Office/Flex Building with
For Sale
Contact for pricing
Pending
3151 South St, Lincoln, NE 68502
Office/flex building on 0.55 acres with 25 on-site parking stalls and 3-phase electrical service.
Property Size7,728 SF
Lot Size0.55 Acres
Days on Market412
Property Features for 3151 South St
General Information
Standard status
Pending
Size
7,728 SF
Total Parking Spaces
25
Lot size
0.55 Acres
Property subtype
OFFICE
Zoning
B-1
Additional Details
Heavy Power
Yes
Building Details
Year Built
1975
Listing Agency:
NAI FMA Realty
(402) 441-5800
Listed By:
Thomas Graf, CCIM
(402) 202-7725
Source:
Moodyscre
Added: Jul 30, 2025
Changed: Sep 9
Last Checked: Sep 13 at 10:04AM
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 NAI FMA Realty
Investment Insights
Based on property information with market context.
This office/flex building offers a functional layout in a standalone setting, built in 1975. The property includes 3-phase electrical service and 25 on-site parking stalls, supporting a range of professional office or flex uses.
The building is zoned B-1 and is described as highly visible with excellent access to arterial routes, with close proximity to downtown Lincoln.
Available for sale, the property is configured as an office/flex space totaling 7,728 SF, positioned on 0.55 acres for owner-users or investors seeking adaptable commercial space.
The building is zoned B-1 and is described as highly visible with excellent access to arterial routes, with close proximity to downtown Lincoln.
Available for sale, the property is configured as an office/flex space totaling 7,728 SF, positioned on 0.55 acres for owner-users or investors seeking adaptable commercial space.
Key Highlights
- 7,728 SF office/flex building on 0.55 acres in central Lincoln
- Zoned B‑1, offering flexibility for a wide range of commercial uses
- 25 on‑site parking stalls
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
$75,241
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
8.13%
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%
$1,504,820
$1.5M
Cap Rate 7%
$1,074,871
$1.1M
Cap Rate 9%
$836,011
$836.0K
Market Conditions
NOI Build-Up for 7,728 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
$110.4K $14.28/SF
− Vacancy
−$2.9K −$0.37/SF
EGI
$107.5K $13.91/SF
− OpEx
−$32.2K −$4.17/SF
NOI
$75.2K $9.74/SF
Area
Lincoln, NE
Vacancy
2.60%
Lease Rate
$14.28 /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%
$1,504,820
Cap Rate 7%
$1,074,871
Cap Rate 9%
$836,011
Alternative Uses
Best Use
Healthcare Medical
$1.48M
$1.29M – $1.72M
NOI $103,493 @ 7.0% cap · market cap 11.19%
Second Best
Office B
$1.39M
$1.22M – $1.62M
NOI $97,373 @ 7.0% cap · market cap 10.53%
Theoretical Best
Office A
$1.89M
$1.66M – $2.21M
NOI $132,620 @ 7.0% cap · market cap 14.34%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
Current Use
Lease Details
Yes
Heavy power
Location Intelligence
Trade Area within ½ mile
526
Businesses Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Demographics for 68502, NE
27,238
Population
11,936
Households
2.3
Avg Household Size
36
Median Age
39%
College-Educated
90%
High-School Grad
6.7 sq mi
ZIP Area
4,065
Density / Sq Mi
$65,825
Median Household Income
$39,168
Median Earnings
$812
Median Rent
$220,500
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Office in Midwest region
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Frequently Asked Questions
What type of property is this?
Flex space - Office/flex building on 0.55 acres with 25 on-site parking stalls and 3-phase electrical service.
Where is this flex space located?
The property is located at 3151 South St Lincoln, NE.
What is the asking price?
The asking price for this property is $925,000.
What are key features of this property?
This property features: 7,728 SF office/flex building on 0.55 acres in central Lincoln; Zoned B‑1, offering flexibility for a wide range of commercial uses; 25 on‑site parking stalls
