Flex Space with Outdoor
For Sale
$379,000
D-1416 Burlington Dr, Bismarck, ND 58504
Climate-controlled layout combines a front office, shop area, loft, and secured fenced storage.
Property Size2,105 SF
Price / SF$180.05
Days on Market197
Property Features for D-1416 Burlington Dr
General Information
Standard status
Active
Size
2,105 SF
Site & Location
Fenced Yard
Yes
Outdoor Storage
Yes
Warehouse & Industrial
Drive-In Doors
2
Conditioned Warehouse
Yes
Taxes and HOA fees
Annual Taxes
$7,513
Building Details
Stories
2
Listing Agency:
Capital Real Estate Partners
(701) 955-4189
Listed By:
Desri Neether · License #8844
(701) 955-4189
Source:
Exprealty
Added: Feb 14
Changed: Aug 30
Last Checked: Aug 30 at 4:52AM
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 Capital Real Estate Partners
Investment Insights
Based on property information with market context.
This flex space pairs an 1,800-square-foot shop with a 305-square-foot second-story loft and a dedicated front office. The office connects directly to the main work area, while dual 14-foot garage doors at the front and rear support loading and vehicle movement. Climate control includes heat and A/C, with a separate mechanical room and half bath adding practical functionality. The loft can serve as supplementary workspace or storage.
A 1,357.50-square-foot secured, fenced outdoor area provides additional room for tools, trailers, inventory, or equipment. The property also includes parking for visitors and work vehicles. Located at D-1416 Burlington Dr in Bismarck, ND, the shop condo offers a combination of indoor operations, office space, and secured exterior storage.
A 1,357.50-square-foot secured, fenced outdoor area provides additional room for tools, trailers, inventory, or equipment. The property also includes parking for visitors and work vehicles. Located at D-1416 Burlington Dr in Bismarck, ND, the shop condo offers a combination of indoor operations, office space, and secured exterior storage.
Key Highlights
- 1,800 SF climate‑controlled shop with heat and A/C
- 305 SF second‑story loft for storage or workspace
- 1,357.50 SF secured outdoor fenced storage area
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
$16,465
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
4.34%
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%
$329,300
$329.3K
Cap Rate 7%
$235,214
$235.2K
Cap Rate 9%
$182,944
$182.9K
Market Conditions
NOI Build-Up for 2,105 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
$29.0K $13.80/SF
− Vacancy
−$3.7K −$1.77/SF
EGI
$25.3K $12.03/SF
− OpEx
−$8.9K −$4.21/SF
NOI
$16.5K $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%
$329,300
Cap Rate 7%
$235,214
Cap Rate 9%
$182,944
Alternative Uses
Best Use
Flex RnD
$235.2K
$205.8K – $274.4K
NOI $16,465 @ 7.0% cap · market cap 4.34%
Second Best
Warehouse
$148.7K
$130.1K – $173.4K
NOI $10,406 @ 7.0% cap · market cap 2.75%
Theoretical Best
Office A
$500.9K
$438.3K – $584.4K
NOI $35,065 @ 7.0% cap · market cap 9.25%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
2
Drive-in doors
Yes
Fenced yard
Location Intelligence
Trade Area within ½ mile
532
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
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Similar Off Market Nearby
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Frequently Asked Questions
What type of property is this?
Flex space - Climate-controlled layout combines a front office, shop area, loft, and secured fenced storage.
Where is this flex space located?
The property is located at D-1416 Burlington Dr Bismarck, ND.
What is the asking price?
The asking price for this property is $379,000.
What are key features of this property?
This property features: 1,800 SF climate‑controlled shop with heat and A/C; 305 SF second‑story loft for storage or workspace; 1,357.50 SF secured outdoor fenced storage area
