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    Hotel and Diner Event Space Title is generated by Realmo AI

    218 Commercial Ave, Wallace, NE 69169

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    A 10-room lodging property with an on-site diner and event rentals, plus a manager unit and guest laundromat.

    Type:Hospitality, Special Purpose
    Property size:
    11,250 SF
    Price / SF:
    $18/SF
    Added:
    May 29, 2026
    Days on Market:
    10
    Last Refresh:
    Jun 6 at 2:02 am

    Property Features for 218 Commercial Ave

    General Information

    Standard status
    Active
    Size
    11,250 SF
    Property subtype
    Hospitality, Special Purpose

    We can help!

    Listing Contact
    Nancy Faulhaber

    Listing agent Nancy Faulhaber License #NE0873487

    Listing office Coldwell Banker Preferred Group, P.C.

    Listing date May 29, 2026

    Source Crexi

    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 Coldwell Banker Preferred Group, P.C.

    HighLights

    • Wallace Hotel in Wallace, NE offers daily and monthly rates and includes 10 hotel rooms/suites plus an owner/manager unit
    • On‑site public laundromat with multiple washers and dryers provides additional income
    • 1950s‑style diner available for event rentals for groups up to 40 people
    • Owner/manager unit is 3 bed, 4 bath and includes an office, living room, dining room, kitchen, and basement with workshop and storage
    • Lodging mix includes 3 rooms with full‑size bed and bath; rooms with queen bed and kitchenette; and multiple 2‑bedroom suites with kitchens, living rooms, and baths

    Overview

    The Wallace Hotel is a hospitality property offering daily and monthly stays, with amenities that include Dish Network and Wi-Fi. The property includes 10 hotel rooms and suites, plus an owner/manager unit with 3 bedrooms and 4 bathrooms. The manager unit also features an office, living room, dining room, kitchen, and a basement with workshop and storage space. An on-site public laundromat with multiple washers and dryers is available for guests. A 1950’s style diner on the premises is used for renting out for events up to 40 people.

    Located at 218 Commercial Ave in Wallace, Nebraska, the property is about 20 miles south of I-80 near the Sutherland, NE exit (#158). The site includes a landscaped backyard with a patio and carport.

    This configuration can fit operators seeking a small lodging business with an integrated common amenity mix, including furnished rooms and a public laundromat. The presence of an on-site diner that supports event rentals, along with the additional manager unit, may also appeal to buyers planning either a hands-on operation or a blended use of guest lodging, hosted events, and on-site services.
    Location Intelligence

    Current Use by Public Records

    Wallace Hotel Hotel & Motel LAUNDROMAT (Bike/Boat/Book/etc) Store

    Suggested Use

    Restaurant Law Firm Big Box & Wholesale Store Auto Repair Shop Hotel & Motel Auto Parts Store Gym & Fitness Center Food Market Storage Facility Grocery & Convenience Store

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Wallace
    County
    Lincoln
    State
    Nebraska
    Longitude
    -101.165528
    Latitude
    40.837614

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    FAQs

    What type of property is this?
    Hotel - A 10-room lodging property with an on-site diner and event rentals, plus a manager unit and guest laundromat.
    Where is this hotel located?
    The property is located at 218 Commercial Ave Wallace, NE.
    What is the asking price?
    The asking price for this property is $210,000.
    What are key features of this property?
    This property features: Wallace Hotel in Wallace, NE offers daily and monthly rates and includes 10 hotel rooms/suites plus an owner/manager unit; On‑site public laundromat with multiple washers and dryers provides additional income; 1950s‑style diner available for event rentals for groups up to 40 people
    We can help!
    Contact for Pricing
    Please call us for current price
    and status of this listing
    Nancy Faulhaber
    Real Estate License ID: NE0873487
    Learn More
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    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

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