Historic Office
For Sale
Contact for pricing
1941 K St, Lincoln, NE 68510
R-6 zoning and a Special Use Office Permit support the property's established office designation.
Property Size2,881 SF
Price / SF$187.43
Days on Market118
Property Features for 1941 K St
General Information
Standard status
Active
Size
2,881 SF
Property subtype
OFFICE
Zoning
R-6
Building Details
Year Built
1900
Listing Agency:
BHHS - Ambassador Real Estate | Lincoln
(402) 419-6309
Listed By:
Ben D Bleicher
(402) 419-6309
Source:
Moodyscre
Added: May 6
Changed: Aug 30
Last Checked: Aug 30 at 9:24AM
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 BHHS - Ambassador Real Estate | Lincoln
Investment Insights
Based on property information with market context.
This 2,881-square-foot office building at 1941 K Street was constructed in 1900 and carries a Local Landmark Designation. The property is configured for office use under R-6 zoning with a Special Use Office Permit.
K Street and Capital Parkway frontage provide the property's primary street presence. The building is located in Lincoln's Telegraph District, offering a defined urban setting for an office property with historical character and established land-use approvals.
K Street and Capital Parkway frontage provide the property's primary street presence. The building is located in Lincoln's Telegraph District, offering a defined urban setting for an office property with historical character and established land-use approvals.
Key Highlights
- 2,881‑square‑foot office building
- Constructed in 1900 with Local Landmark Designation
- R‑6 zoning with a Special Use Office Permit
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
$36,301
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
6.72%
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%
$726,020
$726.0K
Cap Rate 7%
$518,586
$518.6K
Cap Rate 9%
$403,344
$403.3K
Market Conditions
NOI Build-Up for 2,881 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
$60.5K $21.00/SF
− Vacancy
−$12.1K −$4.20/SF
EGI
$48.4K $16.80/SF
− OpEx
−$12.1K −$4.20/SF
NOI
$36.3K $12.60/SF
Area
Lincoln, NE
Vacancy
20.00%
Lease Rate
$21.00 /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%
$726,020
Cap Rate 7%
$518,586
Cap Rate 9%
$403,344
Alternative Uses
Best Use
Office B
$518.6K
$453.8K – $605.0K
NOI $36,301 @ 7.0% cap · market cap 6.72%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$706.3K
$618.0K – $824.0K
NOI $49,441 @ 7.0% cap · market cap 9.16%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
2,574
Businesses Nearby
Explore this area
Business Placement
Demographics for 68510, NE
20,669
Population
9,871
Households
2.1
Avg Household Size
38
Median Age
40%
College-Educated
95%
High-School Grad
4.6 sq mi
ZIP Area
4,493
Density / Sq Mi
$64,183
Median Household Income
$41,632
Median Earnings
$857
Median Rent
$221,200
Median Home Value
Market
Vacancy Rate% for Office in Midwest region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Office building - R-6 zoning and a Special Use Office Permit support the property's established office designation.
Where is this office building located?
The property is located at 1941 K St Lincoln, NE.
What is the asking price?
The asking price for this property is $540,000.
What are key features of this property?
This property features: 2,881‑square‑foot office building; Constructed in 1900 with Local Landmark Designation; R‑6 zoning with a Special Use Office Permit
