Downtown Bismarck Cocktail Bar For
For Sale
Contact for pricing
510 East Main Avenue, Bismarck, ND 58501
Cocktail bar, patio, and lounge in downtown Bismarck.
Property Size29,064 SF
Price / SF$170.31
Days on Market175
Property Features for 510 East Main Avenue
General Information
Standard status
Active
Size
29,064 SF
Property subtype
Retail, Office
Zoning
DC - Downtown Core
Building Details
Year Built
2012
Buildings
1
Tenancy
Multi
Listing Agency:
Aspen Group LLP
Listed By:
Michael Ilse · License #ND 8214
(701) 223-2450
Source:
Crexi
Added: Mar 26
Changed: Sep 8
Last Checked: Sep 15 at 7:48AM
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 Aspen Group LLP
Investment Insights
Based on property information with market context.
Located in the Gulch Block building at 510 East Main Ave in Downtown Bismarck, this property features a cocktail bar, patio, and lounge. The offering includes the business only.
Key Highlights
- Cocktail bar, patio & lounge business opportunity.
- Located in the Gulch Block building.
- Address: 510 East Main Ave.
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
$348,409
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
7.04%
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%
$6,968,180
$7.0M
Cap Rate 7%
$4,977,271
$5.0M
Cap Rate 9%
$3,871,211
$3.9M
Market Conditions
NOI Build-Up for 29,064 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
$495.3K $17.04/SF
− Vacancy
−$30.7K −$1.06/SF
EGI
$464.5K $15.98/SF
− OpEx
−$116.1K −$4.00/SF
NOI
$348.4K $11.99/SF
Area
Burleigh County, ND
Vacancy
6.20%
Lease Rate
$17.04 /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%
$6,968,180
Cap Rate 7%
$4,977,271
Cap Rate 9%
$3,871,211
Alternative Uses
Best Use
Specialty Retail
$4.98M
$4.36M – $5.81M
NOI $348,409 @ 7.0% cap · market cap 7.04%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$6.92M
$6.05M – $8.07M
NOI $484,140 @ 7.0% cap · market cap 9.78%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
3,605
Businesses Nearby
Well-served
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
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Retail in Midwest region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Bar & Pub - Cocktail bar, patio, and lounge in downtown Bismarck.
Where is this bar & pub located?
The property is located at 510 East Main Avenue Bismarck, ND.
What is the asking price?
The asking price for this property is $4,950,000.
What are key features of this property?
This property features: Cocktail bar, patio & lounge business opportunity.; Located in the Gulch Block building.; Address: 510 East Main Ave.
