Versatile Flex Space with Fenced
For Sale
Contact for pricing
203 E 35th Ave, Bellevue, NE 68005
Flex space with fenced lot, drive-in doors, and office.
Property Size4,800 SF
Price / SF$156.25
Days on Market168
Property Features for 203 E 35th Ave
General Information
Standard status
Active
Size
4,800 SF
Property subtype
Industrial
Building Details
Year Built
1995
Year Renovated
2020
Buildings
1
Listing Agency:
Investors Realty Inc
(402) 669-9541
Listed By:
Clint Seemann · License #NE 20020915
Source:
Crexi
Added: Feb 24
Changed: Aug 10
Last Checked: Aug 9 at 3:23PM
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 Investors Realty Inc
Investment Insights
Based on property information with market context.
This 4,800-square-foot property is suitable for an owner-user and offers the potential to divide the space for two tenants. The building includes a fenced back lot and features four oversized drive-in doors. Mezzanine storage, office space, and radiant heat are also present. The property is located in Bellevue, Nebraska.
Key Highlights
- Ability to demise the space for two tenants offering investment or flexibility
- Fenced back lot providing security and storage
- 4 oversized drive‑in doors enhance accessibility and functionality
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
$33,833
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
4.51%
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%
$676,660
$676.7K
Cap Rate 7%
$483,329
$483.3K
Cap Rate 9%
$375,922
$375.9K
Market Conditions
NOI Build-Up for 4,800 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
$41.0K $8.54/SF
− Vacancy
−$1.2K −$0.25/SF
EGI
$39.8K $8.29/SF
− OpEx
−$6.0K −$1.24/SF
NOI
$33.8K $7.05/SF
Area
Sarpy County, NE
Vacancy
2.90%
Lease Rate
$8.54 /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%
$676,660
Cap Rate 7%
$483,329
Cap Rate 9%
$375,922
Alternative Uses
Best Use
Warehouse
$483.3K
$422.9K – $563.9K
NOI $33,833 @ 7.0% cap · market cap 4.51%
Second Best
Industrial
$398.0K
$348.3K – $464.4K
NOI $27,862 @ 7.0% cap · market cap 3.71%
Theoretical Best
Office A
$1.29M
$1.13M – $1.50M
NOI $90,168 @ 7.0% cap · market cap 12.02%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
62
Businesses Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
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 Industrial in Midwest region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Flex space - Flex space with fenced lot, drive-in doors, and office.
Where is this flex space located?
The property is located at 203 E 35th Ave Bellevue, NE.
What is the asking price?
The asking price for this property is $750,000.
What are key features of this property?
This property features: Ability to demise the space for two tenants offering investment or flexibility; Fenced back lot providing security and storage; 4 oversized drive‑in doors enhance accessibility and functionality
