9-Unit Apartment
For Sale
$539,900
501 Memorial Hwy, Bismarck, ND 58504
Income-producing multifamily property with a mix of two-bedroom and efficiency apartments.
Property Size4,365 SF
Price / SF$123.69
Days on Market87
Property Features for 501 Memorial Hwy
General Information
Standard status
Active
Size
4,365 SF
Units
Unit Mix
4 x 2BR, 5 x studio
Multifamily Units
9
Building Details
Year Built
1953
Listing Agency:
Better Homes and Gardens Real Estate Alliance Group
Listed By:
Jordan D Frank
(701) 391-1851
Source:
Corerealestateadvisors
Added: Jul 20
Changed: Oct 3
Last Checked: Oct 7 at 1:02PM
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 Better Homes and Gardens Real Estate Alliance Group
Investment Insights
Based on property information with market context.
This 9-unit apartment building contains four two-bedroom apartments and five efficiency, or studio, apartments. The efficiency units are located upstairs and share a bathroom. The property was built in 1953 and offers 4,365 square feet of building area.
All nine units are currently rented to tenants, providing an occupied multifamily configuration. The property is located at 501 Memorial Hwy in Bismarck, North Dakota.
All nine units are currently rented to tenants, providing an occupied multifamily configuration. The property is located at 501 Memorial Hwy in Bismarck, North Dakota.
Key Highlights
- 9 total apartment units
- Four two‑bedroom apartments
- Five upstairs efficiency units with a shared bathroom
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$24,968
Cap Rate
4.62%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$499,360
$499.4K
Cap Rate 7%
$356,686
$356.7K
Cap Rate 9%
$277,422
$277.4K
Market Conditions
NOI Build-Up for 4,365 SF
Gross rent
$49.2K $11.28/SF
− Vacancy
−$3.8K −$0.88/SF
EGI
$45.4K $10.40/SF
− OpEx
−$20.4K −$4.68/SF
NOI
$25.0K $5.72/SF
Area
Burleigh County, ND
Vacancy
7.80%
Lease Rate
$11.28 /SF/Yr
Expense Ratio
45.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$499,360
Cap Rate 7%
$356,686
Cap Rate 9%
$277,422
Alternative Uses
Best Use
Apartment 5plus
$356.7K
$312.1K – $416.1K
NOI $24,968 @ 7.0% cap · market cap 4.62%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.04M
$908.9K – $1.21M
NOI $72,711 @ 7.0% cap · market cap 13.47%
Zoning and permitted uses should be independently verified with authorities.
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Current Use
Lease Details
9
Residential units
Location Intelligence
Trade Area within ½ mile
914
Businesses Nearby
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
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Market
Vacancy Rate% for Multifamily in Midwest region
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Frequently Asked Questions
What type of property is this?
Apartment building - Income-producing multifamily property with a mix of two-bedroom and efficiency apartments.
Where is this apartment building located?
The property is located at 501 Memorial Hwy Bismarck, ND.
What is the asking price?
The asking price for this property is $539,900.
What are key features of this property?
This property features: 9 total apartment units; Four two‑bedroom apartments; Five upstairs efficiency units with a shared bathroom
