Industrial Warehouse with Office
New
For Sale
$3,500,000
2410 & 2422 E Bowen Ave, Bismarck, ND 58504
Light-industrial facility combines warehouse operations with private offices, meeting space, employee areas, and multiple overhead doors.
Property Size65,999 SF
Lot Size4.26 Acres
Price / SF$53.03
Days on Market2
Property Features for 2410 & 2422 E Bowen Ave
General Information
Standard status
Active
Size
65,999 SF
Lot size
4.26 Acres
Property subtype
Industrial
Zoning
MA - Light Industrial
Warehouse & Industrial
Warehouse Space
65,999 SF
Sprinkler System
Yes
Additional Details
Asking Price
$3,500,000
Amenities
10 private offices
open work area
conference room
kitchenette
men's and women's restrooms
warehouse restroom
2 warehouse offices
warehouse breakroom
Building Details
Building Size
65,999 SF
Buildings
1
Listing Agency:
Rise Property Brokers, Inc
(701) 425-9427
Listed By:
Adam Geiger, CCIM · License #ND #10233
Source:
Risepropertybrokers
Added: Aug 13
Changed: Aug 14
Last Checked: Aug 14 at 6:36AM
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.
The property comprises a 65,999-square-foot warehouse and distribution facility on 4.26 acres. Interior improvements include 10 private offices, an open work area, conference room, kitchenette, men’s and women’s restrooms, two warehouse offices, a warehouse restroom, and a breakroom. Material-handling access includes 21 overhead doors measuring 8 feet by 10 feet, four overhead doors measuring 8 feet by 8 feet, and two additional overhead doors at the rear. Building systems include radiant and fan-forced natural gas heat and a sprinkler system.
The facility is zoned MA—Light Industrial and is located in Bismarck near Main Avenue and 26th Street. The 65,999 square feet is divided among 15,999 square feet leased to Conlin’s Furniture, 28,000 square feet leased to Metronet, and 22,000 square feet currently available.
The facility is zoned MA—Light Industrial and is located in Bismarck near Main Avenue and 26th Street. The 65,999 square feet is divided among 15,999 square feet leased to Conlin’s Furniture, 28,000 square feet leased to Metronet, and 22,000 square feet currently available.
Key Highlights
- 65,999 SF warehouse and distribution building on a 4.26‑acre lot
- MA - Light Industrial zoning
- 10 private offices, open work area, conference room, kitchenette, and multiple restrooms
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
$282,047
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
8.06%
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%
$5,640,940
$5.6M
Cap Rate 7%
$4,029,243
$4.0M
Cap Rate 9%
$3,133,856
$3.1M
Market Conditions
NOI Build-Up for 65,999 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
$435.6K $6.60/SF
− Vacancy
−$32.7K −$0.50/SF
EGI
$402.9K $6.10/SF
− OpEx
−$120.9K −$1.83/SF
NOI
$282.0K $4.27/SF
Area
Burleigh County, ND
Vacancy
7.50%
Lease Rate
$6.60 /SF/Yr
Expense Ratio
30.00%
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%
$5,640,940
Cap Rate 7%
$4,029,243
Cap Rate 9%
$3,133,856
Alternative Uses
Best Use
Warehouse
$4.66M
$4.08M – $5.44M
NOI $326,255 @ 7.0% cap · market cap 9.32%
Second Best
Industrial
$4.03M
$3.53M – $4.70M
NOI $282,047 @ 7.0% cap · market cap 8.06%
Theoretical Best
Office A
$15.71M
$13.74M – $18.32M
NOI $1,099,393 @ 7.0% cap · market cap 31.41%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Yes
Sprinkler system
Location Intelligence
Trade Area within ½ mile
724
Businesses Nearby
Well-served
Demand for This Use
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 Industrial in Midwest region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
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Frequently Asked Questions
What type of property is this?
Warehouse - Light-industrial facility combines warehouse operations with private offices, meeting space, employee areas, and multiple overhead doors.
Where is this warehouse located?
The property is located at 2410 & 2422 E Bowen Ave Bismarck, ND.
What is the asking price?
The asking price for this property is $3,500,000.
What are key features of this property?
This property features: 65,999 SF warehouse and distribution building on a 4.26‑acre lot; MA - Light Industrial zoning; 10 private offices, open work area, conference room, kitchenette, and multiple restrooms
