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    Live-Work Building with Residential Title is generated by Realmo AI

    122 W 4TH STREET, Alliance, NE 69301

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    For Sale
    $625,000

    RESIDENTIAL - Alliance, NE

    Property size:
    4,380 SF
    Price / SF:
    $142/SF
    Added:
    Feb 18, 2026
    Days on Market:
    107
    Last Refresh:
    Jun 5 at 6:06 pm

    Property Features for 122 W 4TH STREET

    General Information

    Property type
    Commercial Sale
    Property subtype
    Other
    Zoning
    Res/CO
    Parking features
    Garage
    Standard status
    Active
    APN
    070001014

    Taxes and HOA fees

    Tax Year
    2025
    Tax Annual Amount
    601.82

    Utilities

    Heating system
    Forced Air, Natural Gas
    Cooling system
    Central Air

    Building Details

    Floors in Building
    2
    Flooring type
    Concrete
    Building materials
    Brick
    Roof type
    Flat, Other
    Architectural style
    Other

    We can help!

    Listing Contact
    FORREST HICKMAN
    FORREST HICKMAN

    Listing agent FORREST HICKMAN

    Listing office NEBRASKA REALTY 2970 10th St. Ste. #6, Omaha, NE

    Listing date Feb 18, 2026

    MLS# 26993 Listing URL

    Copyright © 2026 Western Nebraska 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.

    HighLights

    • Completely renovated upstairs residence featuring 3 bedrooms, 2.5 bathrooms, and 4380 sq ft of living space.
    • Large commercial space with 4280 sq ft on the main floor and 2100 sq ft in the basement.
    • Zoned commercial for business use on the main floor and basement.
    • Dedicated office space and half bath on the commercial floor.
    • Large, dry basement with new lighting.
    • Central air conditioning.

    Overview

    This live-work property features a residential second level that was completely gutted and redone, offering a three-bedroom, two-and-a-half-bath home with 4,380 square feet of living space. The main floor and basement are both zoned for commercial use, with 4,280 square feet on the main level and 2,100 square feet in the basement. A dedicated office space and a half bath are included on the commercial side.

    Located in downtown Alliance, the building provides flexible space across multiple levels for a business with room to live above. The basement is described as large and dry, with new lighting installed.

    For tenants, buyers, or owner-operators seeking combined residential comfort and commercial flexibility, this configuration supports options to operate on the main floor and expand into the basement as needed. The remodeled upstairs residence may also be attractive for an end user who wants a finished home while maintaining commercial space below. Commercial zoning on both levels allows the property to accommodate business use according to the zoning designation shown as Res/CO.
    Property Profile Location Intelligence

    Current Use by Public Records

    Live-work space

    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.

    Location Insight

    • Map
    • Local Demand
    City
    Alliance
    County
    Box Butte
    State
    Nebraska
    Longitude
    -102.870037
    Latitude
    42.098257

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    FAQs

    What type of property is this?
    Live-work space - Downtown Alliance property with remodeled residence upstairs and commercial zoning on the main and basement levels.
    Where is this live-work space located?
    The property is located at 122 W 4TH STREET Alliance, NE.
    What is the asking price?
    The asking price for this property is $625,000.
    What are key features of this property?
    This property features: Completely renovated upstairs residence featuring 3 bedrooms, 2.5 bathrooms, and 4380 sq ft of living space.; Large commercial space with 4280 sq ft on the main floor and 2100 sq ft in the basement.; Zoned commercial for business use on the main floor and basement.
    (308) 763-1305
    We can help!
    Listing Contact
    FORREST HICKMAN
    FORREST HICKMAN
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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.

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