1409 Lockheed Dr Bismarck, ND 58504

This exceptional 1,760-square-foot shop condo in Bismarck, North Dakota, presents a compelling investment opportunity. Built in 2023, this two-story property boasts a desirable mix of uses, including a spacious shop area (32x40), a 10x40 loft, a fully tiled bathroom, and a professional office complete with mail delivery capabilities. The property features a 14x14 overhead door with remote opener, 16-foot ceilings, bright LED lighting, a decorative ceiling fan, on-demand water heater, keyless entry, video doorbell, and a surveillance system. All floors are finished. The unit includes three parking spaces and benefits from a convenient location near the expressway, offering easy access to major transportation routes. Currently 100% occupied since August 4, 2024, generating a substantial net operating income (NOI) of $26,400 annually, representing an 8.46% cap rate. The asking price is $312,000 ($177.27/sq ft). The HOA fee of $100 per month covers exterior maintenance, insurance, snow removal, dumpsters, exterior security, and water/sewer. Zoned for light industrial use, this versatile property is ideal for a variety of businesses, storage, or private use. USPS lockers are conveniently located on-site. The property is situated at 1409 Lockheed Dr, Bismarck, ND 58504, within Burleigh County. This is a stabilized investment with a modified lease and single tenancy.