Side-by-Side Duplex with
For Sale
$490,000
3800 Pace Boulevard, Lincoln, NE 68502
Tenant-occupied property with two-bedroom layouts and attached parking for each residence.
Property Size2,914 SF
Price / SF$168.15
Days on Market37
Property Features for 3800 Pace Boulevard
General Information
Standard status
Active
Size
2,914 SF
Total Parking Spaces
4
Property subtype
Multi-Family
Units
Multifamily Units
2
Parking per Unit
2
Building Details
Year Built
1960
Buildings
1
Listing Agency:
Synergy Real Estate & Dev Corp
(402) 215-7383
Listed By:
All Metro Real Estate Group
(402) 215-7383
Source:
Homesforsaleomaha
Added: Jul 24
Changed: Aug 28
Last Checked: Aug 28 at 4:30PM
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 Synergy Real Estate & Dev Corp
Investment Insights
Based on property information with market context.
This side-by-side duplex contains two separate residences within 2,914 square feet. Each unit offers 2 bedrooms, 2 bathrooms, and an attached 2-stall garage, providing dedicated parking and additional storage. The property was built in 1960 and is currently tenant occupied.
Located in Lincoln, the duplex is near shopping, dining, parks, schools, and major roadways. The two-unit configuration and individual garages provide a straightforward residential income property format.
Located in Lincoln, the duplex is near shopping, dining, parks, schools, and major roadways. The two-unit configuration and individual garages provide a straightforward residential income property format.
Key Highlights
- Two‑unit side‑by‑side duplex totaling 2,914 square feet
- Each unit includes 2 bedrooms and 2 bathrooms
- Attached 2‑stall garage for each residence
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$28,914
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
5.90%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$578,280
$578.3K
Cap Rate 7%
$413,057
$413.1K
Cap Rate 9%
$321,267
$321.3K
Market Conditions
NOI Build-Up for 2,914 SF
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.
Gross rent
$43.7K $15.00/SF
− Vacancy
−$2.4K −$0.83/SF
EGI
$41.3K $14.17/SF
− OpEx
−$12.4K −$4.25/SF
NOI
$28.9K $9.92/SF
Area
Lincoln, NE
Vacancy
5.50%
Lease Rate
$15.00 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$578,280
Cap Rate 7%
$413,057
Cap Rate 9%
$321,267
Alternative Uses
Best Use
Multifamily LT 5
$413.1K
$361.4K – $481.9K
NOI $28,914 @ 7.0% cap · market cap 5.90%
Second Best
Apartment 5plus
$383.7K
$335.7K – $447.6K
NOI $26,858 @ 7.0% cap · market cap 5.48%
Theoretical Best
Office A
$714.4K
$625.1K – $833.5K
NOI $50,007 @ 7.0% cap · market cap 10.21%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
306
Businesses Nearby
Explore this area
Business Placement
Demographics for 68502, NE
27,238
Population
11,936
Households
2.3
Avg Household Size
36
Median Age
39%
College-Educated
90%
High-School Grad
6.7 sq mi
ZIP Area
4,065
Density / Sq Mi
$65,825
Median Household Income
$39,168
Median Earnings
$812
Median Rent
$220,500
Median Home Value
Market
Vacancy Rate% for Multifamily in Midwest region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Duplex - Tenant-occupied property with two-bedroom layouts and attached parking for each residence.
Where is this duplex located?
The property is located at 3800 Pace Boulevard Lincoln, NE.
What is the asking price?
The asking price for this property is $490,000.
What are key features of this property?
This property features: Two‑unit side‑by‑side duplex totaling 2,914 square feet; Each unit includes 2 bedrooms and 2 bathrooms; Attached 2‑stall garage for each residence
