Flex Space with Oversized
New
For Sale
$269,900
1429 Burlington Dr Unit 3, Bismarck, ND 58504
Efficient shop condominium with industrial utilities, radiant heat, built-in shelving, and convenient access to established commercial businesses.
Property Size1,800 SF
Price / SF$149.94
Days on Market4
Property Features for 1429 Burlington Dr Unit 3
General Information
Standard status
Active
Size
1,800 SF
Warehouse & Industrial
Clear Height
16 ft
Drive-In Doors
1
Three-Phase Power
Yes
Building Details
Year Built
2019
Listing Agency:
NORTHWEST REALTY GROUP
Listed By:
JIM CHRISTIANSON
(701) 220-4888
Source:
Corerealestateadvisors
Added: Sep 9
Changed: Sep 10
Last Checked: Sep 11 at 3:39PM
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.
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 = 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
$14,079
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
5.22%
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%
$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
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
$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 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%
$281,580
Cap Rate 7%
$201,129
Cap Rate 9%
$156,433
Alternative Uses
Best Use
Flex RnD
$201.1K
$176.0K – $234.7K
NOI $14,079 @ 7.0% cap · market cap 5.22%
Second Best
Warehouse
$127.1K
$111.2K – $148.3K
NOI $8,898 @ 7.0% cap · market cap 3.30%
Theoretical Best
Office A
$428.3K
$374.8K – $499.7K
NOI $29,984 @ 7.0% cap · market cap 11.11%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Unlock full access to Insights
Subscribe to Realmo Intelligence
Open Analytics
Current Use
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
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Industrial in Midwest region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Similar Off Market Nearby
- Key West Cafe Food Truck — carpet garage, bismarck, nd 58504
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 $269,900.
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
