Office Building with
For Sale
$160,000
2106 1ST AVENUE, Scottsbluff, NE 69361
COMMERCIAL/INDUSTRIAL, Scottsbluff, NE
Property Size1,408 SF
Price / SF$113.64
Days on Market189
Property Features for 2106 1ST AVENUE
General Information
Property type
Residential
Property subtype
Office
Subdivision
SCOTTSBLUFF
Standard status
Active
APN
010135596
Taxes and HOA fees
Tax Year
2023
Tax Description
C 1/3 SE TL 5 EXC N 7', BLK 30, NORTH SCOTTSBLUFF ADD
Tax Annual Amount
2026
Legal Description
C 1/3 SE TL 5 EXC N 7', BLK 30, NORTH SCOTTSBLUFF ADD
Utilities
Heating system
Natural Gas, Forced Air
Cooling system
Central Air
Building Details
Flooring type
Carpet
Building materials
Frame, Brick
Roof type
Flat
Listing Agency:
NEBRASKA REALTY
(402) 491-0100
Listed By:
CAITLIN COPAS · License #20170323
(308) 241-1664
Added: Mar 3
Changed: Sep 1
Last Checked: Sep 8 at 12:06PM
MLS# 27027
Copyright © 2026 Western Nebraska Board of REALTORS®. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
This 1,408-square-foot office property provides a practical layout for professional operations. The main level includes a conference or waiting area, a large naturally lit office, a second office, storage areas, a half bath, and a break area with kitchenette. A 348-square-foot basement adds storage capacity and includes a utility sink, furnace, and storm-shelter space.
The building has frame and brick construction, carpeted flooring, a flat roof, natural-gas forced-air heat, and central air conditioning. A two-car carport is positioned outside the rear entrance, with additional off-street parking available through the alley. The property is currently tax exempt.
The building has frame and brick construction, carpeted flooring, a flat roof, natural-gas forced-air heat, and central air conditioning. A two-car carport is positioned outside the rear entrance, with additional off-street parking available through the alley. The property is currently tax exempt.
Key Highlights
- 1,408‑square‑foot office building with a functional multi‑room layout
- 348‑square‑foot basement with utility sink, furnace, storage, and storm‑shelter space
- Conference or waiting area plus two offices
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$11,151
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
6.97%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$223,020
$223.0K
Cap Rate 7%
$159,300
$159.3K
Cap Rate 9%
$123,900
$123.9K
Market Conditions
NOI Build-Up for 1,408 SF
Vacancy — income lost from leasable area expected to sit empty during the year, subtracted from gross rent.
EGI (Effective Gross Income) — gross rent minus vacancy losses, the realistic income before paying operating costs.
OpEx (Operating Expenses) — recurring costs to operate the property (property tax, insurance, utilities, maintenance, management); excludes financing and capital improvements.
NOI (Net Operating Income) — income a property generates after operating costs but before financing and taxes.
Gross rent
$16.9K $12.00/SF
− Vacancy
−$2.0K −$1.44/SF
EGI
$14.9K $10.56/SF
− OpEx
−$3.7K −$2.64/SF
NOI
$11.2K $7.92/SF
Area
Scotts Bluff County, NE
Vacancy
12.00%
Lease Rate
$12.00 /SF/Yr
Expense Ratio
25.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$223,020
Cap Rate 7%
$159,300
Cap Rate 9%
$123,900
Alternative Uses
Best Use
Office B
$159.3K
$139.4K – $185.9K
NOI $11,151 @ 7.0% cap · market cap 6.97%
Second Best
—
—
no second resolved use
Theoretical Best
Healthcare Medical
$264.3K
$231.2K – $308.3K
NOI $18,499 @ 7.0% cap · market cap 11.56%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
857
Businesses Nearby
Explore this area
Business Placement
Demographics for 69361, NE
17,526
Population
7,750
Households
2.3
Avg Household Size
39
Median Age
27%
College-Educated
90%
High-School Grad
237.8 sq mi
ZIP Area
74
Density / Sq Mi
$55,531
Median Household Income
$38,160
Median Earnings
$949
Median Rent
$154,400
Median Home Value
Market
Vacancy Rate% for Office in Midwest region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Office units - Office property with multiple work areas, a kitchenette, central air, and rear parking access.
Where is this office units located?
The property is located at 2106 1ST AVENUE Scottsbluff, NE.
What is the asking price?
The asking price for this property is $160,000.
What are key features of this property?
This property features: 1,408‑square‑foot office building with a functional multi‑room layout; 348‑square‑foot basement with utility sink, furnace, storage, and storm‑shelter space; Conference or waiting area plus two offices
