Add Listing
    Property Lookup
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    505 Main Ave Bismarck, ND 58501

    Property Lookup

    Back to Search
    The Largest CRE Database in the US with Over 1 Million Listings
    Property profile & analytics

    505 Main Ave Bismarck, ND 58501

    View on Map
    • Office properties & Spaces
    Off-Market
    Value Estimations
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Travis Alexander Dahl - Ameriprise Financial Services, LLC / Financial Advisor
    • Cory McLindsay / Real Estate Agency
    • Nicole DeKrey Real Estate / Real Estate Agency
    • Venture Real Estate / Real Estate Agency
    • HTG Architects / Architect

    Property Details for 505 Main Ave

    Property type
    Office properties & Spaces

    Description

    This exceptional Bismarck, ND office building at 505 E Main Ave offers 3,812 rentable square feet (3,434 usable square feet) of traditional office space. The property boasts ten private offices, a spacious lobby, multiple conference rooms, a dedicated copier/mail room, ample storage, a large break room with kitchen facilities, a media room, and multi-stall restrooms. Enjoy spectacular views from every office, benefiting from high visibility at the corner of Main Ave and 5th St, with convenient front door parking in private lots. Additional amenities include basement storage and a parking attendant. The building is situated in a prime downtown East Main Ave location, experiencing a daily traffic count of 14,545 vehicles. Lease rates are $18 per square foot in year one, increasing to $19 in year two and $20 in year three. Tenants are responsible for electricity only.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

    Location Insight

    • Map
    • Local Demand
    City
    Bismarck
    County
    Burleigh
    State
    North Dakota
    Longitude
    -100.784
    Latitude
    46.8052

    Comparable in this City

    • Value Estimation by Request
      1,050 SF

      225 Rosser Ave

      OFFICE (GENERAL) • 1,050 SF
      225 Rosser Ave, Bismarck, ND 58501-3755
      View Details
    • Value Estimation
      $1,075,000
      15,468 SF

      701 Rosser Ave, Unit 2

      OFFICE (GENERAL) • 15,468 SF
      701 Rosser Ave, Bismarck, ND 58501-4457
      View Details
    • Value Estimation
      $1,265,000
      10,275 SF

      1800 Commerce Dr

      OFFICE (GENERAL) • 10,275 SF
      1800 Commerce Dr, Bismarck, ND 58501-2514
      View Details
    • Value Estimation by Request
      5,212 SF

      7888 Belaire Dr

      OFFICE (GENERAL) • 5,212 SF
      7888 Belaire Dr, Bismarck, ND 58501-8562
      View Details
    • Value Estimation by Request
      0.56 Acres

      400 4th St

      OFFICE (GENERAL) • 0.56 Acres
      400 4th St, Bismarck, ND 58501-4022
      View Details
    • Value Estimation by Request
      0.64 Acres

      220 5th St

      OFFICE (GENERAL) • 0.64 Acres
      220 5th St, Bismarck, ND 58501-4027
      View Details

    Similar Nearby for Sale

    • $1,900,000
      26,936 SF

      City Center Plaza: Bismarck Office Building

      Downtown Bismarck Office Building - Value-Add Opportunity
      418 Broadway Ave, Bismarck, ND 58501
      View Details
    • Contact for pricing
      12,922 SF

      Historic Commercial Building For Sale

      Three-story commercial building with updated finishes and abundant natural light.
      200 E Main Ave, Bismarck, ND 58501
      View Details
    • $979,900
      3,880 SF

      Bismarck Executive Office Building

      Downtown Bismarck, 3880 sq ft, $979,900
      421 4Th St, Bismarck, ND 58501
      View Details
    • Contact for pricing
      3,582 SF

      Former Kennel in North Bismarck

      Former kennel with office, potential for shop use.
      1821 Commerce Dr, Bismarck, ND 58501
      View Details
    • $979,900
      3,880 SF

      Versatile Office/Medical Building For Sale

      3,880 SF building ideal for office or medical use.
      421 N 4Th St, Bismarck, ND 58501
      View Details
    • $1,890,000

      Bismarck Investment Shop Condos

      Fully leased commercial property near Walmart and Sam's Club.
      2908 Morrison Ave, Bismarck, ND 58501
      View Details

    Similar Nearby for Lease

    • $13 SF/Yr
      3,880 SF

      Downtown Bismarck Office Building

      Prime Bismarck Office, Drive-Thru, Parking
      421 4Th St, Bismarck, ND 58501
      View Details
    • Contact for pricing

      Downtown Office Suites For Lease

      Downtown office suites with amenities and convenient parking.
      418 E Broadway Ave, Bismarck, ND 58501
      View Details
    • Contact for pricing

      Downtown Office Space Available

      Renovated office space with parking in downtown Bismarck.
      418 E Rosser Ave, Bismarck, ND 58501
      View Details
    • Contact for pricing
      5,223 SF

      Downtown Office Space Available

      5,223 SF office space in downtown Bismarck for lease.
      200 N 3Rd St, Bismarck, ND 58501
      View Details
    • $9 SF/Yr
      1,680 SF

      Downtown Office Suites For Rent

      Professional office suites in downtown Bismarck's central business district.
      107 W Main Ave, Bismarck, ND 58501
      View Details
    • $2,000 /Mo

      Remodeled Downtown Commercial Space Available

      Recently remodeled commercial space in a historic downtown building.
      401 East Broadway Ave, Bismarck, ND 58501
      View Details
    Request Owner's contact information
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    505 Main Ave
    Bismarck, ND 58501
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!