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Property profile & analytics
OFF-MARKET
Estimated value
$855,000
Warehouses
1403 Continental Ave Bismarck, ND 58504-6940
Entity Owned
1-yr Hold
~
Est. High Equity
Property ID
US56-0721246
Property profile
Verified
Property type
Warehouses
Use group
MINI-WAREHOUSE, STORAGE
Year built
1993
Total area
8,064 SF
Lot
2.21 ac (96,442 SF)
Zoning code
MA
APN
0995-002-064
UPID
US56-0721246
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
-
CM Enterprises Storage Facility
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
$810k
Comparable Approach
Comparable
$898k
Blend (final)
Blend
$855k
Owner & transaction history
Bnr Prperties LLC · 1 yrs held
Bnr Prperties LLC
since 2024
4 recorded transactions
Zoning & alternative use
MA · Bismarck, ND
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Industrial (general)
$1.0M
+88.4%
Auto repair, garage
$825,000
+48.8%
Restaurant
$815,000
+46.6%
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%
$880,000
6.5%
$810,000
7%
$755,000
Alternative Use
Use
Estimation
WAREHOUSE, STORAGE
$555,000
Current use
INDUSTRIAL (GENERAL)
$1,045,000
Change: +88% · Conversion: Easy
AUTO REPAIR, GARAGE
$825,000
Change: +49% · Conversion: Easy
RESTAURANT
$815,000
Change: +47% · Conversion: Difficult
RETAIL STORES
$720,000
Change: +30% · Conversion: Moderate
COMMERCIAL (GENERAL)
$705,000
Change: +27% · Conversion: Difficult
MEDICAL BUILDING
$700,000
Change: +26% · Conversion: Difficult
NEIGHBORHOOD: SHOPPING CENTER
$680,000
Change: +22% · Conversion: Moderate
Blend value · Realmo final
$855k
Range $770k – $941k · ±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
$106 / 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
$21,044
Tax year 2023
Assessed value
$751,700
Assessed 2023
Previous assessed
$653,950
+14.9% YoY
Effective rate
2.80%
On assessed value
Assessed land
$218,550
Assessed improvement
$533,150
Land market value
$437,100
Improvement market value
$1,066,300
Total market value
$1,503,400
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
1993
Total area
8,064 SF
Lot
2.21 ac (96,442 SF)
Zoning code
MA
APN
0995-002-064
UPID
US56-0721246
Jurisdiction
BURLEIGH
Zoning & alternative use
MA · Bismarck, ND
Zoning MA · permitted uses
MA · 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
$555,000
INDUSTRIAL (GENERAL)
Est. value
$1.0M
AUTO REPAIR, GARAGE
Est. value
$825,000
RESTAURANT
Est. value
$815,000
RETAIL STORES
Est. value
$720,000
COMMERCIAL (GENERAL)
Est. value
$705,000
MEDICAL BUILDING
Est. value
$700,000
NEIGHBORHOOD: SHOPPING CENTER
Est. value
$680,000
WAREHOUSE, STORAGE Current
INDUSTRIAL (GENERAL)
AUTO REPAIR, GARAGE
RESTAURANT
RETAIL STORES
COMMERCIAL (GENERAL)
MEDICAL BUILDING
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
1993
Lot
2.21 ac
Current owner
From public records · entity-resolved
Bnr Prperties LLC
Entity
Mailing address
PO BOX 395, BISMARCK, ND 58502-0395
Ownership since
2024
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
4 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Dec 11, 2024
—
Bnr Prperties LLC
—
Deed
related
$750,000 · Railway Cu
Aug 1, 2024
—
Bnr Properties LLC
—
Deed
related
$541,000 · Railway Cu
Aug 1, 2018
—
Cary G Murschel
—
Deed
related
$261,111 · Choice Financial Group
Jul 6, 2016
—
Cary Murschel
—
Deed
related
$60,874 · Choice Financial Group
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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