Lincoln Road Multifamily Investment
5180 Lincoln Rd Lincoln, ND 58504
5180 Lincoln Rd, Lincoln, ND, 58504
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For Sale
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36-unit apartment building built in 2014 near Kirkwood Mall.
Property Size45,507 SF
Lot Size2.76 Acres
Price / SF$130.20
Days on Market2951
Property Features for 5180 Lincoln Rd
General Information
- Standard status
- Active
- Size
- 45,507 SF
- Lot size
- 2.76 Acres
- Property subtype
- Multifamily
Building Details
- Year Built
- 2014
Listing Agency
Aspen Group LLP
(701) 223-2450
Listed by
Matt Reichert · License #ND 2039
Source
Crexi
Added: Jun 18, 2018 Checked: Jul 13 at 11:50 am
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.
This multifamily property, constructed in 2014, is located along Lincoln Road, a high-traffic corridor, and is situated minutes from Bismarck’s Kirkwood Mall. The property consists of a three-story, 36-unit apartment building with garages. The 45,507 square foot building is positioned on a 2.76-acre lot. Each unit includes a washer and dryer. The property features a security system with cameras connected to a DVR system, an auto door lock system with call units in each apartment, electric heat measured to each unit, wall AC units, a fire alarm system, and a fully fire-sprinkled system.
Key Highlights
- 36‑unit apartment building built in 2014
- High‑traffic location on Lincoln Road, minutes from Kirkwood Mall
- Washer and dryer in each unit
Local Financial Insights For Apartment 5plus
Simulate Cap Rate and NOI
NOI Build-Up
- 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.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $513.3k | $11.28 |
| − Vacancy | −$40.0k | −$0.88 |
| EGI | $473.3k | $10.40 |
| − OpEx | −$213.0k | −$4.68 |
| NOI | $260.3k | $5.72 |
45,507 SF · lease $11.28/SF/yr · vacancy 7.80% · expense 45.00%
Alternative Uses
Best Use
Apartment 5plus
$3.72M
$3.25M – $4.34M
NOI $260,304 @ 7.0% cap · market cap 4.39%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$10.83M
$9.48M – $12.63M
NOI $758,043 @ 7.0% cap · market cap 12.79%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Property Profile
Location Intelligence
Current Use by Public Records
Apartment buildings
FAQs
What type of property is this?
Apartment building - 36-unit apartment building built in 2014 near Kirkwood Mall.
Where is this apartment building located?
The property is located at 5180 Lincoln Rd Lincoln, ND.
What is the asking price?
The asking price for this property is $5,925,000.
What are key features of this property?
This property features: 36‑unit apartment building built in 2014; High‑traffic location on Lincoln Road, minutes from Kirkwood Mall; Washer and dryer in each unit
