Add Listing
    For Sale
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    Back to Search
    Residential Land in Prairie District Title is generated by Realmo AI

    3584 Frank Street, Grand Island, NE 68803

    View on Map
    Claim this Listing
    Picture of Residential land & home lots at 3584 Frank Street, Grand Island, NE
    For Sale
    $110,000

    LAND - Grand Island, NE

    Lot size:
    0.38 Acres
    Added:
    Jan 3, 2025
    Days on Market:
    500
    Last Refresh:
    May 18 at 2:06 pm

    Property Features for 3584 Frank Street

    General Information

    Property type
    Land
    Property subtype
    Other
    Zoning
    R2
    Standard status
    Active
    APN
    400526428
    Lot size
    0.38 Acres

    Taxes and HOA fees

    Tax Year
    2024
    Tax Description
    Legacy 34 Sixth Subdivision Lot 17, Hall County, Grand Island, NE

    Utilities

    Sewer type
    Public Sewer
    Water source
    Public
    Water front
    1

    We can help!

    Listing Contact
    Karlie Santin

    Listing agent Karlie Santin

    Listing office Summit Real Estate 3568 Innate Ln, Suite E, Grand Island, NE

    Listing date Jan 3, 2025

    MLS# 20250022 Listing URL

    Copyright © 2026 Grand Island 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.

    Overview

    This residential land is located in Prairie District, a new residential community offering both lakefront and off-water homesites for custom homes. The property provides a setting to design a home that fits your lifestyle. Expansive homesites offer customization options with Exclusive Builders, allowing for the creation of a one-of-a-kind space. Lakefront lots provide locations for water views, while off-water lots offer privacy and flexibility. The community will be surrounded by scenic walking trails, lakeside parks, and easy access to shopping, dining, and major highways. The lot size is 0.375 acres. The zoning is R2. Exclusive Builders are Oseka Homes and Fox Construction. The property is located in Grand Island, NE.
    Location Intelligence

    Current Use by Public Records

    Residential land & home ...

    Map

    City
    Grand Island
    County
    Hall
    State
    Nebraska
    Longitude
    -98.3904052
    Latitude
    40.8904548

    Nearby Similar for Sale

    • $550,980

      Grand Island Vacant Land Opportunity

      27.55 acres ideal for logistics, warehousing, or mixed-use development.
      0 S. Shady Bend Road, Grand Island, NE 68801
      View Details
    • $944,000

      Grand Island Commercial Land Opportunity

      Prime commercial land near Walmart in Grand Island, Nebraska.
      3518 S Locust Street, Grand Island, NE 68801
      View Details
    • $275,000

      Residential Land Near Golf Course

      9.38 acre residential lot near Grand Island, Nebraska.
      0000 N Shady Bend Rd, Grand Island, NE 68801
      View Details
    • $390,000

      6-Acre Industrial Land Parcel

      6-acre M-2 zoned land parcel for industrial, commercial, logistics.
      1025 E Airport Rd, Grand Island, NE 68801
      View Details
    • $459,900

      Restaurant Building with Drive-Through

      Leased restaurant building with drive-through and rental increases.
      2504 S Locust St, Grand Island, NE, 68801-8226
      View Details
    • $230,000

      Grand Island Multifamily Investment Property

      Fully rented triplex in Grand Island with income potential.
      204-206- 206 1/2 E Ashton Ave, Grand Island, NE 68801
      View Details
    • $799,999
      3,672 SF

      Retail/Medical Space on Busy Corner

      White box shell ready for custom medical or retail buildout.
      1915 N Webb Rd, Grand Island, NE
      View Details
    • $350,000

      Fully Occupied Grand Island Multi-Family

      Five-unit multi-family property with garage in Grand Island, Nebraska.
      422 N Cleburn St, Grand Island, NE 68801
      View Details
    • $227,500

      Grand Island Industrial Land Parcel

      3.5-acre M-2 zoned land ideal for industrial operations.
      1203 E Airport Rd, Grand Island, NE 68801
      View Details
    • $27,000

      Residential Lot in Grand Island

      Residential lot in a new subdivision near parks and schools.
      952 Vandervoort Ave, Grand Island, NE 68801
      View Details
    • $27,000

      Residential Lot in Grand Island

      Residential lot in a new subdivision near parks and schools.
      960 Vandervoort Ave, Grand Island, NE 68801
      View Details
    • $54,500

      Residential Land Near Golf Course

      Residential land in desirable neighborhood near Indianhead Golf Course.
      4252 Turnberry Circle, Grand Island, NE 68803
      View Details

    FAQs

    What type of property is this?
    Residential land & home lot - Residential land for custom home in premier community.
    Where is this residential land & home lot located?
    The property is located at 3584 Frank Street Grand Island, NE.
    What is the asking price?
    The asking price for this property is $110,000.
    (308) 380-8306
    We can help!
    Listing Contact
    Karlie Santin
    Learn More
    Request Owner's contact information
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    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
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    Thank You for Inquiry
    3584 Frank Street, Grand Island, NE 68803
    letter with green check mark
    Check your email
    We sent you the
    agent's contact details. yellow underline
    Can't find it?
    Please check your junk/spam folder.
    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!