Your AI Navigator in Commercial Real Estate
Sign Up Successful!
You now have access to more from Realmo!
Property Lookup
    Property Lookup
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    Back to Search
    Property profile & analytics

    2625 State St Bismarck, ND 58503

    • Commercial real estate
    • 107,375 SF
    For Lease
    View listing
    Value Estimations
    Cap Rate Potential
    Location Intelligence
    Property ID
    US56-0401428
    The Realmo ID is a unique identifier assigned to every property, incorporating country codes and precise geo-coordinates for 300x300-foot land blocks. It enables standardized data collection and seamless integration of disparate sources such as ownership, tax, title data and physical specifications. By aggregating current and historical records, the Realmo ID powers advanced analytics and delivers deep, verifiable insights for real estate professionals.

    Current Use by Public Records

    • Commercial real estate

    Property Details for 2625 State St

    Year built
    1971
    Property size
    107,375 SF
    Property type
    Commercial real estate

    Description

    This exceptional commercial property, a former Kmart shopping center, presents a unique investment opportunity in Bismarck, North Dakota. Located at 2625 State St, this 107,375 square foot building sits on an expansive 11.48-acre lot, offering significant potential for redevelopment or repurposing. The property boasts a prime location with convenient access to Interstate Ave, ensuring high visibility and accessibility for businesses. Built in 1971, the single-building structure is zoned CG - Commercial, allowing for a wide range of commercial uses. The property's multiple tenancy configuration provides flexibility for various business models. This substantial property is ideal for developers seeking a large-scale project or established businesses looking for a prominent location in a thriving market. The property's size and location in Burleigh County, Bismarck, ND (zip code 58503) make it an attractive option for a variety of commercial ventures. The property's history as a successful retail center provides a solid foundation for future success. Detailed information and lease terms are available upon request. This is a rare opportunity to acquire a significant commercial property in a desirable location.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

    Get a detailed, property-specific valuation — fast and free

    Location Insight

    • Map
    • Local Demand
    City
    Bismarck
    County
    Burleigh
    State
    North Dakota
    Longitude
    -100.7699352
    Latitude
    46.8355224

    Comparable in this City

    • $19 SF/Yr
      1,713 SF

      Northwest Bismarck Retail/Mixed Use Space

      High-traffic, high-visibility retail suites with drive-thru in Class A building.
      1655 N Grandview Ln, Bismarck, ND 58503
      View Details
    • $21 SF/Yr
      13,800 SF

      Bismarck Creative Office Space

      Modern, Multi-Use Office Suites in ND
      208 Greenfield Ln, Bismarck, ND 58503
      View Details
    • $20 SF/Yr
      25,100 SF

      Skyline Way Medical Office Space

      Bismarck, ND medical office & restaurant space.
      1445 Skyline Way, Bismarck, ND 58503
      View Details
    • $22 SF/Yr
      1,157 SF

      Bismarck Commercial Office Space

      1,157 SF Office, High Visibility
      1830 Century Ave, Bismarck, ND 58503
      View Details
    • $17 SF/Yr
      8,354 SF

      Bismarck Office Building - 8,354 SF

      Prime NW Bismarck office space, multiple tenants.
      1720 Burnt Boat Dr, Bismarck, ND 58503
      View Details
    • $16 SF/Yr
      1,935 SF

      Executive Suite Office Space for Lease

      1,935 sq ft, Newly Renovated, Burleigh County
      101 Slate Dr, Bismarck, ND 58503
      View Details

    Similar Nearby for Sale

    • $1,200,000
      12,500 SF

      Fully Leased Retail Property

      Fully leased retail property in a great north location.
      1003 E Interstate Ave, Bismarck, ND 58503
      View Details
    • $2,400,000
      22,300 SF

      Retail Property with Highway Exposure

      Retail property with leases, large parking, and highway exposure.
      1035-1051 E Interstate Ave, Bismarck, ND 58503
      View Details
    • $1,375,272
      2.63 Acres

      North Bismarck Commercial Land

      Prime development land, high visibility.
      5951 Ridgedale St, Bismarck, ND 58503
      View Details
    • Contact for pricing
      1.95 Acres

      Bismarck Commercial Land Development

      Highway 83 lots near Costco; development ready.
      1232 Ridgedale Pl, Bismarck, ND 58503
      View Details
    • $3,235,734
      4.13 Acres

      Bismarck Development Land - 4.13 Acres

      Prime North Bismarck commercial land, ideal for development.
      4200 15Th St, Bismarck, ND 58503
      View Details
    • $1,700,000
      15.26 Acres

      Bismarck Industrial Land - 15 Acres

      Prime Bismarck industrial land, Hwy 83 access.
      0 19Th St, Bismarck, ND 58503
      View Details

    Similar Nearby for Lease

    • $21 SF/Yr
      13,800 SF

      Bismarck Creative Office Space

      Modern, Multi-Use Office Suites in ND
      208 Greenfield Ln, Bismarck, ND 58503
      View Details
    • $20 SF/Yr
      25,100 SF

      Skyline Way Medical Office Space

      Bismarck, ND medical office & restaurant space.
      1445 Skyline Way, Bismarck, ND 58503
      View Details
    • $22 SF/Yr
      1,157 SF

      Bismarck Commercial Office Space

      1,157 SF Office, High Visibility
      1830 Century Ave, Bismarck, ND 58503
      View Details
    • $19 SF/Yr
      1,713 SF

      Northwest Bismarck Retail/Mixed Use Space

      High-traffic, high-visibility retail suites with drive-thru in Class A building.
      1655 N Grandview Ln, Bismarck, ND 58503
      View Details
    • $16 SF/Yr
      1,935 SF

      Executive Suite Office Space for Lease

      1,935 sq ft, Newly Renovated, Burleigh County
      101 Slate Dr, Bismarck, ND 58503
      View Details
    • Contact for pricing
      5,313 SF

      Office and Shop Space Available

      Office and shop space available for lease in Bismarck.
      3320 Hamilton St, Bismarck, ND 58503
      View Details
    Request Owner's contact information
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    2625 State St
    Bismarck, ND 58503
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    Google sign-in failed. Please try again or use another login method.
    Create New Password
    • At least 8 characters
    • Contains both letters and numbers
    • Contains uppercase and lowercase letters
    • At most 32 characters
    • Password required
    • Password reset link has expired. Please request a new one.