Leased Retail Strip Center
For Sale
Contact for pricing
2720 DAN AVE, Lincoln, NE 68504
100% leased retail building in a busy development with storefront presence on 27th Street.
Property Size7,037 SF
Price / SF$234.47
Days on Market55
Property Features for 2720 DAN AVE
General Information
Standard status
Active
Size
7,037 SF
Property subtype
Retail
Zoning
I1
Occupancy
100%
Lease Type
NNN
Building Details
Year Built
2011
Tenancy
Multi
Listing Agency:
Manzitto Real Estate
Listed By:
Dave Lessor · License #20160094
Source:
Crexi
Added: Jun 18
Changed: Aug 8
Last Checked: Aug 10 at 2:08PM
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 Manzitto Real Estate
Investment Insights
Based on property information with market context.
This is a retail strip center building offered for sale with 100% leasing in place. The property provides storefront-oriented space within a multi-tenant retail setting, positioned to support ongoing occupancy.
The building is located directly on 27th Street within a busy development. It benefits from frontage along the street and visibility associated with a concentrated retail environment.
For buyers seeking a retail asset with existing tenancy, this property offers the practicality of in-place occupancy and a current tenant roster. It may be a good fit for investors or operators looking for a leased storefront building in an established retail setting, without requiring immediate repositioning to generate occupancy.
The building is located directly on 27th Street within a busy development. It benefits from frontage along the street and visibility associated with a concentrated retail environment.
For buyers seeking a retail asset with existing tenancy, this property offers the practicality of in-place occupancy and a current tenant roster. It may be a good fit for investors or operators looking for a leased storefront building in an established retail setting, without requiring immediate repositioning to generate occupancy.
Key Highlights
- 100% leased retail building
- Storefront presence directly on 27th Street
- Built in 2011
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
$82,903
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
5.02%
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%
$1,658,060
$1.7M
Cap Rate 7%
$1,184,329
$1.2M
Cap Rate 9%
$921,144
$921.1K
Market Conditions
NOI Build-Up for 7,037 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
$126.7K $18.00/SF
− Vacancy
−$8.2K −$1.17/SF
EGI
$118.4K $16.83/SF
− OpEx
−$35.5K −$5.05/SF
NOI
$82.9K $11.78/SF
Area
Lincoln, NE
Vacancy
6.50%
Lease Rate
$18.00 /SF/Yr
Expense Ratio
30.00%
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%
$1,658,060
Cap Rate 7%
$1,184,329
Cap Rate 9%
$921,144
Alternative Uses
Best Use
Retail
$1.18M
$1.04M – $1.38M
NOI $82,903 @ 7.0% cap · market cap 5.02%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.73M
$1.51M – $2.01M
NOI $120,762 @ 7.0% cap · market cap 7.32%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
100%
Occupancy
Location Intelligence
Trade Area within ½ mile
649
Businesses Nearby
442k
Monthly Visits Nearby
Explore this area
Business Placement
Foot Traffic Nearby
Superstores 46%
Dining 40%
Shops & Services 8%
Apparel 3%
Walmart
Superstores
124,689 visits/mo
0.3 miles
Sam's Club
Superstores
78,166 visits/mo
0.4 miles
Culver's
Dining
34,297 visits/mo
0.4 miles
McDonald's
Dining
32,371 visits/mo
0.3 miles
Lincoln #24
Shops & Services
18,097 visits/mo
0.1 miles
Demographics for 68504, NE
17,155
Population
8,793
Households
2
Avg Household Size
31
Median Age
33%
College-Educated
93%
High-School Grad
7.0 sq mi
ZIP Area
2,451
Density / Sq Mi
$52,159
Median Household Income
$32,787
Median Earnings
$1,014
Median Rent
$169,000
Median Home Value
Market
Vacancy Rate% for Retail in Midwest region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Strip mall - 100% leased retail building in a busy development with storefront presence on 27th Street.
Where is this strip mall located?
The property is located at 2720 DAN AVE Lincoln, NE.
What is the asking price?
The asking price for this property is $1,650,000.
What are key features of this property?
This property features: 100% leased retail building; Storefront presence directly on 27th Street; Built in 2011
