Mixed-Use Building with
For Sale
Contact for pricing
208 E Main Ave, Bismarck, ND 58501
Six apartments accompany a large commercial area with restrooms, sinks, delivery parking, and heated, insulated construction.
Property Size8,000 SF
Lot Size0.15 Acres
Price / SF$99.38
Days on Market178
Property Features for 208 E Main Ave
General Information
Standard status
Active
Size
8,000 SF
Lot size
0.15 Acres
Property subtype
RETAIL
Additional Details
Asking Price
$795,000
Road Access
Yes
Multifamily Units
6
Amenities
Private and Public Restrooms
Sinks
Delivery Parking
Heated / Insulated
Listing Agency:
Rise Property Brokers
(701) 400-4445
Listed By:
Jon Lee · License #11237
(701) 400-4445
Source:
Moodyscre
Added: Mar 5
Changed: Aug 30
Last Checked: Aug 30 at 5:05AM
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 8,000 SF mixed-use building combines six apartments with one large commercial space. The property includes private and public restrooms, sinks, delivery parking, and heated, insulated construction. Its configuration supports both residential and commercial occupancy within the same building.
Located at 208 E Main Ave in downtown Bismarck, the property sits on a 6,500 SF lot along E Main Ave, where traffic is reported at 10,240 vehicles per day. The surrounding area includes restaurants, banks, retail stores, and other downtown services. A Walk Score of 78 indicates that many daily errands can be completed on foot.
Located at 208 E Main Ave in downtown Bismarck, the property sits on a 6,500 SF lot along E Main Ave, where traffic is reported at 10,240 vehicles per day. The surrounding area includes restaurants, banks, retail stores, and other downtown services. A Walk Score of 78 indicates that many daily errands can be completed on foot.
Key Highlights
- 8,000 SF mixed‑use building with 6 apartments and 1 large commercial space
- 6,500 SF lot at 208 E Main Ave in downtown Bismarck
- E Main Ave traffic reported at 10,240 vehicles per day
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
$60,060
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
7.55%
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%
$1,201,200
$1.2M
Cap Rate 7%
$858,000
$858.0K
Cap Rate 9%
$667,333
$667.3K
Market Conditions
NOI Build-Up for 8,000 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
$105.6K $13.20/SF
− Vacancy
−$9.5K −$1.19/SF
EGI
$96.1K $12.01/SF
− OpEx
−$36.0K −$4.50/SF
NOI
$60.1K $7.51/SF
Area
Burleigh County, ND
Vacancy
9.00%
Lease Rate
$13.20 /SF/Yr
Expense Ratio
37.50%
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%
$1,201,200
Cap Rate 7%
$858,000
Cap Rate 9%
$667,333
Alternative Uses
Best Use
Retail
$1.48M
$1.29M – $1.72M
NOI $103,415 @ 7.0% cap · market cap 13.01%
Second Best
Mixed Use
$858.0K
$750.8K – $1.00M
NOI $60,060 @ 7.0% cap · market cap 7.55%
Theoretical Best
Office A
$1.90M
$1.67M – $2.22M
NOI $133,262 @ 7.0% cap · market cap 16.76%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
6
Residential units
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
3,271
Businesses Nearby
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 Multifamily in Midwest region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Mixed-use property - Six apartments accompany a large commercial area with restrooms, sinks, delivery parking, and heated, insulated construction.
Where is this mixed-use property located?
The property is located at 208 E Main Ave Bismarck, ND.
What is the asking price?
The asking price for this property is $795,000.
What are key features of this property?
This property features: 8,000 SF mixed‑use building with 6 apartments and 1 large commercial space; 6,500 SF lot at 208 E Main Ave in downtown Bismarck; E Main Ave traffic reported at 10,240 vehicles per day
