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Property profile & analytics
OFF-MARKET
Estimated value
$2,450,000
Medical Office Space
1800 Burnt Boat Dr Bismarck, ND 58503-0803
Entity Owned
5-yr Hold
~
Est. High Equity
Property ID
US56-0140372
Property profile
Verified
Property type
Medical Office Space
Use group
MEDICAL BUILDING
Year built
1999
Total area
11,714 SF
Lot
1.88 ac (81,806 SF)
Zoning code
RT
APN
0925-001-015
UPID
US56-0140372
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
$2.50M
CAP Approach
CAP
$2.15M
Comparable Approach
Comparable
by Request
Blend (final)
Blend
$2.45M
Owner & transaction history
Sterling Properties Lllp · 5 yrs held
Sterling Properties Lllp
since 2021
Last sale
$2.4M
2 recorded transactions
Zoning & alternative use
RT · Bismarck, ND
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Zoning description
in any RR, RR5, R5, R10, RM, or RT district as a special use, provided: 1. The lot area, lot width, front yard, side yard, rear yard and height limits of a religious institution shall conform to the lot, yard and height requirements specified for a principal building in the district regulations where the building permit is requested. 2. The ground area occup…
Zone name
Residential Office Multifamily
General category
MIXED_USE
Zone area
672.56 ac
Source
TABLE OF CONTENTS
Top alternative use upside
Retail stores
$1.5M
+49.4%
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
$2,500,000
ML approach
$2,495,000
CAP Approach
CAP Return
Estimation
6%
$2,325,000
6.5%
$2,150,000
7%
$1,995,000
Alternative Use
Use
Estimation
RETAIL STORES
$1,515,000
Change: +49% · Conversion: Difficult
Blend value · Realmo final
$2.45M
Range $2.21M – $2.70M · ±10% · vs last sale $2.40M (Apr 7 2021)
Last sale anchor
$2.40M
Apr 7 2021
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
$209 / 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
$34,231
Tax year 2023
Assessed value
$1,317,100
Assessed 2023
Previous assessed
$1,208,350
+9.0% YoY
Effective rate
2.60%
On assessed value
Assessed land
$215,650
Assessed improvement
$1,101,450
Land market value
$431,300
Improvement market value
$2,202,900
Total market value
$2,634,200
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
Medical Office Space
Use group
MEDICAL BUILDING
Status
Off-Market
Year built
1999
Total area
11,714 SF
Lot
1.88 ac (81,806 SF)
Zoning code
RT
APN
0925-001-015
UPID
US56-0140372
Jurisdiction
BURLEIGH
Zoning & alternative use
RT · Bismarck, NDZoning RT · permitted uses
RT · Bismarck, ND
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Zoning description
in any RR, RR5, R5, R10, RM, or RT district as a special use, provided: 1. The lot area, lot width, front yard, side yard, rear yard and height limits of a religious institution shall conform to the lot, yard and height requirements specified for a principal building in the district regulations where the building permit is requested. 2. The ground area occupied by the principal and accessory buildings shall not exceed thirty-five (35) percent of the total area of the lot. 3. Space for off -street parking shall be provided as per
Zone name
Residential Office Multifamily
General category
MIXED_USE
Zone area
672.56 ac
Source
TABLE OF CONTENTS
Alternative use value scenarios
Repositioning upside vs current use
RETAIL STORES
Est. value
$1.5M
RETAIL STORES
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
1999
Lot
1.88 ac
Current owner
From public records · entity-resolved
Sterling Properties Lllp
Entity
Mailing address
PO BOX 2108, FARGO, ND 58107-2108
Ownership since
2021
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
2 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Apr 7, 2021
—
Sterling Properties Lllp
Inreit Bl Bismarck LLC
Quit Claim Deed
related
$4,429,750 · Bell Bank
Jan 18, 2008
$2,398,563
Inreit Bl Bismarck LLC
1800 Burnt Boat Dr LLC
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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