22-Unit Townhome
For Sale
$3,750,000
2700 North 1st Street, Lincoln, NE 68521
Constructed in 2003, this 22-unit townhome community offers accessible rental housing near Downtown Lincoln.
Property Size30,176 SF
Days on Market141
Property Features for 2700 North 1st Street
General Information
Standard status
Active
Size
30,176 SF
Property subtype
Multi-Family
Additional Details
Multifamily Units
22
Building Details
Building Size
30,176 SF
Year Built
2003
Units
22
Listing Agency:
Oak Investment Real Estate
Listed By:
Colten Adams · License #20210795
(402) 702-2709
Source:
Commercialcafe
Added: Apr 21
Changed: Sep 4
Last Checked: Sep 7 at 5:00AM
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 Oak Investment Real Estate
Investment Insights
Based on property information with market context.
Salt Creek Townhomes is a 22-unit townhome community constructed in 2003. The property provides residential income housing at 2700 North 1st Street in Lincoln, Nebraska.
The community is described as located in West Lincoln with convenient access, just minutes from Downtown Lincoln and key retail corridors. This positioning is presented as supporting proximity to major employment and demand drivers.
As a multi-unit townhome property, Salt Creek Townhomes offers a defined, manageable community of 22 units in a relatively modern build year for the area, with access benefits highlighted in the property’s public remarks.
The community is described as located in West Lincoln with convenient access, just minutes from Downtown Lincoln and key retail corridors. This positioning is presented as supporting proximity to major employment and demand drivers.
As a multi-unit townhome property, Salt Creek Townhomes offers a defined, manageable community of 22 units in a relatively modern build year for the area, with access benefits highlighted in the property’s public remarks.
Key Highlights
- 22‑unit townhome community
- Constructed in 2003
- Accessible West Lincoln location near Downtown Lincoln
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
$278,129
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
7.42%
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%
$5,562,580
$5.6M
Cap Rate 7%
$3,973,271
$4.0M
Cap Rate 9%
$3,090,322
$3.1M
Market Conditions
NOI Build-Up for 30,176 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
$532.3K $17.64/SF
− Vacancy
−$26.6K −$0.88/SF
EGI
$505.7K $16.76/SF
− OpEx
−$227.6K −$7.54/SF
NOI
$278.1K $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%
$5,562,580
Cap Rate 7%
$3,973,271
Cap Rate 9%
$3,090,322
Alternative Uses
Best Use
Apartment 5plus
$3.97M
$3.48M – $4.64M
NOI $278,129 @ 7.0% cap · market cap 7.42%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$7.40M
$6.47M – $8.63M
NOI $517,849 @ 7.0% cap · market cap 13.81%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
22
Residential units
Location Intelligence
Trade Area within ½ mile
127
Businesses Nearby
Explore this area
Business Placement
Demographics for 68521, NE
37,251
Population
15,657
Households
2.4
Avg Household Size
31
Median Age
32%
College-Educated
88%
High-School Grad
13.2 sq mi
ZIP Area
2,822
Density / Sq Mi
$66,902
Median Household Income
$38,755
Median Earnings
$1,196
Median Rent
$235,600
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 - Constructed in 2003, this 22-unit townhome community offers accessible rental housing near Downtown Lincoln.
Where is this apartment building located?
The property is located at 2700 North 1st Street Lincoln, NE.
What is the asking price?
The asking price for this property is $3,750,000.
What are key features of this property?
This property features: 22‑unit townhome community; Constructed in 2003; Accessible West Lincoln location near Downtown Lincoln
