New Construction Shop Condo
For Sale
$475,000
6609 Rubicon Road 2, Bismarck, ND 58504
Brand-new heavy industrial zoned shop condos with radiant heat and oversized garage doors, build-to-suit layouts, and optional unit conjoining.
Property Size2,400 SF
Price / SF$197.92
Days on Market32
Property Features for 6609 Rubicon Road 2
General Information
Standard status
Active
Size
2,400 SF
Property subtype
Commercial
Warehouse & Industrial
Clear Height
20 ft
Heavy Power
Yes
Additional Details
Lease Term
60 months
Outdoor Storage
Yes
Listing Agency:
Realty One Group - Encore
(701) 223-3030
Listed By:
Caylee Krein
Source:
Trademarknd
Added: Jul 24
Changed: Aug 23
Last Checked: Aug 24 at 7:27AM
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.
New construction shop condo warehouses offering flexible, build-to-suit layout options on a heavy industrial-zoned property. Standard units measure 80' deep by 30' wide, with expansion available in 30' increments to create configurations up to 120' wide. Demising walls can be removed to accommodate larger, open unit layouts, and multiple units may be conjoined for bigger footprints. Each unit includes oversized garage doors measuring 16' wide by 18' tall with 20' sidewalls, plus radiant heat. No cooling is provided; three-phase power is available at the buyer’s cost. Midco fiber optic internet is available.
The property is served by septic, with the buyer responsible for pumping. Buyers pay for heat and electricity. Water is included in the HOA, and snow removal is provided. Additional outdoor storage and/or parking may be available for an additional cost, subject to availability. HOA is to be determined. A 2-year minimum lease is required, with a 5-year lease preferred.
Construction is expected to be completed around April/May 2026, with anticipated move-in readiness in July/August 2026. Early inquiries are encouraged to secure preferred unit sizing and customization; contact the listing agent for availability and timelines.
The property is served by septic, with the buyer responsible for pumping. Buyers pay for heat and electricity. Water is included in the HOA, and snow removal is provided. Additional outdoor storage and/or parking may be available for an additional cost, subject to availability. HOA is to be determined. A 2-year minimum lease is required, with a 5-year lease preferred.
Construction is expected to be completed around April/May 2026, with anticipated move-in readiness in July/August 2026. Early inquiries are encouraged to secure preferred unit sizing and customization; contact the listing agent for availability and timelines.
Key Highlights
- Brand‑new heavy industrial‑zoned shop condos available for sale or lease.
- Units are build‑to‑suit with flexible layouts, including ability to conjoin multiple units and remove demising walls for larger footprints.
- Standard unit size is 80' deep by 30' wide, with expansion options in 30' increments up to 120' wide configurations.
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
Warehouse
$169.5K
$148.3K – $197.7K
NOI $11,864 @ 7.0% cap · market cap 2.50%
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
Property Profile
Current Use
Lease Details
20 ft
Clear height
Yes
Heavy power
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 - Brand-new heavy industrial zoned shop condos with radiant heat and oversized garage doors, build-to-suit layouts, and optional unit conjoining.
Where is this flex space located?
The property is located at 6609 Rubicon Road 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: Brand‑new heavy industrial‑zoned shop condos available for sale or lease.; Units are build‑to‑suit with flexible layouts, including ability to conjoin multiple units and remove demising walls for larger footprints.; Standard unit size is 80' deep by 30' wide, with expansion options in 30' increments up to 120' wide configurations.
