Flex Shop
For Sale
$301,500
3232 Airway Avenue, Bismarck, ND 58504
Units can be combined to create a continuous interior span and support business or personal use.
Property Size2,010 SF
Price / SF$150
Days on Market186
Property Features for 3232 Airway Avenue
General Information
Standard status
Active
Size
2,010 SF
Property subtype
Commercial
Site & Location
Highway Access
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 8:38AM
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 shop condominiums in south Bismarck are designed for business or personal use. Units may be combined to form an open interior span. Each includes a 14-by-14-foot overhead door, 16-foot sidewalls, radiant heat, hot and cold water, a trench drain, and 220A, 220V three-phase power. A front office has a window and PTAC heating and air conditioning; the bathroom includes a toilet, sink, and 50-gallon water heater, with provisions for an optional shower and laundry area. Front and rear service doors are also provided.
The property is near Bismarck Expressway and I-94. The development has 137 parking spaces, exterior lighting, and available signage space. Optional individually secured outdoor fenced storage areas are offered. The association handles snow removal, water, sewer, exterior upkeep, and exterior insurance. Units were expected to be ready for occupancy in summer 2026.
The property is near Bismarck Expressway and I-94. The development has 137 parking spaces, exterior lighting, and available signage space. Optional individually secured outdoor fenced storage areas are offered. The association handles snow removal, water, sewer, exterior upkeep, and exterior insurance. Units were expected to be ready for occupancy in summer 2026.
Key Highlights
- 14‑by‑14‑foot front overhead door with opener and Wi‑Fi capability
- 16‑foot sidewalls, radiant heat, and a trench floor drain
- 220A, 220V three‑phase electrical service
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$15,722
Cap Rate
5.21%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$314,440
$314.4K
Cap Rate 7%
$224,600
$224.6K
Cap Rate 9%
$174,689
$174.7K
Market Conditions
NOI Build-Up for 2,010 SF
Gross rent
$27.7K $13.80/SF
− Vacancy
−$3.6K −$1.77/SF
EGI
$24.2K $12.03/SF
− OpEx
−$8.5K −$4.21/SF
NOI
$15.7K $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%
$314,440
Cap Rate 7%
$224,600
Cap Rate 9%
$174,689
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 authorities.
How Realmo checks its estimates
Property Analytics
Current Use
Lease Details
16 ft
Clear height
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 - Units can be combined to create a continuous interior span and support business or personal use.
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: 14‑by‑14‑foot front overhead door with opener and Wi‑Fi capability; 16‑foot sidewalls, radiant heat, and a trench floor drain; 220A, 220V three‑phase electrical service
