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Property profile & analytics
OFF-MARKET
Estimated value
$1,380,000
Office Spaces
117 Frnt Ave Bismarck, ND 58504-5513
Entity Owned
~
Est. High Equity
Property ID
US56-0140165
Property profile
Verified
Property type
Office Spaces
Use group
OFFICE (GENERAL)
Year built
1986
Total area
9,685 SF
Lot
0.6 ac (26,000 SF)
Zoning code
CG
APN
0001-053-001
UPID
US56-0140165
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
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
$1.12M
Comparable Approach
Comparable
$1.40M
Blend (final)
Blend
$1.38M
Owner & transaction history
Piper Group LLC
Piper Group LLC
since 2025
Last sale
$1.8M
4 recorded transactions
Zoning & alternative use
CG · 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
by Request
ML approach
by Request
CAP Approach
CAP Return
Estimation
6%
$1,210,000
6.5%
$1,120,000
7%
$1,040,000
Alternative Use
Use
Estimation
COMMERCIAL (GENERAL)
$1,520,000
Current use
INDUSTRIAL (GENERAL)
$1,470,000
Change: -3% · Conversion: Moderate
RETAIL STORES
$1,425,000
Change: -6% · Conversion: Easy
NEIGHBORHOOD: SHOPPING CENTER
$1,335,000
Change: -12% · Conversion: Difficult
Blend value · Realmo final
$1.38M
Range $1.24M – $1.52M · ±10% · vs last sale $1.80M (Dec 19 2025)
Last sale anchor
$1.80M
Dec 19 2025
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
$142 / 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
$14,983
Tax year 2023
Assessed value
$543,450
Assessed 2023
Previous assessed
$558,450
-2.7% YoY
Effective rate
2.76%
On assessed value
Assessed land
$122,500
Assessed improvement
$420,950
Land market value
$245,000
Improvement market value
$841,900
Total market value
$1,086,900
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
Office Spaces
Use group
OFFICE (GENERAL)
Status
Off-Market
Year built
1986
Total area
9,685 SF
Lot
0.6 ac (26,000 SF)
Zoning code
CG
APN
0001-053-001
UPID
US56-0140165
Jurisdiction
BURLEIGH
Zoning & alternative use
CG · Bismarck, ND
Zoning CG · permitted uses
CG · 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
COMMERCIAL (GENERAL) Current
Est. value
$1.5M
INDUSTRIAL (GENERAL)
Est. value
$1.5M
RETAIL STORES
Est. value
$1.4M
NEIGHBORHOOD: SHOPPING CENTER
Est. value
$1.3M
COMMERCIAL (GENERAL) Current
INDUSTRIAL (GENERAL)
RETAIL STORES
NEIGHBORHOOD: SHOPPING CENTER
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
1986
Lot
0.6 ac
Current owner
From public records · entity-resolved
Piper Group LLC
Entity
Mailing address
PO BOX 2035, BISMARCK, ND 58502-2035
Ownership since
2025
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
4 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Dec 19, 2025
$1,800,000
Piper Group LLC
Douglas Kid Properties LLC
Warranty Deed
$1,440,000 · Dacotah Bank
Dec 3, 2024
—
Douglas Kid Properties LLC
—
Deed
related
$650,000 · First Western Bank & Trust
Mar 22, 2024
—
Douglas Kid Properties LLC
—
Deed
related
$700,000 · First Western Bank & Trust
May 3, 2019
—
Douglas Kid Properties LLC
—
Deed
related
$1,462,000 · Us Bank NA
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.
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