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    Bismarck Industrial Property with Tenant Title is generated by Realmo AI

    2906 Morrison Ave Unit 1, Bismarck, ND 58504

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    For Sale
    $660,000

    4,000 SF industrial property with high-end office and shop space.

    Type:Investment Shop Condo
    Property size:
    4,000 SF
    Price / SF:
    $165/SF
    Added:
    Mar 6, 2026
    Days on Market:
    72
    Last Refresh:
    Apr 5 at 11:49 pm

    Property Features for 2906 Morrison Ave Unit 1

    General Information

    Standard status
    Active
    Size
    4,000 SF
    Property subtype
    Investment Shop Condo

    Building Details

    Year Built
    2017

    We can help!

    Listing Contact
    George Yineman
    George Yineman

    Listing agent George Yineman License #ND #7535

    Listing office Rise Property Brokers

    Listing date Mar 6, 2026

    Source Risepropertybrokers

    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

    HighLights

    • 100% Occupancy Rate: Provides immediate and reliable income.
    • High‑End Finished Office Space (2,980 SF): Includes a technical lab area, conference room and ADA‑compliant facilities.
    • Current Tenant: Leased to Marco Technologies, a stable and established tenant.
    • Heated Shop Area (1,020 SF): Features a 14' roll‑up door, 16' ceiling height, and backyard parking.
    • South Bismarck Location: Conveniently located behind Walmart and Sam's Club.
    • Built in 2019: Relatively new construction.

    Overview

    This 4,000 SF industrial property, built in 2019, is located in South Bismarck, behind Walmart and Sam's Club. It features a 100% occupancy rate with a current tenant, Marco Technologies. The property includes over 2,980 SF of high-end finished, conditioned office space, a break room with custom cabinetry, a full-size refrigerator, and a stainless steel sink. There is also a conference room, two private offices, a reception area, and a technical lab area. The property has two ADA-compliant restrooms, an open collaborative space, Cat 5 data cabling throughout, commercial neutral carpet squares, and indirect LED lighting. The 1,020 SF heated shop area includes a 14' roll-up door with opener and floor drain, a 16' ceiling height, a walk-in door at the rear, and backyard parking. The shop has an entrance with a roll-up door and park and walk-in access off Morrison Avenue. The property is suited for industrial or manufacturing use.

    Financial Insights

    Value Estimation Calculated for Office B

    Conservative
    $577.2K
    NOI $51,952 @ 9.00% cap · cautious / downside scenario
    Moderate
    $742.2K
    NOI $51,952 @ 7.00% cap · market / base-case scenario
    Aggressive
    $1.04M
    NOI $51,952 @ 5.00% cap · optimistic / upside scenario

    NOI & Cap Rate Calculator

    NOI Build-Up
    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.
         Calculated for Office B

    Component $ $/SF
    Gross rent $80.6k $20.16
    − Vacancy −$11.4k −$2.84
    EGI $69.3k $17.32
    − OpEx −$17.3k −$4.33
    NOI $52.0k $12.99
    4,000 SF · lease $20.16/SF/yr · vacancy 14.10% · expense 25.00%

    Alternative Use Scenarios

    Best Use
    Office B
    $742.2K
    $649.4K – $865.9K (±1% cap)
    NOI $51,952 @ 7.0% cap · market cap 7.87%
    Second Best
    Flex RnD
    $447.0K
    $391.1K – $521.5K (±1% cap)
    NOI $31,287 @ 7.0% cap · market cap 4.74%
    Theoretical Best
    Office A
    $951.9K
    $832.9K – $1.11M (±1% cap)
    NOI $66,631 @ 7.0% cap · market cap 10.10%
    Zoning and permitted uses should be independently verified with local authorities.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Loving Paws Veterinary Clinic Henderson Veterinary Service Veterinary Clinic The Sports Cave (Bike/Boat/Book/etc) Store Marco Technologies Business To Business Service

    Suggested Use

    Restaurant Real Estate Agency Law Firm Dental Office Spa & Massage Center Hair Salon Pharmacy Nail Salon Gym & Fitness Center Big Box & Wholesale Store

    Zoning and permitted uses should be independently verified with local authorities.

    Similar Places Nearby

    • Key West Cafe Food Truck — carpet garage, bismarck, nd 58504

    Location Insight

    • Map
    • Local Demand
    City
    Bismarck
    County
    Burleigh
    State
    North Dakota
    Longitude
    -100.747
    Latitude
    46.79

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    FAQs

    What type of property is this?
    Flex space - 4,000 SF industrial property with high-end office and shop space.
    Where is this flex space located?
    The property is located at 2906 Morrison Ave Unit 1 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: 100% Occupancy Rate: Provides immediate and reliable income.; High‑End Finished Office Space (2,980 SF): Includes a technical lab area, conference room and ADA‑compliant facilities.; Current Tenant: Leased to Marco Technologies, a stable and established tenant.
    (701) 319-3000
    We can help!
    Listing Contact
    George Yineman
    George Yineman
    Real Estate License ID: ND #7535
    Learn More
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    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
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