Versatile Shop Condo with
For Sale
Contact for pricing
1416 Burlington Dr Unit F, Bismarck, ND 58504
1,800 SF shop condo with loft and fenced storage.
Property Size2,105 SF
Price / SF$189.55
Days on Market179
Property Features for 1416 Burlington Dr Unit F
General Information
Standard status
Active
Size
2,105 SF
Property subtype
Industrial, Mixed Use, Office, Retail, Self Storage
Building Details
Year Built
2024
Listing Agency:
Capital Real Estate Partners
(701) 223-3030
Listed By:
DESRI NEETHER · License #8844
Source:
Crexi
Added: Feb 26
Changed: Aug 14
Last Checked: Aug 14 at 7:24AM
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 1,800 sq ft shop condo offers versatile space, prime functionality, and outdoor storage. It includes a 293 sq ft second-story loft and 1,474 sq ft of secured outdoor fenced storage. The property is suitable for contractors, craftsmen, retailers, or entrepreneurs. In addition to garage doors, the shop condo features an exterior door to the inside through a dedicated front office entrance. An interior access door connects the office to the expansive main shop. Dual 14-ft garage doors (front and back) facilitate loading, unloading, and maneuvering. The space is climate-controlled with both heat and A/C, and a separate mechanical room. A half bath adds everyday practicality, while the loft above offers additional storage or workspace flexibility. Ample parking is available for visitors or work vehicles. This shop condo offers space, convenience, and professionalism for various business uses, including retail storefronts, warehousing products, and indoor golf.
Key Highlights
- 1,800 sq ft shop condo with 293 sq ft loft and 1,474 sq ft secured outdoor storage.
- Dual 14‑ft garage doors** (front and back) for easy loading and maneuvering.
- Dedicated front office entrance separate from shop area.
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
$16,465
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
4.13%
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%
$329,300
$329.3K
Cap Rate 7%
$235,214
$235.2K
Cap Rate 9%
$182,944
$182.9K
Market Conditions
NOI Build-Up for 2,105 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
$29.0K $13.80/SF
− Vacancy
−$3.7K −$1.77/SF
EGI
$25.3K $12.03/SF
− OpEx
−$8.9K −$4.21/SF
NOI
$16.5K $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%
$329,300
Cap Rate 7%
$235,214
Cap Rate 9%
$182,944
Alternative Uses
Best Use
Flex RnD
$235.2K
$205.8K – $274.4K
NOI $16,465 @ 7.0% cap · market cap 4.13%
Second Best
Industrial
$128.5K
$112.5K – $149.9K
NOI $8,996 @ 7.0% cap · market cap 2.25%
Theoretical Best
Office A
$500.9K
$438.3K – $584.4K
NOI $35,065 @ 7.0% cap · market cap 8.79%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
297
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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Frequently Asked Questions
What type of property is this?
Flex space - 1,800 SF shop condo with loft and fenced storage.
Where is this flex space located?
The property is located at 1416 Burlington Dr Unit F Bismarck, ND.
What is the asking price?
The asking price for this property is $399,000.
What are key features of this property?
This property features: 1,800 sq ft shop condo with **293 sq ft loft and 1,474 sq ft secured outdoor storage**.; Dual 14‑ft garage doors** (front and back) for easy loading and maneuvering.; Dedicated front office entrance separate from shop area.
