Entity Owned Property summary
This exceptional mixed-use property, located at 118 S 3rd Street in Bismarck, North Dakota, presents a unique investment opportunity. The 95,388 square foot lot, zoned DC - CORE ZONING DISTRICT, offers over two acres of land for redevelopment. Currently featuring a 11,275 square foot, two-story building formerly used as a bar and restaurant, the property boasts significant potential for various development projects. The asking price is $2,790,000, translating to $247.45 per square foot. Built in 1898, the existing structure provides a solid foundation for adaptive reuse or demolition to make way for new construction. The Downtown Core Zoning District encourages mixed-use development, enhancing the pedestrian-oriented nature of Bismarck's city center. Possible development options include multi-family housing, entertainment venues, office spaces, retail establishments, community services, or green spaces. This property's central location and flexible zoning make it an ideal investment for developers seeking a high-impact project in a thriving downtown area. The property's rich history and prime location combine to create a truly unique opportunity in the heart of Bismarck.
Property profile
VerifiedCap rate & NOI
Current use
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Big Box & Wholesale Store Building Supply
Location
Value estimations
Owner & transaction history
Zoning & alternative use
commercial message. The following provisions must be met only in the DC - Downtown Core and DF - Downtown Fringe zoning districts: i. All Downtown Design Review procedures shall be followed for any installation of public…
Comparables
6 recent transactions · within 1.5 miComparable in this City
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Value estimation
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Cap rate
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Price sensitivity
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Property tax & assessments
Tax year 2023Property description
Physical attributes from public recordsZoning & alternative use
DC · Bismarck, NDcommercial message. The following provisions must be met only in the DC - Downtown Core and DF - Downtown Fringe zoning districts: i. All Downtown Design Review procedures shall be followed for any installation of public…
Zoning
The recorded zoning designation, what the district officially allows, and the municipal source it comes from.
Zoning designation
Official district profile
commercial message. The following provisions must be met only in the DC - Downtown Core and DF - Downtown Fringe zoning districts: i. All Downtown Design Review procedures shall be followed for any installation of public…
What can be built and operated here — officially.
The district profile from the municipal source: what is on file for DC in Bismarck, ND.
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