Listing Agency: NORTHWEST REALTY GROUP Show Phone

Listed By: JIM CHRISTIANSON Show Phone

Source: Exprealty

Added: Aug 28 Changed: Oct 13 Last Checked: Oct 16 at 12:52PM

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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 NORTHWEST REALTY GROUP

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Investment Insights

Based on property information with market context.

This 1,800-square-foot shop condominium is configured as a 30' x 60' commercial unit with 16' side walls and a 14' x 14' overhead door. The space includes two door remotes, Wi-Fi capability, new LED ceiling lighting, radiant heat, roughed-in plumbing, a trench floor drain, and three-phase electrical service. Four-foot-deep industrial-grade rack shelving is also installed.

The property is near Sam's Club, south Walmart, Dunn Brothers Coffee, the FedEx Ship Center, and the Bobcat Acceleration Center, with additional businesses in the surrounding commercial area.

Key Highlights

• 1,800‑square‑foot shop condominium configured as a 30' x 60' unit
• 14' x 14' overhead door with 2 remotes and Wi‑Fi capability
• 16' side walls with new LED ceiling lights

Financial Insights

Estimated NOI and Cap Rate

NOI / Yr

$14,079

Cap Rate

5.67%

Suggested Prices Based on Cap Rates

Cap Rate 5%

$281,580 $281.6K

Cap Rate 7%

$201,129 $201.1K

Cap Rate 9%

$156,433 $156.4K

Is this asking price fair?

Market Conditions

NOI Build-Up for 1,800 SF

Gross rent

$24.8K $13.80/SF

− Vacancy

−$3.2K −$1.77/SF

EGI

$21.7K $12.03/SF

− OpEx

−$7.6K −$4.21/SF

NOI

$14.1K $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%

$281,580

Cap Rate 7%

$201,129

Cap Rate 9%

$156,433

Alternative Uses

Best Use

Flex RnD

$201.1K

$176.0K – $234.7K (±1% cap)

NOI $14,079 @ 7.0% cap · market cap 5.67%

Second Best

Warehouse

$127.1K

$111.2K – $148.3K (±1% cap)

NOI $8,898 @ 7.0% cap · market cap 3.58%

Theoretical Best

Office A

$428.3K

$374.8K – $499.7K (±1% cap)

NOI $29,984 @ 7.0% cap · market cap 12.07%

Zoning and permitted uses should be independently verified with authorities. How Realmo checks its estimates

Property Analytics

Current Use

Flex space

Suggested Use

Top Pick Dental Office Pharmacy Real Estate Agency (Bike/Boat/Book/etc) Store Cafe & Coffee Shop Grocery & Convenience Store

Score = modeled unmet demand for each use within ~1 mi (higher = bigger opportunity). Zoning and permitted uses should be independently verified with local authorities.

Lease Details

1

Drive-in doors

Location Intelligence

Trade Area within ½ mile

330

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

4.4% 2019

4.9% 2020

3.6% 2021

3.1% 2022

4.6% 2023

5% 2024

4.9% 2025

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Frequently Asked Questions

What type of property is this?

Flex space - Efficient commercial unit with overhead access, radiant heat, three-phase power, and built-in industrial shelving.

Where is this flex space located?

The property is located at 3-1429 Burlington Dr Bismarck, ND.

What is the asking price?

The asking price for this property is $248,400.

What are key features of this property?

This property features: 1,800‑square‑foot shop condominium configured as a 30' x 60' unit; 14' x 14' overhead door with 2 remotes and Wi‑Fi capability; 16' side walls with new LED ceiling lights