1409 Lockheed Dr 16 Bismarck, ND 58504
Move-in ready shop condo with modern amenities and flexible usage.
Property Features for 1409 Lockheed Dr 16
General Information
- Standard status
- Active
- Size
- 2,000 SF
- Property subtype
- Industrial
Building Details
- Year Built
- 2023
Listing office Black Star Realty (701) 805-1144
Listing date May 11, 2024
Source Crexi
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Investment Insights
Based on property information with market context.
Key Highlights
- Move‑in ready, upgraded 2000 sq.ft. shop condo with two levels.
- Features include heat, AC, tile shower, on‑demand hot water, floor drain, laundry, and welder power.
- Large 14x14 door with remote opener and 16 ft ceiling, the high ceiling space (20x30) accommodates semi‑trucks, campers, and boats.
Local Financial Insights For Flex RnD
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 | $27.6k | $13.80 |
| − Vacancy | −$3.5k | −$1.77 |
| EGI | $24.1k | $12.03 |
| − OpEx | −$8.4k | −$4.21 |
| NOI | $15.6k | $7.82 |