Industrial Shop Condominium
For Sale
$301,500
3232 Airway Avenue, Bismarck, ND 58504
Condo shop units feature 14x14 front overhead doors, 16-foot sidewalls, radiant heat, and hot/cold water.
Property Size2,010 SF
Price / SF$150
Days on Market29
Property Features for 3232 Airway Avenue
General Information
Standard status
Active
Size
2,010 SF
Total Parking Spaces
137
Property subtype
Commercial
Lease Type
NNN
Warehouse & Industrial
Clear Height
16 ft
Heavy Power
Yes
Additional Details
Highway Access
Yes
Building Details
Year Built
2025
Listing Agency:
Oaktree Realty
(701) 226-5942
Listed By:
DARREN SCHMIDT · License #7897
Source:
Clearwaterproperties
Added: Jul 4
Changed: Jul 21
Last Checked: Aug 1 at 8:08AM
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 Oaktree Realty
Investment Insights
Based on property information with market context.
Airway Project Shop Condominiums offer individually owned condo shop units with optional individually secured outside fenced storage areas. Units are designed for either business or personal use and include an open interior span option when combining units. Standard amenities include a 14x14 front overhead door with opener, radiant heat, hot and cold water, a trench floor drain, and 220A 220V 3-phase electrical power.
Each unit includes a front office with a window and an installed PTAC heat and A/C unit, plus a bathroom with a toilet, sink, and a 50-gallon water heater with an option for a shower and laundry area. Units are supported by front and rear service doors for day-to-day operations, with lighted exterior and available signage space for visibility.
The development provides a total of 137 parking spaces. An association governed by covenants and by-laws handles snow removal, water, sewer, exterior maintenance, and exterior insurance. Units are expected to be ready for occupancy in Summer 2026, with some photos of previously completed units.
Each unit includes a front office with a window and an installed PTAC heat and A/C unit, plus a bathroom with a toilet, sink, and a 50-gallon water heater with an option for a shower and laundry area. Units are supported by front and rear service doors for day-to-day operations, with lighted exterior and available signage space for visibility.
The development provides a total of 137 parking spaces. An association governed by covenants and by-laws handles snow removal, water, sewer, exterior maintenance, and exterior insurance. Units are expected to be ready for occupancy in Summer 2026, with some photos of previously completed units.
Key Highlights
- Condo shop units in south Bismarck with easy access to Bismarck Expressway and I‑94
- Units offer 14x14 front overhead door (with opener & WiFi), 16‑foot sidewalls, and an open interior span option for combining units
- Energy‑efficient radiant heat plus hot & cold water, 220A (220V 3‑phase electrical power), and trench floor drain
Financial Insights For Flex RnD
Simulate Cap Rate and NOI
NOI Build-Up
- 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.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $27.7k | $13.80 |
| − Vacancy | −$3.6k | −$1.77 |
| EGI | $24.2k | $12.03 |
| − OpEx | −$8.5k | −$4.21 |
| NOI | $15.7k | $7.82 |
2,010 SF · lease $13.80/SF/yr · vacancy 12.80% · expense 35.00%
Alternative Uses
Best Use
Flex RnD
$224.6K
$196.5K – $262.0K
NOI $15,722 @ 7.0% cap · market cap 5.21%
Second Best
Warehouse
$141.9K
$124.2K – $165.6K
NOI $9,936 @ 7.0% cap · market cap 3.30%
Theoretical Best
Office A
$478.3K
$418.5K – $558.0K
NOI $33,482 @ 7.0% cap · market cap 11.11%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
16 ft
Clear height
Yes
Heavy power
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
218
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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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 - Condo shop units feature 14x14 front overhead doors, 16-foot sidewalls, radiant heat, and hot/cold water.
Where is this flex space located?
The property is located at 3232 Airway Avenue Bismarck, ND.
What is the asking price?
The asking price for this property is $301,500.
What are key features of this property?
This property features: Condo shop units in south Bismarck with easy access to Bismarck Expressway and I‑94; Units offer 14x14 front overhead door (with opener & WiFi), 16‑foot sidewalls, and an open interior span option for combining units; Energy‑efficient radiant heat plus hot & cold water, 220A (220V 3‑phase electrical power), and trench floor drain
