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    354 N Chestnut St Wahoo, NE 68066

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    Vacant restaurant building with drive-thru on a 0.817-acre parcel.

    Type:Vacant-User
    Property size:
    4,104 SF
    Lot size:
    0.82 Acres
    Price / SF:
    $0.00/SF
    Added:
    Apr 3, 2026
    Days on Market:
    20
    Last Refresh:
    Apr 3 at 4:55 am

    Property Features for 354 N Chestnut St

    General Information

    Standard status
    Active
    Size
    4,104 SF
    Lot size
    0.82 Acres
    Property subtype
    Vacant-User

    Building Details

    Year Built
    1990

    We can help!

    Listing Contact
    Philip Kates

    Listing agent Philip Kates License #License(s): FL: SL3235872

    Listing office Fort Lauderdale Office

    Listing date Apr 3, 2026

    Source Marcusmillichap

    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 Fort Lauderdale Office

    Overview

    Wahoo Restaurant Building with Drive-Thru

    The property is a vacant, free-standing, second-generation restaurant/retail building located in Wahoo, Saunders County, Nebraska. Constructed in 1990, the single-story building is 4,104 square feet and includes an existing drive-thru. The 0.817-acre parcel has a concrete surface parking lot with 38 spaces and is positioned on a hard corner with frontage along three roads, providing multiple points of ingress and egress. The property has approximately 265 feet of frontage along North Chestnut Street, a primary retail and commuter corridor with traffic exposure. The site is located less than 1-mile from US-77, offering regional connectivity within a well-established retail corridor. Zoned C-1, Downtown Commercial District, the site permits a broad range of retail, restaurant, and service-oriented uses. The property is located in Wahoo, the county seat of Saunders County, and benefits from local visibility and consistent daily traffic. It is located less than 1-mile from US-77, offering convenient regional connectivity to nearby cities. Nearby demand drivers include Saunders Medical Center, Wahoo Public Schools, and the Saunders County Courthouse. The property benefits from strong accessibility and a pedestrian-friendly setting. The surrounding trade area includes approximately 6,309 residents within a 5-mile radius.
    Location Intelligence

    Current Use by Public Records

    Burger King Restaurant Hughes Network Systems ... Security Service

    Suggested Use

    Restaurant Real Estate Agency Law Firm Building Supply Spa & Massage Center Dental Office Auto Repair Shop Hair Salon Nail Salon Hotel & Motel

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

    Location Insight

    • Map
    • Local Demand
    City
    Wahoo
    County
    Saunders
    State
    Nebraska
    Longitude
    -96.62249
    Latitude
    41.209651

    Nearby Similar for Sale

    • $1,000,000
      16,200 SF

      Retail Property with Additional Lot

      Retail property with lease in place and additional lot.
      465 North Broadway Street, Wahoo, NE, 68066
      View Details
    • $150,000
      4,104 SF

      Vacant Restaurant Building with Drive-Thru

      Freestanding 4,104 SF restaurant on 0.82 acres in Wahoo, NE.
      354 N Chestnut St, Wahoo, NE 68066
      View Details
    • $1,993,750

      Farms/Ranches - Wahoo, NE

      Farms/Ranches in Wahoo, NE with development potential.
      0 HWY 77 & County Road I, Wahoo, NE 68066
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    FAQs

    What type of property is this?
    Drive through restaurant - Vacant restaurant building with drive-thru on a 0.817-acre parcel.
    Where is this drive through restaurant located?
    The property is located at 354 N Chestnut St Wahoo, NE.
    What is the asking price?
    The asking price for this property is Off market.
    What are key features of this property?
    This property features: Significantly below replacement cost, a compelling opportunity.; Vacant, free‑standing restaurant/retail building with drive‑thru.; **Located on a hard corner with frontage on three roads, providing high visibility.**
    (954) 245-3408
    We can help!
    Listing Contact
    Philip Kates
    Real Estate License ID: License(s): FL: SL3235872
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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.

    More about this property
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