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    219 MAIN ST Chadron, NE 69337

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    For Sale
    $220,000

    Commercial Building - Chadron, NE

    Property size:
    7,750 SF
    Lot size:
    0.11 Acres
    Added:
    Oct 29, 2025
    Days on Market:
    183
    Last Refresh:
    Apr 29 at 4:06 pm

    Property Features for 219 MAIN ST

    General Information

    Property type
    Commercial Sale
    Property subtype
    Other
    Zoning
    200
    Parking features
    Garage
    Standard status
    Active
    APN
    230004729
    Size
    7,750 SF
    Lot size
    0.11 Acres

    Taxes and HOA fees

    Tax Annual Amount
    0

    Building Details

    Year built
    1888
    Year renovated
    1888
    Architectural style
    Other

    We can help!

    Listing Contact
    Thomas Wiles

    Listing agent Thomas Wiles

    Listing office #1 Properties Ranch and Recreation, LLC 6106 Yellowstone Road, Cheyenne, NE

    Listing date Oct 29, 2025

    MLS# 11634676 Listing URL

    Copyright © 2026 My State MLS. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.

    Overview

    Downtown Chadron Commercial Building

    Located in the heart of historic downtown Chadron, this three-unit commercial building offers an outstanding opportunity for investors or owner-operators. All three main-level units are currently leased to long-standing local businesses, combining immediate rental income with future development potential. The property has seen extensive updates and modernization while still maintaining its original downtown character. The building features three distinct commercial units, providing flexibility for retail, office, or service businesses. One unit is occupied by a flower and gift shop, another is leased to a full-service salon, and the third is newly leased. The main level was remodeled in 2020, creating an updated, functional, and visually appealing space for tenants. The upper level offers even more upside potential, with room to develop two residential apartments. The upstairs windows were replaced approximately eight years ago. In summer 2023, two brand-new HVAC systems and rooftop A/C units were installed. The property sits on a 50' x 100' lot and features approximately 7,750 sq. ft. of finished and basement space. Chadron is a friendly, thriving community that blends small-town charm with modern amenities and serves as the commercial and cultural hub of the northern Panhandle. The property offers the perfect combination of historic charm, modern upgrades, and excellent income potential. With three strong tenants already in place, and future expansion opportunities upstairs, this is a rare find in the Chadron market.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Bloom Flowers & Gifts (Bike/Boat/Book/etc) Store Urwin Enterprises (Bike/Boat/Book/etc) Store

    Suggested Use

    Real Estate Agency Restaurant Law Firm Spa & Massage Center Dental Office Hair Salon Nail Salon Building Supply Auto Repair Shop Gym & Fitness Center

    Zoning and permitted uses should be independently verified with local authorities.

    Similar Places Nearby

    • Bloom Flowers & Gifts — 219 Main St, Chadron, NE 69337

    Location Insight

    • Map
    • Local Demand
    City
    Chadron
    County
    Dawes
    State
    Nebraska
    Longitude
    -103.000908
    Latitude
    42.83061

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    FAQs

    What type of property is this?
    Storefront property - Three-unit commercial building in historic downtown Chadron, Nebraska.
    Where is this storefront property located?
    The property is located at 219 MAIN ST Chadron, NE.
    What is the asking price?
    The asking price for this property is $220,000.
    What are key features of this property?
    This property features: Three established commercial tenants provide immediate rental income.; Prime Main Street location with **high visibility and foot traffic.**; Updated infrastructure includes **new HVAC systems (2023) and a remodeled main level (2020).**
    (308) 360-2030
    We can help!
    Listing Contact
    Thomas Wiles
    Learn More
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    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
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