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Property profile & analytics
OFF-MARKET
Estimated value
$3,495,000
Retail space
402 Main Ave Bismarck, ND 58501-4091
Entity Owned
4-yr Hold
~
Est. High Equity
Property ID
US56-0555015
Property profile
Verified
Property type
Retail space
Use group
RETAIL STORES (PERSONAL SERVICES)
Year built
1913
Total area
25,550 SF
Lot
0.3 ac (13,000 SF)
Zoning code
DC
APN
0001-048-045
UPID
US56-0555015
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
-
Nikii Pix Photography Photography Service (Bike/Boat/Book/etc) Store
-
McCabe Law Firm Law Firm
-
JLG Architects Architect
-
Duke & Emmi Photography Photography Service (Bike/Boat/Book/etc) Store
-
Boehm Law Office Law Firm
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$4.67M
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$2.89M
Blend (final)
Blend
$3.50M
Owner & transaction history
Cape Boats LLC · 4 yrs held
Cape Boats LLC
since 2022
Last sale
$3.0M
4 recorded transactions
Zoning & alternative use
DC · Bismarck, ND
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Commercial (general)
$3.8M
+1.3%
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
$4,485,000
ML approach
$4,670,000
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
RETAIL STORES
$3,755,000
Current use
COMMERCIAL (GENERAL)
$3,805,000
Change: +1% · Conversion: Easy
NEIGHBORHOOD: SHOPPING CENTER
$3,515,000
Change: -6% · Conversion: Moderate
Blend value · Realmo final
$3.50M
Range $3.15M – $3.84M · ±10% · vs last sale $3.00M (Jun 1 2022)
Last sale anchor
$3.00M
Jun 1 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
$137 / 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
$20,097
Tax year 2023
Assessed value
$734,700
Assessed 2023
Previous assessed
$758,150
-3.1% YoY
Effective rate
2.74%
On assessed value
Assessed land
$101,500
Assessed improvement
$633,200
Land market value
$203,000
Improvement market value
$1,266,400
Total market value
$1,469,400
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
Retail space
Use group
RETAIL STORES (PERSONAL SERVICES)
Status
Off-Market
Year built
1913
Total area
25,550 SF
Lot
0.3 ac (13,000 SF)
Zoning code
DC
APN
0001-048-045
UPID
US56-0555015
Jurisdiction
BURLEIGH
Zoning & alternative use
DC · Bismarck, ND
Zoning DC · permitted uses
DC · 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
RETAIL STORES Current
Est. value
$3.8M
COMMERCIAL (GENERAL)
Est. value
$3.8M
NEIGHBORHOOD: SHOPPING CENTER
Est. value
$3.5M
RETAIL STORES Current
COMMERCIAL (GENERAL)
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
1913
Lot
0.3 ac
Current owner
From public records · entity-resolved
Cape Boats LLC
Entity
Mailing address
200 W MAIN AVE, BISMARCK, ND 58501-3739
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
4 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Jun 1, 2022
$3,000,000
Cape Boats LLC
The Ten On Main LLC
Warranty Deed
$3,000,000 · Horizon Financial Bank
Dec 19, 2019
$2,000,000
Ten Main LLC
Capital Holdings LLC
Warranty Deed
$2,033,000 · Security First Bank Of North Dakota
Sep 30, 2008
—
Capital Holdings LLC
Roger Zink
Quit Claim Deed
related
—
Sep 1, 2005
$380,000
Roger Zink
Mlbw LLC
Warranty Deed
$240,000 · Bremer Bank NA
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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