Condo Shop with Fenced
3212 Airway Avenue Bismarck, ND 58504
For Sale
$306,000
Flex-style condo shop units include an overhead door, office with PTAC, and individually secured outside fenced storage.
Property Size2,040 SF
Price / SF$150
Days on Market354
Property Features for 3212 Airway Avenue
General Information
- Standard status
- Active
- Size
- 2,040 SF
- Property subtype
- Office
Building Details
- Year Built
- 2022
Listing Agency:
Oaktree Realty
(701) 226-5942
Listed By:
DARREN SCHMIDT · License #7897
(701) 226-5942
Source:
Xome
Added: Aug 5, 2025
Changed: Jul 23
Last Checked: Jul 23 at 2:10PM
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 Oaktree Realty
Investment Insights
Based on property information with market context.
The Airway Project Shop Condominiums offer individual condo shop units with outside, individually secured fenced storage areas. Each unit is configured with a 14x14 front overhead door with opener and WiFi connection capabilities, 16-foot sidewalls, energy efficient radiant heat, hot and cold water, a trench floor drain, and 220A-220V three-phase electrical power. A front office with a window is equipped with an installed PTAC heat and A/C unit for temperature control, and the bathroom includes a toilet, sink, and a 50-gallon water heater with an option for a shower and laundry area. Units also feature front and rear service doors for operational access, and there is lighted exterior space with signage area available. The development provides 137 total parking spaces.
The property is located in south Bismarck with easy access to the Bismarck Expressway and I-94. The association is governed by covenants and by-laws and maintains snow removal, water, sewer, exterior maintenance, and exterior insurance.
Units can be used for business or personal purposes. An option is available to combine units with an open interior span.
The property is located in south Bismarck with easy access to the Bismarck Expressway and I-94. The association is governed by covenants and by-laws and maintains snow removal, water, sewer, exterior maintenance, and exterior insurance.
Units can be used for business or personal purposes. An option is available to combine units with an open interior span.
Key Highlights
- Airway Project Shop Condominiums: condo shop units in south Bismarck with individually secured, outside fenced storage
- Each unit includes a 14x14 front overhead door with opener and WiFi connection plus 16‑foot sidewalls
- Utilities/features include energy efficient radiant heat, hot & cold water, trench floor drain, and 220A‑220V 3‑phase electrical power
Financial Insights For Office B
Simulate Cap Rate and NOI
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.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $41.1k | $20.16 |
| − Vacancy | −$5.8k | −$2.84 |
| EGI | $35.3k | $17.32 |
| − OpEx | −$8.8k | −$4.33 |
| NOI | $26.5k | $12.99 |
2,040 SF · lease $20.16/SF/yr · vacancy 14.10% · expense 25.00%
Alternative Uses
Best Use
Office B
$378.5K
$331.2K – $441.6K
NOI $26,496 @ 7.0% cap · market cap 8.66%
Second Best
Flex RnD
$228.0K
$199.5K – $266.0K
NOI $15,957 @ 7.0% cap · market cap 5.21%
Theoretical Best
Office A
$485.5K
$424.8K – $566.4K
NOI $33,982 @ 7.0% cap · market cap 11.11%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Location Intelligence
Current Use by Public Records
Flex space
Similar Off Market Nearby
- Key West Cafe Food Truck — carpet garage, bismarck, nd 58504
FAQs
What type of property is this?
Flex space - Flex-style condo shop units include an overhead door, office with PTAC, and individually secured outside fenced storage.
Where is this flex space located?
The property is located at 3212 Airway Avenue Bismarck, ND.
What is the asking price?
The asking price for this property is $306,000.
What are key features of this property?
This property features: Airway Project Shop Condominiums: condo shop units in south Bismarck with individually secured, outside fenced storage; Each unit includes a 14x14 front overhead door with opener and WiFi connection plus 16‑foot sidewalls; Utilities/features include energy efficient radiant heat, hot & cold water, trench floor drain, and 220A‑220V 3‑phase electrical power
