Shop Condo with High-Door
16-1409 Lockheed Dr Bismarck, ND
16-1409 Lockheed Dr, Bismarck, ND, 00000
$350,000
Pending
For Sale
$350,000
Pending
Move-in ready two-level shop condo with heat and AC, loft, 14x14 door, and light-industrial zoning.
Property Size2,000 SF
Days on Market134
Property Features for 16-1409 Lockheed Dr
General Information
- Standard status
- Pending
- Size
- 2,000 SF
Listing agency
Black Star Realty
(406) 696-7134
Listed by
Gene Seydel · License #10725
(406) 696-7134
Source
Exprealty
Added: Mar 11 Updated: Jul 22 at 1:20PM Checked: Jul 22 at 1:20PM
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 Black Star Realty
Investment Insights
Based on property information with market context.
Finished, move-in ready shop condo featuring two levels and built-in climate control with heat and AC. The space includes an on-demand hot water system, a tile shower, a floor drain, LED lighting, and keyless entry with a video doorbell. A large 14x14 overhead door with a remote opener and approximately 16-foot ceiling height supports flexible loading and storage, along with higher clearances in select areas. Additional improvements include ceramic tile in the bathroom, carpet upstairs, polycuramine-finished concrete floors, laundry, welder power, and an EV fast charger (stage 2). The setup is designed for practical use, with provisions such as power near a closet area for air-compressor equipment, and it does not include a bedroom.
The property is zoned light industrial and accommodates vehicles such as a semi truck, camper, and boats. HOA-managed services cover exterior maintenance, snow removal, dumpsters, outside security system, and water/sewer, and the complex operates with a private drive. Easy access to the Expressway supports convenient ingress and egress, and mail delivery is available via USPS lockers. Rent is allowed, and current renters use the space seasonally for watercraft storage.
The property is zoned light industrial and accommodates vehicles such as a semi truck, camper, and boats. HOA-managed services cover exterior maintenance, snow removal, dumpsters, outside security system, and water/sewer, and the complex operates with a private drive. Easy access to the Expressway supports convenient ingress and egress, and mail delivery is available via USPS lockers. Rent is allowed, and current renters use the space seasonally for watercraft storage.
Key Highlights
- Move‑in ready 2‑level shop condo with heat and AC, plus loft space
- Approx. 2000 SF (32x40) with high ceilings including a 20x30 ceiling area
- 14x14 roll‑up door with remote opener; ceiling height around 16 ft
Local Financial Insights For Flex RnD
Simulate Cap Rate and NOI
NOI Build-Up
- 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.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $27.6k | $13.80 |
| − Vacancy | −$3.5k | −$1.77 |
| EGI | $24.1k | $12.03 |
| − OpEx | −$8.4k | −$4.21 |
| NOI | $15.6k | $7.82 |
2,000 SF · lease $13.80/SF/yr · vacancy 12.80% · expense 35.00%
Alternative Uses
Best Use
Flex RnD
$223.5K
$195.6K – $260.7K
NOI $15,644 @ 7.0% cap · market cap 4.47%
Second Best
Warehouse
$141.2K
$123.6K – $164.8K
NOI $9,887 @ 7.0% cap · market cap 2.82%
Theoretical Best
Office A
$475.9K
$416.4K – $555.3K
NOI $33,315 @ 7.0% cap · market cap 9.52%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Location Intelligence
Current Use by Public Records
Flex space
Similar For Sale Nearby
FAQs
What type of property is this?
Flex space - Move-in ready two-level shop condo with heat and AC, loft, 14x14 door, and light-industrial zoning.
Where is this flex space located?
The property is located at 16-1409 Lockheed Dr Bismarck, ND.
What is the asking price?
The asking price for this property is $350,000.
What are key features of this property?
This property features: Move‑in ready 2‑level shop condo with heat and AC, plus loft space; Approx. 2000 SF (32x40) with high ceilings including a 20x30 ceiling area; 14x14 roll‑up door with remote opener; ceiling height around 16 ft
