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    345 N 23Rd St Lincoln, NE 68503

    For Sale
    $292,640

    99-year ground lease with annual rental increases.

    Property size:
    3,193 SF
    Lot size:
    0.23 Acres

    Property Features for 345 N 23Rd St

    General Information

    Size
    3,193 SF
    Lot size
    0.23 Acres

    Source: Woods Bros Realty Agent Joe Mara

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

    Overview

    NNN Ground Lease Opportunity

    This property features a 99-year ground lease that commenced on July 1, 2021. The lease is structured as an absolute NNN, meaning there are no landlord responsibilities or expenses. As of July 1, 2025, the monthly rent is $1585.14. The annual rental increases are the greater of 2% or the consumer price index. The property is improved with a mixed-use building valued at $3,750,000, which includes both retail and housing components. The price reflects a 6% cap rate, which is advantageous for a ground lease with rate escalations. These rate increases are annual and compounding. The property itself is unencumbered and not subject to any debt related to the improvements. The property size is 3193 square feet.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Commercial land

    Suggested Use

    Realty agency Law Firm Restaurant Spa & Massage Dental Office Hair Salon Nail Salon Gym & Fitness Accounting Firm Kitchen & Bath

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

    Location Insight

    • Map
    • Local Demand
    City
    Lincoln
    County
    Lancaster
    State
    Nebraska
    Longitude
    -96.7538692
    Latitude
    40.8163969

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    FAQs

    What type of property is this?
    Commercial land - 99-year ground lease with annual rental increases.
    Where is this commercial land located?
    The property is located at 345 N 23Rd St Lincoln, NE.
    What is the asking price?
    The asking price for this property is $292,640.
    What are key features of this property?
    This property features: - High-Value Mixed-Use Building: Improved with a $3,750,000 mixed-use building including retail and housing.; - Attractive Cap Rate: Priced at a 6% cap rate, excellent for a ground lease.; - Annual Rental Increases: Features annual rental increases of 2% or the Consumer Price Index, whichever is greater.
    (402) 304-0540
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    345 N 23Rd St Lincoln, NE 68503
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    Lincoln, NE 68503
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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
    345 N 23Rd St Lincoln, NE 68503
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