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Property profile & analytics
OFF-MARKET
Estimated value
$3,190,000
Office Spaces
1300 Elbowood Ln Bismarck, ND 58503-5712
Individually Owned
Absentee Owner
Free & Clear
Property ID
US56-0022564
Property profile
Verified
Property type
Office Spaces
Use group
OFFICE (GENERAL)
Year built
2017
Total area
25,831 SF
Lot
17.09 ac (744,658 SF)
Zoning code
CG
APN
2280-002-002
UPID
US56-0022564
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
$2.99M
Comparable Approach
Comparable
$2.62M
Blend (final)
Blend
$3.19M
Owner & transaction history
THREE AFFILIATED TRIBES
THREE AFFILIATED TRIBES
Zoning & alternative use
CG · Bismarck, ND
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Retail stores
$4.6M
+12.4%
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%
$3,230,000
6.5%
$2,985,000
7%
$2,770,000
Alternative Use
Use
Estimation
COMMERCIAL (GENERAL)
$4,050,000
Current use
RETAIL STORES
$4,555,000
Change: +12% · Conversion: Easy
INDUSTRIAL (GENERAL)
$3,740,000
Change: -8% · Conversion: Moderate
NEIGHBORHOOD: SHOPPING CENTER
$3,555,000
Change: -12% · Conversion: Difficult
Blend value · Realmo final
$3.19M
Range $2.87M – $3.51M · ±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
$123 / 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
$170,432
Tax year 2023
Assessed value
$6,257,600
Assessed 2023
Previous assessed
$5,740,900
+9.0% YoY
Effective rate
2.72%
On assessed value
Assessed land
$1,610,250
Assessed improvement
$4,647,350
Land market value
$3,220,500
Improvement market value
$9,294,700
Total market value
$12,515,200
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
Off-Market
Year built
2017
Total area
25,831 SF
Lot
17.09 ac (744,658 SF)
Zoning code
CG
APN
2280-002-002
UPID
US56-0022564
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
$4.1M
RETAIL STORES
Est. value
$4.6M
INDUSTRIAL (GENERAL)
Est. value
$3.7M
NEIGHBORHOOD: SHOPPING CENTER
Est. value
$3.6M
COMMERCIAL (GENERAL) Current
RETAIL STORES
INDUSTRIAL (GENERAL)
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
2017
Lot
17.09 ac
Current owner
From public records · entity-resolved
THREE AFFILIATED TRIBES
Individual
Free & Clear · 0 yrs held
Mailing address
404 FRONTAGE RD, NEW TOWN, ND 58763-9404
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.
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“Is 15.6% cap rate sustainable?” · “Best tenant mix for BU1?” · “What’s the redev upside?”
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