Industrial Flex Shop
For Sale
$475,000
6609 Rubicon Rd Unit 2, Bismarck, ND 58504
Newly planned shop condominium with heavy industrial zoning, flexible layouts, radiant heat, and oversized vehicle access.
Property Size2,400 SF
Price / SF$197.92
Days on Market15
Property Features for 6609 Rubicon Rd Unit 2
General Information
Standard status
Active
Size
2,400 SF
Zoning
Heavy Industrial
Additional Details
Three-Phase Power
Yes
Building Details
Year Built
2025
Listing Agency:
Realty One Group - Encore
(701) 934-3757
Listed By:
Caylee Krein
Source:
Corerealestateadvisors
Added: Aug 16
Changed: Aug 30
Last Checked: Aug 30 at 7:38PM
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 2,400-square-foot flex shop condominium is planned for a heavy industrial-zoned property and can be configured around operational requirements. Standard units measure 30 feet wide by 80 feet deep, with expansion in 30-foot increments up to 120 feet wide. Demising walls may be removed to create larger open areas, and the units are build-to-suit. Each space includes a 16-foot-wide by 18-foot-tall garage door, 20-foot sidewalls, radiant heat, and standard electrical service. Three-phase power can be added at the buyer’s cost; cooling is not included.
Midco fiber optic internet is available, while the property is served by septic. Water and snow removal are provided through the HOA, with HOA terms still to be determined. Outdoor storage or additional parking may be available separately, subject to availability. The property is offered for sale or lease, with a two-year minimum lease term and five-year term preferred. Construction is expected to begin in April or May 2026, with move-in readiness anticipated in July or August 2026.
Midco fiber optic internet is available, while the property is served by septic. Water and snow removal are provided through the HOA, with HOA terms still to be determined. Outdoor storage or additional parking may be available separately, subject to availability. The property is offered for sale or lease, with a two-year minimum lease term and five-year term preferred. Construction is expected to begin in April or May 2026, with move-in readiness anticipated in July or August 2026.
Key Highlights
- 2,400 SF shop condominium with flexible build‑to‑suit layout options
- Heavy industrial zoning supports industrial‑oriented property use
- Standard unit dimensions are 80' deep by 30' wide
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
$18,772
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
3.95%
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%
$375,440
$375.4K
Cap Rate 7%
$268,171
$268.2K
Cap Rate 9%
$208,578
$208.6K
Market Conditions
NOI Build-Up for 2,400 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
$33.1K $13.80/SF
− Vacancy
−$4.2K −$1.77/SF
EGI
$28.9K $12.03/SF
− OpEx
−$10.1K −$4.21/SF
NOI
$18.8K $7.82/SF
Area
Burleigh County, ND
Vacancy
12.80%
Lease Rate
$13.80 /SF/Yr
Expense Ratio
35.00%
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%
$375,440
Cap Rate 7%
$268,171
Cap Rate 9%
$208,578
Alternative Uses
Best Use
Flex RnD
$268.2K
$234.7K – $312.9K
NOI $18,772 @ 7.0% cap · market cap 3.95%
Second Best
Industrial
$146.5K
$128.2K – $170.9K
NOI $10,256 @ 7.0% cap · market cap 2.16%
Theoretical Best
Office A
$571.1K
$499.7K – $666.3K
NOI $39,979 @ 7.0% cap · market cap 8.42%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
2
Businesses Nearby
Well-served
Demand for This Use
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
Market
Vacancy Rate% for Industrial in Midwest region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Flex space - Newly planned shop condominium with heavy industrial zoning, flexible layouts, radiant heat, and oversized vehicle access.
Where is this flex space located?
The property is located at 6609 Rubicon Rd Unit 2 Bismarck, ND.
What is the asking price?
The asking price for this property is $475,000.
What are key features of this property?
This property features: 2,400 SF shop condominium with flexible build‑to‑suit layout options; Heavy industrial zoning supports industrial‑oriented property use; Standard unit dimensions are 80' deep by 30' wide
