Brick Duplex with Off-Street
New
For Sale
$199,900
3510 A Street 1 & 2, Lincoln, NE 68510
Fully leased two-unit property with shared laundry, rear parking, and landscaped outdoor space.
Property Size1,325 SF
Price / SF$150.87
Days on Market4
Property Features for 3510 A Street 1 & 2
General Information
Standard status
Active
Size
1,325 SF
Total Parking Spaces
2
Property subtype
Multi-Family
Occupancy
100%
Units
Unit Mix
2 x 1BR/1BA
Multifamily Units
2
Amenities
laundry area
green space
Building Details
Year Built
1958
Buildings
1
Construction
brick
Tenancy
Multi
Listing Agency:
Nebraska Realty
Listed By:
Ryan Downing
(308) 340-0581
Source:
Thatcheromaha
Added: Sep 19
Last Checked: Sep 21 at 10:17AM
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 Nebraska Realty
Investment Insights
Based on property information with market context.
Built in 1958, this 1,325-square-foot brick duplex contains two one-bedroom, one-bath units, each measuring over 600 SF. Laundry facilities are located in the lower-level common area, and both apartments are currently leased to long-term occupants who wish to remain. The property provides a practical residential income configuration with a total of two units.
Alley access leads to the rear of the building, where tenant parking is available. Two of the parking spaces are paved, and the property also includes green space that can serve as a shared outdoor area. Located on A Street in Lincoln, the duplex offers an established residential setting with convenient access from the alley.
Alley access leads to the rear of the building, where tenant parking is available. Two of the parking spaces are paved, and the property also includes green space that can serve as a shared outdoor area. Located on A Street in Lincoln, the duplex offers an established residential setting with convenient access from the alley.
Key Highlights
- Two‑unit brick duplex totaling 1,325 SF
- Each unit has over 600 SF with 1 bed and 1 bath
- Fully rented to long‑term tenants who want to stay
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
$13,147
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
6.58%
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%
$262,940
$262.9K
Cap Rate 7%
$187,814
$187.8K
Cap Rate 9%
$146,078
$146.1K
Market Conditions
NOI Build-Up for 1,325 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
$19.9K $15.00/SF
− Vacancy
−$1.1K −$0.83/SF
EGI
$18.8K $14.17/SF
− OpEx
−$5.6K −$4.25/SF
NOI
$13.1K $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%
$262,940
Cap Rate 7%
$187,814
Cap Rate 9%
$146,078
Alternative Uses
Best Use
Multifamily LT 5
$187.8K
$164.3K – $219.1K
NOI $13,147 @ 7.0% cap · market cap 6.58%
Second Best
Apartment 5plus
$174.5K
$152.7K – $203.5K
NOI $12,212 @ 7.0% cap · market cap 6.11%
Theoretical Best
Office A
$324.8K
$284.2K – $379.0K
NOI $22,738 @ 7.0% cap · market cap 11.37%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
2
Residential units
100%
Occupancy
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
582
Businesses Nearby
Explore this area
Business Placement
Demographics for 68510, NE
20,669
Population
9,871
Households
2.1
Avg Household Size
38
Median Age
40%
College-Educated
95%
High-School Grad
4.6 sq mi
ZIP Area
4,493
Density / Sq Mi
$64,183
Median Household Income
$41,632
Median Earnings
$857
Median Rent
$221,200
Median Home Value
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Multifamily in Midwest region
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Frequently Asked Questions
What type of property is this?
Duplex - Fully leased two-unit property with shared laundry, rear parking, and landscaped outdoor space.
Where is this duplex located?
The property is located at 3510 A Street 1 & 2 Lincoln, NE.
What is the asking price?
The asking price for this property is $199,900.
What are key features of this property?
This property features: Two‑unit brick duplex totaling 1,325 SF; Each unit has over 600 SF with 1 bed and 1 bath; Fully rented to long‑term tenants who want to stay
