Building Details

Year Built 2013

Listing Agency: Realty One Group - Encore

Listed By: PATRICK KOSKI · License #8121 Show Phone

Source: Gabrielblackre

Added: Oct 2 Changed: Oct 31 Last Checked: Oct 31 at 2:20PM

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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 Realty One Group - Encore

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Investment Insights

Based on property information with market context.

This medical office condominium at 1401 Skyline Boulevard offers four offices, a reception area, a conference room, a break room, and a storage/flex room. The building, completed in 2013, has an elevator and shared common-area restrooms. Some furniture may be included.

The suite is in a business park in northwest Bismarck, North Dakota.

Key Highlights

• Four private offices plus reception, conference, break, and storage/flex areas
• Elevator access and shared common‑area restrooms
• Built in 2013

Financial Insights

Estimated NOI and Cap Rate

NOI / Yr

$24,781

Cap Rate

3.67%

Suggested Prices Based on Cap Rates

Cap Rate 5%

$495,620 $495.6K

Cap Rate 7%

$354,014 $354.0K

Cap Rate 9%

$275,344 $275.3K

Is this asking price fair?

Market Conditions

NOI Build-Up for 1,908 SF

Gross rent

$38.5K $20.16/SF

− Vacancy

−$5.4K −$2.84/SF

EGI

$33.0K $17.32/SF

− OpEx

−$8.3K −$4.33/SF

NOI

$24.8K $12.99/SF

Area

Burleigh County, ND

Vacancy

14.10%

Lease Rate

$20.16 /SF/Yr

Expense Ratio

25.00%

Simulate Cap Rate and NOI

Suggested Prices Based on Cap Rates

Cap Rate 5%

$495,620

Cap Rate 7%

$354,014

Cap Rate 9%

$275,344

Alternative Uses

Best Use

Office B

$354.0K

$309.8K – $413.0K (±1% cap)

NOI $24,781 @ 7.0% cap · market cap 3.67%

Second Best

Healthcare Medical

$324.9K

$284.3K – $379.1K (±1% cap)

NOI $22,746 @ 7.0% cap · market cap 3.37%

Theoretical Best

Office A

$454.0K

$397.3K – $529.7K (±1% cap)

NOI $31,783 @ 7.0% cap · market cap 4.71%

Zoning and permitted uses should be independently verified with authorities. How Realmo checks its estimates

Property Analytics

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Open Analytics

Current Use

Realty One Group ... Real Estate Agency Jessica Petrick, Realty ... Real Estate Agency Brandon Steckler, Realtor ... Real Estate Agency Dr. Timothy Anderson Dental Office Courtney Maier, Realtor ... Real Estate Agency

Suggested Use

Top Pick Building Supply Big Box & Wholesale Store Law Firm Parking Lot & Garage Electrical Service HVAC Service

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

Location Intelligence

Trade Area within ½ mile

505

Businesses Nearby

Well-served

Demand for This Use

Explore this area Business Placement

Demographics for 58503, ND

37,157

Population

15,997

Households

2.3

Avg Household Size

39

Median Age

48%

College-Educated

96%

High-School Grad

135.6 sq mi

ZIP Area

274

Density / Sq Mi

$105,108

Median Household Income

$60,058

Median Earnings

$1,131

Median Rent

$383,300

Median Home Value

Market

Vacancy Rate% for Office in Midwest region

13.7% 2019

15.6% 2020

17.1% 2021

18.9% 2022

21% 2023

22% 2024

21.3% 2025

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Frequently Asked Questions

What type of property is this?

Medical Office Space - The condominium includes private offices, reception, conference, break, and flexible storage areas.

Where is this medical office space located?

The property is located at 1401 Skyline Boulevard Bismarck, ND.

What is the asking price?

The asking price for this property is $675,000.

What are key features of this property?

This property features: Four private offices plus reception, conference, break, and storage/flex areas; Elevator access and shared common‑area restrooms; Built in 2013