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Property profile & analytics
OFF-MARKET
Estimated value
$1,035,000
Warehouses
2000 Lee Ave Bismarck, ND 58504
Entity Owned
4-yr Hold
~
Est. High Equity
Property ID
US56-0174948
Property profile
Verified
Property type
Warehouses
Use group
MINI-WAREHOUSE, STORAGE
Year built
1969
Total area
2,919 SF
Lot
2.04 ac (88,993 SF)
Zoning code
MA
APN
0610-002-080
UPID
US56-0174948
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
-
Anytime Storage Storage Facility
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$1.09M
CAP Approach
CAP
by Request
Comparable Approach
Comparable
by Request
Blend (final)
Blend
$1.04M
Owner & transaction history
Freitag Enterprise LLC · 4 yrs held
Freitag Enterprise LLC
since 2021
Last sale
$1.0M
6 recorded transactions
Zoning & alternative use
MA · 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
$1,040,000
ML approach
$1,090,000
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Blend value · Realmo final
$1.04M
Range $932k – $1.14M · ±10% · vs last sale $1.00M (Dec 23 2021)
Last sale anchor
$1.00M
Dec 23 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
$355 / 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
$14,327
Tax year 2023
Assessed value
$389,750
Assessed 2023
Previous assessed
$357,600
+9.0% YoY
Effective rate
3.68%
On assessed value
Assessed land
$201,900
Assessed improvement
$187,850
Land market value
$403,800
Improvement market value
$375,700
Total market value
$779,500
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
Warehouses
Use group
MINI-WAREHOUSE, STORAGE
Status
Off-Market
Year built
1969
Total area
2,919 SF
Lot
2.04 ac (88,993 SF)
Zoning code
MA
APN
0610-002-080
UPID
US56-0174948
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.
Building & site characteristics
From public records
Year built
1969
Lot
2.04 ac
Current owner
From public records · entity-resolved
Freitag Enterprise LLC
Entity
Mailing address
2011 LOVETT AVE, BISMARCK, ND 58504-6738
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
6 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Feb 12, 2025
—
Freitag Enterprises LLC
—
Deed
related
$179,161 · Capital Cu
May 9, 2022
—
Freitag Enterprise LLC
—
Deed
related
$400,000 · Capital Cu
Dec 23, 2021
$1,000,000
Freitag Enterprise LLC
Jeffrey Boots
Warranty Deed
$400,000 · Capital Cu
Dec 23, 2021
—
Pinewood Proeprties LLC
Bucky J Feigitsch
Quit Claim Deed
related
$400,000 · Capital Cu
Jun 28, 2019
$805,000
Jeffery Boots
Lois E Schmeichel
Warranty Deed
$632,000 · Blackridgebank
Jan 17, 2017
—
Duane D Schmeichel
Duane D Schmeichel
Intrafamily Transfer
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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