Bismarck Investment Shop
For Sale
$1,890,000
2908 Morrison Avenue, Bismarck, ND 58501
Fully leased commercial property near Walmart and Sam's Club.
Property Size12,000 SF
Price / SF$157.50
Days on Market213
Property Features for 2908 Morrison Avenue
General Information
Standard status
Active
Size
12,000 SF
Property subtype
Investment Shop Condos
Building Details
Building Size
12,000 SF
Year Built
2017
Listing Agency:
Rise Property Brokers, Inc.
Listed By:
George Yineman · License #ND #7535
(701) 319-3000
Source:
Risepropertybrokers
Added: Mar 6
Changed: Oct 1
Last Checked: Oct 4 at 7:22AM
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.
This commercial property, constructed in 2017, is located in south Bismarck, behind Walmart and Sam's Club. The building offers a total of 12,000 square feet of space, including 4,000 square feet of finished office and showroom area, and 8,000 square feet of shop and warehouse space. The property is located at 2908 Morrison Ave, Units 1-4. The property features commercial flooring, indirect LED lighting, and Cat 5 data jacks throughout. It also includes 14' roll-up doors with openers and 16' ceiling heights, as well as floor drains. The property is fully leased to reputable tenants. Suites 2, 3, and 4 are currently leased to Braun Intertec Corporation, and Suite 1 is leased to Loft 21 Boutique. The property is located in the MA Commercial zone.
Key Highlights
- Income‑generating property: Fully leased to reputable tenants.
- Modern 2017 construction with 12,000 SF of finished office/showroom and shop/warehouse space.
- Located in a high‑traffic commercial zone in South Bismarck.
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$93,862
Cap Rate
4.97%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,877,240
$1.9M
Cap Rate 7%
$1,340,886
$1.3M
Cap Rate 9%
$1,042,911
$1.0M
Market Conditions
NOI Build-Up for 12,000 SF
Gross rent
$165.6K $13.80/SF
− Vacancy
−$21.2K −$1.77/SF
EGI
$144.4K $12.03/SF
− OpEx
−$50.5K −$4.21/SF
NOI
$93.9K $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%
$1,877,240
Cap Rate 7%
$1,340,886
Cap Rate 9%
$1,042,911
Alternative Uses
Best Use
Flex RnD
$1.34M
$1.17M – $1.56M
NOI $93,862 @ 7.0% cap · market cap 4.97%
Second Best
Industrial
$732.6K
$641.0K – $854.7K
NOI $51,282 @ 7.0% cap · market cap 2.71%
Theoretical Best
Office A
$2.86M
$2.50M – $3.33M
NOI $199,893 @ 7.0% cap · market cap 10.58%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
297
Businesses Nearby
Well-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
View Realmo Analytics
Market
Vacancy Rate% for Industrial in Midwest region
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Frequently Asked Questions
What type of property is this?
Flex space - Fully leased commercial property near Walmart and Sam's Club.
Where is this flex space located?
The property is located at 2908 Morrison Avenue Bismarck, ND.
What is the asking price?
The asking price for this property is $1,890,000.
What are key features of this property?
This property features: Income‑generating property: Fully leased to reputable tenants.; Modern 2017 construction with 12,000 SF of finished office/showroom and shop/warehouse space.; Located in a high‑traffic commercial zone in South Bismarck.
