Functional Flex Space with Modern
For Sale
$1,000,000
1414 Industrial Dr Ste B, Bismarck, ND 58501
9,920 SF property with shop and office space.
Property Size9,920 SF
Price / SF$100.81
Days on Market167
Property Features for 1414 Industrial Dr Ste B
General Information
Standard status
Active
Size
9,920 SF
Property subtype
Office
Building Details
Building Size
9,920 SF
Year Built
2010
Listing Agency:
Rise Property Brokers
(701) 425-9427
Listed By:
Adam Geiger, CCIM · License #ND #10233
Source:
Risepropertybrokers
Added: Mar 6
Changed: Aug 14
Last Checked: Aug 20 at 5:52AM
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 Rise Property Brokers
Investment Insights
Based on property information with market context.
This 9,920 square foot property includes a 6,560 SF shop area and 3,360 SF of office space. The office area is divided into 2,000 SF on the main floor and 1,360 SF on the second level. The property features a lobby with a built-in reception desk, seven private offices, and a break area with a kitchenette. There are three restrooms, one of which includes a shower, as well as file and storage rooms. The building includes 14' overhead doors in the front and 8' doors in the back. Radiant heat, floor drains, and a storage mezzanine are also present. The building has 16' sidewalls and was built in 2010. A new furnace and security system are installed. The property is located less than a mile from I-94 with easy access to the Bismarck Expressway. The HOA is $4,708 annually and covers snow removal, lawn care, water, and exterior insurance. The 2025 taxes are $13,385.48, with a specials balance of $470.50 and specials installments of $380.51. Electricity costs range from $300 to $500 per month.
Key Highlights
- Large 6,560 SF shop area and 3,360 SF office space.
- Convenient location with easy access to I‑94 and Bismarck Expressway.
- Modern amenities including a lobby with reception desk, private offices, and break area with kitchenette.
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
$77,593
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
7.76%
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%
$1,551,860
$1.6M
Cap Rate 7%
$1,108,471
$1.1M
Cap Rate 9%
$862,144
$862.1K
Market Conditions
NOI Build-Up for 9,920 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
$136.9K $13.80/SF
− Vacancy
−$17.5K −$1.77/SF
EGI
$119.4K $12.03/SF
− OpEx
−$41.8K −$4.21/SF
NOI
$77.6K $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%
$1,551,860
Cap Rate 7%
$1,108,471
Cap Rate 9%
$862,144
Alternative Uses
Best Use
Flex RnD
$1.11M
$969.9K – $1.29M
NOI $77,593 @ 7.0% cap · market cap 7.76%
Second Best
Industrial
$605.6K
$529.9K – $706.6K
NOI $42,393 @ 7.0% cap · market cap 4.24%
Theoretical Best
Office A
$2.36M
$2.07M – $2.75M
NOI $165,245 @ 7.0% cap · market cap 16.52%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
191
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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Frequently Asked Questions
What type of property is this?
Flex space - 9,920 SF property with shop and office space.
Where is this flex space located?
The property is located at 1414 Industrial Dr Ste B Bismarck, ND.
What is the asking price?
The asking price for this property is $1,000,000.
What are key features of this property?
This property features: Large 6,560 SF shop area and 3,360 SF office space.; Convenient location with easy access to I‑94 and Bismarck Expressway.; Modern amenities including a lobby with reception desk, private offices, and break area with kitchenette.
