Industrial Shop Condominium
3232 Airway Avenue Bismarck, ND 58504
3232 Airway Avenue, Bismarck, ND, 58504
$301,500
For Sale
$301,500
Condo shop units feature 14x14 front overhead doors, 16-foot sidewalls, radiant heat, and hot/cold water.
Property Size2,010 SF
Price / SF$150
Days on Market19
Property Features for 3232 Airway Avenue
General Information
- Standard status
- Active
- Size
- 2,010 SF
- Property subtype
- Commercial
Building Details
- Year Built
- 2025
Listing agency
Oaktree Realty
(701) 226-5942
Listed by
DARREN SCHMIDT · License #7897
Source
Clearwaterproperties
Added: Jul 4 Updated: Jul 21 at 7:02PM Checked: Jul 22 at 3:59AM
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.
Airway Project Shop Condominiums offer individually owned condo shop units with optional individually secured outside fenced storage areas. Units are designed for either business or personal use and include an open interior span option when combining units. Standard amenities include a 14x14 front overhead door with opener, radiant heat, hot and cold water, a trench floor drain, and 220A 220V 3-phase electrical power.
Each unit includes a front office with a window and an installed PTAC heat and A/C unit, plus a bathroom with a toilet, sink, and a 50-gallon water heater with an option for a shower and laundry area. Units are supported by front and rear service doors for day-to-day operations, with lighted exterior and available signage space for visibility.
The development provides a total of 137 parking spaces. An association governed by covenants and by-laws handles snow removal, water, sewer, exterior maintenance, and exterior insurance. Units are expected to be ready for occupancy in Summer 2026, with some photos of previously completed units.
Each unit includes a front office with a window and an installed PTAC heat and A/C unit, plus a bathroom with a toilet, sink, and a 50-gallon water heater with an option for a shower and laundry area. Units are supported by front and rear service doors for day-to-day operations, with lighted exterior and available signage space for visibility.
The development provides a total of 137 parking spaces. An association governed by covenants and by-laws handles snow removal, water, sewer, exterior maintenance, and exterior insurance. Units are expected to be ready for occupancy in Summer 2026, with some photos of previously completed units.
Key Highlights
- Condo shop units in south Bismarck with easy access to Bismarck Expressway and I‑94
- Units offer 14x14 front overhead door (with opener & WiFi), 16‑foot sidewalls, and an open interior span option for combining units
- Energy‑efficient radiant heat plus hot & cold water, 220A (220V 3‑phase electrical power), and trench floor drain
Local Financial Insights For Flex RnD
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 | $27.7k | $13.80 |
| − Vacancy | −$3.6k | −$1.77 |
| EGI | $24.2k | $12.03 |
| − OpEx | −$8.5k | −$4.21 |
| NOI | $15.7k | $7.82 |
2,010 SF · lease $13.80/SF/yr · vacancy 12.80% · expense 35.00%
Alternative Uses
Best Use
Flex RnD
$224.6K
$196.5K – $262.0K
NOI $15,722 @ 7.0% cap · market cap 5.21%
Second Best
Warehouse
$141.9K
$124.2K – $165.6K
NOI $9,936 @ 7.0% cap · market cap 3.30%
Theoretical Best
Office A
$478.3K
$418.5K – $558.0K
NOI $33,482 @ 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 For Sale Nearby
Similar Off Market Nearby
- Key West Cafe Food Truck — carpet garage, bismarck, nd 58504
FAQs
What type of property is this?
Flex space - Condo shop units feature 14x14 front overhead doors, 16-foot sidewalls, radiant heat, and hot/cold water.
Where is this flex space located?
The property is located at 3232 Airway Avenue Bismarck, ND.
What is the asking price?
The asking price for this property is $301,500.
What are key features of this property?
This property features: Condo shop units in south Bismarck with easy access to Bismarck Expressway and I‑94; Units offer 14x14 front overhead door (with opener & WiFi), 16‑foot sidewalls, and an open interior span option for combining units; Energy‑efficient radiant heat plus hot & cold water, 220A (220V 3‑phase electrical power), and trench floor drain
