Updated Downtown Retail/Office
166 Main St Springfield, NE 68059
166 Main St, Springfield, NE, 68059
Contact for pricing
For Sale
Contact for pricing
Fully updated 978 SF commercial building with new lighting, flooring, paint, and ceiling, plus a rear concrete pad.
Property Size978 SF
Lot Size0.51 Acres
Price / SF$337.42
Days on Market114
Property Features for 166 Main St
General Information
- Standard status
- Active
- Size
- 978 SF
- Lot size
- 0.51 Acres
- Property subtype
- Mixed Use, Office, Retail
Listing agency
Nebraska Realty
(402) 871-4411
Listed by
Jeff Perdue · License #20140202
Source
Crexi
Added: Mar 31 Updated: Jul 22 at 10:54AM Checked: Jul 22 at 10:54AM
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 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.
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
Local Financial Insights For Office B
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 | $20.0k | $20.40 |
| − Vacancy | −$1.5k | −$1.57 |
| EGI | $18.4k | $18.83 |
| − OpEx | −$4.6k | −$4.71 |
| NOI | $13.8k | $14.12 |
978 SF · lease $20.40/SF/yr · vacancy 7.70% · expense 25.00%
Alternative Uses
Best Use
Office B
$197.3K
$172.6K – $230.2K
NOI $13,811 @ 7.0% cap · market cap 4.19%
Second Best
Retail
$171.7K
$150.2K – $200.3K
NOI $12,016 @ 7.0% cap · market cap 3.64%
Theoretical Best
Office A
$262.5K
$229.7K – $306.2K
NOI $18,372 @ 7.0% cap · market cap 5.57%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Location Intelligence
Current Use by Public Records
Executive Janitorial Corporation
General Contractor
FAQs
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
