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    The Largest CRE Database in the US with Over 1 Million Listings
    Property profile & analytics

    6029 Main Ave Bismarck, ND 58501

    • Flex space
    • 12,600 SF
    • 2.54 lot acres
    OFF-MARKET
    Last Sale
    Dec 09, 2022
    $1,200,000
    Value Estimations
    $1,245,000
    Show details
    Cap Rate Potential
    3%
    Flex space
    Location Intelligence
    Property ID
    US56-0623462
    The Realmo ID is a unique identifier assigned to every property, incorporating country codes and precise geo-coordinates for 300x300-foot land blocks. It enables standardized data collection and seamless integration of disparate sources such as ownership, tax, title data and physical specifications. By aggregating current and historical records, the Realmo ID powers advanced analytics and delivers deep, verifiable insights for real estate professionals.

    Current Use by Public Records

    • Snortums Nursery / Plant Nursery

    Property Details for 6029 Main Ave

    Year built
    1979
    Lot size
    2.54 lot acres
    Property size
    12,600 SF
    Zone code
    MA
    Property type
    Flex space
    APN
    0113-006-050
    APU
    113006050

    Value Estimations

    based on Realmo’s proprietary methodology

    • CAP approach

      CAP Return
      Estimation
      6%
      $895,000
      6.5%
      $830,000
      7%
      $770,000

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $1,056,000
      Market price range: $890k - $2.04M
      AI Estimate
      $754,000
      Market price range: $469k - $1.56M

    • Alternative Use

      Use
      Estimation
      INDUSTRIAL (GENERAL)
      $1,440,000
      Current use
      COMMERCIAL (GENERAL)
      $1,875,000
      Change: +30% Conversion: Difficult
      RETAIL STORES
      $1,850,000
      Change: +29% Conversion: Moderate
      NEIGHBORHOOD: SHOPPING CENTER
      $1,735,000
      Change: +20% Conversion: Difficult

    Get a detailed, property-specific valuation — fast and free

    Location Insight

    • Map
    • Local Demand
    City
    Bismarck
    County
    Burleigh
    State
    North Dakota
    Longitude
    -100.697
    Latitude
    46.8081
    CBSA code
    13900
    CBSA name
    BISMARCK, ND METROPOLITAN STATISTICAL AREA

    Property Tax & Assessments

    Tax date
    Tax Amount
    Assessed Land Value
    Assessed Improvement Value
    Total Assessed Value
    Applied Tax Rate
    Land Market Value
    Improvement Market Value
    Total Market Value
    2023
    $11,200
    $125,850
    $305,100
    $430,950
    -
    $251,700
    $610,200
    $861,900

    Comparable in this City

    • Value Estimation
      $3,135,000
      31,979 SF

      300 Enterprise St

      LIGHT INDUSTRIAL • 31,979 SF
      300 Enterprise St, Bismarck, ND 58501-3321
      View Details
    • Value Estimation
      $5,185,000
      63,247 SF

      1150 Industrial Dr

      LIGHT INDUSTRIAL • 63,247 SF
      1150 Industrial Dr, Bismarck, ND 58501-3315
      View Details
    • Value Estimation
      $510,000
      3,672 SF

      1400 Main Ave

      LIGHT INDUSTRIAL • 3,672 SF
      1400 Main Ave, Bismarck, ND 58501
      View Details
    • Value Estimation
      $3,130,000
      33,094 SF

      3840 Rosser Ave

      LIGHT INDUSTRIAL • 33,094 SF
      3840 Rosser Ave, Bismarck, ND 58501-3314
      View Details
    • Value Estimation by Request
      4,200 SF

      1823 Broadway Ave

      LIGHT INDUSTRIAL • 4,200 SF
      1823 Broadway Ave, Bismarck, ND 58501
      View Details
    • Value Estimation
      $1,385,000
      14,400 SF

      1430 Industrial Dr

      LIGHT INDUSTRIAL • 14,400 SF
      1430 Industrial Dr, Bismarck, ND 58501-3318
      View Details

    Similar Nearby for Sale

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      Bismarck Industrial Portfolio

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    • $650,000
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      Modern Self-Storage Facility For Sale

      New self-storage facility with expansion potential near Lincoln, North Dakota.
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      1.11 Acres

      Bismarck Industrial Land Parcels

      Prime Bismarck development sites, I-94 access.
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      Warehouse with Two-Story Office

      13,639 SF warehouse with office space for sale.
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    Similar Nearby for Lease

    • $12 SF/Yr
      1,500 SF

      Downtown Bismarck Office Space

      1500 SF Office, Prime Location
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      View Details
    • $9 SF/Yr
      3,000 SF

      Industrial Flex Space Available Soon

      3,000 SF flex space available October 2024.
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      View Details
    • $8 SF/Yr
      8,163 SF

      Bismarck Office/Warehouse For Lease

      Prime Main Ave location, 8,163 sqft.
      2219 Main Ave, Bismarck, ND 58501
      View Details
    • $13 SF/Yr
      3,880 SF

      Downtown Bismarck Office Building

      Prime Bismarck Office, Drive-Thru, Parking
      421 4Th St, Bismarck, ND 58501
      View Details
    • $16 SF/Yr

      Downtown Office Space with Parking

      Renovated office space with parking in downtown Bismarck.
      418 E Rosser Ave, Bismarck, ND 58501
      View Details
    • $15 SF/Yr
      3,740 SF

      Downtown Retail/Professional Space Available

      Main floor retail/professional space with great visibility and signage.
      515 E Broadway Ave, Bismarck, ND 58501
      View Details
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    6029 Main Ave
    Bismarck, ND 58501
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    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
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