Multi-Unit Retail Strip
1501-1507 Galvin Rd S Bellevue, NE 68005
New
For Sale
$2,000,000
Built in 1979, this four-unit retail strip center offers flexible multi-building space in a BG-zoned property.
Property Size13,342 SF
Price / SF$149.90
Days on Market6
Property Features for 1501-1507 Galvin Rd S
General Information
Standard status
Active
Size
13,342 SF
Property subtype
Retail
Building Details
Year Built
1979
Listing Agency:
Access
(402) 618-5523
Listed By:
Amber Olson · License #20080192
(402) 618-5523
Source:
Nainpdodge
Added: Jul 25
Changed: Jul 26
Last Checked: Jul 30 at 3:24AM
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 Access
Investment Insights
Based on property information with market context.
Located at 1501-1507 Galvin Rd S in Bellevue, Nebraska, this built-in-1979 retail strip center comprises a spacious multi-building setup with four units. The property is described as well-maintained and configured to support multiple retail opportunities within the overall offering.
The center is zoned BG, and the seller’s remarks note strong positioning with access to major thoroughfares. The configuration also supports an owner-user approach for occupying a portion of the property while generating rental income from the remaining units, subject to lease-up and operating plans.
Overall, this is a flexible, multi-building retail asset designed around four separate units, providing options for investors and retailers seeking a structured, multi-tenant configuration in a BG-zoned location.
The center is zoned BG, and the seller’s remarks note strong positioning with access to major thoroughfares. The configuration also supports an owner-user approach for occupying a portion of the property while generating rental income from the remaining units, subject to lease-up and operating plans.
Overall, this is a flexible, multi-building retail asset designed around four separate units, providing options for investors and retailers seeking a structured, multi-tenant configuration in a BG-zoned location.
Key Highlights
- 4‑unit retail strip center built in 1979
- 13,460 SF building with four units in 4 buildings for flexible retail use
- BG‑zoned property offering versatile space for retail ventures
Financial Insights For Retail
Simulate Cap Rate and NOI
NOI Build-Up
- 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.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $245.0k | $18.36 |
| − Vacancy | −$10.8k | −$0.81 |
| EGI | $234.2k | $17.55 |
| − OpEx | −$70.3k | −$5.27 |
| NOI | $163.9k | $12.29 |
13,342 SF · lease $18.36/SF/yr · vacancy 4.40% · expense 30.00%
Alternative Uses
Best Use
Retail
$2.34M
$2.05M – $2.73M
NOI $163,927 @ 7.0% cap · market cap 8.20%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$3.58M
$3.13M – $4.18M
NOI $250,628 @ 7.0% cap · market cap 12.53%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Location Intelligence
Current Use
Frequently Asked Questions
What type of property is this?
Strip mall - Built in 1979, this four-unit retail strip center offers flexible multi-building space in a BG-zoned property.
Where is this strip mall located?
The property is located at 1501-1507 Galvin Rd S Bellevue, NE.
What is the asking price?
The asking price for this property is $2,000,000.
What are key features of this property?
This property features: 4‑unit retail strip center built in 1979; 13,460 SF building with four units in 4 buildings for flexible retail use; BG‑zoned property offering versatile space for retail ventures
