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    Scottsbluff Office with Income Potential Title is generated by Realmo AI

    17 E 21ST STREET, Scottsbluff, NE 69361

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    For Sale
    $215,000

    OFFICE - Scottsbluff, NE

    Type:Office
    Property size:
    1,768 SF
    Price / SF:
    $121/SF
    Added:
    Mar 3, 2026
    Days on Market:
    81
    Last Refresh:
    May 23 at 11:06 pm

    Property Features for 17 E 21ST STREET

    General Information

    Property type
    Commercial Sale
    Property subtype
    Office
    Standard status
    Active
    APN
    010135618
    Size
    1,768 SF

    Taxes and HOA fees

    Tax Year
    2011
    Tax Annual Amount
    2009.1

    Utilities

    Heating system
    Forced Air, Natural Gas
    Cooling system
    Central Air

    Building Details

    Floors in Building
    1
    Number of units
    2
    Flooring type
    Carpet
    Building materials
    Brick, Frame
    Roof type
    Flat
    Architectural style
    Other

    We can help!

    Listing Contact
    CAITLIN COPAS

    Listing agent CAITLIN COPAS

    Listing office NEBRASKA REALTY 2970 10th St. Ste. #6, Omaha, NE

    Listing date Mar 3, 2026

    MLS# 27028 Listing URL

    Copyright © 2026 Western Nebraska Board of REALTORS®. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.

    HighLights

    • Two separate entrances allow for renting as two separate units, increasing income potential.
    • Prime location just two blocks from downtown.
    • Corner lot with off‑street parking accessed from the alley.
    • 1,768 sq ft basement provides abundant storage and storm shelter.
    • Multiple office spaces (4‑5) plus additional waiting/storage areas.
    • On‑demand water heater.

    Overview

    This commercial property is located just two blocks from downtown Scottsbluff, Nebraska, situated on a corner lot. Currently configured as one office, it features two separate entrances, offering the potential to be rented as two separate units. The layout includes a waiting area or front office, four to five office spaces, and a storage closet. A half bath is located in the hallway near the side door. The west end of the property provides an additional waiting or storage area and two spacious offices. The 1,768 square foot basement is divided into two areas, one for storage and storm shelter, and a smaller area housing two furnaces and an on-demand water heater. Off-street parking is available, easily accessed from the alley. The property is currently tax exempt; the listed taxes are from 2011 and may change after purchase.

    Financial Insights

    Value Estimation Calculated for Office B

    Conservative
    $155.6K
    NOI $14,003 @ 9.00% cap · cautious / downside scenario
    Moderate
    $200.0K
    NOI $14,003 @ 7.00% cap · market / base-case scenario
    Aggressive
    $280.1K
    NOI $14,003 @ 5.00% cap · optimistic / upside scenario

    NOI & Cap Rate Calculator

    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.
         Calculated for Office B

    Component $ $/SF
    Gross rent $21.2k $12.00
    − Vacancy −$2.5k −$1.44
    EGI $18.7k $10.56
    − OpEx −$4.7k −$2.64
    NOI $14.0k $7.92
    1,768 SF · lease $12.00/SF/yr · vacancy 12.00% · expense 25.00%

    Alternative Use Scenarios

    Best Use
    Office B
    $200.0K
    $175.0K – $233.4K (±1% cap)
    NOI $14,003 @ 7.0% cap · market cap 6.51%
    Second Best
    Apartment 5plus
    $139.4K
    $121.9K – $162.6K (±1% cap)
    NOI $9,755 @ 7.0% cap · market cap 4.54%
    Theoretical Best
    Healthcare Medical
    $331.8K
    $290.4K – $387.2K (±1% cap)
    NOI $23,229 @ 7.0% cap · market cap 10.80%
    Zoning and permitted uses should be independently verified with local authorities.
    Property Profile Location Intelligence

    Current Use by Public Records

    League of Human Dignity State Government Office

    Suggested Use

    Real Estate Agency Restaurant Law Firm Spa & Massage Center Dental Office Hair Salon Nail Salon Building Supply Auto Repair Shop Gym & Fitness Center

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Scottsbluff
    County
    Scotts Bluff
    State
    Nebraska
    Longitude
    -103.663508
    Latitude
    41.867644

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    FAQs

    What type of property is this?
    Office units - Commercial property near downtown, potential for two separate rental units.
    Where is this office units located?
    The property is located at 17 E 21ST STREET Scottsbluff, NE.
    What is the asking price?
    The asking price for this property is $215,000.
    What are key features of this property?
    This property features: Two separate entrances allow for renting as two separate units, increasing income potential.; Prime location just two blocks from downtown.; Corner lot with off‑street parking accessed from the alley.
    (308) 241-1664
    We can help!
    Listing Contact
    CAITLIN COPAS
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    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
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    17 E 21ST STREET, Scottsbluff, NE 69361
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