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Property profile & analytics
OFF-MARKET
Estimated value
$770,000
Warehouses
1400 43rd NE Ave Bismarck, ND 58503-6140
Entity Owned
16-yr Hold
~
Est. High Equity
Property ID
US56-0314317
Property profile
Verified
Property type
Warehouses
Use group
MINI-WAREHOUSE, STORAGE
Year built
1997
Total area
7,560 SF
Lot
4.39 ac (191,054 SF)
Zoning code
PUD
APN
1305-001-001
UPID
US56-0314317
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
-
Pure Barre Gym & Fitness Center
-
AJ Wellness Alternative Medicine Practice
-
General Aquatics Consultant
-
MVBodywork Alternative Medicine Practice Spa & Massage Center
-
Sweet Briar Counseling, PLLC Counselor
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$780k
CAP Approach
CAP
$760k
Comparable Approach
Comparable
$869k
Blend (final)
Blend
$770k
Owner & transaction history
Schilling Properties LLC · 16 yrs held
Schilling Properties LLC
since 2010
3 recorded transactions
Zoning & alternative use
PUD · Bismarck, ND
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Retail stores
$980,000
+66.8%
Restaurant
$690,000
+17.4%
Medical building
$655,000
+11.7%
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
$780,000
CAP Approach
CAP Return
Estimation
6%
$825,000
6.5%
$760,000
7%
$705,000
Alternative Use
Use
Estimation
WAREHOUSE, STORAGE
$585,000
Current use
RETAIL STORES
$980,000
Change: +67% · Conversion: Moderate
RESTAURANT
$690,000
Change: +17% · Conversion: Difficult
MEDICAL BUILDING
$655,000
Change: +12% · Conversion: Difficult
INDUSTRIAL (GENERAL)
$650,000
Change: +11% · Conversion: Easy
AUTO REPAIR, GARAGE
$630,000
Change: +8% · Conversion: Easy
NEIGHBORHOOD: SHOPPING CENTER
$545,000
Change: -7% · Conversion: Moderate
Blend value · Realmo final
$770k
Range $693k – $847k · ±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
$102 / 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
$136,225
Tax year 2023
Assessed value
$5,190,650
Assessed 2023
Previous assessed
$4,762,050
+9.0% YoY
Effective rate
2.62%
On assessed value
Assessed land
$662,600
Assessed improvement
$4,528,050
Land market value
$1,325,200
Improvement market value
$9,056,100
Total market value
$10,381,300
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
Warehouses
Use group
MINI-WAREHOUSE, STORAGE
Status
Off-Market
Year built
1997
Total area
7,560 SF
Lot
4.39 ac (191,054 SF)
Zoning code
PUD
APN
1305-001-001
UPID
US56-0314317
Jurisdiction
BURLEIGH
Zoning & alternative use
PUD · Bismarck, ND
Zoning PUD · permitted uses
PUD · 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
WAREHOUSE, STORAGE Current
Est. value
$585,000
RETAIL STORES
Est. value
$980,000
RESTAURANT
Est. value
$690,000
MEDICAL BUILDING
Est. value
$655,000
INDUSTRIAL (GENERAL)
Est. value
$650,000
AUTO REPAIR, GARAGE
Est. value
$630,000
NEIGHBORHOOD: SHOPPING CENTER
Est. value
$545,000
WAREHOUSE, STORAGE Current
RETAIL STORES
RESTAURANT
MEDICAL BUILDING
INDUSTRIAL (GENERAL)
AUTO REPAIR, GARAGE
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
1997
Lot
4.39 ac
Current owner
From public records · entity-resolved
Schilling Properties LLC
Entity
Mailing address
1400 43RD AVE NE STE #400, BISMARCK, ND 58503-6192
Ownership since
2010
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
3 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Nov 3, 2021
—
Schilling Properties LLC
—
Deed
related
$10,640,089 · First Community Cu
Nov 9, 2016
—
Schilling Properties LLC
—
Deed
related
$9,959,300 · Cornerstone Bank
Jan 27, 2010
—
Schilling Properties LLC
Schilling Harvey
Quit Claim 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.
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