Building Details

Year Built 2019

Listing Agency: NORTHWEST REALTY GROUP

Listed By: JIM CHRISTIANSON Show Phone

Source: Corerealestateadvisors

Added: Sep 9 Changed: Sep 23 Last Checked: Oct 4 at 2:50PM

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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 NORTHWEST REALTY GROUP

Investment Insights

Based on property information with market context.

This 1,800-square-foot shop condominium was built in 2019 and configured for efficient commercial or light industrial use. The 30-by-60-foot interior includes 16-foot sidewalls, a 14-by-14-foot overhead door with two remotes and Wi-Fi capability, radiant heat, new LED ceiling lighting, and 4-foot-deep industrial-grade rack shelving. Rough-in plumbing, 3-phase electrical service, and a trench floor drain add functional infrastructure for shop operations.

The property is located near Sam's Club, south Walmart, Dunn Brothers Coffee, the FedEx Ship Center, and the Bobcat Acceleration Center, with additional businesses in the surrounding commercial area.

Key Highlights

• 1,800 SF shop condominium built in 2019
• 30' x 60' space with 16' side walls
• 14' x 14' overhead door with 2 remotes and Wi‑Fi capability

Financial Insights

Estimated NOI and Cap Rate

NOI / Yr

$14,079

Cap Rate

5.42%

Suggested Prices Based on Cap Rates

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

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 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 (±1% cap)

NOI $14,079 @ 7.0% cap · market cap 5.42%

Second Best

Warehouse

$127.1K

$111.2K – $148.3K (±1% cap)

NOI $8,898 @ 7.0% cap · market cap 3.42%

Theoretical Best

Office A

$428.3K

$374.8K – $499.7K (±1% cap)

NOI $29,984 @ 7.0% cap · market cap 11.54%

Zoning and permitted uses should be independently verified with authorities.

Property Analytics

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Current Use

Shaun Kessler Construction Construction Company

Suggested Use

Top Pick Locksmith Grocery & Convenience Store Catering Service Dental Office Pharmacy Barber Shop

Score = modeled unmet demand for each use within ~1 mi (higher = bigger opportunity). Zoning and permitted uses should be independently verified with local authorities.

Lease Details

16 ft

Clear height

1

Drive-in doors

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

4.4% 2019

4.9% 2020

3.6% 2021

3.1% 2022

4.6% 2023

5% 2024

4.9% 2025

Questions? Ask Rey

Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.

What type of property is this? Where is this flex space located? What is the asking price? Find similar properties What are key features of this property?

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Frequently Asked Questions

What type of property is this?

Flex space - Efficient shop condominium with industrial utilities, radiant heat, built-in shelving, and convenient access to established commercial businesses.

Where is this flex space located?

The property is located at 1429 Burlington Dr Unit 3 Bismarck, ND.

What is the asking price?

The asking price for this property is $259,900.

What are key features of this property?

This property features: 1,800 SF shop condominium built in 2019; 30' x 60' space with 16' side walls; 14' x 14' overhead door with 2 remotes and Wi‑Fi capability