Historic Commercial Building For
For Sale
Contact for pricing
200 E Main Ave, Bismarck, ND 58501
Three-story commercial building with updated finishes and abundant natural light.
Property Size12,922 SF
Price / SF$99.52
Days on Market816
Property Features for 200 E Main Ave
General Information
Standard status
Active
Size
12,922 SF
Property subtype
Mixed Use, Office, Retail
Zoning
DC - CORE ZONING DISTRICT
Occupancy
100%
Building Details
Year Built
1880
Buildings
1
Stories
3
Tenancy
Multi
Listing Agency:
Aspen Group LLP
(701) 223-2450
Listed By:
Michael Ilse · License #ND 8214
Source:
Crexi
Added: Jun 5, 2024
Changed: Aug 25
Last Checked: Aug 29 at 7:52AM
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 historic three-story commercial building is available for sale in Downtown Bismarck. The property features updated and modern finishes. A new roof has been installed. Large windows provide abundant natural light throughout the space. The building's total size is 12,922 square feet.
Key Highlights
- Historic commercial building in downtown Bismarck
- Updated & modern finishes
- New roof
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
$97,012
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
7.54%
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%
$1,940,240
$1.9M
Cap Rate 7%
$1,385,886
$1.4M
Cap Rate 9%
$1,077,911
$1.1M
Market Conditions
NOI Build-Up for 12,922 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
$170.6K $13.20/SF
− Vacancy
−$15.4K −$1.19/SF
EGI
$155.2K $12.01/SF
− OpEx
−$58.2K −$4.50/SF
NOI
$97.0K $7.51/SF
Area
Burleigh County, ND
Vacancy
9.00%
Lease Rate
$13.20 /SF/Yr
Expense Ratio
37.50%
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%
$1,940,240
Cap Rate 7%
$1,385,886
Cap Rate 9%
$1,077,911
Alternative Uses
Best Use
Office B
$2.40M
$2.10M – $2.80M
NOI $167,832 @ 7.0% cap · market cap 13.05%
Second Best
Retail
$2.39M
$2.09M – $2.78M
NOI $167,042 @ 7.0% cap · market cap 12.99%
Theoretical Best
Office A
$3.08M
$2.69M – $3.59M
NOI $215,251 @ 7.0% cap · market cap 16.74%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
2,762
Businesses Nearby
Explore this area
Business Placement
Demographics for 58501, ND
28,388
Population
13,445
Households
2.1
Avg Household Size
38
Median Age
35%
College-Educated
95%
High-School Grad
22.8 sq mi
ZIP Area
1,245
Density / Sq Mi
$69,796
Median Household Income
$45,237
Median Earnings
$938
Median Rent
$276,000
Median Home Value
Market
Vacancy Rate% for Office 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?
Mixed-use property - Three-story commercial building with updated finishes and abundant natural light.
Where is this mixed-use property located?
The property is located at 200 E Main Ave Bismarck, ND.
What is the asking price?
The asking price for this property is $1,286,000.
What are key features of this property?
This property features: Historic commercial building in downtown Bismarck; Updated & modern finishes; New roof
