Investment/Development 1/2 block

Retail-Commercial for Sale
Also listed as Multi-Family
Catylist Listing ID: 30457051
Property Subtypes: Mixed Use, Restaurant, Street Retail, Tavern/Bar/Nightclub
Building Size (RSF): 20,200 SF
Gross Building Area: 15,600 SF
Gross Land Area: 43,560 SF
Sale Price: $2,500,000
Unit Price: $123.76 PSF
Ceiling: 10 ft.
Property Use Type: Investment
Sale Terms: Cash to Seller
Cap Rate: Undisclosed
Last Updated: 9/16/2019

Overview / Comments

Investment/Development 1/2 block in University Place.
1/2 block to the North available for a larger development.
13 rented apartments on the 2nd floor.
Excellent Location between UNL/Wesleyan Universities.
5915 sq/ft of redevelopment apartments along Saint Paul Street
10 commercial bays with some long term leases in place.
High visibility, excellent frontage and ample parking.
14,211 sq/ft green space on the West for development as well.
Call agent for financials.

Attachments & Media

Financials

Finance Data Year 2019
Real Estate Taxes - Annual($) $18,679 (Annual)

Additional Details

Nearest MSA: Lincoln
County: Lancaster
Tax ID/APN: 1717120006000
Zoning: B3
Retail Clientele: General, Other
Property Located Between: 48th and 47th and Saint Paul
Property Visibility: Excellent
Largest Nearby Street: North 48th Street
Traffic/Vehicle Count: 29,310
Airports: Yes
Site Description: Commercial retail bays on the first floor with 10 renovated apartments on the second. Green space on the West end of the block and 5915 square feet of space to be redeveloped.
Area Description: Between two college campuses and on N 48th Street with very high traffic counts.
Tenancy: Multiple Tenants
Total Number of Buildings: 4
Number of Stories: 2
Property Condition: Good
Year Built: 1905
Year Renovated: 2001
Roof Type: Flat
Construction/Siding: Brick
Total Parking Spaces: 24
Parking Type: Surface
Parking Description: Parking in the back and a free city parking lot to the South with 56 parking spaces.
Sprinklers: None
Heat Type: Natural Gas
Heat Source: Central
Internet Access: Cable, Fiber Optic
Lot Frontage: 180
Water Service: Municipal
Sewer Type: Municipal
Legal Description: University Place, Lot 7-8 and Lang's Subdivision L9-12 B68, Lot A-I.

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Demographic Statistics

Proximity: 1 mile 3 miles 5 miles
Total Population: 15,641 112,309 194,541
Median Age: 31.15 32.36 33.78
Households: 6,606 46,321 79,814

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