345 N 23rd St, Lincoln, NE 68503

Listing office Woods Bros Realty Show Phone

Listing date Jun 25, 2025

Source Exprealty

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Overview

The property is improved with a $3,750,000 mixed-use building that includes retail and housing. It is offered for sale with a 99-year ground lease in place that began July 1, 2021. The lease is an absolute NNN structure, with no landlord responsibilities or expenses assigned to the ground lessor.

The asset is located at 345 N 23rd St, Lincoln, NE. Rent is set to $1,585.14 per month as of July 1, 2025, and annual rental increases apply at 2%, or the consumer price index, whichever is greater. The ground lease includes scheduled rate bumps typically occurring at 5-10 year increments and are described as annual and compounding.

This offering is positioned as a ground lease sale where the property itself is stated to be free and clear, with no debt on the improvements. The list price is based on a 6% cap rate, taking into account the lease’s rent escalation terms. Offers will require a three-week response time to an RFR, and underwriting and timing should be planned accordingly for investors and lease-focused buyers.

Suggested Use

Dental Office Real Estate Agency Hair Salon Plumbing Service Grocery & Convenience Store Garden Center Spa & Massage Center Carpet & Flooring Store Computer & Electronic Repair Bakery

Zoning and permitted uses should be independently verified with local authorities.

Location Insight

• Map
• Local Demand

City

Lincoln

County

Lancaster

State

Nebraska

Longitude

-96.7538692

Latitude

40.8163969

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FAQs

What type of property is this?

Mixed-use property - 99-year absolute NNN ground lease over a mixed-use retail and housing building.

Where is this mixed-use property located?

The property is located at 345 N 23rd St Lincoln, NE.

What is the asking price?

The asking price for this property is $292,640.

What are key features of this property?

This property features: 99‑year absolute NNN ground lease in place beginning July 1, 2021; Monthly rent of $1,585.14 effective July 1, 2025; Annual rental increases of 2% or the CPI, whichever is greater