Absolute NNN Ground Lease
For Sale
$292,640
Pending
345 N 23rd St, Lincoln, NE 68503
99-year absolute NNN ground lease over a mixed-use retail and housing building.
Property SizeContact for details
Days on Market425
Property Features for 345 N 23rd St
General Information
Standard status
Pending
Property subtype
Land
Additional Details
Cap Rate
6%
Listing Agency:
Woods Bros Realty
(402) 304-0540
Listed By:
Joseph A. Mara
(402) 304-0540
Source:
Exprealty
Added: Jun 25, 2025
Changed: Aug 21
Last Checked: Aug 23 at 5:53AM
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 Woods Bros Realty
Investment Insights
Based on property information with market context.
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.
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.
Key Highlights
- 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
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
259
Businesses Nearby
40k
Monthly Visits Nearby
Explore this area
Business Placement
Foot Traffic Nearby
Shops & Services 95%
Hotels & Casinos 4%
Home Improvements & Furnishings 2%
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0.2 miles
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8,928 visits/mo
0.3 miles
Phillips 66
Shops & Services
1,974 visits/mo
0.5 miles
Super 8 Lincoln West
Hotels & Casinos
916 visits/mo
0.3 miles
MHC Kenworth - Lincoln
Shops & Services
830 visits/mo
0.5 miles
Demographics for 68503, NE
15,064
Population
6,851
Households
2.2
Avg Household Size
28
Median Age
38%
College-Educated
82%
High-School Grad
2.9 sq mi
ZIP Area
5,194
Density / Sq Mi
$50,886
Median Household Income
$27,909
Median Earnings
$974
Median Rent
$158,900
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?
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
