Investment Shop Condo with
For Sale
Contact for pricing
Pending
2906 Morrison Ave, Bismarck, ND 58504
Built in 2019, this shop condo includes finished office space, a heated shop, and a 14' roll-up door.
Property Size4,000 SF
Days on Market241
Property Features for 2906 Morrison Ave
General Information
Standard status
Pending
Size
4,000 SF
Property subtype
INDUSTRIAL
Additional Details
Clear Height
16 ft
Amenities
break room
conference room
reception area
technical lab
open collaborative space
Cat 5 data cabling
Building Details
Year Built
2019
Tenancy
Single
Listing Agency:
Rise Property Brokers
(701) 222-0232
Listed By:
George Yineman · License ##7535
(701) 319-3000
Source:
Moodyscre
Added: Mar 5
Changed: Oct 25
Last Checked: Oct 30 at 3:34PM
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
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Investment Insights
Based on property information with market context.
This investment shop condo was built in 2019 and totals 4,000 SF, with approximately 2,980 SF of finished, conditioned office space and a 1,020 SF heated shop area. The office portion includes a break room with custom cabinetry, a full-size refrigerator, and a stainless steel sink, along with a conference room, two private offices, a reception area, a technical lab area, and an open collaborative space. There are two ADA-compliant restrooms, cat 5 data cabling throughout, commercial neutral carpet squares, and indirect LED lighting throughout.
The shop features a 14' roll-up door with opener and a floor drain, 16' ceiling height, and a walk-in door at the rear. The property also includes backyard parking and park-and-walk-in access off Morrison Avenue.
Located in South Bismarck behind Walmart and Sam’s Club, the space is currently occupied by a single tenant, Marco Technologies, with details available through the agent.
The shop features a 14' roll-up door with opener and a floor drain, 16' ceiling height, and a walk-in door at the rear. The property also includes backyard parking and park-and-walk-in access off Morrison Avenue.
Located in South Bismarck behind Walmart and Sam’s Club, the space is currently occupied by a single tenant, Marco Technologies, with details available through the agent.
Key Highlights
- Income‑generating investment shop condo with one tenant; built in 2019
- 4,000 SF total: 2,980 SF office (high‑end finished conditioned) plus 1,020 SF heated shop
- Shop features 14' roll‑up door with opener, floor drain, 16' ceiling height, and rear walk‑in door
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$51,952
Cap Rate
7.87%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,039,040
$1.0M
Cap Rate 7%
$742,171
$742.2K
Cap Rate 9%
$577,244
$577.2K
Market Conditions
NOI Build-Up for 4,000 SF
Gross rent
$80.6K $20.16/SF
− Vacancy
−$11.4K −$2.84/SF
EGI
$69.3K $17.32/SF
− OpEx
−$17.3K −$4.33/SF
NOI
$52.0K $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%
$1,039,040
Cap Rate 7%
$742,171
Cap Rate 9%
$577,244
Alternative Uses
Best Use
Office B
$742.2K
$649.4K – $865.9K
NOI $51,952 @ 7.0% cap · market cap 7.87%
Second Best
Flex RnD
$447.0K
$391.1K – $521.5K
NOI $31,287 @ 7.0% cap · market cap 4.74%
Theoretical Best
Office A
$951.9K
$832.9K – $1.11M
NOI $66,631 @ 7.0% cap · market cap 10.10%
Zoning and permitted uses should be independently verified with authorities.
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Current Use
Lease Details
16 ft
Clear height
Single-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
297
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
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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 - Built in 2019, this shop condo includes finished office space, a heated shop, and a 14' roll-up door.
Where is this flex space located?
The property is located at 2906 Morrison Ave Bismarck, ND.
What is the asking price?
The asking price for this property is $660,000.
What are key features of this property?
This property features: Income‑generating investment shop condo with one tenant; built in 2019; 4,000 SF total: 2,980 SF office (high‑end finished conditioned) plus 1,020 SF heated shop; Shop features 14' roll‑up door with opener, floor drain, 16' ceiling height, and rear walk‑in door
