Downtown Office Building

Office for Sale
Sale Pending
Catylist Listing ID: 30443858
Property Subtypes: Mixed Use, Office Building
Status: Pending
Building Size (RSF): 3,948 SF
Gross Building Area: 4,336 SF
Gross Land Area: 7,100 SF
Sale Price: $529,000
Unit Price: $133.99 PSF
In Opportunity Zone? Yes
Property Use Type: Investment
Usable Size (USF): 3,948 SF
Sale Terms: Cash to Seller
Cap Rate: Undisclosed
Last Updated: 7/18/2019

Overview / Comments

Currently Under Contract, but taking back up offers.

Here is a rare and exceptional opportunity for you to own your own multi-use building in Downtown Lincoln, NE. This unique property offers two office rental spaces along with two loft apartments and features seven off street parking spaces. Less than two blocks from the State Capitol & the City/County Government/Legal Complex as well as a short walk to the Hay Market District makes this a desired prime location!

Financials

Finance Data Year 2018
Real Estate Taxes - Annual($) $5,243 (Annual)
Tax Value Land $130,660
Tax Value Improvements $180,240
Assessed Value - Total($) $310,900 (Annual)
Potential Rental Income $57,998 (Annual)
Gross Operating Income $57,998 (Annual)
Net Operating Income $46,751 (Annual)
Actual or Proforma Year Actual

Additional Details

Nearest MSA: Lincoln
County: Lancaster
Taxing Authority: Lancaster
Tax ID/APN: 1026221013000
Zoning: B-4
Property Located Between: South 11th & South 12th Streests; North side of "K" Street
Property Visibility: Excellent
Highway Access: Near I-180 and I-80
Airports: Lincoln Municipal Airport
Site Description: Downtown Lincoln, NE; North side of K Street between South 11th & 12th Streets. Less than two blocks from the State Capitol & the City/County Government/Legal Complex as well as a short walk to the Hay Market District
Area Description: Prime downtown Lincoln, NE location with high "K" Street visibility Close walking distance to the State of Nebraska Capitol; City County Government; Hay Market; University of Nebraska-Lincoln
Total Number of Buildings: 1
Number of Stories: 3
Year Built: 1980
Roof Type: Other
Construction/Siding: Block, Wood Frame, Other
Parking Type: Surface
Parking Description: Off Street -Assigned parking spaces
Total Parking Spaces: 7
Sprinklers: None
Heat Type: Electricity
Heat Source: Heat Pump
Air Conditioning: Engineered System
Internet Access: Fiber Optic
Zoning Description: B4
Part of Planned Development?: Yes
Lot Frontage: 50
Lot Depth: 142
Water Service: Municipal
Sewer Type: Municipal
Easements: Utilities
Land Ownership: Owned
Legal Description: Lincoln Original, Block 99, Lot 9, W33 1/3' + E 1/2 Vac. Alley Adj., LLCN

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Demographic Statistics

Proximity: 1 mile 3 miles 5 miles
Total Population: 28,369 121,275 239,017
Median Age: 27.34 31.15 34.32
Households: 10,465 48,166 96,506

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