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Property profile & analytics
OFF-MARKET
Estimated value
$2,500,000
Office Spaces
4205 State St Bismarck, ND 58503-0623
Entity Owned
~
Est. High Equity
Property ID
US56-0237305
Property summary
AI-generated overview
This 1,400-square-foot office suite in Bismarck, North Dakota, is located at 4205 State Street, lower level, in Burleigh County (zip code 58503). The single-tenant space is ideal for businesses seeking a traditional office, executive office, or coworking setup. The suite features five private offices, a reception area, and a convenient storage room. A walkout entrance and front door parking on the south side of the building provide excellent accessibility. High visibility from State Street ensures strong brand recognition. The property boasts abundant parking in a private lot. The lease is a full-service agreement, with tenants responsible only for janitorial services, internet costs, and a pro-rata share of snow removal. The monthly lease rate is $1,925, or $16.50 per square foot. This exceptional location offers an unparalleled opportunity for businesses seeking a prominent presence in Bismarck.
Property profile
Verified
Property type
Office Spaces
Use group
OFFICE (GENERAL)
Year built
1973
Total area
16,976 SF
Lot
1.6 ac (69,870 SF)
Zoning code
CG
APN
1625-001-050
UPID
US56-0237305
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
-
Believe & Blossom Preschool LLC High School Daycare Center
-
Criminal Investigation Bureau Police Department
-
Centered Portable Toilets Building Supply
-
Beacon Counseling Services, PLLC Social Worker Counselor
-
Consumer Protection Antitrust State Government Office
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$2.50M
CAP Approach
CAP
$1.96M
Comparable Approach
Comparable
$2.16M
Blend (final)
Blend
$2.50M
Owner & transaction history
B & B Equities LLC
B & B Equities LLC
since 2026
Last sale
$2.5M
7 recorded transactions
Zoning & alternative use
CG · Bismarck, ND
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Retail stores
$3.0M
+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
$2,500,000
ML approach
$2,500,000
CAP Approach
CAP Return
Estimation
6%
$2,125,000
6.5%
$1,960,000
7%
$1,820,000
Alternative Use
Use
Estimation
COMMERCIAL (GENERAL)
$2,665,000
Current use
RETAIL STORES
$2,995,000
Change: +12% · Conversion: Easy
INDUSTRIAL (GENERAL)
$2,460,000
Change: -8% · Conversion: Moderate
NEIGHBORHOOD: SHOPPING CENTER
$2,335,000
Change: -12% · Conversion: Difficult
Blend value · Realmo final
$2.50M
Range $2.25M – $2.75M · ±10% · vs last sale $2.50M (Dec 13 2024)
Last sale anchor
$2.50M
Dec 13 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
$147 / 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
$34,227
Tax year 2023
Assessed value
$1,276,800
Assessed 2023
Previous assessed
$1,350,050
-5.4% YoY
Effective rate
2.68%
On assessed value
Total market value
$2,553,600
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
1973
Total area
16,976 SF
Lot
1.6 ac (69,870 SF)
Zoning code
CG
APN
1625-001-050
UPID
US56-0237305
Jurisdiction
BURLEIGH
Zoning & alternative use
CG · Bismarck, ND
Zoning CG · permitted uses
CG · 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
$2.7M
RETAIL STORES
Est. value
$3.0M
INDUSTRIAL (GENERAL)
Est. value
$2.5M
NEIGHBORHOOD: SHOPPING CENTER
Est. value
$2.3M
COMMERCIAL (GENERAL) Current
RETAIL STORES
INDUSTRIAL (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
1973
Lot
1.6 ac
Current owner
From public records · entity-resolved
B & B Equities LLC
Entity
Mailing address
3609 SANDPIPER TRL SE, MANDAN, ND 58554-7966
Ownership since
2026
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
7 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
May 4, 2026
$2,750,000
B & B Equities LLC
Western Partners LLP
Warranty Deed
$2,450,000 · Capital Credit Union
Sep 22, 2025
—
Balerud Rentals LLC
—
Deed
related
$864,000 · Choice Financial Group
Jun 25, 2025
—
Balerud Rentals LLC
—
Deed
related
$864,000 · Choice Financial Group
Dec 13, 2024
$2,500,000
Western Partners LLP
Sirrah Properties LLC
Warranty Deed
$1,164,000 · Capital Cu
Aug 5, 2020
—
Sirrah Properties LLC
—
Deed
related
$1,160,000 · Cornerstone Bank
Jun 1, 2012
$1,647,424
Sirrah Properties LLC
Sssm North Hills Limited Partnershi
Warranty Deed
$1,650,000
Sep 3, 2010
$2,300,000
Sirrah Properties LLC
Sssm North Hills LP
Contract Sale
—
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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