Versatile Building in Bismarck
233 W Broadway Ave, Bismarck, ND 58501
For Sale
$775,000
4,362 SF building suitable for office or retail use.
Property Size4,362 SF
Lot Size0.35 Acres
Price / SF$177.67
Days on Market229
Property Features for 233 W Broadway Ave
General Information
Standard status
Size
Lot size
Property subtype
Building Details
Building Size
Year Built
Listing Agency:
Rise Property Brokers, Inc
Listed By:
Jon Lee · License ND #11237
(701) 400-4445
Source:
Risepropertybrokers
Added: Mar 27
Changed: Oct 31
Last Checked: Nov 8 at 2:31AM
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
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Investment Insights
Based on property information with market context.
This 4,362 SF building, formerly the D'Joyce Photography Studio, provides a versatile space suitable for office or retail use. The property includes private offices, a conference room, and a spacious lobby, making it suitable for a variety of professional endeavors. Large glass storefront windows and a high-visibility location ensure maximum exposure. The building features a brick exterior and ample off-street parking. Located in the Bismarck area, the property has a walk score of 86. Built in 1974, the property is zoned DC. The lot size is 15,226 SF. The 2025 taxes are $5,414.17, with a specials balance of $6,315.93 and specials installments of $1,622.10.
Key Highlights
- High‑visibility location with large glass storefront windows ensures maximum exposure.
- Versatile 4,362 SF building suitable for office or retail use.
- Ample off‑street parking.
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$56,654
Cap Rate
7.31%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,133,080
$1.1M
Cap Rate 7%
$809,343
$809.3K
Cap Rate 9%
$629,489
$629.5K
Market Conditions
NOI Build-Up for 4,362 SF
Gross rent
$87.9K $20.16/SF
− Vacancy
−$12.4K −$2.84/SF
EGI
$75.5K $17.32/SF
− OpEx
−$18.9K −$4.33/SF
NOI
$56.7K $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 Rate 5%
$1,133,080
Cap Rate 7%
$809,343
Cap Rate 9%
$629,489
Alternative Uses
Best Use
Office B
$809.3K
$708.2K – $944.2K
NOI $56,654 @ 7.0% cap · market cap 7.31%
Second Best
Retail
$805.5K
$704.8K – $939.8K
NOI $56,387 @ 7.0% cap · market cap 7.28%
Theoretical Best
Office A
$1.04M
$908.3K – $1.21M
NOI $72,661 @ 7.0% cap · market cap 9.38%
Zoning and permitted uses should be independently verified with authorities.
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Current Use
Location Intelligence
Trade Area within ½ mile
1,435
Businesses Nearby
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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
$276,000
Median Home Value
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Average Price Trend$/SF for Office Units in Bismarck, ND
Properties on Market for Office Units in Bismarck
Vacancy Rate% for Office in Midwest region
Frequently Asked Questions
What type of property is this?
Office unit - 4,362 SF building suitable for office or retail use.
Where is this office unit located?
The property is located at 233 W Broadway Ave Bismarck, ND.
What is the asking price?
The asking price for this property is $775,000.
What are key features of this property?
This property features: High‑visibility location with large glass storefront windows ensures maximum exposure.; Versatile 4,362 SF building suitable for office or retail use.; Ample off‑street parking.
