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    New Shop Condos For Lease Title is generated by Realmo AI

    4-6609 Rubicon Road, Bismarck, ND 58504

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    For Lease
    $2,400/Mo $12 SF/Yr (calc)

    New construction shop condos with flexible layouts and heavy industrial zoning.

    Property size:
    2,400 SF
    Added:
    Jan 31, 2026
    Days on Market:
    120
    Last Refresh:
    May 26 at 12:43 am

    Property Features for 4-6609 Rubicon Road

    General Information

    Standard status
    Active
    Size
    2,400 SF

    We can help!

    Listing Contact
    Caylee Krein

    Listing agent Caylee Krein

    Listing office Realty One Group - Encore

    Listing date Jan 31, 2026

    Source Exprealty

    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 Realty One Group - Encore

    HighLights

    • New construction shop condos with heavy industrial zoning, offering versatile usage.
    • Flexible, build‑to‑suit unit configurations with options to conjoin multiple units for expanded space.
    • Oversized 16' wide x 18' tall garage doors and 20' sidewalls provide substantial clearance and access.
    • Standard radiant heat included in each unit.
    • Midco fiber optic internet available.
    • Snow removal and water included in lease.

    Overview

    New construction shop condos are available for lease, situated on a property with heavy industrial zoning. The units are build-to-suit, offering flexible layout options and the possibility to combine multiple units for larger footprints. Standard shop units measure 80' deep by 30' wide, with expansion available in 30' increments, allowing for 30', 60', 90', or up to 120' wide configurations. Demising walls can be removed to create larger, open unit layouts. Each unit includes oversized garage doors measuring 16' wide x 18' tall, along with 20' sidewalls, providing substantial clearance and access. Radiant heat is included in each unit. Tenants have the option to add cooling systems at their own expense, as cooling is not provided. Standard electrical service is provided, with three-phase power available at the tenant's cost. Midco fiber optic internet is accessible on the property. The property is served by septic, with the tenant responsible for pumping. The tenant is responsible for heat and electricity costs. Water is included, and snow removal is provided. Additional outdoor storage and/or parking may be available for an extra cost, depending on availability. A 2-year minimum lease is required, with a 5-year lease preferred. Construction is expected to commence in April/May 2026, with anticipated move-in readiness in July/August 2026.
    Location Intelligence

    Current Use by Public Records

    Flex space

    Suggested Use

    Garden Center Clothing & Fashion Store Computer & Electronic Repair Tech Support Center (Bike/Boat/Book/etc) Store

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Bismarck
    County
    Burleigh
    State
    North Dakota
    Longitude
    -100.616
    Latitude
    46.7287

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    FAQs

    What type of property is this?
    Flex space - New construction shop condos with flexible layouts and heavy industrial zoning.
    Where is this flex space located?
    The property is located at 4-6609 Rubicon Road Bismarck, ND.
    What is the lease rate?
    The lease rate is $2,400 /Mo.
    What are key features of this property?
    This property features: New construction shop condos with heavy industrial zoning, offering versatile usage.; Flexible, build‑to‑suit unit configurations with options to conjoin multiple units for expanded space.; **Oversized 16' wide x 18' tall garage doors and 20' sidewalls provide substantial clearance and access.**
    (701) 934-3757
    We can help!
    Listing Contact
    Caylee Krein
    Learn More
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    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
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    4-6609 Rubicon Road, Bismarck, ND 58504
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