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Property profile & analytics
OFF-MARKET
Estimated value
$4,255,000
Office Spaces
1815 Schafer St Bismarck, ND 58501-1217
Entity Owned
~
Est. High Equity
Property ID
US56-0633234
Property profile
Verified
Property type
Office Spaces
Use group
OFFICE (GENERAL)
Year built
2003
Total area
30,015 SF
Lot
1.83 ac (79,497 SF)
Zoning code
CG
APN
1425-001-050
UPID
US56-0633234
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
-
Horizon Building Community College
-
Kestrel Engineering Group Engineering Consultant
-
Earth Systems Environmental Engineer
-
Approving Agency State Government Office
-
Findet State Government Office
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
$3.47M
Comparable Approach
Comparable
$5.28M
Blend (final)
Blend
$4.26M
Owner & transaction history
Liberty Investments LLC
Liberty Investments LLC
since 2026
2 recorded transactions
Zoning & alternative use
CG · Bismarck, ND
Permitted uses
Permitted uses
Allowed · conditional · prohibited
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%
$3,755,000
6.5%
$3,465,000
7%
$3,220,000
Alternative Use
Use
Estimation
COMMERCIAL (GENERAL)
$4,470,000
Current use
RETAIL STORES
$4,410,000
Change: -1% · Conversion: Easy
NEIGHBORHOOD: SHOPPING CENTER
$4,130,000
Change: -8% · Conversion: Difficult
Blend value · Realmo final
$4.26M
Range $3.83M – $4.68M · ±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
$142 / 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
$70,258
Tax year 2023
Assessed value
$2,688,250
Assessed 2023
Previous assessed
$2,466,300
+9.0% YoY
Effective rate
2.61%
On assessed value
Assessed land
$365,400
Assessed improvement
$2,322,850
Land market value
$730,800
Improvement market value
$4,645,700
Total market value
$5,376,500
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
Office Spaces
Use group
OFFICE (GENERAL)
Status
Off-Market
Year built
2003
Total area
30,015 SF
Lot
1.83 ac (79,497 SF)
Zoning code
CG
APN
1425-001-050
UPID
US56-0633234
Jurisdiction
BURLEIGH
Zoning & alternative use
CG · Bismarck, ND
Zoning CG · permitted uses
CG · 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
$4.5M
RETAIL STORES
Est. value
$4.4M
NEIGHBORHOOD: SHOPPING CENTER
Est. value
$4.1M
COMMERCIAL (GENERAL) Current
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
2003
Lot
1.83 ac
Current owner
From public records · entity-resolved
Liberty Investments LLC
Entity
Mailing address
PO BOX 1675, BISMARCK, ND 58502-1675
Ownership since
2026
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
Mar 5, 2026
—
Liberty Investments LLC
Bismarck Industries INC
Warranty Deed
$3,187,500 · Dacotah Bank
Jun 1, 2007
$3,800,000
Bismarck Industries INC
Capitol City Horizon View Ltd Pa
Warranty Deed
$1,204,000 · Us Bank NA
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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