17-Unit Apartment Building
For Sale
$2,200,000
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
Days on Market163
Property Features for 1940 S Cotner Blvd
General Information
Standard status
Active
Size
14,252 SF
Property subtype
Multifamily
Occupancy
94%
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
Building Size
14,252 SF
Year Built
1950
Buildings
4
Listing Agency:
Lee & Associates - Omaha Nebraska
Listed By:
Drew West · License #NE20250593
(402) 405-1087
Source:
Lee-associates
Added: May 7
Changed: Oct 15
Last Checked: Oct 16 at 6:06AM
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 - Omaha Nebraska
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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 / Yr
$131,359
Cap Rate
5.97%
Suggested Prices Based on Cap Rates
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
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 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.
How Realmo checks its estimates
Property Analytics
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Open Analytics
Current Use
Lease Details
17
Residential units
94%
Occupancy
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
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Multifamily in Midwest region
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
