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Property profile & analytics
OFF-MARKET
Estimated value
$915,000
Flex space
2903 Broadway Ave Bismarck, ND 58501-5114
Entity Owned
3-yr Hold
~
Est. High Equity
Property ID
US56-0450605
Property profile
Verified
Property type
Flex space
Use group
LIGHT INDUSTRIAL
Year built
1979
Total area
8,726 SF
Lot
1.06 ac (46,043 SF)
Zoning code
MA
APN
0655-009-001
UPID
US56-0450605
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
-
Stein's Home Appliance Store (Bike/Boat/Book/etc) Store
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
$575k
Comparable Approach
Comparable
$953k
Blend (final)
Blend
$915k
Owner & transaction history
F & S Properties II LLC · 3 yrs held
F & S Properties II LLC
since 2022
Last sale
$943,000
6 recorded transactions
Zoning & alternative use
MA · Bismarck, ND
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Commercial (general)
$1.3M
+30.3%
Retail stores
$1.3M
+28.5%
Neighborhood: shopping center
$1.2M
+20.5%
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%
$620,000
6.5%
$575,000
7%
$535,000
Alternative Use
Use
Estimation
INDUSTRIAL (GENERAL)
$995,000
Current use
COMMERCIAL (GENERAL)
$1,300,000
Change: +30% · Conversion: Difficult
RETAIL STORES
$1,280,000
Change: +29% · Conversion: Moderate
NEIGHBORHOOD: SHOPPING CENTER
$1,200,000
Change: +20% · Conversion: Difficult
Blend value · Realmo final
$915k
Range $824k – $1.01M · ±10% · vs last sale $943k (Nov 4 2022)
Last sale anchor
$943k
Nov 4 2022
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
$105 / 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
$10,447
Tax year 2023
Assessed value
$388,900
Assessed 2023
Previous assessed
$356,800
+9.0% YoY
Effective rate
2.69%
On assessed value
Assessed land
$81,200
Assessed improvement
$307,700
Land market value
$162,400
Improvement market value
$615,400
Total market value
$777,800
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
Flex space
Use group
LIGHT INDUSTRIAL
Status
Off-Market
Year built
1979
Total area
8,726 SF
Lot
1.06 ac (46,043 SF)
Zoning code
MA
APN
0655-009-001
UPID
US56-0450605
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.
Alternative use value scenarios
Repositioning upside vs current use
INDUSTRIAL (GENERAL) Current
Est. value
$995,000
COMMERCIAL (GENERAL)
Est. value
$1.3M
RETAIL STORES
Est. value
$1.3M
NEIGHBORHOOD: SHOPPING CENTER
Est. value
$1.2M
INDUSTRIAL (GENERAL) Current
COMMERCIAL (GENERAL)
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
1979
Lot
1.06 ac
Current owner
From public records · entity-resolved
F & S Properties II LLC
Entity
Mailing address
2501 ANGUS DR, BISMARCK, ND 58504-3187
Ownership since
2022
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
Nov 4, 2022
$943,000
F & S Properties II LLC
Kbs Stein Investments LLC
Warranty Deed
$754,400 · Choice Financial Group
Mar 3, 2022
—
Kbs Stein Investments LLC
Kevin B Stein
Intrafamily Transfer
related
—
Dec 2, 2010
—
Kevin B Stein
Steins INC
Warranty Deed
—
Sep 3, 2010
—
Kevin B Stein
Capital City Investment LLP
Warranty Deed
—
Sep 2, 2010
—
Kevin B Stein
Capital City Investment LLP
Warranty Deed
—
Sep 6, 2006
$225,000
Stein S INC
Kevin B Stein
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.
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