Updated Duplex with Fenced
New
For Sale
$299,000
15873 Us Hwy 75, Blair, NE 68008
One unit is leased through March 2027, while the second has undergone extensive interior updates.
Property Size2,524 SF
Lot Size0.59 Acres
Price / SF$118.46
Days on Market2
Property Features for 15873 Us Hwy 75
General Information
Standard status
Active
Size
2,524 SF
Lot size
0.59 Acres
Property subtype
Multi-Family
Additional Details
Highway Access
Yes
Multifamily Units
2
Amenities
fenced backyards
Building Details
Year Built
1900
Listing Agency:
Location Real Estate
Listed By:
Heidi Cline
(402) 350-9494
Source:
Tenaciousrealty
Added: Sep 21
Last Checked: Sep 21 at 5:41AM
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 Location Real Estate
Investment Insights
Based on property information with market context.
This two-unit residential income property sits on 0.59 acres and has received substantial improvements. Exterior work includes new siding and windows completed in 2026, along with grading, tree clearing, and a new white-gravel driveway. Both units have fenced backyards. The first unit has new flooring, paint, countertops, and appliances and is leased through March 2027. The second unit was recently vacated and updated with fresh paint throughout, refreshed flooring, a new refrigerator, new countertops, a tile backsplash, and a painted and epoxy-finished basement.
The property is located at 15873 US Hwy 75, just north of Blair and west of Hwy 75, near River Wilds Golf Club. Built in 1900, the duplex offers an established residential configuration with recent improvements to both the exterior and interior spaces.
The property is located at 15873 US Hwy 75, just north of Blair and west of Hwy 75, near River Wilds Golf Club. Built in 1900, the duplex offers an established residential configuration with recent improvements to both the exterior and interior spaces.
Key Highlights
- Two‑unit duplex on 0.59 acres
- Unit 1 leased through March 2027
- New siding and windows completed in 2026
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
$25,617
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
8.57%
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%
$512,340
$512.3K
Cap Rate 7%
$365,957
$366.0K
Cap Rate 9%
$284,633
$284.6K
Market Conditions
NOI Build-Up for 2,524 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
$50.0K $19.80/SF
− Vacancy
−$3.4K −$1.35/SF
EGI
$46.6K $18.45/SF
− OpEx
−$21.0K −$8.30/SF
NOI
$25.6K $10.15/SF
Area
Washington County, NE
Vacancy
6.80%
Lease Rate
$19.80 /SF/Yr
Expense Ratio
45.00%
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%
$512,340
Cap Rate 7%
$365,957
Cap Rate 9%
$284,633
Alternative Uses
Best Use
Multifamily LT 5
$410.6K
$359.3K – $479.1K
NOI $28,744 @ 7.0% cap · market cap 9.61%
Second Best
Apartment 5plus
$366.0K
$320.2K – $427.0K
NOI $25,617 @ 7.0% cap · market cap 8.57%
Theoretical Best
Office A
$663.1K
$580.2K – $773.6K
NOI $46,415 @ 7.0% cap · market cap 15.52%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
2
Residential units
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
1
Businesses Nearby
Explore this area
Business Placement
Demographics for 68008, NE
12,597
Population
5,289
Households
2.4
Avg Household Size
42
Median Age
39%
College-Educated
97%
High-School Grad
124.0 sq mi
ZIP Area
102
Density / Sq Mi
$86,905
Median Household Income
$54,588
Median Earnings
$933
Median Rent
$254,900
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 - One unit is leased through March 2027, while the second has undergone extensive interior updates.
Where is this duplex located?
The property is located at 15873 Us Hwy 75 Blair, NE.
What is the asking price?
The asking price for this property is $299,000.
What are key features of this property?
This property features: Two‑unit duplex on 0.59 acres; Unit 1 leased through March 2027; New siding and windows completed in 2026
