3501 Locust StGrand Island, NE 68801

Property Details for 3501 Locust St

Year built

2005

Lot size

20.15 AC

Property size (Sq ft)

9,048 SF

Zone code

03-COMMERCIAL

Property type

Retail space

APN

400467127

APU

400467127

Description

This exceptional 1.04-acre commercial land parcel presents a unique investment opportunity in the thriving Southeast Grand Island area. Located at 3501 S Locust St, this property boasts a highly desirable Commercial District zoning designation, allowing for a wide range of development possibilities. The site is strategically positioned as a Walmart Outlot, benefiting from the significant traffic and visibility generated by the adjacent Walmart Supercenter. Potential uses include retail establishments, service facilities, or restaurants, including those with drive-thru capabilities. This location offers unparalleled access to a substantial customer base, ensuring strong potential for return on investment. Furthermore, its proximity to Fonner Park and the Nebraska State Fairgrounds provides additional exposure to a large seasonal influx of visitors. The property is situated in a rapidly growing area of Grand Island, Hall County, Nebraska, zip code 68801, making it an attractive proposition for businesses seeking to establish a presence in a dynamic and expanding market. This is a rare opportunity to acquire a well-located, commercially zoned lot with significant development potential. Don't miss out on this exceptional chance to secure a prime piece of real estate in a high-traffic area.

• CAP approach

  CAP return

  Valuation

  6%

  $2,651,197

  6.5%

  $2,447,258

  7%

  $2,272,454

• Comparable approach

  Method

  Valuation

  Relative Method

  $2,743,412

  Geo Method

  $2,743,412

• Alternative Use

  Use

  Valuation

  Residential

  $2,064,354

  Hospitality

  $1,890,937

  Educational

  $1,573,238

  Medical

  $1,627,344

  Retail

  $2,447,258

Location Insight

City

Grand Island

County

Hall

State

Nebraska

Latitude

40.8856

Longitude

-98.3368

CBSA code

24260

CBSA name

GRAND ISLAND, NE MICROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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