Versatile Office/Medical Building For
For Sale
Contact for pricing
421 N 4th St, Bismarck, ND 58501
3,880 SF building ideal for office or medical use.
Property Size3,880 SF
Lot Size0.19 Acres
Price / SF$252.55
Days on Market196
Property Features for 421 N 4th St
General Information
Standard status
Active
Size
3,880 SF
Lot size
0.19 Acres
Property subtype
Office
Zoning
DC
Building Details
Year Built
1971
Buildings
1
Listing Agency:
Rise Property Brokers, Inc.
(701) 400-4445
Listed By:
Jon Lee · License #ND 11237
Source:
Crexi
Added: Jan 27
Changed: Aug 8
Last Checked: Aug 11 at 7:06AM
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 Rise Property Brokers, Inc.
Investment Insights
Based on property information with market context.
This 3,880 square foot building, constructed in 1971, is zoned DC and suitable for office or medical use. The property features a spacious lobby, five private offices, a kitchenette, and multiple bathrooms on two levels. Updated interiors enhance the space. A drive-thru and ample off-street parking are available. The property benefits from a prominent downtown corner location, providing visibility. Architectural details include a classic brick exterior, skylights, and large windows. Cube pylon signage is also present. The lot size is 8,416 square feet. The 2025 taxes are $6,296.19, with a specials balance of $1,289.65 and specials installments of $537.73.
Key Highlights
- Prominent downtown corner location offering high visibility
- Versatile 3,880 SF building suitable for office or medical use
- Ample off‑street parking and a convenient drive‑thru
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$50,394
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
5.14%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$1,007,880
$1.0M
Cap Rate 7%
$719,914
$719.9K
Cap Rate 9%
$559,933
$559.9K
Market Conditions
NOI Build-Up for 3,880 SF
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.
Gross rent
$78.2K $20.16/SF
− Vacancy
−$11.0K −$2.84/SF
EGI
$67.2K $17.32/SF
− OpEx
−$16.8K −$4.33/SF
NOI
$50.4K $12.99/SF
Area
Burleigh County, ND
Vacancy
14.10%
Lease Rate
$20.16 /SF/Yr
Expense Ratio
25.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$1,007,880
Cap Rate 7%
$719,914
Cap Rate 9%
$559,933
Alternative Uses
Best Use
Office B
$719.9K
$629.9K – $839.9K
NOI $50,394 @ 7.0% cap · market cap 5.14%
Second Best
Healthcare Medical
$660.8K
$578.2K – $770.9K
NOI $46,255 @ 7.0% cap · market cap 4.72%
Theoretical Best
Office A
$923.3K
$807.9K – $1.08M
NOI $64,632 @ 7.0% cap · market cap 6.60%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
3,155
Businesses Nearby
Balanced
Demand for This Use
Explore this area
Business Placement
Demographics for 58501, ND
28,388
Population
13,445
Households
2.1
Avg Household Size
38
Median Age
35%
College-Educated
95%
High-School Grad
22.8 sq mi
ZIP Area
1,245
Density / Sq Mi
$69,796
Median Household Income
$45,237
Median Earnings
$938
Median Rent
$276,000
Median Home Value
Market
Vacancy Rate% for Office in Midwest region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Similar Off Market Nearby
- Frenette Michael DVM — 200 W Sweet Ave, Bismarck, ND 58504
- All Pets Veterinary Clinic — 200 W Sweet Ave, Bismarck, ND 58504
Frequently Asked Questions
What type of property is this?
Medical Office Space - 3,880 SF building ideal for office or medical use.
Where is this medical office space located?
The property is located at 421 N 4th St Bismarck, ND.
What is the asking price?
The asking price for this property is $979,900.
What are key features of this property?
This property features: Prominent downtown corner location offering high visibility; Versatile 3,880 SF building suitable for office or medical use; Ample off‑street parking and a convenient drive‑thru
