Back to Search
Property profile & analytics
FOR LEASE
Hotels
114 N 3Rd St Bismarck, ND 58501
Entity Owned
6-yr Hold
~
Est. High Equity
Property ID
US56-0125731
For Lease
1 / 2
$9 SF/Yr
114 N 3Rd St, Bismarck, ND 58501
View Listing →
Property profile
Verified
Property type
Hotels
Use group
HOTEL/MOTEL
Year built
1914
Total area
35,413 SF
Lot
0.24 ac (10,500 SF)
Zoning code
DC
APN
0001-052-010
UPID
US56-0125731
Cap rate & NOI
Priority signal for investors
Implied cap rate, NOI & suggested price
Cap rate vs submarket · NOI estimate · 3 price anchors
Implied cap rate, NOI & suggested price
Cap vs submarket · NOI estimate · 3 price anchors
Current use
Occupant on record · Public records
-
Sunrise Apartments Apartment Building
-
Adolfson & Peterson Construction Construction Company
-
114 On 3rd Apartment Building
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$1.82M
CAP Approach
CAP
by Request
Comparable Approach
Comparable
by Request
Blend (final)
Blend
$1.48M
Owner & transaction history
Transition Florida LLC · 6 yrs held
Transition Florida LLC
since 2020
Last sale
$1.3M
7 recorded transactions
Zoning & alternative use
DC · Bismarck, ND
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Cap rate
Implied · in-place · derived from last sale + estimated NOI
Implied Cap rate
#1
Implied · in-place · NOI ÷ last sale
In-place · derived from last sale + estimated NOI
Cap rate, NOI & submarket benchmark
Implied cap rate vs Bismarck submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Bismarck submarket · NOI estimate · typical band, median & reading
Refine your cap rate
8-question underwriting flow
1.
Property current status — Going-In vs Stabilized
2.
Price for denominator — asking / offer / market
3.
Leasing status & lease structure (NNN / Gross)
4.
Tenant risk profile & vacancy assumption
5.
Upload T12 / rent roll / OM (optional)
Refine in 60 seconds, get exact suggested price
T12 upload · Submarket benchmarks · Sensitivity grid
Suggested price · 3 cap rate anchors
Income approach @ 5% / 7% / 9% — aggressive / typical / conservative
Suggested price at 5% / 7% / 9% cap
Aggressive / typical / conservative · Implied $/SF per anchor · Sensitivity grid
Suggested price at 5% / 7% / 9% cap
Aggressive / typical / conservative · implied $/SF · sensitivity
Value
AI, CAP & Alternative Use estimations · Realmo proprietary blendValue Estimations
Based on Realmo’s proprietary methodology
AI Approach
Method
Estimation
Statistic approach
$1,590,000
ML approach
$1,820,000
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
HOTEL/MOTEL
$1,980,000
Current use
Blend value · Realmo final
$1.48M
Range $1.33M – $1.63M · ±10% · vs last sale $1.25M (Jul 1 2020)
Last sale anchor
$1.25M
Jul 1 2020
Realmo estimate · informational only.
These numbers are calculated by our models from public records and may not reflect actual market value.
Not an appraisal.
Verify with a licensed appraiser before transacting. Realmo accepts no liability for divergence from real-world outcomes.
View the full estimation — every method, every assumption
Confidence drivers & risk notes · Custom comparable set · Free for first 3 / day
Full estimation methodology
Every method · every assumption · confidence drivers
Price per SF
Sale + rent benchmarks
Subject property
$42 / SF
Submarket sale & rent benchmarks
Median sale $/SF · Asking & closed rent · Submarket vacancy
Submarket sale & rent benchmarks
Median sale $/SF · asking & closed rent · submarket vacancy
Property tax & assessments
Tax year 2023Property tax & assessments
Tax year 2023
Tax billed
$2,287
Tax year 2023
Assessed value
$82,450
Assessed 2023
Previous assessed
$573,900
-85.6% YoY
Effective rate
2.77%
On assessed value
Assessed land
$82,450
Land market value
$164,900
Total market value
$164,900
Comparables
6 recent transactions · within 1.5 miComparable in this city
6 recent transactions
Comparable in this City
Similar Nearby for Sale
Similar Nearby for Lease
Recent comparable sales
Sale price & price/SF · Sale date & distance · Adjustments & confidence
Recent comparable sales
Sale price & $/SF · sale date & distance · adjustments
Property description
Physical attributes from public recordsBuilding & lot
Public records
Property type
Hotels
Use group
HOTEL/MOTEL
Status
For Lease
Year built
1914
Total area
35,413 SF
Lot
0.24 ac (10,500 SF)
Zoning code
DC
APN
0001-052-010
UPID
US56-0125731
Jurisdiction
BURLEIGH
Zoning & alternative use
DC · Bismarck, ND
Zoning DC · permitted uses
DC · Bismarck, ND
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Bismarck. Always verify with local authorities before improvements.
Alternative use value scenarios
Repositioning upside vs current use
HOTEL/MOTEL Current
Est. value
$2.0M
HOTEL/MOTEL Current
Alternative use deep dive — conversion cost, permits, timeline
Conversion cost estimate · Permit path & risks · Stabilized NOI per option
Alternative use deep dive
Conversion cost · permit path · stabilized NOI per option
Building & site characteristics
From public records
Year built
1914
Lot
0.24 ac
Current owner
From public records · entity-resolved
Transition Florida LLC
Entity
Mailing address
360 32ND AVE W APT #505, WEST FARGO, ND 58078-2947
Ownership since
2020
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
7 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Jul 21, 2022
—
Transition Floria LLC
—
Deed
related
$724,975 · Capital Cu
Feb 23, 2022
—
Transition Florida LLC
—
Deed
related
$425,500 · Capital Cu
Jul 1, 2020
$1,250,000
Transition Florida LLC
114 On 3rd LLC
Warranty Deed
$1,101,776 · Capital Cu
Sep 13, 2017
—
114 On 3rd LLC
—
Deed
related
$4,000,000 · Capital Cu
Dec 9, 2016
—
114 On 3rd LLC
—
Deed
related
$3,500,000 · Capital Cu
Oct 7, 2010
$475,000
Grandmas House LLC
114 N 3rd St LLC
Warranty Deed
$380,000 · American Bank Center
Mar 18, 2008
—
114 N 3rd Street LLC
Mandan Properties LLC
Special Warranty Deed
—
Coming soon
Costs & Benchmarks
Operating expenses, capex projections, utility benchmarks, and submarket comparables — all in one view.
Coming soon
Risks
Flood, climate, environmental, title, and tenant-concentration risk — surfaced with mitigations and source citations.
Try Rey
Ask anything about this address in plain English.
“Is 15.6% cap rate sustainable?” · “Best tenant mix for BU1?” · “What’s the redev upside?”
Full reports are paid
Unlock the full Property Analytics report
Start free for 7 days — no card required. Full owner contacts, all 4 valuations with methodology, refine flow, comparable adjustments, foot-traffic deep dive, export to PDF / CSV.
