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Property profile & analytics
OFF-MARKET
Estimated value
$675,000
Office Spaces
2800 Washington St Bismarck, ND 58503-1482
Entity Owned
1-yr Hold
Absentee Owner
~
Est. High Equity
Property ID
US56-0397248
Property profile
Verified
Property type
Office Spaces
Use group
OFFICE (GENERAL)
Year built
1986
Total area
2,754 SF
Lot
0.39 ac (17,153 SF)
Zoning code
RT
APN
0562-010-060
UPID
US56-0397248
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
-
CENTURY 21 Landmark Realty, Inc. Real Estate Agency
-
Landmark Real Estate Services Real Estate Agency
-
Charlotte Erickson Real Estate Agency
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$675k
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$434k
Blend (final)
Blend
$675k
Owner & transaction history
Carol Spain Properties LLP · 1 yrs held
Carol Spain Properties LLP
since 2024
Last sale
$675,000
3 recorded transactions
Zoning & alternative use
RT · Bismarck, ND
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Retail stores
$485,000
+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
$675,000
ML approach
$675,000
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
COMMERCIAL (GENERAL)
$430,000
Current use
RETAIL STORES
$485,000
Change: +12% · Conversion: Easy
Blend value · Realmo final
$675k
Range $608k – $743k · ±10% · vs last sale $675k (Aug 2 2024)
Last sale anchor
$675k
Aug 2 2024
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
$245 / 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
$7,396
Tax year 2023
Assessed value
$256,000
Assessed 2023
Previous assessed
$234,850
+9.0% YoY
Effective rate
2.89%
On assessed value
Assessed land
$64,500
Assessed improvement
$191,500
Land market value
$129,000
Improvement market value
$383,000
Total market value
$512,000
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
1986
Total area
2,754 SF
Lot
0.39 ac (17,153 SF)
Zoning code
RT
APN
0562-010-060
UPID
US56-0397248
Jurisdiction
BURLEIGH
Zoning & alternative use
RT · Bismarck, ND
Zoning RT · permitted uses
RT · 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
$430,000
RETAIL STORES
Est. value
$485,000
COMMERCIAL (GENERAL) Current
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
1986
Lot
0.39 ac
Current owner
From public records · entity-resolved
Carol Spain Properties LLP
Entity
Mailing address
8315 N WILLOW RD N, MANDAN, ND 58554-5404
Mailing matches property
Different — outreach signal
Owner-occupied
No
Ownership since
2024
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
3 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Sep 16, 2024
—
Carol Spain Properties LLP
—
Deed
related
$22,645 · Lewis & Clark Regional Development Counc
Aug 2, 2024
$675,000
Carol Spain Properties LLP
Wade M Bachmeier
Warranty Deed
$540,000 · Cs Bank
Dec 14, 2017
—
Wade M Bachmeier
—
Deed
related
$200,000 · Choice Financial Group
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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