Add Listing
    For Sale
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    Back to Search
    Spacious Two-Story Building in Lincoln Title is generated by Realmo AI

    201 S 68th Street Pl, Lincoln, NE

    View on Map
    Claim this Listing
    For Sale
    Contact for pricing

    22,395 SF building on 2.33 AC lot in Lincoln.

    Type:OFFICE
    Property size:
    22,395 SF
    Lot size:
    2.33 Acres
    Price / SF:
    $169/SF
    Added:
    Jan 31, 2024
    Days on Market:
    855
    Last Refresh:
    May 20 at 9:03 pm

    Property Features for 201 S 68th Street Pl

    General Information

    Standard status
    Active
    Size
    22,395 SF
    Lot size
    2.33 Acres
    Property subtype
    OFFICE

    We can help!

    Listing Contact
    Mike Ball
    Mike Ball

    Listing agent Mike Ball

    Listing office NAI FMA Realty

    Listing date Jan 31, 2024

    Source Moodyscre

    Displayed information is deemed reliable but is not guaranteed and should be independently verified.

    All listing content including descriptions, pricing, images are the copyrighted material of NAI FMA Realty

    HighLights

    • Spacious 22,395 SF building on a 2.33 AC lot.
    • Functional layout allows for single‑tenant or multi‑tenant occupancy.
    • Vacant and ready for customization.
    • Conveniently located near major arterial streets, medical centers, and a mix of residential and commercial developments.
    • Well‑maintained parking lot with a drive‑up covered entrance.
    • Remodeled in 2004, 2006, and 2019.

    Overview

    This two-story building offers 22,395 square feet of space on a 2.33-acre lot, suitable for various business types. Constructed in 1995 and remodeled in 2004, 2006, and 2019, the building's design incorporates functionality and aesthetics for modern medical office space. The functional layout can accommodate different user needs, with parking available for customers and employees. The property is located in Lincoln, near major arterial streets, medical centers, and a mix of residential and commercial developments. The layout allows for single-tenant occupancy or multiple tenants sharing the space. The building is currently vacant, allowing for customization to suit specific requirements such as a clinic, surgery center, or administrative offices. The layout includes exam rooms, waiting areas, administrative offices, and treatment rooms. A well-maintained parking lot with a drive-up covered entrance ensures convenience for patients, staff, and visitors. The property is suitable for a solo practitioner, a group practice, or an investor.

    Local Financial Insights For Healthcare Medical

    Simulate Cap Rate and NOI

    NOI Build-Up
    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.

    Component $ $/SF
    Gross rent $537.5k $24.00
    − Vacancy −$37.6k −$1.68
    EGI $499.9k $22.32
    − OpEx −$199.9k −$8.93
    NOI $299.9k $13.39
    22,395 SF · lease $24.00/SF/yr · vacancy 7.00% · expense 40.00%

    Alternative Uses

    Best Use
    Healthcare Medical
    $4.28M
    $3.75M – $5.00M (±1% cap)
    NOI $299,914 @ 7.0% cap · market cap 7.90%
    Second Best
    Office B
    $4.03M
    $3.53M – $4.70M (±1% cap)
    NOI $282,177 @ 7.0% cap · market cap 7.44%
    Theoretical Best
    Office A
    $5.49M
    $4.80M – $6.41M (±1% cap)
    NOI $384,320 @ 7.0% cap · market cap 10.13%
    Zoning and permitted uses should be independently verified with local authorities.
    Property Profile Location Intelligence

    Current Use by Public Records

    Dr. Joni Tilford Physician Cancer Partners of Nebraska Physician Dr. Scott Mcham Physician Korinne N. Riley, ... Physician Tara Benes Physician

    Suggested Use

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

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

    Similar Places Nearby

    • Capitol Animal Clinic PC — 633 N 66th St, Lincoln, NE 68505
    • Clock Tower Animal Clinic — 520 N 66th St, Lincoln, NE 68505
    • Wiedel Kylie — 520 N 66th St, Lincoln, NE 68505
    • Hall Linda DVM — 633 N 66th St, Lincoln, NE 68505, United States

    Location Insight

    • Map
    • Local Demand
    City
    Lincoln
    County
    Lancaster
    State
    Nebraska
    Longitude
    -96.6285
    Latitude
    40.811

    Nearby Similar for Sale

    • $525,000

      Lincoln 4-Plex Investment Opportunity

      Fully leased, updated 4-plex near universities in Lincoln, Nebraska.
      4210 Huntington Avenue, Lincoln, NE 68504
      View Details
    • $529,000

      Turnkey 4-Plex Investment Property

      Turnkey, cash-flowing 4-unit property near Nebraska Wesleyan University.
      4220 Huntington Avenue, Lincoln, NE 68504
      View Details
    • $505,000

      Lincoln Multifamily Investment Opportunity

      Six-unit multifamily property with upside potential near downtown Lincoln.
      2100 F Street, Lincoln, NE 68510
      View Details
    • $850,000
      5,130 SF

      Downtown Flex Building with Overhead Door

      Versatile 5,130 SF flex building in Downtown Lincoln.
      1029 M St, Lincoln, NE 68508
      View Details
    • $199,950

      Cash-Flowing Duplex Investment Opportunity

      Multi-level duplex perfect for investors or owner-occupants.
      2815 N Street, Lincoln, NE 68510
      View Details
    • $725,000

      Lincoln 10-Plex Investment Opportunity

      Well-maintained 10-unit multi-family property in a prime location.
      611 S 20th Street, Lincoln, NE 68510
      View Details
    • $725,000
      2,709 SF

      Lincoln Retail NNN Investment Opportunity

      Single-tenant NNN retail property in Lincoln, Nebraska for sale.
      2811 N 48th St, Lincoln, NE 68504
      View Details
    • $312,000
      1,904 SF

      Lincoln Fourplex Near University Campus

      Well-maintained fourplex near university campuses and downtown Lincoln.
      2726 W Street, Lincoln, NE 68503
      View Details
    • $240,000

      Lincoln Multifamily Investment Opportunity

      Four-unit multifamily property near Cornhusker Hwy and interstate.
      2516 NW 8th Street, Lincoln, NE 68521
      View Details
    • $990,000
      5,664 SF

      High-Visibility Retail Opportunity in Lincoln

      Freestanding retail building with high traffic and flexible zoning.
      800 N 27TH ST, LINCOLN, NE
      View Details
    • $1,050,000
      7,500 SF

      Office/Warehouse Mix Near Interstate 80

      Office and warehouse spaces available near Interstate 80.
      301 NW 27th St, Lincoln, NE 68528
      View Details
    • $305,000
      2,400 SF

      Functional Office Condo For Sale

      2,400 SF office condo in Lincoln's Trade Center.
      5901 S. 58th St., Suite D, Lincoln, NE, Lincoln, NE 68516
      View Details

    FAQs

    What type of property is this?
    Medical Office Space - 22,395 SF building on 2.33 AC lot in Lincoln.
    Where is this medical office space located?
    The property is located at 201 S 68th Street Pl Lincoln, NE.
    What is the asking price?
    The asking price for this property is $3,795,000.
    What are key features of this property?
    This property features: Spacious 22,395 SF building on a 2.33 AC lot.; Functional layout allows for single‑tenant or multi‑tenant occupancy.; Vacant and ready for customization.
    (402) 730-2205 Call to check price and availability
    We can help!
    Contact for Pricing
    Please call us for current price
    and status of this listing Mike Ball
    Mike Ball
    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
    201 S 68th Street Pl, Lincoln, NE
    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!