17-Unit Apartment Building
For Sale
Contact for pricing
1940 S Cotner Blvd, Lincoln, NE 68506
Four separate buildings offer updated appliances, original hardwood floors, laundry facilities, and off-street parking.
Property Size14,252 SF
Price / SF$154.36
Days on Market132
Property Features for 1940 S Cotner Blvd
General Information
Standard status
Active
Size
14,252 SF
Property subtype
Multifamily
Occupancy
94%
Investment Type
Value Add
Net Operating Income
$134,915
Units
Unit Mix
4 x 3BR/1BA, 8 x 2BR/1BA, 5 x 1BR/1BA
Multifamily Units
17
Amenities
original hardwood floors
updated bathroom and kitchen appliances
onsite laundry
large off-street parking area
Building Details
Year Built
1950
Buildings
4
Units
17
Tenancy
Multi
Listing Agency:
Lee & Associates - Lincoln
(402) 690-0400
Listed By:
Drew West · License #NE20250593
Source:
Crexi
Added: Apr 23
Changed: Aug 30
Last Checked: Aug 31 at 10:49PM
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 Lee & Associates - Lincoln
Investment Insights
Based on property information with market context.
This multifamily offering includes four buildings with 17 total units and a mix of three-bedroom, two-bedroom, and one-bedroom floor plans. The configuration includes four 3 bedroom/1 bathroom units, eight 2 bedroom/1 bathroom units, and five 1 bedroom/1 bathroom units. Original hardwood floors, updated kitchen and bathroom appliances, onsite laundry, and a large off-street parking area are among the property features. The buildings date to 1950, and reported occupancy is 94%.
Located at 1940 S Cotner Blvd in Lincoln, Nebraska, the property is positioned within the 48th Street corridor and near Bryan Medical Center East Campus. The neighborhood-scale layout and established surrounding context support continued multifamily use.
Located at 1940 S Cotner Blvd in Lincoln, Nebraska, the property is positioned within the 48th Street corridor and near Bryan Medical Center East Campus. The neighborhood-scale layout and established surrounding context support continued multifamily use.
Key Highlights
- 17‑unit multifamily property arranged across four buildings
- Unit mix includes four 3 bedroom/1 bathroom, eight 2 bedroom/1 bathroom, and five 1 bedroom/1 bathroom units
- 94% occupancy
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
$131,359
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
5.97%
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%
$2,627,180
$2.6M
Cap Rate 7%
$1,876,557
$1.9M
Cap Rate 9%
$1,459,544
$1.5M
Market Conditions
NOI Build-Up for 14,252 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
$251.4K $17.64/SF
− Vacancy
−$12.6K −$0.88/SF
EGI
$238.8K $16.76/SF
− OpEx
−$107.5K −$7.54/SF
NOI
$131.4K $9.22/SF
Area
Lincoln, NE
Vacancy
5.00%
Lease Rate
$17.64 /SF/Yr
Expense Ratio
45.00%
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%
$2,627,180
Cap Rate 7%
$1,876,557
Cap Rate 9%
$1,459,544
Alternative Uses
Best Use
Apartment 5plus
$1.88M
$1.64M – $2.19M
NOI $131,359 @ 7.0% cap · market cap 5.97%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$3.49M
$3.06M – $4.08M
NOI $244,578 @ 7.0% cap · market cap 11.12%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
17
Residential units
Location Intelligence
Trade Area within ½ mile
1,363
Businesses Nearby
Explore this area
Business Placement
Demographics for 68506, NE
28,203
Population
13,044
Households
2.2
Avg Household Size
40
Median Age
45%
College-Educated
96%
High-School Grad
7.0 sq mi
ZIP Area
4,029
Density / Sq Mi
$70,501
Median Household Income
$41,755
Median Earnings
$1,147
Median Rent
$245,200
Median Home Value
Market
Vacancy Rate% for Multifamily in Midwest region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Apartment building - Four separate buildings offer updated appliances, original hardwood floors, laundry facilities, and off-street parking.
Where is this apartment building located?
The property is located at 1940 S Cotner Blvd Lincoln, NE.
What is the asking price?
The asking price for this property is $2,200,000.
What are key features of this property?
This property features: 17‑unit multifamily property arranged across four buildings; Unit mix includes four 3 bedroom/1 bathroom, eight 2 bedroom/1 bathroom, and five 1 bedroom/1 bathroom units; 94% occupancy
