Office Building with
For Sale
$1,175,000
2302 East Divide Avenue, Bismarck, ND 58501
Standalone office building includes private offices, a conference room, and a large garage with freight access and delivery parking.
Property Size4,248 SF
Lot Size1.00 Acre
Price / SF$194.28
Days on Market75
Property Features for 2302 East Divide Avenue
General Information
Standard status
Active
Size
4,248 SF
Total Parking Spaces
38
Lot size
1.00 Acre
Property subtype
Office
Additional Details
Traffic Count
14,520 vehicles/day
Clear Height
8 ft
Amenities
private offices
conference room
kitchen/breakroom
large windows
trench floor drain
freight access
delivery parking
pylon signage
Building Details
Building Size
4,248 SF
Year Built
1971
Listing Agency:
Rise Property Brokers
(701) 400-4445
Listed By:
Jon Lee · License #ND #11237
Source:
Risepropertybrokers
Added: Jun 16
Changed: Aug 26
Last Checked: Aug 28 at 9:27AM
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 office building totals 4,248 SF and features private offices, a conference room, and a spacious kitchen/breakroom. The interior includes large windows and an 8' ceiling height, along with a trench floor drain to support more functional day-to-day operations. The property also includes a 1,800 SF garage, and is served by freight access with designated delivery parking.
Located at 2302 E Divide Ave in Bismarck, ND, the building benefits from pylon signage and a high-traffic corridor, with 14,520 vehicles per day reported on E Divide Ave. The property provides 38 parking spaces, supporting tenant and visitor parking needs.
Built in 1971, this offering includes the main office space, the attached/associated garage area, and the site’s parking and access features designed for both client visits and deliveries.
Located at 2302 E Divide Ave in Bismarck, ND, the building benefits from pylon signage and a high-traffic corridor, with 14,520 vehicles per day reported on E Divide Ave. The property provides 38 parking spaces, supporting tenant and visitor parking needs.
Built in 1971, this offering includes the main office space, the attached/associated garage area, and the site’s parking and access features designed for both client visits and deliveries.
Key Highlights
- 4,248 SF office building plus 1,800 SF garage on a 1‑acre, 42,982 SF lot
- Private offices, conference room, and kitchen/breakroom with large windows and 8' ceiling height
- Freight access with trench floor drain for supporting heavier operational needs
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
$78,552
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
6.69%
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%
$1,571,040
$1.6M
Cap Rate 7%
$1,122,171
$1.1M
Cap Rate 9%
$872,800
$872.8K
Market Conditions
NOI Build-Up for 6,048 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
$121.9K $20.16/SF
− Vacancy
−$17.2K −$2.84/SF
EGI
$104.7K $17.32/SF
− OpEx
−$26.2K −$4.33/SF
NOI
$78.6K $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%
$1,571,040
Cap Rate 7%
$1,122,171
Cap Rate 9%
$872,800
Alternative Uses
Best Use
Office B
$1.12M
$981.9K – $1.31M
NOI $78,552 @ 7.0% cap · market cap 6.69%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.44M
$1.26M – $1.68M
NOI $100,746 @ 7.0% cap · market cap 8.57%
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
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?
Office building - Standalone office building includes private offices, a conference room, and a large garage with freight access and delivery parking.
Where is this office building located?
The property is located at 2302 East Divide Avenue Bismarck, ND.
What is the asking price?
The asking price for this property is $1,175,000.
What are key features of this property?
This property features: 4,248 SF office building plus 1,800 SF garage on a 1‑acre, 42,982 SF lot; Private offices, conference room, and kitchen/breakroom with large windows and 8' ceiling height; Freight access with trench floor drain for supporting heavier operational needs
