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Property profile & analytics
OFF-MARKET
Estimated value
$2,945,000
Hotels
2821 Ithica Dr Bismarck, ND 58503-1380
Entity Owned
10-yr Hold
~
Est. High Equity
Property ID
US56-0318009
Property profile
Verified
Property type
Hotels
Use group
HOTEL/MOTEL
Year built
2015
Total area
46,106 SF
Lot
2.18 ac (94,874 SF)
Zoning code
RT
APN
0568-002-001
UPID
US56-0318009
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
-
Sierra Court Apartments Apartment Complex
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$3.28M
Blend (final)
Blend
$2.95M
Owner & transaction history
Sierra Court LLP · 10 yrs held
Sierra Court LLP
since 2015
2 recorded transactions
Zoning & alternative use
RT · Bismarck, ND
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Restaurant
$4.2M
+62.9%
Medical building
$4.0M
+55.0%
Industrial (general)
$4.0M
+53.5%
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%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
HOTEL/MOTEL
$2,580,000
Current use
RESTAURANT
$4,200,000
Change: +63% · Conversion: Difficult
MEDICAL BUILDING
$3,995,000
Change: +55% · Conversion: Difficult
INDUSTRIAL (GENERAL)
$3,955,000
Change: +54% · Conversion: Difficult
AUTO REPAIR, GARAGE
$3,850,000
Change: +49% · Conversion: Difficult
WAREHOUSE, STORAGE
$3,580,000
Change: +39% · Conversion: Difficult
NEIGHBORHOOD: SHOPPING CENTER
$3,320,000
Change: +29% · Conversion: Difficult
Blend value · Realmo final
$2.95M
Range $2.65M – $3.24M · ±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
$64 / 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
$61,559
Tax year 2023
Assessed value
$2,279,700
Assessed 2023
Previous assessed
$2,091,450
+9.0% YoY
Effective rate
2.70%
On assessed value
Assessed land
$203,100
Assessed improvement
$2,076,600
Land market value
$406,200
Improvement market value
$4,153,200
Total market value
$4,559,400
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
Hotels
Use group
HOTEL/MOTEL
Status
Off-Market
Year built
2015
Total area
46,106 SF
Lot
2.18 ac (94,874 SF)
Zoning code
RT
APN
0568-002-001
UPID
US56-0318009
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
HOTEL/MOTEL Current
Est. value
$2.6M
RESTAURANT
Est. value
$4.2M
MEDICAL BUILDING
Est. value
$4.0M
INDUSTRIAL (GENERAL)
Est. value
$4.0M
AUTO REPAIR, GARAGE
Est. value
$3.9M
WAREHOUSE, STORAGE
Est. value
$3.6M
NEIGHBORHOOD: SHOPPING CENTER
Est. value
$3.3M
HOTEL/MOTEL Current
RESTAURANT
MEDICAL BUILDING
INDUSTRIAL (GENERAL)
AUTO REPAIR, GARAGE
WAREHOUSE, STORAGE
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
2015
Lot
2.18 ac
Current owner
From public records · entity-resolved
Sierra Court LLP
Entity
Mailing address
1277 W SHORELINE LN, BOISE, ID 83702-6870
Ownership since
2015
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 5, 2017
—
Sierra Court LLP
—
Deed
related
$1,270,893 · Security First Bank Of North Dakota
Sep 23, 2015
$425,000
Sierra Court LLP
Goldmark Development Corp
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.
Try Rey
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“Is 15.6% cap rate sustainable?” · “Best tenant mix for BU1?” · “What’s the redev upside?”
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