Drug Store
New
For Sale
Contact for pricing
1701 Galvin Rd S, Bellevue, NE 68005
Retail building occupied by a CVS with a Dollar Tree sublease in Bellevue.
Property Size13,331 SF
Price / SF$249.96
Days on Market5
Property Features for 1701 Galvin Rd S
General Information
Standard status
Active
Size
13,331 SF
Property subtype
RETAIL
Listing Agency:
Venture Commercial Real Estate
(214) 378-1212
Listed By:
Amy Pjetrovic · License #550374
(214) 378-1212
Source:
Moodyscre
Added: Aug 6
Changed: Aug 9
Last Checked: Aug 9 at 12:40PM
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 Venture Commercial Real Estate
Investment Insights
Based on property information with market context.
This 13,331-square-foot drug store property is occupied by a CVS and includes a Dollar Tree sublease. The asset is positioned within the retail property and space category and is offered for sale.
Located at 1701 Galvin Rd S in Bellevue, Nebraska, the property provides a commercial retail presence within the city. The address is 1701 Galvin Rd S, Bellevue, NE 68005.
Located at 1701 Galvin Rd S in Bellevue, Nebraska, the property provides a commercial retail presence within the city. The address is 1701 Galvin Rd S, Bellevue, NE 68005.
Key Highlights
- 13,331‑square‑foot drug store property
- CVS occupancy
- Dollar Tree sublease
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
$174,757
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
5.24%
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%
$3,495,140
$3.5M
Cap Rate 7%
$2,496,529
$2.5M
Cap Rate 9%
$1,941,744
$1.9M
Market Conditions
NOI Build-Up for 13,331 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
$244.8K $18.36/SF
− Vacancy
−$11.7K −$0.88/SF
EGI
$233.0K $17.48/SF
− OpEx
−$58.3K −$4.37/SF
NOI
$174.8K $13.11/SF
Area
Sarpy County, NE
Vacancy
4.80%
Lease Rate
$18.36 /SF/Yr
Expense Ratio
25.00%
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%
$3,495,140
Cap Rate 7%
$2,496,529
Cap Rate 9%
$1,941,744
Alternative Uses
Best Use
Specialty Retail
$2.50M
$2.18M – $2.91M
NOI $174,757 @ 7.0% cap · market cap 5.24%
Second Best
Retail
$2.34M
$2.05M – $2.73M
NOI $163,791 @ 7.0% cap · market cap 4.92%
Theoretical Best
Office A
$3.58M
$3.13M – $4.17M
NOI $250,421 @ 7.0% cap · market cap 7.52%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
729
Businesses Nearby
49k
Monthly Visits Nearby
Well-served
Demand for This Use
Explore this area
Business Placement
Foot Traffic Nearby
Shops & Services 44%
Dining 36%
Home Improvements & Furnishings 14%
Electronics 5%
Dollar Tree
Shops & Services
9,188 visits/mo
0.2 miles
Runza
Dining
9,104 visits/mo
0.2 miles
Westlake Ace Hardware
Home Improvements & Furnishings
6,549 visits/mo
0.1 miles
Burger King
Dining
6,115 visits/mo
0.4 miles
Dollar General
Shops & Services
5,497 visits/mo
0.1 miles
Demographics for 68005, NE
23,236
Population
9,778
Households
2.4
Avg Household Size
37
Median Age
29%
College-Educated
92%
High-School Grad
18.7 sq mi
ZIP Area
1,243
Density / Sq Mi
$66,347
Median Household Income
$41,702
Median Earnings
$1,033
Median Rent
$193,600
Median Home Value
Market
Vacancy Rate% for Retail in Midwest region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Similar Off Market Nearby
- COVID-19 Drive-Thru Testing at Walgreens — 1802 Galvin Rd S, Bellevue, NE 68005
- Walgreens Pharmacy — 1802 Galvin Rd S, Bellevue, NE 68005
- Alan Langpaul — 1802 Galvin Rd S, Bellevue, NE 680053813
- Michaela Tomsu — 1802 Galvin Rd S, Bellevue, NE 680053813
- John Tracy — 1802 Galvin Rd S, Bellevue, NE 680053813
Frequently Asked Questions
What type of property is this?
Drug store - Retail building occupied by a CVS with a Dollar Tree sublease in Bellevue.
Where is this drug store located?
The property is located at 1701 Galvin Rd S Bellevue, NE.
What is the asking price?
The asking price for this property is $3,332,184.
What are key features of this property?
This property features: 13,331‑square‑foot drug store property; CVS occupancy; Dollar Tree sublease
