Add Listing
    Property Lookup
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    928 Summit Blvd Bismarck, ND 58504
    Back to Search
    Property profile & analytics

    928 Summit Blvd Bismarck, ND 58504

    View on Map
    • Commercial real estate
    • 1,440 SF
    • 0.19 lot acres
    Off-Market
    Property ID
    US56-0455654
    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.
    Value Estimations
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Commercial real estate

    Property Details for 928 Summit Blvd

    Year built
    1948
    Lot size
    0.19 lot acres
    Property size
    1,440 SF
    Property type
    Commercial real estate
    APN
    0150-007-085

    Description

    Exceptional investment opportunity: a charming two-unit apartment building located at 928 Summit Boulevard in Bismarck, North Dakota. This 1,440 square foot duplex, built in 1948, sits on a 0.19-acre lot (58' x 142') and boasts alley access, providing ample space for potential garage construction. The property is zoned R10 and features two units, currently rented at $700 and $575 per month respectively. One unit offers two bedrooms upstairs, while the other has one bedroom downstairs. The property is conveniently located in west Bismarck, north of Memorial Highway, near the Bank of North Dakota and within close proximity to the Missouri River and Riverside Parks, offering residents access to numerous trails and outdoor recreational activities. The property is being sold "AS IS". 2023 property taxes totaled $1,733.27, with special installments of $419 and a balance of $1,970.70. The APN is 0150-007-085. Prospective buyers must be pre-qualified before scheduling a showing, providing 48-hour notice. Showings are available weekdays between 8 am and 5 pm.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

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

    Location Insight

    • Map
    • Local Demand
    City
    Bismarck
    County
    Burleigh
    State
    North Dakota
    Longitude
    -100.8041919
    Latitude
    46.806112

    Comparable in this City

    • Contact for pricing
      45,507 SF

      Lincoln Road Multifamily Investment Property

      36-unit apartment building built in 2014 near Kirkwood Mall.
      5180 Lincoln Rd, Lincoln, ND 58504
      View Details
    • $291,720
      2,040 SF

      Bismarck Commercial Condo Shop Units

      Spacious Bismarck condos, ideal for business or personal use.
      3204 Airway Ave, Bismarck, ND 58504
      View Details
    • Contact for pricing
      5,517 SF

      Spacious Office Condo For Sale

      5,517 SF office condo with high-end finishes and ample parking.
      931 S 9Th St, Bismarck, ND 58504
      View Details
    • Contact for pricing

      South Bismarck Land For Sale

      Land for sale at the corner of Airway Ave.
      3207 Airway Avenue-, Bismarck, ND 58504
      View Details
    • Contact for pricing

      Commercial Land with High Visibility

      Commercial land parcels with high visibility and roundabout access.
      7211 N Washington St, Bismarck, ND 58504
      View Details
    • $1,250,000

      South Bismarck Development Land

      Development land available in South Bismarck.
      4379 Highway 1804 SE, Bismarck, ND 58504
      View Details

    Similar Nearby for Sale

    • Contact for pricing
      45,507 SF

      Lincoln Road Multifamily Investment Property

      36-unit apartment building built in 2014 near Kirkwood Mall.
      5180 Lincoln Rd, Lincoln, ND 58504
      View Details
    • $291,720
      2,040 SF

      Bismarck Commercial Condo Shop Units

      Spacious Bismarck condos, ideal for business or personal use.
      3204 Airway Ave, Bismarck, ND 58504
      View Details
    • Contact for pricing
      5,517 SF

      Spacious Office Condo For Sale

      5,517 SF office condo with high-end finishes and ample parking.
      931 S 9Th St, Bismarck, ND 58504
      View Details
    • Contact for pricing

      South Bismarck Land For Sale

      Land for sale at the corner of Airway Ave.
      3207 Airway Avenue-, Bismarck, ND 58504
      View Details
    • Contact for pricing

      Commercial Land with High Visibility

      Commercial land parcels with high visibility and roundabout access.
      7211 N Washington St, Bismarck, ND 58504
      View Details
    • $1,250,000

      South Bismarck Development Land

      Development land available in South Bismarck.
      4379 Highway 1804 SE, Bismarck, ND 58504
      View Details

    Similar Nearby for Lease

    • $13 SF/Yr

      Office/Retail Space on South Washington

      Office and retail spaces available in high-traffic Bismarck location.
      1102 S Washington St, Bismarck, ND 58504
      View Details
    • Contact for pricing

      Class A Office Space Available

      Premier office space with flexible leasing options and modern amenities.
      812 Burlington Dr, Bismarck, ND 58504
      View Details
    • Contact for pricing

      Remodeled Office Spaces For Rent

      Newly remodeled office spaces available along Memorial Highway in Bismarck.
      723 Memorial Hwy, Bismarck, ND 58504
      View Details
    • Contact for pricing

      Southdale Business Center Office Space

      Affordable office space with ample parking in business center.
      531 Airport Rd, Bismarck, ND 58504
      View Details
    • Contact for pricing

      Class A Office Space Available

      Premier office building with flexible leasing options and modern amenities.
      812 Burlington Dr, Bismarck, ND 58504
      View Details
    • $12 SF/Yr
      3,600 SF

      Versatile Flex Space Available

      Adaptable 3,600 SF flex space with showroom potential.
      2385 Vermont Ave, Bismarck, ND 58504
      View Details
    Request Owner's contact information
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    928 Summit Blvd
    Bismarck, ND 58504
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    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
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    Thank You for Inquiry
    928 Summit Blvd, Bismarck, ND, 58504
    letter with green check mark
    Check your email
    We sent you the
    agent's contact details. yellow underline
    Can't find it?
    Please check your junk/spam folder.
    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!