Flex Shop Condominium with Overhead
For Sale
$324,900
3224 Airway Avenue, Bismarck, ND 58504
A front office, dedicated parking, and optional fenced outdoor storage support a range of business or personal uses.
Property Size2,040 SF
Price / SF$159.26
Days on Market186
Property Features for 3224 Airway Avenue
General Information
Standard status
Active
Size
2,040 SF
Property subtype
Commercial
Site & Location
Highway Access
Yes
Fenced Yard
Yes
Outdoor Storage
Yes
Utilities to Site
Yes
Warehouse & Industrial
Clear Height
16 ft
Power
220 amps
Voltage
220 V
Three-Phase Power
Yes
Building Details
Year Built
2025
Listing Agency:
Oaktree Realty
Listed By:
DARREN SCHMIDT · License #ND 7897
(701) 226-5942
Source:
Gabrielblackre
Added: Apr 30
Changed: Oct 31
Last Checked: Oct 31 at 2:27PM
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
Ask AI about this property
Review the available facts, identify missing information and prepare questions for the agent.
Investment Insights
Based on property information with market context.
Airway Project offers flex shop condominium units ranging from 2,010 to 2,040 square feet, with the option to combine units into an open interior span. Each unit includes 16-foot sidewalls, a 14-by-14-foot front overhead door, a rear 8-by-10-foot overhead door, and front and rear service doors. Interior features include a windowed office with PTAC heating and air conditioning, radiant heat, hot and cold water, a trench drain, 220A, 220V three-phase power, and a bathroom with a 50-gallon water heater. A shower and laundry area are optional. Individually secured fenced outdoor storage is also available as an option.
The development is in south Bismarck, with access to Bismarck Expressway and I-94. It includes 137 parking spaces, exterior lighting, and space for signage. The association handles snow removal, water, sewer, exterior upkeep, and exterior insurance under its covenants and bylaws. Units are expected to be ready for occupancy in Summer 2026.
The development is in south Bismarck, with access to Bismarck Expressway and I-94. It includes 137 parking spaces, exterior lighting, and space for signage. The association handles snow removal, water, sewer, exterior upkeep, and exterior insurance under its covenants and bylaws. Units are expected to be ready for occupancy in Summer 2026.
Key Highlights
- 2,010–2,040‑square‑foot condominium shop units; units may be combined for an open interior span
- 14‑by‑14‑foot front and 8‑by‑10‑foot rear overhead doors
- 16‑foot sidewalls and 220A, 220V three‑phase electrical service
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$15,957
Cap Rate
4.91%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$319,140
$319.1K
Cap Rate 7%
$227,957
$228.0K
Cap Rate 9%
$177,300
$177.3K
Market Conditions
NOI Build-Up for 2,040 SF
Gross rent
$28.2K $13.80/SF
− Vacancy
−$3.6K −$1.77/SF
EGI
$24.5K $12.03/SF
− OpEx
−$8.6K −$4.21/SF
NOI
$16.0K $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%
$319,140
Cap Rate 7%
$227,957
Cap Rate 9%
$177,300
Alternative Uses
Best Use
Flex RnD
$228.0K
$199.5K – $266.0K
NOI $15,957 @ 7.0% cap · market cap 4.91%
Second Best
Warehouse
$144.1K
$126.1K – $168.1K
NOI $10,084 @ 7.0% cap · market cap 3.10%
Theoretical Best
Office A
$485.5K
$424.8K – $566.4K
NOI $33,982 @ 7.0% cap · market cap 10.46%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Current Use
Lease Details
16 ft
Clear height
Yes
Fenced yard
Yes
Highway access
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
218
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
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 - A front office, dedicated parking, and optional fenced outdoor storage support a range of business or personal uses.
Where is this flex space located?
The property is located at 3224 Airway Avenue Bismarck, ND.
What is the asking price?
The asking price for this property is $324,900.
What are key features of this property?
This property features: 2,010–2,040‑square‑foot condominium shop units; units may be combined for an open interior span; 14‑by‑14‑foot front and 8‑by‑10‑foot rear overhead doors; 16‑foot sidewalls and 220A, 220V three‑phase electrical service
