12-Unit Apartment
For Sale
Contact for pricing
2430 Q ST, Lincoln, NE 68503
Twelve-unit R-6 apartment building with an even mix of one- and two-bedroom units near central Lincoln.
Property Size7,056 SF
Price / SF$182.82
Days on Market64
Property Features for 2430 Q ST
General Information
Standard status
Active
Size
7,056 SF
Property subtype
Multifamily
Building Details
Year Built
1972
Listing Agency:
Berkshire Hathaway HomeServices Ambassador Real Estate Lincoln
Listed By:
Ben Bleicher · License #NE 20140372
Source:
Crexi
Added: Jun 5
Changed: Jul 10
Last Checked: Aug 6 at 5:48AM
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 Berkshire Hathaway HomeServices Ambassador Real Estate Lincoln
Investment Insights
Based on property information with market context.
This 12-unit apartment building is configured with six one-bedroom units and six two-bedroom units. The property is listed as an apartment building and is under R-6 zoning, which supports a multifamily residential use. The unit mix is designed to accommodate a range of tenant needs by pairing smaller floorplans with additional space.
The building is described as near downtown Lincoln, the University of Nebraska, and ample public transportation. That combination can be convenient for tenants who value walkable access to daily amenities and reliable transit options.
For investors or buyers looking for a stable residential income asset, the balanced one-bedroom and two-bedroom mix can broaden leasing appeal across different household sizes. The R-6 zoning also provides a clear framework for maintaining multifamily residential operations as permitted under the stated zoning designation. Interested parties should review the current unit configuration and rent roll details during their due diligence process to confirm operating specifics and verify assumptions.
The building is described as near downtown Lincoln, the University of Nebraska, and ample public transportation. That combination can be convenient for tenants who value walkable access to daily amenities and reliable transit options.
For investors or buyers looking for a stable residential income asset, the balanced one-bedroom and two-bedroom mix can broaden leasing appeal across different household sizes. The R-6 zoning also provides a clear framework for maintaining multifamily residential operations as permitted under the stated zoning designation. Interested parties should review the current unit configuration and rent roll details during their due diligence process to confirm operating specifics and verify assumptions.
Key Highlights
- 12‑unit apartment building built in 1972
- R‑6 zoning
- Unit mix includes six 2‑bedroom units and six 1‑bedroom units
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
$65,034
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
5.04%
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%
$1,300,680
$1.3M
Cap Rate 7%
$929,057
$929.1K
Cap Rate 9%
$722,600
$722.6K
Market Conditions
NOI Build-Up for 7,056 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
$124.5K $17.64/SF
− Vacancy
−$6.2K −$0.88/SF
EGI
$118.2K $16.76/SF
− OpEx
−$53.2K −$7.54/SF
NOI
$65.0K $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%
$1,300,680
Cap Rate 7%
$929,057
Cap Rate 9%
$722,600
Alternative Uses
Best Use
Apartment 5plus
$929.1K
$812.9K – $1.08M
NOI $65,034 @ 7.0% cap · market cap 5.04%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.73M
$1.51M – $2.02M
NOI $121,088 @ 7.0% cap · market cap 9.39%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
1,098
Businesses Nearby
Explore this area
Business Placement
Demographics for 68503, NE
15,064
Population
6,851
Households
2.2
Avg Household Size
28
Median Age
38%
College-Educated
82%
High-School Grad
2.9 sq mi
ZIP Area
5,194
Density / Sq Mi
$50,886
Median Household Income
$27,909
Median Earnings
$974
Median Rent
$158,900
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 - Twelve-unit R-6 apartment building with an even mix of one- and two-bedroom units near central Lincoln.
Where is this apartment building located?
The property is located at 2430 Q ST Lincoln, NE.
What is the asking price?
The asking price for this property is $1,290,000.
What are key features of this property?
This property features: 12‑unit apartment building built in 1972; R‑6 zoning; Unit mix includes six 2‑bedroom units and six 1‑bedroom units
