Residential Income Property with Group-Home
New
For Sale
$975,000
522 E 1st Street, Papillion, NE 68046
The site includes a lighted parking area, irrigation, and outdoor grounds.
Property Size5,892 SF
Price / SF$165.48
Days on Market2
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Property Features for 522 E 1st Street
General Information
Standard status
Active
Size
5,892 SF
Property subtype
Multi-Family
Additional Details
Sprinkler System
Yes
Building Details
Year Built
2003
Listing Agency:
Np Dodge Re Sales Inc 148Dodge
(402) 659-4432
Listed By:
Heidi Cline
(402) 350-9494
Source:
Tenaciousrealty
Added: Oct 14
Changed: Oct 15
Last Checked: Oct 14 at 10:28PM
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 Np Dodge Re Sales Inc 148Dodge
Investment Insights
Based on property information with market context.
At 522 E 1st Street, this residential income property has 5,892 square feet of building area and was built in 2003. The property is used as a residential group home and sits on a parcel exceeding 2 acres, with sprinklers, a lighted parking lot, and a landscaped backyard.
The property offers access to downtown Papillion, nearby businesses, and the surrounding community. Potential changes in use or redevelopment would be subject to applicable zoning, city approvals, and building requirements.
The property offers access to downtown Papillion, nearby businesses, and the surrounding community. Potential changes in use or redevelopment would be subject to applicable zoning, city approvals, and building requirements.
Key Highlights
- 5,892‑square‑foot building constructed in 2003
- Existing residential group‑home use
- More than 2 acres with sprinklers and a lighted parking lot
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$56,136
Cap Rate
5.76%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,122,720
$1.1M
Cap Rate 7%
$801,943
$801.9K
Cap Rate 9%
$623,733
$623.7K
Market Conditions
NOI Build-Up for 5,892 SF
Gross rent
$106.8K $18.12/SF
− Vacancy
−$4.7K −$0.80/SF
EGI
$102.1K $17.32/SF
− OpEx
−$45.9K −$7.80/SF
NOI
$56.1K $9.53/SF
Area
Sarpy County, NE
Vacancy
4.40%
Lease Rate
$18.12 /SF/Yr
Expense Ratio
45.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,122,720
Cap Rate 7%
$801,943
Cap Rate 9%
$623,733
Alternative Uses
Best Use
Apartment 5plus
$801.9K
$701.7K – $935.6K
NOI $56,136 @ 7.0% cap · market cap 5.76%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.58M
$1.38M – $1.84M
NOI $110,681 @ 7.0% cap · market cap 11.35%
Zoning and permitted uses should be independently verified with authorities.
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Property Analytics
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Open Analytics
Current Use
Lease Details
Yes
Sprinkler system
Location Intelligence
Trade Area within ½ mile
443
Businesses Nearby
Explore this area
Business Placement
Demographics for 68046, NE
32,242
Population
12,849
Households
2.5
Avg Household Size
36
Median Age
50%
College-Educated
97%
High-School Grad
28.0 sq mi
ZIP Area
1,152
Density / Sq Mi
$113,708
Median Household Income
$57,767
Median Earnings
$1,252
Median Rent
$331,800
Median Home Value
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Cap Rate, Value Estimation, Potential NOI and more
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Frequently Asked Questions
What type of property is this?
Residential income property - The site includes a lighted parking area, irrigation, and outdoor grounds.
Where is this residential income property located?
The property is located at 522 E 1st Street Papillion, NE.
What is the asking price?
The asking price for this property is $975,000.
What are key features of this property?
This property features: 5,892‑square‑foot building constructed in 2003; Existing residential group‑home use; More than 2 acres with sprinklers and a lighted parking lot
