Office Building with Flexible
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5790 N 33rd St, Lincoln, NE 68504
Office property combines finished clinical space with an unfinished area suited to a customized interior plan.
Property Size5,388 SF
Price / SF$164.25
Days on Market14
Property Features for 5790 N 33rd St
General Information
Standard status
Active
Size
5,388 SF
Property subtype
OFFICE
Listing Agency:
LINE Partners
(402) 875-3600
Listed By:
Pat Heiser
(402) 875-3600
Source:
Moodyscre
Added: Aug 10
Changed: Aug 16
Last Checked: Aug 22 at 7:30AM
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 LINE Partners
Investment Insights
Based on property information with market context.
The property is a 5,388-square-foot office building with a combination of completed and unfinished space. Its 3,388-square-foot finished portion includes five treatment rooms, a reception area, breakroom, two private offices, storage, and an open exercise and therapy area. An additional 2,000 square feet remains unfinished for a custom build-out.
Positioned at 5790 N 33rd St in Lincoln, the building is near North Star High School, established medical providers, and the planned North Star Crossing mixed-use development. The site has visibility and access along North 33rd St. The configuration supports office, medical, or retail occupancy, and the property is offered for purchase or lease.
Positioned at 5790 N 33rd St in Lincoln, the building is near North Star High School, established medical providers, and the planned North Star Crossing mixed-use development. The site has visibility and access along North 33rd St. The configuration supports office, medical, or retail occupancy, and the property is offered for purchase or lease.
Key Highlights
- 5,388 SF office building at 5790 N 33rd St, Lincoln, NE 68504
- 3,388 SF finished area with 5 treatment rooms and an open exercise/therapy area
- 2,000 SF unfinished space available for custom build‑out
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
$72,156
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
8.15%
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%
$1,443,120
$1.4M
Cap Rate 7%
$1,030,800
$1.0M
Cap Rate 9%
$801,733
$801.7K
Market Conditions
NOI Build-Up for 5,388 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
$129.3K $24.00/SF
− Vacancy
−$9.1K −$1.68/SF
EGI
$120.3K $22.32/SF
− OpEx
−$48.1K −$8.93/SF
NOI
$72.2K $13.39/SF
Area
Lincoln, NE
Vacancy
7.00%
Lease Rate
$24.00 /SF/Yr
Expense Ratio
40.00%
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%
$1,443,120
Cap Rate 7%
$1,030,800
Cap Rate 9%
$801,733
Alternative Uses
Best Use
Healthcare Medical
$1.03M
$902.0K – $1.20M
NOI $72,156 @ 7.0% cap · market cap 8.15%
Second Best
Office B
$969.8K
$848.6K – $1.13M
NOI $67,889 @ 7.0% cap · market cap 7.67%
Theoretical Best
Office A
$1.32M
$1.16M – $1.54M
NOI $92,463 @ 7.0% cap · market cap 10.45%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
280
Businesses Nearby
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 Office in Midwest region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Office building - Office property combines finished clinical space with an unfinished area suited to a customized interior plan.
Where is this office building located?
The property is located at 5790 N 33rd St Lincoln, NE.
What is the asking price?
The asking price for this property is $885,000.
What are key features of this property?
This property features: 5,388 SF office building at 5790 N 33rd St, Lincoln, NE 68504; 3,388 SF finished area with 5 treatment rooms and an open exercise/therapy area; 2,000 SF unfinished space available for custom build‑out
