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Condo Shop and Flex Warehouse Units

2-3232 Airway Ave Bismarck, ND 58504

2-3232 Airway Ave, Bismarck, ND, 58504
$301,500
For Sale
Claim this Listing
$301,500

Condo shop units with 14x14 overhead doors and secured outside storage options for flexible business use.

Property Size2,010 SF
Price / SF$150
AddedApr 30
Days on Market77
Last RefreshJul 15 at 2:35 pm

Property Features for 2-3232 Airway Ave

General Information

Standard status
Active
Size
2,010 SF

Listing office Oaktree Realty

Listing date Apr 30, 2026

Source Exprealty

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.

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

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 $27.7k $13.80
− Vacancy −$3.6k −$1.77
EGI $24.2k $12.03
− OpEx −$8.5k −$4.21
NOI $15.7k $7.82
2,010 SF · lease $13.80/SF/yr · vacancy 12.80% · expense 35.00%

Alternative Uses

Best Use
Flex RnD
$224.6K
$196.5K – $262.0K (±1% cap)
NOI $15,722 @ 7.0% cap · market cap 5.21%
Second Best
Warehouse
$141.9K
$124.2K – $165.6K (±1% cap)
NOI $9,936 @ 7.0% cap · market cap 3.30%
Theoretical Best
Office A
$478.3K
$418.5K – $558.0K (±1% cap)
NOI $33,482 @ 7.0% cap · market cap 11.11%
Zoning and permitted uses should be independently verified with local authorities.

Property Analytics

Property Profile Location Intelligence

Current Use by Public Records

Flex space

Suggested Use

Law Firm Dental Office (Bike/Boat/Book/etc) Store Barber Shop Pharmacy (Bike/Boat/Book/etc) Store Catering Service Bakery Butcher Garden Center

Zoning and permitted uses should be independently verified with local authorities.

Similar Off Market Nearby

  • Key West Cafe Food Truck — carpet garage, bismarck, nd 58504

FAQs

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
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