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Property profile & analytics
OFF-MARKET
Estimated value
$1,415,000
Office Spaces
1640 Burnt Boat Dr Bismarck, ND 58503-0802
Entity Owned
3-yr Hold
~
Est. High Equity
Property ID
US56-0346405
Property profile
Verified
Property type
Office Spaces
Use group
OFFICE (GENERAL)
Year built
1994
Total area
10,014 SF
Lot
1.99 ac (86,510 SF)
Zoning code
CA
APN
0926-003-200
UPID
US56-0346405
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
$1.16M
Comparable Approach
Comparable
by Request
Blend (final)
Blend
$1.42M
Owner & transaction history
City Of Bismarck · 3 yrs held
City Of Bismarck
since 2022
Last sale
$1.5M
4 recorded transactions
Zoning & alternative use
CA · Bismarck, ND
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Retail stores
$1.8M
+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%
$1,255,000
6.5%
$1,155,000
7%
$1,075,000
Alternative Use
Use
Estimation
COMMERCIAL (GENERAL)
$1,570,000
Current use
RETAIL STORES
$1,765,000
Change: +12% · Conversion: Easy
INDUSTRIAL (GENERAL)
$1,450,000
Change: -8% · Conversion: Moderate
NEIGHBORHOOD: SHOPPING CENTER
$1,380,000
Change: -12% · Conversion: Difficult
Blend value · Realmo final
$1.42M
Range $1.27M – $1.56M · ±10% · vs last sale $1.50M (Dec 13 2022)
Last sale anchor
$1.50M
Dec 13 2022
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
$6,717
Tax year 2023
Assessed value
$258,450
Assessed 2023
Previous assessed
$250,100
+3.3% YoY
Effective rate
2.60%
On assessed value
Assessed land
$93,450
Assessed improvement
$165,000
Land market value
$186,900
Improvement market value
$330,000
Total market value
$516,900
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
1994
Total area
10,014 SF
Lot
1.99 ac (86,510 SF)
Zoning code
CA
APN
0926-003-200
UPID
US56-0346405
Jurisdiction
BURLEIGH
Zoning & alternative use
CA · Bismarck, ND
Zoning CA · permitted uses
CA · 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
$1.6M
RETAIL STORES
Est. value
$1.8M
INDUSTRIAL (GENERAL)
Est. value
$1.5M
NEIGHBORHOOD: SHOPPING CENTER
Est. value
$1.4M
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
1994
Lot
1.99 ac
Current owner
From public records · entity-resolved
City Of Bismarck
Entity
Mailing address
PO BOX 1675, BISMARCK, ND 58502-1675
Ownership since
2022
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
Jun 21, 2023
—
Bismarck Mandan Chamber Edc
—
Deed
related
$708,000 · Starion Bank
Dec 13, 2022
$1,500,000
City Of Bismarck
Ducks Unlimited INC
Warranty Deed
—
Oct 17, 2007
—
Bismarckmandan Area Chamber Of Comm
State Farm Mutual Automobile Insura
Limited Warranty Deed
—
May 12, 2006
—
Bismarck Mandan Chamber Of Commerce
State Farm Mutual Insurance Co
Warranty Deed
—
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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