Aspen Business Park Mixed-Use
For Sale
$879,900
4475 Coleman, Bismarck, ND 58503
New shell space allows businesses to customize an owned commercial unit for office and other small-business operations.
Property Size2,730 SF
Price / SF$322.31
Days on Market96
Property Features for 4475 Coleman
General Information
Standard status
Active
Size
2,730 SF
Property subtype
Commercial
Zoning
CG
Additional Details
Furnished
No
Taxes and HOA fees
Annual Taxes
$3,979
Amenities
Garage: On Street, On Site
Style: Main Floor Unit
0.00
Main Floor Unit
On Street, On Site
Building Details
Year Built
2025
Listing Agency:
Realty One Group - Encore
Listed By:
PATRICK KOSKI · License #8121
Source:
Clearwaterproperties
Added: May 27
Changed: Aug 29
Last Checked: Aug 28 at 9:09AM
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
Investment Insights
Based on property information with market context.
This mixed-use commercial unit at Aspen Business Park was built in 2025 and is offered in shell condition, allowing the buyer to configure the interior to suit its business requirements. Approximately 2,730 square feet is available, with CG zoning supporting office and other commercial applications subject to applicable building codes and zoning requirements.
The property is positioned next to Cash Wise Foods and has visibility from 43rd Avenue in northwest Bismarck. Ownership provides a path for a small to medium-sized business seeking a dedicated commercial location rather than leased space. The property is offered by the broker/owner.
The property is positioned next to Cash Wise Foods and has visibility from 43rd Avenue in northwest Bismarck. Ownership provides a path for a small to medium-sized business seeking a dedicated commercial location rather than leased space. The property is offered by the broker/owner.
Key Highlights
- Approximately 2,730 square feet available
- 2025 construction
- Delivered in shell condition for buyer customization
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
$35,457
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
4.03%
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%
$709,140
$709.1K
Cap Rate 7%
$506,529
$506.5K
Cap Rate 9%
$393,967
$394.0K
Market Conditions
NOI Build-Up for 2,730 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
$55.0K $20.16/SF
− Vacancy
−$7.8K −$2.84/SF
EGI
$47.3K $17.32/SF
− OpEx
−$11.8K −$4.33/SF
NOI
$35.5K $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%
$709,140
Cap Rate 7%
$506,529
Cap Rate 9%
$393,967
Alternative Uses
Best Use
Office B
$506.5K
$443.2K – $591.0K
NOI $35,457 @ 7.0% cap · market cap 4.03%
Second Best
Mixed Use
$292.8K
$256.2K – $341.6K
NOI $20,495 @ 7.0% cap · market cap 2.33%
Theoretical Best
Office A
$649.7K
$568.5K – $757.9K
NOI $45,476 @ 7.0% cap · market cap 5.17%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
598
Businesses Nearby
Explore this area
Business Placement
Demographics for 58503, ND
37,157
Population
15,997
Households
2.3
Avg Household Size
39
Median Age
48%
College-Educated
96%
High-School Grad
135.6 sq mi
ZIP Area
274
Density / Sq Mi
$105,108
Median Household Income
$60,058
Median Earnings
$1,131
Median Rent
$383,300
Median Home Value
Market
Vacancy Rate% for Office in Midwest region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Mixed-use property - New shell space allows businesses to customize an owned commercial unit for office and other small-business operations.
Where is this mixed-use property located?
The property is located at 4475 Coleman Bismarck, ND.
What is the asking price?
The asking price for this property is $879,900.
What are key features of this property?
This property features: Approximately 2,730 square feet available; 2025 construction; Delivered in shell condition for buyer customization
