Shop Condo with Outdoor
For Sale
$379,000
1416 Burlington Drive D, Bismarck, ND 58504
Upscale shop condo includes climate-controlled shop space, loft, and secured fenced outdoor storage with dual garage doors.
Property Size1,800 SF
Price / SF$210.56
Days on Market35
Property Features for 1416 Burlington Drive D
General Information
Standard status
Active
Size
1,800 SF
Property subtype
Commercial
Additional Details
Business Included
Yes
Fenced Yard
Yes
Drive-In Doors
2
Listing Agency:
Capital Real Estate Partners
(701) 223-3030
Listed By:
Desri Neether · License #8844
Source:
Trademarknd
Added: Jul 9
Changed: Aug 8
Last Checked: Aug 11 at 8:40AM
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 Capital Real Estate Partners
Investment Insights
Based on property information with market context.
This one-of-a-kind shop condo offers a versatile interior layout with an appointed exterior door to an inside front office entrance, plus an interior access door connecting the office to the main shop. The main shop features dual 14-ft garage doors at the front and back for loading, unloading, and maneuvering, along with a half bath. The building is climate-controlled with both heat and A/C, supported by a separate mechanical room.
A bonus second-story loft provides additional space above the shop for storage or workspace use. The property also includes secured, outdoor fenced storage and ample parking for visitors or work vehicles, supporting practical day-to-day operations.
With its combination of office, shop, loft, and fenced storage, the space is configured to support businesses that need both indoor work area and secure outdoor staging.
A bonus second-story loft provides additional space above the shop for storage or workspace use. The property also includes secured, outdoor fenced storage and ample parking for visitors or work vehicles, supporting practical day-to-day operations.
With its combination of office, shop, loft, and fenced storage, the space is configured to support businesses that need both indoor work area and secure outdoor staging.
Key Highlights
- 1,800 SF shop condo plus a 305 SF second‑story loft for extra storage or workspace
- Climate‑controlled main shop with heat and A/C, plus a separate mechanical room
- Dual 14‑ft garage doors (front and back) for loading, unloading, and vehicle maneuvering
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
$14,079
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
3.71%
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%
$281,580
$281.6K
Cap Rate 7%
$201,129
$201.1K
Cap Rate 9%
$156,433
$156.4K
Market Conditions
NOI Build-Up for 1,800 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
$24.8K $13.80/SF
− Vacancy
−$3.2K −$1.77/SF
EGI
$21.7K $12.03/SF
− OpEx
−$7.6K −$4.21/SF
NOI
$14.1K $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%
$281,580
Cap Rate 7%
$201,129
Cap Rate 9%
$156,433
Alternative Uses
Best Use
Flex RnD
$201.1K
$176.0K – $234.7K
NOI $14,079 @ 7.0% cap · market cap 3.71%
Second Best
Warehouse
$127.1K
$111.2K – $148.3K
NOI $8,898 @ 7.0% cap · market cap 2.35%
Theoretical Best
Office A
$428.3K
$374.8K – $499.7K
NOI $29,984 @ 7.0% cap · market cap 7.91%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Drive-in doors
Turnkey business
Opportunity
Yes
Fenced yard
Location Intelligence
Trade Area within ½ mile
425
Businesses Nearby
Well-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
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Frequently Asked Questions
What type of property is this?
Flex space - Upscale shop condo includes climate-controlled shop space, loft, and secured fenced outdoor storage with dual garage doors.
Where is this flex space located?
The property is located at 1416 Burlington Drive D Bismarck, ND.
What is the asking price?
The asking price for this property is $379,000.
What are key features of this property?
This property features: 1,800 SF shop condo plus a 305 SF second‑story loft for extra storage or workspace; Climate‑controlled main shop with heat and A/C, plus a separate mechanical room; Dual 14‑ft garage doors (front and back) for loading, unloading, and vehicle maneuvering
