Drive-Thru Restaurant Space
For Sale
Contact for pricing
1922 E Broadway Ave, Bismarck, ND
1,578 SF drive-thru restaurant space for lease.
Property Size1,578 SF
Lot Size0.43 Acres
Price / SF$345.37
Days on Market259
Property Features for 1922 E Broadway Ave
General Information
Standard status
Active
Size
1,578 SF
Lot size
0.43 Acres
Property subtype
RETAIL
Properties For Sale
at 1922 E Broadway Ave Contact us- Floor
- Bldg
- Size
- 1,578 SF
- Type
- RETAIL
- Lease Type
- NNN
- Availability
- AVAILABLE, Now
- Sublease
- No
1922 E Broadway Ave
- Lease Rate: $4,200 NNN
- Lease Space: 1,578 Total SF (958 SF Main Footprint, 260...
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Contact us
Listing Agency:
Rise Property Brokers
(701) 425-9427
Listed By:
Adam Geiger, CCIM · License #10233
Source:
Moodyscre
Added: Nov 25, 2025
Changed: Aug 8
Last Checked: Aug 8 at 12:24PM
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 1,578 square foot drive-thru property is available for lease. The space includes a 958 square foot main footprint, a 260 square foot storage/cooler area, and a 360 square foot basement. Remodeled in 1995, the property features ample parking, a walk-in cooler (10' x 8'), and a walk-in freezer (10' x 8'). It also includes a grease hood and condensation hood, along with two rooftop HVAC units. The property is equipped with three-compartment and handwashing sinks. A small dining area with tables and chairs is included, currently seating 31. The 12' x 30' basement contains a bathroom, grease trap, and reverse osmosis water purifier. Additional features include a fire suppression system, security system, two 250 amp electrical panels, and three 240v outlets in the kitchen. The property also has a restroom, exhaust fans, and makeup air units on the roof. A pylon sign, menu board, and drive-thru tech are included.
Key Highlights
- Drive‑Thru Property with Ample Parking
- Includes Grease Hood and Condensation Hood
- Walk‑In Cooler - 10' x 8'**
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
$20,399
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
3.74%
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%
$407,980
$408.0K
Cap Rate 7%
$291,414
$291.4K
Cap Rate 9%
$226,656
$226.7K
Market Conditions
NOI Build-Up for 1,578 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
$29.9K $18.96/SF
− Vacancy
−$778 −$0.49/SF
EGI
$29.1K $18.47/SF
− OpEx
−$8.7K −$5.54/SF
NOI
$20.4K $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%
$407,980
Cap Rate 7%
$291,414
Cap Rate 9%
$226,656
Alternative Uses
Best Use
Retail
$291.4K
$255.0K – $340.0K
NOI $20,399 @ 7.0% cap · market cap 3.74%
Second Best
Specialty Retail
$270.2K
$236.5K – $315.3K
NOI $18,916 @ 7.0% cap · market cap 3.47%
Theoretical Best
Office A
$375.5K
$328.6K – $438.1K
NOI $26,286 @ 7.0% cap · market cap 4.82%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
394
Businesses Nearby
Explore this area
Business Placement
Market
Vacancy Rate% for Retail in Midwest region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Drive through restaurant - 1,578 SF drive-thru restaurant space for lease.
Where is this drive through restaurant located?
The property is located at 1922 E Broadway Ave Bismarck, ND.
What is the asking price?
The asking price for this property is $545,000.
What are key features of this property?
This property features: Drive‑Thru Property with Ample Parking; Includes Grease Hood and Condensation Hood; Walk‑In Cooler - 10' x 8'**
