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

    306 N 13Th St Bismarck, ND 58501

    View on Map
    Loading data...
    Loading data...
    Loading data...
    For Sale
    $429,000

    Meticulously maintained 5-plex with long-term tenants and garages.

    Building Details

    Year built
    1984

    We can help!

    Listing Contact
    George Yineman
    George Yineman
    Source: Risepropertybrokers

    Listing Agency: Rise Property Brokers, Inc. Listing Agent: George Yineman

    Displayed information is deemed reliable but is not guaranteed and should be independently verified.

    Learn more

    Overview

    Well-Maintained 5-Plex with Garages

    This meticulously maintained 5-plex, constructed in 1986, presents a solid investment opportunity. The property includes 4 single-stall garages and has a no pets or smoking policy. The building features a recently updated roof, a gas fan-forced heater that is 2 years old, and a new deck installed in 2017. Each unit is equipped with a dining area and dishwasher. The property size is 2,139 square feet, situated on an 8,240-square-foot lot. The 2024 taxes are $4,130.94, and there are no special assessments. The landlord is responsible for the house gas/electric meter, trash, water, and yard light. The total annual rent income is $40,140.00. The main building and garage roof are 5 years old. A 110-gallon water heater with a 30-minute recall is included, along with a storage shed. One of the tenants currently handles all snow removal. The current owners have maintained the property since 1986 and have long-time tenants.
    Location Intelligence

    Current Use by Public Records

    Apartment buildings

    Suggested Use

    Real Estate Agency Restaurant Law Firm Spa & Massage Center Hair Salon Dental Office Nail Salon Daycare Center Gym & Fitness Center Accounting Firm

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

    Location Insight

    • Map
    • Local Demand
    City
    Bismarck
    County
    Burleigh
    State
    North Dakota
    Longitude
    -100.7728207
    Latitude
    46.8024852

    Nearby Similar for Sale

    • $920,000
      8,146 SF

      Versatile Commercial Space in Bismarck

      Flexible 8,146 sq ft commercial space for sale.
      1100 Basin Ave, Bismarck, ND 58504
      View Details
    • $450,000

      Bismarck Restaurant Opportunity For Sale

      Restaurant property in Bismarck with high visibility and equipped kitchen.
      108 N Mandan St, Bismarck, ND 58501
      View Details
    • $660,000

      Bismarck Industrial Property with Tenant

      4,000 SF industrial property with high-end office and shop space.
      2906 Morrison Ave, Bismarck, ND 58504
      View Details
    • $599,000

      Spacious Office Condo in Bismarck

      5,517 SF office condo with high-end finishes and prime location.
      931 S 9Th St, Bismarck, ND 58504
      View Details
    • $775,000

      Versatile Building in Bismarck Area

      4,362 SF building suitable for office or retail use.
      233 W Broadway Ave, Bismarck, ND 58501
      View Details
    • $545,000

      Equipped Drive-Thru Property For Sale

      1,578 SF drive-thru property with ample parking in Bismarck.
      1922 E Broadway Ave, Bismarck, ND 58501
      View Details
    • $400,000

      Historic Downtown Bismarck Retail Building

      Historic 2,357 SF building in thriving downtown Bismarck.
      204 E Main Ave, Bismarck, ND 58501
      View Details
    • $979,900

      Versatile Office/Medical Building For Sale

      3,880 SF building ideal for office or medical use.
      421 N 4Th St, Bismarck, ND 58501
      View Details
    • $2,400,000

      Prime Bismarck Investment Opportunity

      Multi-use buildings at a sought-after intersection with income potential.
      1035 E Interstate Ave, Bismarck, ND 58501
      View Details
    • $1,625,000

      Office and Warehouse/Processing Buildings

      Office and warehouse/processing buildings on 75,481 SF site.
      1207 E Main Ave, Bismarck, ND 58501
      View Details
    • $1,400,000

      Showroom with Attached Warehouse

      North Bismarck commercial property with showroom and warehouse near I-94.
      1414 Interstate Loop, Bismarck, ND 58503
      View Details
    • $4,000,000

      Class A Office Building

      Premium office building in North Bismarck for sale.
      1611 East Century Ave, Bismarck, ND 58503
      View Details

    FAQs

    What type of property is this?
    Apartment building - Meticulously maintained 5-plex with long-term tenants and garages.
    Where is this apartment building located?
    The property is located at 306 N 13Th St Bismarck, ND.
    What is the asking price?
    The asking price for this property is $429,000.
    What are key features of this property?
    This property features: - Solid income-generating 5-plex with $40,140 annual rent income.; - Includes 4 single-stall garages, adding value and rental potential.; - Recently updated roof (5 years old) and gas fan-forced heater (2 years old) reduce maintenance concerns.
    (701) 319-3000
    Request Owner's contact information
    306 N 13Th St Bismarck, ND 58501
    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.
    306 N 13Th St
    Bismarck, ND 58501
    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
    306 N 13Th St Bismarck, ND 58501
    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

    We can help!
    Listing Contact
    George Yineman
    George Yineman
    Real Estate License ID: #7535
    (701) 319-3000 (701) 222-0232
    Learn more
    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!