New Commercial Condos in
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4040 N 48th St Condos 1-3, Lincoln, NE 68504
New commercial condos for sale in Northeast Lincoln.
Property Size6,180 SF
Price / SF$155
Days on Market1100
Property Features for 4040 N 48th St Condos 1-3
General Information
Standard status
Active
Size
6,180 SF
Property subtype
Industrial
Zoning
Industrial
Building Details
Year Built
2023
Listing Agency:
Nebraska Realty
Listed By:
Sean Velte · License #NE 20190426
Source:
Crexi
Added: Aug 21, 2023
Changed: Aug 23
Last Checked: Aug 22 at 6:40AM
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 Nebraska Realty
Investment Insights
Based on property information with market context.
New commercial condos are available for sale in Northeast Lincoln. Located at 4040 N 48th Street, Condos 1-3, the total square footage for sale is 6,180. Each condo measures 30' x 70', totaling 6,300 square feet; however, 120 square feet within Condos 1-3 belongs to the Condo Association and has been walled off. The sale of Condos 1-3 includes two 14x14 overhead insulated doors with operators, a 200 amp electrical panel with 110 outlets, two forced air gas heaters with thermostats, overhead LED light fixtures, floor drains, and a glass storefront with an overhead canopy. Each unit will also have a restroom with a sink and toilet. The building features 6" concrete with fiber mesh, while the parking lot has 7" concrete with fiber mesh. Association dues apply. The property offers easy access to Highway 6 and Interstate 80, with over 19,000 vehicles passing the location daily.
Key Highlights
- Brand new commercial condos in NE Lincoln.
- Easy access to Highway 6 and Interstate 80.
- High traffic location: Over 19,000 vehicles daily.
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
$60,169
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
6.28%
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%
$1,203,380
$1.2M
Cap Rate 7%
$859,557
$859.6K
Cap Rate 9%
$668,544
$668.5K
Market Conditions
NOI Build-Up for 6,180 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
$88.3K $14.28/SF
− Vacancy
−$2.3K −$0.37/SF
EGI
$86.0K $13.91/SF
− OpEx
−$25.8K −$4.17/SF
NOI
$60.2K $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%
$1,203,380
Cap Rate 7%
$859,557
Cap Rate 9%
$668,544
Alternative Uses
Best Use
Industrial
$859.6K
$752.1K – $1.00M
NOI $60,169 @ 7.0% cap · market cap 6.28%
Second Best
Flex RnD
$841.5K
$736.3K – $981.8K
NOI $58,905 @ 7.0% cap · market cap 6.15%
Theoretical Best
Office A
$1.52M
$1.33M – $1.77M
NOI $106,055 @ 7.0% cap · market cap 11.07%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
494
Businesses Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Demographics for 68504, NE
17,155
Population
8,793
Households
2
Avg Household Size
31
Median Age
33%
College-Educated
93%
High-School Grad
7.0 sq mi
ZIP Area
2,451
Density / Sq Mi
$52,159
Median Household Income
$32,787
Median Earnings
$1,014
Median Rent
$169,000
Median Home Value
Market
Vacancy Rate% for Industrial in Midwest region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Flex space - New commercial condos for sale in Northeast Lincoln.
Where is this flex space located?
The property is located at 4040 N 48th St Condos 1-3 Lincoln, NE.
What is the asking price?
The asking price for this property is $957,900.
What are key features of this property?
This property features: Brand new commercial condos in NE Lincoln.; Easy access to Highway 6 and Interstate 80.; High traffic location: Over 19,000 vehicles daily.
