Standalone Medical Office
620 N Alpha St Grand Island, NE 68803
For Sale
$899,000
Standalone medical office building on a corner lot with private parking and exam-room and imaging support areas.
Property Size5,531 SF
Price / SF$162.54
Days on Market149
Property Features for 620 N Alpha St
General Information
- Standard status
- Active
- Size
- 5,531 SF
Listing Agency:
Berkshire Hathaway HomeServices Da-Ly Realty
(308) 380-6976
Listed By:
Jimmy Reed
(308) 380-6976
Source:
Exprealty
Added: Feb 24
Changed: Jul 23
Last Checked: Jul 23 at 4:32AM
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 Berkshire Hathaway HomeServices Da-Ly Realty
Investment Insights
Based on property information with market context.
Highly visible standalone medical office building on a prominent corner lot with private on-site parking. The property is currently configured for medical office use and includes a welcoming lobby with tall ceilings. Interior improvements feature a centrally located lab area with six pass-through medical exam rooms, as well as one large X-ray room and an additional consultation room.
The space also provides six offices and a large reception desk area, with four private restrooms and two public restrooms. A partially finished basement adds additional storage and functional space.
A lease option is available.
The space also provides six offices and a large reception desk area, with four private restrooms and two public restrooms. A partially finished basement adds additional storage and functional space.
A lease option is available.
Key Highlights
- Standalone medical office building on a prominent corner lot with private on‑site parking
- Currently configured for medical office use with a welcoming lobby featuring tall ceilings
- Central lab area with 6 pass‑through medical exam rooms
Financial Insights For Healthcare Medical
Simulate Cap Rate and NOI
NOI Build-Up
- 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.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $132.1k | $23.88 |
| − Vacancy | −$11.0k | −$1.98 |
| EGI | $121.1k | $21.90 |
| − OpEx | −$48.4k | −$8.76 |
| NOI | $72.7k | $13.14 |
5,531 SF · lease $23.88/SF/yr · vacancy 8.30% · expense 40.00%
Alternative Uses
Best Use
Healthcare Medical
$1.04M
$908.4K – $1.21M
NOI $72,671 @ 7.0% cap · market cap 8.08%
Second Best
Office B
$1.04M
$907.2K – $1.21M
NOI $72,579 @ 7.0% cap · market cap 8.07%
Theoretical Best
Office A
$1.38M
$1.21M – $1.61M
NOI $96,894 @ 7.0% cap · market cap 10.78%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Location Intelligence
Current Use by Public Records
Urological Associates
Physician
Dr. James C. ...
Physician
Mary Lanning Healthcare ...
Medical Clinic
CHI Health Clinic ...
Medical Clinic
Richard Koefoot
Physician
Similar Off Market Nearby
- Pet Hospital — 524 S Webb Rd, Grand Island, NE 68803
- Grand Island Veterinary Hospital — 512 S Webb Rd, Grand Island, NE 68803
FAQs
What type of property is this?
Medical Office Space - Standalone medical office building on a corner lot with private parking and exam-room and imaging support areas.
Where is this medical office space located?
The property is located at 620 N Alpha St Grand Island, NE.
What is the asking price?
The asking price for this property is $899,000.
What are key features of this property?
This property features: Standalone medical office building on a prominent corner lot with private on‑site parking; Currently configured for medical office use with a welcoming lobby featuring tall ceilings; Central lab area with 6 pass‑through medical exam rooms
