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    501 N Madison St Lexington, NE 68850

    For Sale
    $650,000

    Commercial - Lexington, NE

    Property size:
    2,358 SF
    Days on Market:
    226
    Last Refresh:
    Dec 12 at 9:06 am

    Property Features for 501 N Madison St

    General Information

    Property type
    Commercial Sale
    Property subtype
    Other
    Standard status
    Active
    Rooms
    Bathroom 1, Bathroom 2
    Bathrooms
    2
    APN
    000000-000.000-0032-010.000
    Parking features
    Garage
    Size
    2,358 SF

    Building Details

    Year built
    1978
    Year renovated
    1978
    Floors in Building
    1
    Roof type
    Asphalt
    Architectural style
    Other

    Marshall Land Brokers and Auctioneers (308) 234-6266

    Listing agent Clay Patton (308) 234-6266

    Listing date May 1, 2025

    MLS# 11449250 Listing URL

    Copyright © 2025 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

    Prime Lexington Commercial Opportunity

    This commercial offering features two adjacent properties situated in a high-visibility location near Highway 30 in Lexington, Nebraska, presenting an opportunity for restaurant, retail, or redevelopment ventures. One of the properties, located at 501 N. Madison St., includes a 2,358-square-foot commercial building situated on an approximately 20,000-square-foot lot. Currently operating as a restaurant, the space features a commercial kitchen and dining area. All branded inventory, equipment, and signage will be removed prior to transfer. The adjacent property, located at 309 W. 5th St., features a 1,436-square-foot, two-story Craftsman-style home on an approximately 10,500-square-foot lot. This property offers potential for renovation or redevelopment. Together, these properties provide a versatile investment opportunity in a prime location. The properties can continue as a restaurant, be repurposed for a different business use, or undergo redevelopment.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Taco John's Fast Food Restaurant

    Suggested Use

    Realty agency Law Firm Restaurant Spa & Massage Dental Office Hair Salon Nail Salon Clothing Store Building Supply Gym & Fitness

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

    Similar Places Nearby

    Bob's FUNFOODS

    Location Insight

    • Map
    • Local Demand
    City
    Lexington
    County
    Dawson
    State
    Nebraska
    Longitude
    -99.744677
    Latitude
    40.778094

    FAQs

    What type of property is this?
    Restaurant - Two adjacent properties ideal for restaurant, retail, or redevelopment.
    Where is this restaurant located?
    The property is located at 501 N Madison St Lexington, NE.
    What is the asking price?
    The asking price for this property is $650,000.
    What are key features of this property?
    This property features: - High-visibility location off Highway 30 in Lexington, Nebraska; - Two adjacent properties offering versatile investment options; - 501 N. Madison St.: **2,358 sq ft commercial building on a 20,000 sq ft lot**, currently operating as a restaurant with commercial kitchen and dining space
    (308) 234-6266
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    Lexington, NE 68850
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    Realmo Value Estimation

    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.

    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.

    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
    501 N Madison St Lexington, NE 68850
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