Flex Shop Condominium with
For Sale
$301,500
3232 Airway Avenue #2, Bismarck, ND 58504
A front office and a separate shop area support a range of business or personal uses.
Property Size2,010 SF
Price / SF$150
Days on Market185
Property Features for 3232 Airway Avenue #2
General Information
Standard status
Active
Size
2,010 SF
Property subtype
Commercial
Site & Location
Highway Access
Yes
Utilities to Site
Yes
Warehouse & Industrial
Power
220 amps
Voltage
220 V
Three-Phase Power
Yes
Additional Details
Property Use
Shop
Taxes and HOA fees
Annual Taxes
$561
Building Details
Building Size
2,010 SF
Year Built
2025
Listing Agency:
Oaktree Realty
Listed By:
Darren Schmidt · License #ND 7897
(701) 223-7422
Source:
Donner-realty
Added: Apr 30
Changed: Oct 25
Last Checked: Oct 29 at 7:24PM
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
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Investment Insights
Based on property information with market context.
These flex shop condominiums pair a shop area with a front office and bathroom. Individual units contain 2,010 to 2,040 square feet, with the option to connect units into a larger open interior. Shop features include a 14-by-14-foot overhead door, 16-foot sidewalls, radiant heat, hot and cold water, a trench drain, and 220A-220v 3 PHASE electrical power. The office has a window and a PTAC heating and air-conditioning unit. Bathrooms include a toilet, sink, and 50-gallon water heater, with shower and laundry options.
Located in south Bismarck, the development offers access to Bismarck Expressway and I-94. It has 137 parking spaces, exterior lighting, and available signage space. Individually secured outdoor fenced storage areas are optional. The association handles snow removal, water, sewer, exterior maintenance, and exterior insurance. Units are expected to be ready for occupancy in Summer 2026.
Located in south Bismarck, the development offers access to Bismarck Expressway and I-94. It has 137 parking spaces, exterior lighting, and available signage space. Individually secured outdoor fenced storage areas are optional. The association handles snow removal, water, sewer, exterior maintenance, and exterior insurance. Units are expected to be ready for occupancy in Summer 2026.
Key Highlights
- Shop units range from 2,010 to 2,040 square feet, with the option to combine units
- 14x14 front overhead door with opener and WIFI connection capabilities
- 16‑foot sidewalls, radiant heat, trench floor drain, and 220A- 220v 3 PHASE electrical power
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
Industrial
$122.7K
$107.4K – $143.2K
NOI $8,590 @ 7.0% cap · market cap 2.85%
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.
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Current Use
Lease Details
Yes
Highway access
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
218
Businesses Nearby
Well-served
Demand for This Use
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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
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Cap Rate, Value Estimation, Potential NOI and more
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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 and a separate shop area support a range of business or personal uses.
Where is this flex space located?
The property is located at 3232 Airway Avenue #2 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: Shop units range from 2,010 to 2,040 square feet, with the option to combine units; 14x14 front overhead door with opener and WIFI connection capabilities; 16‑foot sidewalls, radiant heat, trench floor drain, and 220A- 220v 3 PHASE electrical power
