Brick Duplex with Rear
For Sale
$219,500
3510 A Street 1 & 2, Lincoln, NE 68510
Fully rented brick property with two one-bedroom units and shared lower-level laundry.
Property Size1,325 SF
Price / SF$165.66
Days on Market20
Property Features for 3510 A Street 1 & 2
General Information
Standard status
Active
Size
1,325 SF
Total Parking Spaces
2
Property subtype
Multi-Family
Occupancy
100%
Units
Unit Mix
2 x 1BR/1BA
Multifamily Units
2
Amenities
laundry area
green space
Building Details
Year Built
1958
Buildings
1
Construction
brick
Tenancy
Multi
Listing Agency:
Nebraska Realty
(308) 340-0581
Listed By:
Ryan Downing
Source:
Thatcheromaha
Added: Aug 14
Changed: Aug 29
Last Checked: Aug 30 at 8:43PM
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 Nebraska Realty
Investment Insights
Based on property information with market context.
Built in 1958, this brick duplex contains 1,325 SF across two one-bedroom, one-bath units, each measuring more than 600 SF. A laundry area is located in the lower-level common space. Both residences are occupied by long-term tenants who would like to remain, providing established tenancy at the property.
The building is located at 3510 A Street in Lincoln, Nebraska, with alley access and rear off-street parking. Two parking spaces are paved, and the property also includes green space behind the building.
The building is located at 3510 A Street in Lincoln, Nebraska, with alley access and rear off-street parking. Two parking spaces are paved, and the property also includes green space behind the building.
Key Highlights
- Two‑unit brick property built in 1958
- 1,325 SF total property size with each unit over 600 SF
- Each unit includes 1 bed and 1 bath
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
$13,147
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
5.99%
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%
$262,940
$262.9K
Cap Rate 7%
$187,814
$187.8K
Cap Rate 9%
$146,078
$146.1K
Market Conditions
NOI Build-Up for 1,325 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
$19.9K $15.00/SF
− Vacancy
−$1.1K −$0.83/SF
EGI
$18.8K $14.17/SF
− OpEx
−$5.6K −$4.25/SF
NOI
$13.1K $9.92/SF
Area
Lincoln, NE
Vacancy
5.50%
Lease Rate
$15.00 /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%
$262,940
Cap Rate 7%
$187,814
Cap Rate 9%
$146,078
Alternative Uses
Best Use
Multifamily LT 5
$187.8K
$164.3K – $219.1K
NOI $13,147 @ 7.0% cap · market cap 5.99%
Second Best
Apartment 5plus
$174.5K
$152.7K – $203.5K
NOI $12,212 @ 7.0% cap · market cap 5.56%
Theoretical Best
Office A
$324.8K
$284.2K – $379.0K
NOI $22,738 @ 7.0% cap · market cap 10.36%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Residential units
100%
Occupancy
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
582
Businesses Nearby
Explore this area
Business Placement
Demographics for 68510, NE
20,669
Population
9,871
Households
2.1
Avg Household Size
38
Median Age
40%
College-Educated
95%
High-School Grad
4.6 sq mi
ZIP Area
4,493
Density / Sq Mi
$64,183
Median Household Income
$41,632
Median Earnings
$857
Median Rent
$221,200
Median Home Value
Market
Vacancy Rate% for Multifamily in Midwest region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Duplex - Fully rented brick property with two one-bedroom units and shared lower-level laundry.
Where is this duplex located?
The property is located at 3510 A Street 1 & 2 Lincoln, NE.
What is the asking price?
The asking price for this property is $219,500.
What are key features of this property?
This property features: Two‑unit brick property built in 1958; 1,325 SF total property size with each unit over 600 SF; Each unit includes 1 bed and 1 bath
