Flex Space Shop
New
For Sale
$269,900
3-1429 Burlington Dr, Bismarck, ND 58504
Efficient commercial unit with overhead access, radiant heat, three-phase power, and built-in industrial shelving.
Property Size1,800 SF
Price / SF$149.94
Days on Market6
Property Features for 3-1429 Burlington Dr
General Information
Standard status
Active
Size
1,800 SF
Warehouse & Industrial
Drive-In Doors
1
Three-Phase Power
Yes
Taxes and HOA fees
Annual Taxes
$2,573
Listing Agency:
NORTHWEST REALTY GROUP
(701) 220-4888
Listed By:
JIM CHRISTIANSON
(701) 220-4888
Source:
Exprealty
Added: Aug 28
Changed: Aug 31
Last Checked: Sep 1 at 9:41PM
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
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.
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 = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$14,079
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
5.22%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$281,580
$281.6K
Cap Rate 7%
$201,129
$201.1K
Cap Rate 9%
$156,433
$156.4K
Market Conditions
NOI Build-Up for 1,800 SF
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.
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 rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
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
NOI $14,079 @ 7.0% cap · market cap 5.22%
Second Best
Warehouse
$127.1K
$111.2K – $148.3K
NOI $8,898 @ 7.0% cap · market cap 3.30%
Theoretical Best
Office A
$428.3K
$374.8K – $499.7K
NOI $29,984 @ 7.0% cap · market cap 11.11%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
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
Questions? Ask Rey
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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 - 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 $269,900.
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
