New search
Property profile & analytics
FOR SALE
Office Spaces
1237 W Divide Ave Bismarck, ND 58501
Entity Owned
Absentee Owner
~
Est. High Equity
Property ID
US56-0132685
For Sale
1 / 26
$9,950,000
1237 W Divide Ave, Bismarck, ND 58501
View Listing →
Property profile
Verified
Property type
Office Spaces
Use group
OFFICE (GENERAL)
Year built
1980
Total area
48,661 SF
Lot
4.91 ac (214,010 SF)
Zoning code
CG
APN
0821-001-050
UPID
US56-0132685
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
-
Hay Lisa Physician Medical Clinic
-
Roger A. Larson, PsyD Physician Medical Clinic
-
Timpe Charlene Medical Clinic
-
Vocational Rehabilitation Medical Clinic
-
Human Service Center Social Service Agency Charitable Organization
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
$5.62M
Comparable Approach
Comparable
$8.56M
Blend (final)
Blend
$6.89M
Owner & transaction history
CAPITOL LANES PLAZA
CAPITOL LANES PLAZA
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%
$6,090,000
6.5%
$5,620,000
7%
$5,220,000
Alternative Use
Use
Estimation
COMMERCIAL (GENERAL)
$7,245,000
Current use
RETAIL STORES
$7,150,000
Change: -1% · Conversion: Easy
NEIGHBORHOOD: SHOPPING CENTER
$6,700,000
Change: -8% · Conversion: Difficult
Blend value · Realmo final
$6.89M
Range $6.20M – $7.57M · ±10%
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
$141 / 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
$113,255
Tax year 2023
Assessed value
$4,334,600
Assessed 2023
Previous assessed
$3,976,700
+9.0% YoY
Effective rate
2.61%
On assessed value
Assessed land
$832,000
Assessed improvement
$3,502,600
Land market value
$1,664,000
Improvement market value
$7,005,200
Total market value
$8,669,200
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
For Sale
Year built
1980
Total area
48,661 SF
Lot
4.91 ac (214,010 SF)
Zoning code
CG
APN
0821-001-050
UPID
US56-0132685
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
$7.2M
RETAIL STORES
Est. value
$7.2M
NEIGHBORHOOD: SHOPPING CENTER
Est. value
$6.7M
COMMERCIAL (GENERAL) Current
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
1980
Lot
4.91 ac
Current owner
From public records · entity-resolved
CAPITOL LANES PLAZA
Individual
Mailing address
533 PORTAGE DR, BISMARCK, ND 58503-0266
Mailing matches property
Different — outreach signal
Owner-occupied
No
Ownership since
—
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
No recorded transactions
No recorded transactions found for this property.
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.
