?
The asking price for this property is $545,000.
What are key features of this property?
This property features: Drive‑thru property with ample parking.; Includes essential equipment: walk‑in cooler, walk‑in freezer, grease hood, condensation hood, and grease trap.; Equipped with fire suppression and security systems.
