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Property profile & analytics
OFF-MARKET
Estimated value
$1,175,000
Flex space
1341 20th St Bismarck, ND 58504-6966
Individually Owned
9-yr Hold
Absentee Owner
~
Est. High Equity
Property ID
US56-0513788
Property profile
Verified
Property type
Flex space
Use group
LIGHT INDUSTRIAL
Year built
2006
Total area
10,120 SF
Lot
0.77 ac (33,684 SF)
Zoning code
MA
APN
0768-003-065
UPID
US56-0513788
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
-
Little Movements Training Center
-
Goalrobber Hockey Schools Training Center
-
Endeavor Esthetics Alternative Medicine Practice Spa & Massage Center
-
Mark 20 Building - Sports and Leisure Corporate Office
-
Home Instead Home Health Care Service
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
by Request
Blend (final)
Blend
$1.18M
Owner & transaction history
Mark S Swenson · 9 yrs held
Mark S Swenson
since 2017
5 recorded transactions
Zoning & alternative use
MA · Bismarck, ND
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Zoning description
z. Data Center. A data center may be permitted in any MA district as a special use or any MB district as an administrative special use provided: 1. All data processing and storage is contained within a building constructed in compliance with the International Building Code and International Fire Code. 2. Written verification is submitted from the utility pro…
Zone name
Light Industrial
General category
INDUSTRIAL
Zone area
3,534.34 ac
Source
TABLE OF CONTENTS
Top alternative use upside
Commercial (general)
$1.6M
+3.5%
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%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
INDUSTRIAL (GENERAL)
$1,535,000
Current use
COMMERCIAL (GENERAL)
$1,590,000
Change: +3% · Conversion: Difficult
RETAIL STORES
$1,485,000
Change: -3% · Conversion: Moderate
NEIGHBORHOOD: SHOPPING CENTER
$1,395,000
Change: -9% · Conversion: Difficult
Blend value · Realmo final
$1.18M
Range $1.06M – $1.29M · ±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
$116 / 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
$15,217
Tax year 2023
Assessed value
$550,750
Assessed 2023
Previous assessed
$506,000
+8.8% YoY
Effective rate
2.76%
On assessed value
Assessed land
$77,950
Assessed improvement
$472,800
Land market value
$155,900
Improvement market value
$945,600
Total market value
$1,101,500
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
Flex space
Use group
LIGHT INDUSTRIAL
Status
Off-Market
Year built
2006
Total area
10,120 SF
Lot
0.77 ac (33,684 SF)
Zoning code
MA
APN
0768-003-065
UPID
US56-0513788
Jurisdiction
BURLEIGH
Zoning & alternative use
MA · Bismarck, NDZoning MA · permitted uses
MA · Bismarck, ND
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Zoning description
z. Data Center. A data center may be permitted in any MA district as a special use or any MB district as an administrative special use provided: 1. All data processing and storage is contained within a building constructed in compliance with the International Building Code and International Fire Code. 2. Written verification is submitted from the utility provider that sufficient capacity will be available to meet anticipated needs for electrical power. 3. Facilities are equipped with environmental controls to maintain the proper conditions for the operation of electronic equipment. 4. The applicant verifies at the time of application that all requirements of Chapter 8-10 (Noises) of the Bismarck Code of Ordinances will be met during operations, as measured from the property line of the subject parcel. Verification may be in the form of a noise study, manufacturer specifications, data from comparable facilities, or any combination thereof. aa. Agriculture Recreation, Major. Agriculture Recreation, Major may be permitted in any A - Agricultural district as a special use provided: 1. The use is ancillary to the primary agricultural use. 2. The lot in which the use is located is at least thirty -five (35) acres in area. 3. The lot in which the use is located is outside the Urban Service
Zone name
Light Industrial
General category
INDUSTRIAL
Zone area
3,534.34 ac
Source
TABLE OF CONTENTS
Alternative use value scenarios
Repositioning upside vs current use
INDUSTRIAL (GENERAL) Current
Est. value
$1.5M
COMMERCIAL (GENERAL)
Est. value
$1.6M
RETAIL STORES
Est. value
$1.5M
NEIGHBORHOOD: SHOPPING CENTER
Est. value
$1.4M
INDUSTRIAL (GENERAL) Current
COMMERCIAL (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
2006
Lot
0.77 ac
Current owner
From public records · entity-resolved
Mark S Swenson
Individual
Mailing address
6550 UNIVERSITY DR, BISMARCK, ND 58504-9682
Mailing matches property
Different — outreach signal
Owner-occupied
No
Ownership since
2017
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
5 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Feb 21, 2017
—
Mark S Swenson
Raymond J Glasser
Warranty Deed
—
Feb 2, 2017
—
Raymond J Glasser
M Peterson LLC
Quit Claim Deed
related
—
Mar 21, 2007
—
Raymond J Glasser
Raymond Glasser
Warranty Deed
related
$538,000 · Starion Financial
Dec 29, 2006
$120,400
Don Glasser
William Clairmont
Warranty Deed
—
Dec 29, 2006
—
Raymond Glasser
Don Glasser
Warranty Deed
related
—
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
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