Building Details

Year Renovated 2026

Buildings 1

Stories 1

Units 1

Listing Agency: Nebraska Realty

Listed By: Jeff Perdue · License #20140202 Show Phone

Source: Crexi

Added: Mar 31 Changed: Oct 15 Last Checked: Oct 23 at 5:18AM

Report an Issue

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

Ask AI about this property

Review the available facts, identify missing information and prepare questions for the agent.

What should I ask the agent before proceeding? What information is missing from this listing?

Investment Insights

Based on property information with market context.

This fully updated downtown commercial property was recently gutted and renovated and is presented in clean, modern condition. The interior includes new lighting, new flooring, fresh paint, and a new ceiling. A roof replacement was completed in 2016. The functional layout supports office or retail use, and the rear concrete pad adds practical utility for everyday operations.

The building is located at 166 Main Street in Springfield, Nebraska, on a 0.506-acre lot. It is zoned commercial and positioned for Main Street presence within the downtown district.

Offered for sale as an owner-user or investment opportunity, the property provides a compact, ready-to-occupy footprint with recent interior improvements and documented roof replacement.

Key Highlights

• 978 SF downtown commercial building in Springfield, NE with recent gut‑and‑renovation updates
• New lighting, flooring, fresh paint, and a new ceiling for a clean, modern interior
• Roof replacement completed in 2016

Financial Insights

Estimated NOI and Cap Rate

NOI / Yr

$13,811

Cap Rate

4.19%

Suggested Prices Based on Cap Rates

Cap Rate 5%

$276,220 $276.2K

Cap Rate 7%

$197,300 $197.3K

Cap Rate 9%

$153,456 $153.5K

Is this asking price fair?

Market Conditions

NOI Build-Up for 978 SF

Gross rent

$20.0K $20.40/SF

− Vacancy

−$1.5K −$1.57/SF

EGI

$18.4K $18.83/SF

− OpEx

−$4.6K −$4.71/SF

NOI

$13.8K $14.12/SF

Area

Sarpy County, NE

Vacancy

7.70%

Lease Rate

$20.40 /SF/Yr

Expense Ratio

25.00%

Simulate Cap Rate and NOI

Suggested Prices Based on Cap Rates

Cap Rate 5%

$276,220

Cap Rate 7%

$197,300

Cap Rate 9%

$153,456

Alternative Uses

Best Use

Office B

$197.3K

$172.6K – $230.2K (±1% cap)

NOI $13,811 @ 7.0% cap · market cap 4.19%

Second Best

Retail

$171.7K

$150.2K – $200.3K (±1% cap)

NOI $12,016 @ 7.0% cap · market cap 3.64%

Theoretical Best

Office A

$262.5K

$229.7K – $306.2K (±1% cap)

NOI $18,372 @ 7.0% cap · market cap 5.57%

Zoning and permitted uses should be independently verified with authorities. How Realmo checks its estimates

Property Analytics

Unlock full access to Insights Subscribe to Realmo Intelligence

Open Analytics

Current Use

Executive Janitorial Corporation General Contractor

Suggested Use

Top Pick Real Estate Agency Big Box & Wholesale Store Dental Office Pharmacy Hair Salon Storage Facility

Score = modeled unmet demand for each use within ~1 mi (higher = bigger opportunity). Zoning and permitted uses should be independently verified with local authorities.

Location Intelligence

Trade Area within ½ mile

189

Businesses Nearby

Explore this area Business Placement

Demographics for 68059, NE

3,408

Population

1,369

Households

2.5

Avg Household Size

43

Median Age

31%

College-Educated

96%

High-School Grad

47.7 sq mi

ZIP Area

71

Density / Sq Mi

$97,210

Median Household Income

$50,768

Median Earnings

$1,198

Median Rent

$351,900

Median Home Value

Market

Vacancy Rate% for Office in Midwest region

13.7% 2019

15.6% 2020

17.1% 2021

18.9% 2022

21% 2023

22% 2024

21.3% 2025

Frequently Asked Questions

What type of property is this?

Mixed-use property - Fully updated 978 SF commercial building with new lighting, flooring, paint, and ceiling, plus a rear concrete pad.

Where is this mixed-use property located?

The property is located at 166 Main St Springfield, NE.

What is the asking price?

The asking price for this property is $330,000.

What are key features of this property?

This property features: 978 SF downtown commercial building in Springfield, NE with recent gut‑and‑renovation updates; New lighting, flooring, fresh paint, and a new ceiling for a clean, modern interior; Roof replacement completed in 2016