102 Philip AveNorth Platte, NE 69101

Property Details for 102 Philip Ave

Year built

2009

Lot size

1.56 AC

Property size (Sq ft)

14,739 SF

Zone code

COMMERCIAL

Property type

Retail space

APN

0017495.60

APU

1749560

Description

This exceptional investment opportunity presents a fee-simple, absolute NNN leased Walgreens in North Platte, Nebraska. The 14,812 square foot property, built in 2009 and situated on a 1.56-acre lot at 102 E Philip Ave (zip code 69101), boasts a strong 7.85% cap rate and a substantial NOI of $405,043. The lease with Walgreens, the only national chain drugstore within a 100-mile radius, extends until January 31, 2035, offering a remaining term of 10.2 years. The property benefits from its location near major transportation arteries (I-80, Hwy-30, Hwy-83), a large regional trade area, and proximity to significant developments such as the $75 million District 177 mixed-use project (including retail and residential components) across the street and the Great Plains Health Hospital (116 beds, 1,000+ employees, 183,000 monthly patient encounters) less than a mile away. Further enhancing the investment's appeal is its location near Union Pacific's Bailey Yard and the upcoming Sustainable Beef facility, projected to add 875 jobs. The property's high occupancy (100%) and exceptional sales history make it a compelling investment with significant long-term potential. The asking price is $5,159,783, translating to a price per square foot of $348.35.

• CAP approach

  CAP return

  Valuation

  6%

  $4,066,680

  6.5%

  $3,753,858

  7%

  $3,485,726

• Comparable approach

  Method

  Valuation

  Relative Method

  $7,286,148

  Geo Method

  $3,068,695

• Alternative Use

  Use

  Valuation

  Residential

  $3,166,520

  Hospitality

  $2,900,515

  Educational

  $2,413,195

  Medical

  $2,496,188

  Retail

  $3,753,858

Location Insight

City

North Platte

County

Lincoln

State

Nebraska

Latitude

41.1257

Longitude

-100.763

CBSA code

35820

CBSA name

NORTH PLATTE, NE MICROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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