Building Details

Building Size 2,357 SF

Year Built 1890

Listing Agency: Rise Property Brokers, Inc

Listed By: Jon Lee · License #ND #11237 Show Phone

Source: Risepropertybrokers

Added: Mar 27 Changed: Sep 4 Last Checked: Oct 4 at 8:25AM

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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, Inc

Investment Insights

Based on property information with market context.

This historic 2,357 SF building, constructed in 1890, is located in the thriving Downtown Bismarck area. Zoned DC, the property features an open floor plan and large display windows. It benefits from high-traffic visibility, with 10,240 vehicles per day on E Main Ave. The building includes a lobby/reception area, a private office, a conference room, and a common restroom. Off-street parking is available. The lot size is 3,250 SF. With excellent signage potential and a downtown Main Street location, this property presents a retail investment opportunity. The property's 2025 taxes are $2,945.97. The specials balance is $0.

Key Highlights

• Prime Downtown Bismarck location with high‑traffic visibility (10,240 vehicles per day)
• Zoned DC, offering flexible usage options
• Historic building (built in 1890) with 2,357 SF of space

Financial Insights

Estimated NOI and Cap Rate

NOI / Yr

$30,469

Cap Rate

7.62%

Suggested Prices Based on Cap Rates

Cap Rate 5%

$609,380 $609.4K

Cap Rate 7%

$435,271 $435.3K

Cap Rate 9%

$338,544 $338.5K

Market Conditions

NOI Build-Up for 2,357 SF

Gross rent

$44.7K $18.96/SF

− Vacancy

−$1.2K −$0.49/SF

EGI

$43.5K $18.47/SF

− OpEx

−$13.1K −$5.54/SF

NOI

$30.5K $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 Rate 5%

$609,380

Cap Rate 7%

$435,271

Cap Rate 9%

$338,544

Alternative Uses

Best Use

Retail

$435.3K

$380.9K – $507.8K (±1% cap)

NOI $30,469 @ 7.0% cap · market cap 7.62%

Second Best

—

—

no second resolved use

Theoretical Best

Office A

$560.9K

$490.8K – $654.4K (±1% cap)

NOI $39,262 @ 7.0% cap · market cap 9.82%

Zoning and permitted uses should be independently verified with authorities.

Property Analytics

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Current Use

Storefront properties

Suggested Use

Top Pick Big Box & Wholesale Store HVAC Service Storage Facility Auto Parts Store Building Supply Garden Center

Score = modeled unmet demand for each use within ~1 mi (higher = bigger opportunity). Zoning and permitted uses should be independently verified with local authorities.

Location Intelligence

Trade Area within ½ mile

3,271

Businesses Nearby

Balanced

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

8% 2020

7.3% 2021

6.5% 2022

6% 2023

5.7% 2024

6.3% 2025

Questions? Ask Rey

Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.

What type of property is this? Where is this storefront properties located? What is the asking price? Find similar properties What are key features of this property?

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Frequently Asked Questions

What type of property is this?

Storefront property - Historic 2,357 SF building in thriving downtown Bismarck.

Where is this storefront property located?

The property is located at 204 E Main Ave Bismarck, ND.

What is the asking price?

The asking price for this property is $400,000.

What are key features of this property?

This property features: Prime Downtown Bismarck location with high‑traffic visibility (10,240 vehicles per day); Zoned DC, offering flexible usage options; Historic building (built in 1890) with 2,357 SF of space