Modern Flex Space with
For Sale
$775,000
1804 E 4th St, Grand Island, NE 68801
Updated flex property combines finished office areas with a heated and cooled warehouse.
Property Size5,856 SF
Lot Size1.60 Acres
Price / SF$132.34
Days on Market8
Property Features for 1804 E 4th St
General Information
Standard status
Active
Size
5,856 SF
Lot size
1.60 Acres
Warehouse & Industrial
Warehouse Space
1,586 SF
Office Build-Out
4,270 SF
Conditioned Warehouse
Yes
Taxes and HOA fees
Annual Taxes
$8,505
Building Details
Buildings
1
Building Size
5,856 SF
Listing Agency:
Woods Bros Realty
(308) 398-6600
Listed By:
Mandi Buettner
(308) 440-7890
Source:
Exprealty
Added: Sep 9
Changed: Sep 15
Last Checked: Sep 15 at 2:32PM
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 Woods Bros Realty
Investment Insights
Based on property information with market context.
Located at 1804 E 4th St in Grand Island, this updated flex property sits on 1.6 acres and contains 5,856 Sq. Ft. across office and warehouse areas. The office component includes 8 offices, 2 conference rooms, a reception area, a kitchenette with appliances, and restrooms. The warehouse offers 1,586 square feet of heated and cooled space with Three 8ft overhead doors.
The building includes 4,270 Sq. Ft. of office space and is topped by a 24 gage steel roof with 7in steel gutters installed in 2025. The land and building are offered for sale, with a lease option also available.
The building includes 4,270 Sq. Ft. of office space and is topped by a 24 gage steel roof with 7in steel gutters installed in 2025. The land and building are offered for sale, with a lease option also available.
Key Highlights
- 5,856 Sq. Ft. total building area on 1.6 acres
- 4, 270 Sq. Ft. of office space with 8 offices and 2 conference rooms
- 1, 586 of warehouse space with heating and cooling
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
$40,041
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
5.17%
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%
$800,820
$800.8K
Cap Rate 7%
$572,014
$572.0K
Cap Rate 9%
$444,900
$444.9K
Market Conditions
NOI Build-Up for 5,856 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
$48.0K $8.20/SF
− Vacancy
−$912 −$0.16/SF
EGI
$47.1K $8.04/SF
− OpEx
−$7.1K −$1.21/SF
NOI
$40.0K $6.84/SF
Area
Hall County, NE
Vacancy
1.90%
Lease Rate
$8.20 /SF/Yr
Expense Ratio
15.00%
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%
$800,820
Cap Rate 7%
$572,014
Cap Rate 9%
$444,900
Alternative Uses
Best Use
Warehouse
$572.0K
$500.5K – $667.4K
NOI $40,041 @ 7.0% cap · market cap 5.17%
Second Best
Industrial
$479.1K
$419.2K – $559.0K
NOI $33,538 @ 7.0% cap · market cap 4.33%
Theoretical Best
Office A
$1.47M
$1.28M – $1.71M
NOI $102,588 @ 7.0% cap · market cap 13.24%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
110
Businesses Nearby
Balanced
Demand for This Use
Explore this area
Business Placement
Demographics for 68801, NE
30,440
Population
11,684
Households
2.6
Avg Household Size
34
Median Age
17%
College-Educated
81%
High-School Grad
90.0 sq mi
ZIP Area
338
Density / Sq Mi
$63,214
Median Household Income
$37,995
Median Earnings
$931
Median Rent
$186,600
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Industrial in Midwest region
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Frequently Asked Questions
What type of property is this?
Flex space - Updated flex property combines finished office areas with a heated and cooled warehouse.
Where is this flex space located?
The property is located at 1804 E 4th St Grand Island, NE.
What is the asking price?
The asking price for this property is $775,000.
What are key features of this property?
This property features: 5,856 Sq. Ft. total building area on 1.6 acres; 4, 270 Sq. Ft. of office space with 8 offices and 2 conference rooms; 1, 586 of warehouse space with heating and cooling
