Steel-Frame Storefront Retail
For Sale
Contact for pricing
1606 E Main Ave, Bismarck, ND 58501
Open-format commercial building with mezzanine access, storage, restrooms, and an overhead loading door.
Property Size8,158 SF
Lot Size0.46 Acres
Price / SF$196.13
Days on Market191
Property Features for 1606 E Main Ave
General Information
Standard status
Active
Size
8,158 SF
Lot size
0.46 Acres
Property subtype
RETAIL
Amenities
men's and women's restroom with shower
10'x12' overhead door
mezzanine
storage closets
built-in front desk reception
Building Details
Buildings
1
Construction
steel-frame
Listing Agency:
Aspen Group
(701) 223-2450
Listed By:
Michael Ilse · License #8214
(701) 400-7808
Source:
Moodyscre
Added: Feb 24
Changed: Sep 2
Last Checked: Aug 30 at 7:02PM
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 Aspen Group
Investment Insights
Based on property information with market context.
This 8,158-square-foot steel-frame retail building occupies a 20,253-square-foot lot and provides an open interior arrangement for storefront or service-oriented operations. The building includes a built-in reception counter, multiple storage closets, men’s and women’s restrooms with a shower, and a mezzanine reached through two separate entrances. A 10’x12’ overhead door adds practical access for receiving and moving materials.
Positioned along Main Avenue, the property includes a large parking lot, visibility from the avenue, and available signage opportunities. The combination of open floor area, back-of-house storage, mezzanine space, and customer-facing reception infrastructure supports a range of retail and service configurations.
Positioned along Main Avenue, the property includes a large parking lot, visibility from the avenue, and available signage opportunities. The combination of open floor area, back-of-house storage, mezzanine space, and customer-facing reception infrastructure supports a range of retail and service configurations.
Key Highlights
- 8,158 SF steel‑frame retail building on a 20,253 SF lot
- 10’x12’ overhead door for receiving and material access
- Mezzanine with 2 separate entrances
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
$105,458
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
6.59%
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%
$2,109,160
$2.1M
Cap Rate 7%
$1,506,543
$1.5M
Cap Rate 9%
$1,171,756
$1.2M
Market Conditions
NOI Build-Up for 8,158 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
$154.7K $18.96/SF
− Vacancy
−$4.0K −$0.49/SF
EGI
$150.7K $18.47/SF
− OpEx
−$45.2K −$5.54/SF
NOI
$105.5K $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%
$2,109,160
Cap Rate 7%
$1,506,543
Cap Rate 9%
$1,171,756
Alternative Uses
Best Use
Retail
$1.51M
$1.32M – $1.76M
NOI $105,458 @ 7.0% cap · market cap 6.59%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.94M
$1.70M – $2.26M
NOI $135,894 @ 7.0% cap · market cap 8.49%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
951
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 Retail in Midwest region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Storefront property - Open-format commercial building with mezzanine access, storage, restrooms, and an overhead loading door.
Where is this storefront property located?
The property is located at 1606 E Main Ave Bismarck, ND.
What is the asking price?
The asking price for this property is $1,600,000.
What are key features of this property?
This property features: 8,158 SF steel‑frame retail building on a 20,253 SF lot; 10’x12’ overhead door for receiving and material access; Mezzanine with 2 separate entrances
