Multi Use Commercial/Multi-Family

Multi-Family for Sale
Sale Pending
Catylist Listing ID: 30716489
Property Subtypes: Mixed Use
Status: Pending
Number of Units: 9 Units
Building Size (RSF): 6,572 SF
Gross Land Area: 0.20 Acres
Sale Price: $450,000
Unit Price: $50,000 Per Unit
In Opportunity Zone? Yes
Property Use Type: Investment
Building Name: Antelope Grocery
Usable Size (USF): 6,572 SF
Sale Terms: Undisclosed
Cap Rate: Undisclosed
Average Occupancy Rate: 100
Last Updated: 4/19/2021

Overview / Comments

It's not often you get a chance to own a mixed-use property that is not only on the National Register of Historic Places but also a cash generating machine for your portfolio. Bringing in $4,950 per month, this beautiful English Tudor styled property, designed by architects Fiske and Meginnis, was originally the Antelope Grocery Store on the first floor with 6 apts upstairs. Be sure to notice the original stained-glass transoms throughout the building. There are now three commercial spaces on the first floor, two with long term tenants of over 35 years & four studio apts + two 1 bed units on the second. The entire building has been well updated over the years while maintaining much of the historic charm like original wood floors in 4 of the apts. Located just a few blocks from the vibrant Telegraph district & not far from downtown, this property has very seldom had any vacancies. Big ticket items like windows, roof & water heater have all been updated.

Financials

Finance Data Year 2021
Real Estate Taxes - Annual($) $6,276 (Annual)
Gross Operating Income $60,100 (Annual)
Net Operating Income $35,585 (Annual)
Actual or Proforma Year Actual

Additional Details

Nearest MSA: Lincoln
County: Lancaster
Taxing Authority: Lancaster County
Tax ID/APN: 1025244007000
Zoning: COMMERCIAL
Percent Occupied: 90%
Property Located Between: 24th & J Street
Site Description: Conveniently located in the heart of Lincoln near downtown.
Total Number of Buildings: 1
Property Condition: Good
Number of Stories: 2
Year Built: 1922
Year Renovated: 1986
Roof Type: Arched
Construction/Siding: Brick, Stucco
Exterior Description: Grand, historic building on National Registry.
Parking Type: Other
Parking Description: Street parking
Laundry: Shared
Sprinklers: None
Heat Type: Steam
Heat Source: Other
Fuel: Other
Air Conditioning: Window Unit, Other
Internet Access: Cable
Interior Description: Nicely updated over the years.
Lot Frontage: 124 feet
Lot Depth: 35 feet
Water Service: Municipal
Sewer Type: Municipal
Legal Description: Muirs Addn to J O Young East Lincoln, Blk 2, Lot 7

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Demographic Statistics

Proximity: 1 mile 3 miles 5 miles
Total Population: 35,419 137,926 234,691
Median Age: 28.49 32.82 34.42
Households: 13,317 56,566 94,921

Contact

Photograph of Listing Agent

Tyler Reynolds

Woods Bros Realty MRCIE Member
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