Four-Unit Apartment
218 N 12th St, Bismarck, ND 58501
For Sale
Contact for pricing
Multifamily property with a detached garage and HM - Health Medical zoning along North 12th Street.
Property Size3,248 SF
Lot Size0.17 Acres
Price / SF$107.76
Days on Market106
Property Features for 218 N 12th St
General Information
Standard status
Size
Lot size
Property subtype
Zoning
Additional Details
Road Access
Multifamily Units
Building Details
Buildings
Units
Tenancy
Listing Agency:
Aspen Group LLP
Listed By:
Charles Reichert, CCIM · License ND #11466
(701) 202-6935
Source:
Crexi
Added: Jul 30
Changed: Nov 2
Last Checked: Nov 12 at 4:34AM
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 Aspen Group LLP
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Investment Insights
Based on property information with market context.
This four-unit apartment property in Bismarck includes a 3,248-square-foot residential building and a separate 1,284-square-foot garage. The improvements sit on a 7,507-square-foot lot, providing a compact multifamily configuration with additional detached storage or parking-related space.
Located at 218 N 12th St, the property has visibility along North 12th Street within an established Bismarck neighborhood. The site is zoned HM - Health Medical, a designation that should be considered in evaluating the property’s current and future use parameters.
Located at 218 N 12th St, the property has visibility along North 12th Street within an established Bismarck neighborhood. The site is zoned HM - Health Medical, a designation that should be considered in evaluating the property’s current and future use parameters.
Key Highlights
- Four‑unit apartment building with 3,248 SF of residential space
- Detached 1,284 SF garage
- Situated on a 7,507 SF lot
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$21,472
Cap Rate
6.13%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$429,440
$429.4K
Cap Rate 7%
$306,743
$306.7K
Cap Rate 9%
$238,578
$238.6K
Market Conditions
NOI Build-Up for 3,248 SF
Gross rent
$33.1K $10.20/SF
− Vacancy
−$2.5K −$0.76/SF
EGI
$30.7K $9.44/SF
− OpEx
−$9.2K −$2.83/SF
NOI
$21.5K $6.61/SF
Area
Burleigh County, ND
Vacancy
7.41%
Lease Rate
$10.20 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$429,440
Cap Rate 7%
$306,743
Cap Rate 9%
$238,578
Alternative Uses
Best Use
Multifamily LT 5
$306.7K
$268.4K – $357.9K
NOI $21,472 @ 7.0% cap · market cap 6.13%
Second Best
Apartment 5plus
$265.4K
$232.2K – $309.7K
NOI $18,579 @ 7.0% cap · market cap 5.31%
Theoretical Best
Office A
$772.9K
$676.3K – $901.7K
NOI $54,104 @ 7.0% cap · market cap 15.46%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Who owns this building?
See the owner, sales and loan history
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Lease Details
4
Residential units
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
2,411
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
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Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Multifamily in Midwest region
Frequently Asked Questions
What type of property is this?
Quadplex - Multifamily property with a detached garage and HM - Health Medical zoning along North 12th Street.
Where is this quadplex located?
The property is located at 218 N 12th St Bismarck, ND.
What is the asking price?
The asking price for this property is $350,000.
What are key features of this property?
This property features: Four‑unit apartment building with 3,248 SF of residential space; Detached 1,284 SF garage; Situated on a 7,507 SF lot
