Kearney Retail Space
For Sale
Contact for pricing
300 3rd Ave, Kearney, NE 68845
Retail space for sale in Kearney, Nebraska.
Property Size22,167 SF
Price / SF$178.19
Days on Market653
Property Features for 300 3rd Ave
General Information
Standard status
Active
Size
22,167 SF
Property subtype
Retail
Zoning
Commercial
Building Details
Year Built
2007
Year Renovated
2022
Listing Agency:
The Lerner Company
(402) 502-4707
Listed By:
Boh Kurylo · License #NE 9314
Source:
Crexi
Added: Nov 9, 2024
Changed: Aug 8
Last Checked: Aug 23 at 11:40AM
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 The Lerner Company
Investment Insights
Based on property information with market context.
This commercial real estate, identified as retail space, is available for sale. The property encompasses a total area of 22167 square feet and is located in Kearney, Nebraska.
Key Highlights
- Built in 2007, offering relatively modern construction.
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
$121,300
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
3.07%
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%
$2,426,000
$2.4M
Cap Rate 7%
$1,732,857
$1.7M
Cap Rate 9%
$1,347,778
$1.3M
Market Conditions
NOI Build-Up for 22,167 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
$180.9K $8.16/SF
− Vacancy
−$7.6K −$0.34/SF
EGI
$173.3K $7.82/SF
− OpEx
−$52.0K −$2.35/SF
NOI
$121.3K $5.47/SF
Area
Buffalo County, NE
Vacancy
4.20%
Lease Rate
$8.16 /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%
$2,426,000
Cap Rate 7%
$1,732,857
Cap Rate 9%
$1,347,778
Alternative Uses
Best Use
Retail
$1.73M
$1.52M – $2.02M
NOI $121,300 @ 7.0% cap · market cap 3.07%
Second Best
—
—
no second resolved use
Theoretical Best
Healthcare Medical
$4.16M
$3.64M – $4.85M
NOI $291,247 @ 7.0% cap · market cap 7.37%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
256
Businesses Nearby
247k
Monthly Visits Nearby
Explore this area
Business Placement
Foot Traffic Nearby
Shops & Services 38%
Dining 37%
Hotels & Casinos 21%
Home Improvements & Furnishings 5%
Casey's General Store
Shops & Services
34,635 visits/mo
0.2 miles
McDonald's
Dining
27,807 visits/mo
0.4 miles
Phillips 66
Shops & Services
23,346 visits/mo
0.2 miles
Crowne Plaza Kearney
Hotels & Casinos
16,583 visits/mo
0.3 miles
Speedee Mart
Shops & Services
16,378 visits/mo
0.2 miles
Demographics for 68845, NE
20,304
Population
9,057
Households
2.2
Avg Household Size
33
Median Age
41%
College-Educated
94%
High-School Grad
123.7 sq mi
ZIP Area
164
Density / Sq Mi
$75,350
Median Household Income
$39,232
Median Earnings
$896
Median Rent
$274,200
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?
Retail space - Retail space for sale in Kearney, Nebraska.
Where is this retail space located?
The property is located at 300 3rd Ave Kearney, NE.
What is the asking price?
The asking price for this property is $3,950,000.
What are key features of this property?
This property features: Built in 2007, offering relatively modern construction.
