Investment Opportunity-6.75% Cap Rate

Retail-Commercial for Sale
Sale Pending
Catylist Listing ID: 30664867
Property Subtypes: Free-Standing Building
Status: Pending
Building Size (RSF): 30,643 SF
Gross Building Area: See Agent
Gross Land Area: 2.58 Acres
Sale Price: $1,588,896
Unit Price: $51.85 PSF
Property Use Type: Net Leased Investment (NNN), Investment
Building Name: Russ's Market
Sale Terms: Cash to Seller
Cap Rate: 6.75%
Average Occupancy Rate: 100
Last Updated: 11/16/2020

Overview / Comments

This is a fully leased investment opportunity in Lincoln, NE. Russ’s Market, a banner store under B & R Stores, Inc., has recently renewed its lease until January 2028. This property is offered at a 6.75% Cap Rate with a NNN lease, owner is responsible for roof replacement costs. On the premises is a separate building in which a fast-food restaurant, Amigos, operates. Amigos subleases this location from the tenant.

This site contains a 30,643 SF building on a 2.58-acre lot. It is zoned B-3 and has frontage on Havelock Ave., the neighborhoods primary commercial corridor. Havelock neighborhood is an established neighborhood in which Russ’s is the primary grocery provider. The site is a couple of blocks from a large employer, Burlington Northern Santa Fe Railroad (BNSF).

B&R Stores, Inc., was founded in 1964 by Russ Raybould. The employee-owned company has grown to become Lincoln’s dominant grocer and includes 20 stores under several banners including Russ’s Market, Super Saver, and Apple Market located in Nebraska and Iowa.

Attachments & Media

Current Tenants

Tenant Business Name Russ's Market
Is Renting? Yes

Additional Details

Nearest MSA: Lincoln
County: Lancaster
Tax ID/APN: 1704408013000
Zoning: B-3
Property Visibility: Excellent
Largest Nearby Street: Havelock Ave
Tenancy: Single Tenant
Year Built: 1981
Total Parking Spaces: 103

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Demographic Statistics

Proximity: 1 mile 3 miles 5 miles
Total Population: 8,210 65,790 155,549
Median Age: 36.1 32.6 32.91
Households: 3,811 28,194 64,087

Contact

Photograph of Listing Agent

Thomas Graf, CCIM

NAI FMA Realty MRCIE Member
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