Condo Shop and Flex Warehouse
For Sale
$301,500
2-3232 Airway Ave, Bismarck, ND 58504
Condo shop units with 14x14 overhead doors and secured outside storage options for flexible business use.
Property Size2,010 SF
Price / SF$150
Days on Market169
Property Features for 2-3232 Airway Ave
General Information
Standard status
Active
Size
2,010 SF
Taxes and HOA fees
Annual Taxes
$561
Listing Agency:
Oaktree Realty
(701) 223-7422
Listed By:
DARREN SCHMIDT · License #7897
(701) 226-5942
Source:
Exprealty
Added: Apr 30
Changed: Oct 8
Last Checked: Oct 15 at 1:50AM
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 Oaktree Realty
Investment Insights
Based on property information with market context.
The Airway Project Shop Condominiums offer individual condo shop units designed for business and personal use, with optional individually secured outside fenced storage areas. Each unit includes a 14x14 front overhead door with opener and WiFi connection capabilities, 16-foot sidewalls, energy-efficient radiant heat, hot and cold water, a trench floor drain, and 220A/220V three-phase electrical power. A front office with a window is included, along with an installed PTAC heat and A/C unit for temperature control. The bathroom features a toilet and sink and a 50-gallon water heater, with options for adding a shower and laundry area. Units also include front and rear service doors to support ongoing operations, and there is signage space plus lighted exterior areas. An open interior span option allows units to be combined.
Located in south Bismarck, the development provides easy access to the Bismarck Expressway and I-94. The project includes 137 total parking spaces for the development.
For tenants or buyers looking for a self-contained shop setup, the combination of overhead access, power, radiant heat, and on-site office and bathroom facilities supports a range of legal business operations. The association provides snow removal, water, sewer, exterior maintenance, and exterior insurance, while unit-level covenants and monthly association fees apply. Units are expected to be ready for occupancy in Summer 2026.
Located in south Bismarck, the development provides easy access to the Bismarck Expressway and I-94. The project includes 137 total parking spaces for the development.
For tenants or buyers looking for a self-contained shop setup, the combination of overhead access, power, radiant heat, and on-site office and bathroom facilities supports a range of legal business operations. The association provides snow removal, water, sewer, exterior maintenance, and exterior insurance, while unit-level covenants and monthly association fees apply. Units are expected to be ready for occupancy in Summer 2026.
Key Highlights
- South Bismarck condo shop units (2,010–2,040 SF) for business or personal use; available for sale or lease
- 14x14 front overhead door with opener and WIFI capabilities, plus 16‑foot sidewalls
- Utilities and power: radiant heat, hot & cold water, trench floor drain, and 220A/220V 3‑phase electrical power
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$15,722
Cap Rate
5.21%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$314,440
$314.4K
Cap Rate 7%
$224,600
$224.6K
Cap Rate 9%
$174,689
$174.7K
Market Conditions
NOI Build-Up for 2,010 SF
Gross rent
$27.7K $13.80/SF
− Vacancy
−$3.6K −$1.77/SF
EGI
$24.2K $12.03/SF
− OpEx
−$8.5K −$4.21/SF
NOI
$15.7K $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 Rate 5%
$314,440
Cap Rate 7%
$224,600
Cap Rate 9%
$174,689
Alternative Uses
Best Use
Flex RnD
$224.6K
$196.5K – $262.0K
NOI $15,722 @ 7.0% cap · market cap 5.21%
Second Best
Warehouse
$141.9K
$124.2K – $165.6K
NOI $9,936 @ 7.0% cap · market cap 3.30%
Theoretical Best
Office A
$478.3K
$418.5K – $558.0K
NOI $33,482 @ 7.0% cap · market cap 11.11%
Zoning and permitted uses should be independently verified with authorities.
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Current Use
Location Intelligence
Trade Area within ½ mile
437
Businesses Nearby
Balanced
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
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Industrial in Midwest region
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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 - Condo shop units with 14x14 overhead doors and secured outside storage options for flexible business use.
Where is this flex space located?
The property is located at 2-3232 Airway Ave Bismarck, ND.
What is the asking price?
The asking price for this property is $301,500.
What are key features of this property?
This property features: South Bismarck condo shop units (2,010–2,040 SF) for business or personal use; available for sale or lease; 14x14 front overhead door with opener and WIFI capabilities, plus 16‑foot sidewalls; Utilities and power: radiant heat, hot & cold water, trench floor drain, and 220A/220V 3‑phase electrical power
