Flex Property with Shop and
For Sale
$1,250,000
1406 E Broadway Avenue, Bismarck, ND 58501
Two-suite flex building includes a leased unit, office/shop space with spray booth, and 15 storage units.
Property Size3,587 SF
Price / SF$348.48
Days on Market159
Property Features for 1406 E Broadway Avenue
General Information
Standard status
Active
Size
3,587 SF
Property subtype
Business Opportunities
Taxes and HOA fees
Annual Taxes
$8,923
Amenities
A/C - Other, Ceiling Fan(s), Attic Fan
3
Level
Irregular, 0.6
Overhead Doors. City Road, Level.
Building Details
Year Built
1950
Tenancy
Multi
Listing Agency:
(701) 557-7747
Listed By:
Capital Real Estate Partners
(701) 220-7265
Source:
Xome
Added: Mar 30
Changed: Sep 2
Last Checked: Sep 4 at 2:41AM
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 flex property offers a flexible layout with multiple income-producing components. One suite is currently leased to a commercial tenant, providing immediate rental income. The second suite was previously home to an auto-body business and includes office space, a spacious shop area, and a spray booth, supporting a range of automotive-related work setups. In addition, the property includes 15 storage units, with 14 units approximately 12x22 and one oversized unit for additional storage capacity.
Located in the heart of Bismarck, the property sits on a large lot designed to support accessibility for trucks, equipment, and customer parking. The offering is sold as is, and the agent is related to the seller.
Located in the heart of Bismarck, the property sits on a large lot designed to support accessibility for trucks, equipment, and customer parking. The offering is sold as is, and the agent is related to the seller.
Key Highlights
- Two‑suite commercial/flex building with one suite currently leased for immediate rental income
- Second suite includes office space, a spacious shop area, and a spray booth
- Includes 15 storage units: 14 units approx. 12x22 plus 1 oversized unit
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
$46,369
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%
$927,380
$927.4K
Cap Rate 7%
$662,414
$662.4K
Cap Rate 9%
$515,211
$515.2K
Market Conditions
NOI Build-Up for 3,587 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
$68.0K $18.96/SF
− Vacancy
−$1.8K −$0.49/SF
EGI
$66.2K $18.47/SF
− OpEx
−$19.9K −$5.54/SF
NOI
$46.4K $12.93/SF
Area
Burleigh County, ND
Vacancy
2.60%
Lease Rate
$18.96 /SF/Yr
Expense Ratio
30.00%
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%
$927,380
Cap Rate 7%
$662,414
Cap Rate 9%
$515,211
Alternative Uses
Best Use
Retail
$662.4K
$579.6K – $772.8K
NOI $46,369 @ 7.0% cap · market cap 3.71%
Second Best
Flex RnD
$400.8K
$350.7K – $467.6K
NOI $28,057 @ 7.0% cap · market cap 2.24%
Theoretical Best
Office A
$853.6K
$746.9K – $995.9K
NOI $59,751 @ 7.0% cap · market cap 4.78%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
1,342
Businesses Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Demographics for 58501, ND
28,388
Population
13,445
Households
2.1
Avg Household Size
38
Median Age
35%
College-Educated
95%
High-School Grad
22.8 sq mi
ZIP Area
1,245
Density / Sq Mi
$69,796
Median Household Income
$45,237
Median Earnings
$938
Median Rent
$276,000
Median Home Value
Market
Vacancy Rate% for Industrial in Midwest region
Questions? Ask Rey
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- Bistro 1100 — 1103 E Front Ave, Bismarck, ND 58504
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Frequently Asked Questions
What type of property is this?
Flex space - Two-suite flex building includes a leased unit, office/shop space with spray booth, and 15 storage units.
Where is this flex space located?
The property is located at 1406 E Broadway Avenue Bismarck, ND.
What is the asking price?
The asking price for this property is $1,250,000.
What are key features of this property?
This property features: Two‑suite commercial/flex building with one suite currently leased for immediate rental income; Second suite includes office space, a spacious shop area, and a spray booth; Includes 15 storage units: 14 units approx. 12x22 plus 1 oversized unit
