Flex Property with Cold
For Sale
$849,900
2521 Railroad Ave, Bismarck, ND 58501
Heated shop, office space, and rentable cold storage units support both business operations and supplemental income.
Property Size8,984 SF
Lot Size0.71 Acres
Price / SF$94.60
Days on Market82
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Property Features for 2521 Railroad Ave
General Information
Standard status
Active
Size
8,984 SF
Lot size
0.71 Acres
Warehouse & Industrial
Warehouse Space
4,080 SF
Office Build-Out
1,278 SF
Cold Storage
Yes
Self-Storage Units
15
Amenities
overhead doors
12' wall height
cold storage units
Building Details
Year Built
1962
Listing Agency:
CENTURY 21 Morrison Realty
Listed By:
JASON L BECKER · License #9487
(701) 400-9930
Source:
Corerealestateadvisors
Added: Jul 26
Changed: Oct 5
Last Checked: Oct 7 at 3:15PM
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 CENTURY 21 Morrison Realty
Investment Insights
Based on property information with market context.
Located at 2521 Railroad Avenue in Bismarck, North Dakota, this flex property combines 4,080 SF of heated shop area with 1,278 SF of office space and 400 SF of basement storage. The shop includes a 12' x 14' overhead door, a 10' x 10' overhead door, and 12' wall height.
The property sits on a 30,757 SF lot with a concrete parking area providing off-street parking and vehicle maneuverability. Fifteen cold storage units add a separate rental component: fourteen measure 10' x 22', while one measures 12' x 25'. The mix of functional shop, office, storage, and parking areas provides a practical configuration for an owner-user seeking additional storage income.
The property sits on a 30,757 SF lot with a concrete parking area providing off-street parking and vehicle maneuverability. Fifteen cold storage units add a separate rental component: fourteen measure 10' x 22', while one measures 12' x 25'. The mix of functional shop, office, storage, and parking areas provides a practical configuration for an owner-user seeking additional storage income.
Key Highlights
- 4,080 SF of heated shop space
- 1,278 SF of office space plus 400 SF basement storage
- 15 cold storage units: fourteen 10' x 22' and one 12' x 25'
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$70,271
Cap Rate
8.27%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,405,420
$1.4M
Cap Rate 7%
$1,003,871
$1.0M
Cap Rate 9%
$780,789
$780.8K
Market Conditions
NOI Build-Up for 8,984 SF
Gross rent
$124.0K $13.80/SF
− Vacancy
−$15.9K −$1.77/SF
EGI
$108.1K $12.03/SF
− OpEx
−$37.8K −$4.21/SF
NOI
$70.3K $7.82/SF
Area
Burleigh County, ND
Vacancy
12.80%
Lease Rate
$13.80 /SF/Yr
Expense Ratio
35.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,405,420
Cap Rate 7%
$1,003,871
Cap Rate 9%
$780,789
Alternative Uses
Best Use
Office B
$1.67M
$1.46M – $1.94M
NOI $116,685 @ 7.0% cap · market cap 13.73%
Second Best
Flex RnD
$1.00M
$878.4K – $1.17M
NOI $70,271 @ 7.0% cap · market cap 8.27%
Theoretical Best
Office A
$2.14M
$1.87M – $2.49M
NOI $149,653 @ 7.0% cap · market cap 17.61%
Zoning and permitted uses should be independently verified with authorities.
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Current Use
Location Intelligence
Trade Area within ½ mile
644
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
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Office in Midwest region
Similar Off Market Nearby
- Key West Cafe Food Truck — carpet garage, bismarck, nd 58504
Frequently Asked Questions
What type of property is this?
Flex space - Heated shop, office space, and rentable cold storage units support both business operations and supplemental income.
Where is this flex space located?
The property is located at 2521 Railroad Ave Bismarck, ND.
What is the asking price?
The asking price for this property is $849,900.
What are key features of this property?
This property features: 4,080 SF of heated shop space; 1,278 SF of office space plus 400 SF basement storage; 15 cold storage units: fourteen 10' x 22' and one 12' x 25'
