Upgraded Office-Wellness
For Sale
$485,000
216 14th, Bismarck, ND 58504
Move-in ready office and wellness complex with a new addition, extensive upgrades, and accessibility-focused improvements.
Property Size2,886 SF
Price / SF$168.05
Days on Market76
Property Features for 216 14th
General Information
Standard status
Active
Size
2,886 SF
Property subtype
Commercial
Additional Details
Business Included
Yes
Taxes and HOA fees
Annual Taxes
$4,065
Amenities
0.00
Building Details
Year Built
1927
Listing Agency:
CENTURY 21 Morrison Realty
Listed By:
WILL GARDNER
(701) 388-6171
Source:
Clearwaterproperties
Added: Jun 26
Changed: Sep 8
Last Checked: Sep 8 at 8:25AM
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 CENTURY 21 Morrison Realty
Investment Insights
Based on property information with market context.
This upgraded office and wellness facility includes the original building plus a brand new addition, designed for business-ready occupancy. The main floor offers three generously sized rooms, along with a utility room, an accessible bathroom, and a very large open kitchen/dining area with like-new appliances. The basement includes one large and one small room, providing additional flexible space. Improvements highlighted in the offering include new LP siding, roof, and gutters, as well as a new parking lot. Multiple accessibility features are incorporated throughout, including wider doorways and ramps. The property is described as move-in ready, with major systems and equipment noted as essentially new, including the electrical system and surveillance system.
The property is offered for sale at 216 14th Street N in Bismarck, ND. The building and improvements are presented with an option to operate as a health and wellness business, with automated access referenced as part of the package.
For tenants and operators seeking a professional space with built-in wellness-oriented functionality, the combination of accessible layout, dedicated kitchen/dining area, and newly upgraded building components can support a range of service-based office uses. The existing room configuration, along with the additional space in the basement, may be suited to organizations that need separate treatment, meeting, or administrative areas within a single facility.
The property is offered for sale at 216 14th Street N in Bismarck, ND. The building and improvements are presented with an option to operate as a health and wellness business, with automated access referenced as part of the package.
For tenants and operators seeking a professional space with built-in wellness-oriented functionality, the combination of accessible layout, dedicated kitchen/dining area, and newly upgraded building components can support a range of service-based office uses. The existing room configuration, along with the additional space in the basement, may be suited to organizations that need separate treatment, meeting, or administrative areas within a single facility.
Key Highlights
- Office and wellness complex is described as move‑in ready and business ready
- Brand new addition plus original building, with multiple accessibility features including wider doorways and ramps
- Main floor layout includes three generously sized rooms plus a large open kitchen/dining area with like‑new appliances
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
$37,484
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
7.73%
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%
$749,680
$749.7K
Cap Rate 7%
$535,486
$535.5K
Cap Rate 9%
$416,489
$416.5K
Market Conditions
NOI Build-Up for 2,886 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
$58.2K $20.16/SF
− Vacancy
−$8.2K −$2.84/SF
EGI
$50.0K $17.32/SF
− OpEx
−$12.5K −$4.33/SF
NOI
$37.5K $12.99/SF
Area
Burleigh County, ND
Vacancy
14.10%
Lease Rate
$20.16 /SF/Yr
Expense Ratio
25.00%
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%
$749,680
Cap Rate 7%
$535,486
Cap Rate 9%
$416,489
Alternative Uses
Best Use
Office B
$535.5K
$468.6K – $624.7K
NOI $37,484 @ 7.0% cap · market cap 7.73%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$686.8K
$600.9K – $801.2K
NOI $48,074 @ 7.0% cap · market cap 9.91%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Turnkey business
Opportunity
Location Intelligence
Trade Area within ½ mile
2,623
Businesses Nearby
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
Market
Vacancy Rate% for Office in Midwest region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Office building - Move-in ready office and wellness complex with a new addition, extensive upgrades, and accessibility-focused improvements.
Where is this office building located?
The property is located at 216 14th Bismarck, ND.
What is the asking price?
The asking price for this property is $485,000.
What are key features of this property?
This property features: Office and wellness complex is described as move‑in ready and business ready; Brand new addition plus original building, with multiple accessibility features including wider doorways and ramps; Main floor layout includes three generously sized rooms plus a large open kitchen/dining area with like‑new appliances
