Commercial Storefront
For Sale
Contact for pricing
1635 Washington Street, Blair, NE 68008
Storefront commercial property with a Washington Street address in Blair.
Property Size2,400 SF
Price / SF$131.25
Days on Market92
Property Features for 1635 Washington Street
General Information
Standard status
Active
Size
2,400 SF
Property subtype
Retail, Office
Zoning
Commercial
Investment Type
Owner/User
Building Details
Year Renovated
2020
Buildings
1
Stories
1
Listing Agency:
Nebraska Realty
(402) 510-2008
Listed By:
Samantha Wehrli · License #20210645
Source:
Crexi
Added: Jun 1
Changed: Aug 31
Last Checked: Aug 31 at 1:40AM
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.
This commercial storefront property is located at 1635 Washington Street in Blair, Nebraska. The property carries Commercial zoning and is offered for sale.
Key Highlights
- Commercial zoning
- Storefront property classification
- 1635 Washington Street address in Blair, NE 68008
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
$27,972
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
8.88%
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%
$559,440
$559.4K
Cap Rate 7%
$399,600
$399.6K
Cap Rate 9%
$310,800
$310.8K
Market Conditions
NOI Build-Up for 2,400 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
$43.2K $18.00/SF
− Vacancy
−$3.2K −$1.35/SF
EGI
$40.0K $16.65/SF
− OpEx
−$12.0K −$5.00/SF
NOI
$28.0K $11.66/SF
Area
Washington County, NE
Vacancy
7.50%
Lease Rate
$18.00 /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%
$559,440
Cap Rate 7%
$399,600
Cap Rate 9%
$310,800
Alternative Uses
Best Use
Office B
$566.8K
$495.9K – $661.2K
NOI $39,674 @ 7.0% cap · market cap 12.59%
Second Best
Retail
$399.6K
$349.7K – $466.2K
NOI $27,972 @ 7.0% cap · market cap 8.88%
Theoretical Best
Office A
$630.5K
$551.7K – $735.6K
NOI $44,135 @ 7.0% cap · market cap 14.01%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
598
Businesses Nearby
Under-served
Demand for This Use
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
Market
Vacancy Rate% for Office in Midwest region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Storefront property - Storefront commercial property with a Washington Street address in Blair.
Where is this storefront property located?
The property is located at 1635 Washington Street Blair, NE.
What is the asking price?
The asking price for this property is $315,000.
What are key features of this property?
This property features: Commercial zoning; Storefront property classification; 1635 Washington Street address in Blair, NE 68008
