Downtown Retail Storefront
For Sale
Contact for pricing
204 E Main Ave, Bismarck, ND 58501
Storefront retail space with large display windows, an open floor plan, private office, and off-street parking.
Property Size2,357 SF
Lot Size0.07 Acres
Price / SF$169.71
Days on Market166
Property Features for 204 E Main Ave
General Information
Standard status
Active
Size
2,357 SF
Lot size
0.07 Acres
Property subtype
RETAIL
Zoning
DC - Core Zoning District
Additional Details
Traffic Count
10,240 vehicles/day
Amenities
lobby/reception area
1 private office
1 conference room
common restroom
trench floor drain
large display windows
open floor plan
off-street parking
high visibility
excellent signage opportunity
Building Details
Year Built
1890
Listing Agency:
Rise Property Brokers
(701) 400-4445
Listed By:
Jon Lee · License #11237
(701) 400-4445
Source:
Moodyscre
Added: Feb 27
Changed: Aug 12
Last Checked: Aug 12 at 8:51AM
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 downtown storefront property offers a flexible interior layout with an open floor plan and a lobby/reception area. The space includes one private office, one conference room, and a common restroom with three sinks. Large display windows provide front-facing visibility, supported by a trench floor drain and an off-street parking arrangement.
Located on E Main Ave in a DC - Core Zoning District, the property benefits from high traffic with 10,240 vehicles per day. The Walk Score is 85, indicating a very walkable setting where many errands can be completed on foot.
With its 1890 build year and core downtown positioning, this configuration is suited to users seeking a street-facing retail presence alongside dedicated meeting and office space.
Located on E Main Ave in a DC - Core Zoning District, the property benefits from high traffic with 10,240 vehicles per day. The Walk Score is 85, indicating a very walkable setting where many errands can be completed on foot.
With its 1890 build year and core downtown positioning, this configuration is suited to users seeking a street-facing retail presence alongside dedicated meeting and office space.
Key Highlights
- 2,357 SF storefront/retail space with large display windows and an open floor plan
- Downtown Main Street location with large frontage windows, lobby/reception area, and 1 private office
- Includes 1 conference room, common restroom, and 3 sinks plus a trench floor drain
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
$30,469
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
7.62%
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%
$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
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
$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 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%
$609,380
Cap Rate 7%
$435,271
Cap Rate 9%
$338,544
Alternative Uses
Best Use
Retail
$435.3K
$380.9K – $507.8K
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
NOI $39,262 @ 7.0% cap · market cap 9.82%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
10,240 VPD
Traffic count
Location Intelligence
Trade Area within ½ mile
644
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.
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Frequently Asked Questions
What type of property is this?
Storefront property - Storefront retail space with large display windows, an open floor plan, private office, and off-street parking.
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: 2,357 SF storefront/retail space with large display windows and an open floor plan; Downtown Main Street location with large frontage windows, lobby/reception area, and 1 private office; Includes 1 conference room, common restroom, and 3 sinks plus a trench floor drain
