Flex Space with Detailing
New
For Sale
$599,500
7107 N 19th St Unit 106, Bismarck, ND 58503
Recently built commercial space with a finished loft, vehicle detailing setup, dedicated wash area, and specialized shop improvements.
Property Size2,600 SF
Lot Size0.17 Acres
Price / SF$230.58
Days on Market2
Property Features for 7107 N 19th St Unit 106
General Information
Standard status
Active
Size
2,600 SF
Lot size
0.17 Acres
Property subtype
Industrial
Additional Details
Asking Price
$599,500
Amenities
Full Bathroom with Shower & Laundry
Security System with Remote Access
Lutron Controlled Lighting
Central Vacuum System
Full HVAC with 2 Zones
2nd Floor Loft with Office
Building Details
Building Size
2,600 SF
Year Built
2023
Buildings
1
Stories
2
Listing Agency:
Rise Property Brokers
(701) 400-4445
Listed By:
Jon Lee · License #ND #11237
Source:
Risepropertybrokers
Added: Aug 13
Changed: Aug 14
Last Checked: Aug 14 at 5:12AM
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 Rise Property Brokers
Investment Insights
Based on property information with market context.
This 2,600 SF flex property, built in 2023, combines a finished work area with a second-floor loft and office. The facility includes a full bathroom with shower and laundry, two-zone HVAC, a second work sink, storage beneath the stairs, a welding outlet, professionally coated garage flooring, and a central vacuum system. Security features include an alarm, remote-access cameras, smoke detectors, and water sensors. The sale excludes the golf/shooting simulator, cabinets, and air compressor.
The dedicated vehicle detailing area includes a wash station, countertop workspace, 20' slot drain, built-in pressure washer, spot-free water treatment, bucket filler, dehumidifier, air exchanger, and two large fans. The finished loft provides a separate HVAC zone, mechanical room, and office, supporting a range of flex-space and shop functions.
The dedicated vehicle detailing area includes a wash station, countertop workspace, 20' slot drain, built-in pressure washer, spot-free water treatment, bucket filler, dehumidifier, air exchanger, and two large fans. The finished loft provides a separate HVAC zone, mechanical room, and office, supporting a range of flex-space and shop functions.
Key Highlights
- 2,600 SF building on a 0.17‑acre lot
- Built in 2023
- Dedicated vehicle detailing area with wash station and 20' slot drain
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
$33,610
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
5.61%
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%
$672,200
$672.2K
Cap Rate 7%
$480,143
$480.1K
Cap Rate 9%
$373,444
$373.4K
Market Conditions
NOI Build-Up for 2,600 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
$49.3K $18.96/SF
− Vacancy
−$1.3K −$0.49/SF
EGI
$48.0K $18.47/SF
− OpEx
−$14.4K −$5.54/SF
NOI
$33.6K $12.93/SF
Area
Burleigh County, ND
Vacancy
2.60%
Lease Rate
$18.96 /SF/Yr
Expense Ratio
30.00%
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%
$672,200
Cap Rate 7%
$480,143
Cap Rate 9%
$373,444
Alternative Uses
Best Use
Retail
$480.1K
$420.1K – $560.2K
NOI $33,610 @ 7.0% cap · market cap 5.61%
Second Best
Flex RnD
$290.5K
$254.2K – $339.0K
NOI $20,337 @ 7.0% cap · market cap 3.39%
Theoretical Best
Office A
$618.7K
$541.4K – $721.8K
NOI $43,310 @ 7.0% cap · market cap 7.22%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
28
Businesses Nearby
Well-served
Demand for This Use
Explore this area
Business Placement
Demographics for 58503, ND
37,157
Population
15,997
Households
2.3
Avg Household Size
39
Median Age
48%
College-Educated
96%
High-School Grad
135.6 sq mi
ZIP Area
274
Density / Sq Mi
$105,108
Median Household Income
$60,058
Median Earnings
$1,131
Median Rent
$383,300
Median Home Value
Market
Vacancy Rate% for Industrial in Midwest region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Flex space - Recently built commercial space with a finished loft, vehicle detailing setup, dedicated wash area, and specialized shop improvements.
Where is this flex space located?
The property is located at 7107 N 19th St Unit 106 Bismarck, ND.
What is the asking price?
The asking price for this property is $599,500.
What are key features of this property?
This property features: 2,600 SF building on a 0.17‑acre lot; Built in 2023; Dedicated vehicle detailing area with wash station and 20' slot drain
