620 48Th StLincoln, NE 68504

Property Details for 620 48Th St

Year built

1960

Lot size

0.01 AC

Property size (Sq ft)

2,739 SF

Zone code

B2

Property type

Office properties

APN

17-20-400-008-001

APU

1720400008001

Description

This exceptional three-story office building, located at 620 North 48th Street in Lincoln, Nebraska, presents a compelling investment opportunity. Priced at $2,200,000, the property boasts a substantial 36,742 square feet of leasable space, perfectly suited for a variety of professional and non-profit office users. The building's B-2 zoning, within the Planned Neighborhood Business District, allows for a range of commercial uses. Its strategic location in the 48th & O Street trade area offers unparalleled convenience, with close proximity to the Centro Plaza shopping center, numerous restaurants and retailers, and easy access to both downtown Lincoln (under 10 minutes) and Gateway Mall (under 5 minutes). The property features a shared parking arrangement with the adjacent shopping center, ensuring ample parking for tenants and visitors. An attractive interior courtyard enhances the building's appeal by providing abundant natural light. The current tenant mix offers a solid foundation, with significant upside potential for increased occupancy and rental income. This well-positioned asset represents a rare opportunity to acquire a substantial office building in a thriving Lincoln neighborhood. The property's central location, ample parking, and attractive features make it an ideal investment for discerning buyers seeking strong returns in a desirable market.

• CAP approach

  CAP return

  Valuation

  6%

  $506,082

  6.5%

  $467,153

  7%

  $433,784

• Comparable approach

  Method

  Valuation

  Relative Method

  $195,921

  Geo Method

  $195,921

• Alternative Use

  Use

  Valuation

  Residential

  $579,269

  Hospitality

  $530,607

  Educational

  $441,459

  Medical

  $456,642

  Retail

  $686,714

Location Insight

City

Lincoln

County

Lancaster

State

Nebraska

Latitude

40.8194

Longitude

-96.6532

CBSA code

30700

CBSA name

LINCOLN, NE METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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