Flex Office with
For Sale
$995,000
2302 East Divide Avenue, Bismarck, ND 58501
Flex property includes private offices, a conference room, and a 1,800 SF garage with freight access and trench drain.
Property Size8,496 SF
Lot Size0.99 Acres
Price / SF$234.23
Days on Market122
Property Features for 2302 East Divide Avenue
General Information
Standard status
Active
Size
8,496 SF
Lot size
0.99 Acres
Property subtype
Office
Additional Details
Traffic Count
14,520 vehicles/day
Clear Height
8 ft
Amenities
conference room
kitchen/breakroom
Building Details
Building Size
8,496 SF
Year Built
1971
Listing Agency:
Rise Property Brokers, Inc
Listed By:
Jon Lee · License #ND #11237
(701) 400-4445
Source:
Risepropertybrokers
Added: May 8
Changed: Sep 2
Last Checked: Sep 5 at 7:13AM
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 flex property provides private office space plus a conference room, along with a spacious kitchen/breakroom. Interior features include large windows and approximately 8' ceiling height, and there is a trench floor drain designed to support heavier day-to-day operations. Freight access is in place, and the property also offers a 1,800 SF garage for practical work or storage needs.
Located on E Divide Ave with high-volume traffic exposure of 14,520 vehicles per day, the property includes delivery parking and pylon signage to support visibility and customer access.
The building was built in 1971 and totals about 4,243 SF, with a 42,982 SF lot. The offering is for sale.
Located on E Divide Ave with high-volume traffic exposure of 14,520 vehicles per day, the property includes delivery parking and pylon signage to support visibility and customer access.
The building was built in 1971 and totals about 4,243 SF, with a 42,982 SF lot. The offering is for sale.
Key Highlights
- 4,243 SF flex building with private offices, a conference room, and a spacious kitchen/breakroom
- 1,800 SF garage on‑site with freight access and a trench floor drain
- Large windows and 8' ceiling height
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
$55,173
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
5.55%
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%
$1,103,460
$1.1M
Cap Rate 7%
$788,186
$788.2K
Cap Rate 9%
$613,033
$613.0K
Market Conditions
NOI Build-Up for 4,248 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
$85.6K $20.16/SF
− Vacancy
−$12.1K −$2.84/SF
EGI
$73.6K $17.32/SF
− OpEx
−$18.4K −$4.33/SF
NOI
$55.2K $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%
$1,103,460
Cap Rate 7%
$788,186
Cap Rate 9%
$613,033
Alternative Uses
Best Use
Office B
$788.2K
$689.7K – $919.6K
NOI $55,173 @ 7.0% cap · market cap 5.55%
Second Best
Flex RnD
$474.7K
$415.3K – $553.8K
NOI $33,227 @ 7.0% cap · market cap 3.34%
Theoretical Best
Office A
$1.01M
$884.5K – $1.18M
NOI $70,762 @ 7.0% cap · market cap 7.11%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
8 ft
Clear height
14,520 VPD
Traffic count
Location Intelligence
Trade Area within ½ mile
232
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 Office in Midwest region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Flex space - Flex property includes private offices, a conference room, and a 1,800 SF garage with freight access and trench drain.
Where is this flex space located?
The property is located at 2302 East Divide Avenue Bismarck, ND.
What is the asking price?
The asking price for this property is $995,000.
What are key features of this property?
This property features: 4,243 SF flex building with private offices, a conference room, and a spacious kitchen/breakroom; 1,800 SF garage on‑site with freight access and a trench floor drain; Large windows and 8' ceiling height
