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    705 N Burlington Ave Hastings, NE 68901

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    For Sale
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    Absolute NNN lease with rental escalations and strong store ranking.

    Property size:
    13,348 SF
    Lot size:
    0.95 Acres

    Property Features for 705 N Burlington Ave

    General Information

    Standard status
    Active
    Zoning
    C
    Size
    13,348 SF
    Lot size
    0.95 Acres

    Building Details

    Year built
    1994

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    Listing Contact
    Justin Zahn
    Source: Crexi

    Listing Agency: Commercial Investment Advisors (CIA) Scottsdale Listing Agent: Justin Zahn

    Displayed information is deemed reliable but is not guaranteed and should be independently verified.

    Learn more

    Overview

    Walgreens NNN Lease Investment Opportunity

    This property is leased to Walgreens, a retail pharmacy company with 8,043 locations as of February 2026. The property has 12+ years remaining on an initial 15-year Absolute NNN lease, featuring 5% rental escalations every 5 years. The Walgreens store is ranked in the top 65th percentile (2,302 out of 6,714) of Walgreens stores in North America (2026 per Placer.ai). Notably, it is the only Walgreens pharmacy within a 22-mile radius. The property is positioned on a 10.95-acre parcel at the signalized northwest corner of W 7th St & N Burlington Ave, providing visibility and access with traffic counts of 25,225 CPD. It is located blocks away from the only hospital serving a 20-mile radius and across the street from Russ’s Market. Other major retailers in Hastings include Walmart, Menards, Bomgaars, Tractor Supply, Big G Ace Hardware, Dollar General, Dollar Tree, Family Dollar, O’Reilly Auto Parts, and NAPA Auto Parts. The property is 1.5 miles from Hastings College, a private liberal arts institution with approximately 959 students, and 4.5 miles from Central Community College Hastings, which enrolls about 1,400 students. Additionally, it is less than 0.5 miles from Mary Lanning Healthcare, a non-profit organization licensed for 183 beds.
    Location Intelligence

    Current Use by Public Records

    Coinhub Bitcoin ATM ... Atm Walgreens Pharmacy Pharmacy Redbox Cinema FedEx OnSite Postal Service Walgreens Cosmetic Store

    Suggested Use

    Real Estate Agency Law Firm Restaurant Spa & Massage Center Dental Office Hair Salon Nail Salon Building Supply Gym & Fitness Center Pharmacy

    Zoning and permitted uses should be independently verified with local authorities.

    Similar Places Nearby

    American HomePatient, Joslyn Uden, Dennis Mchale, Louis Stoeger, Reflect Light Company

    Location Insight

    • Map
    • Local Demand
    City
    Hastings
    County
    Adams
    State
    Nebraska
    Longitude
    -98.392095
    Latitude
    40.576285

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    FAQs

    What type of property is this?
    Drug store - Absolute NNN lease with rental escalations and strong store ranking.
    Where is this drug store located?
    The property is located at 705 N Burlington Ave Hastings, NE.
    What are key features of this property?
    This property features: - Absolute NNN lease with 12+ years remaining and rare 5% rental escalations every 5 years.; - Ranked in the top 65th percentile of Walgreens stores in North America (2026 per Placer.ai).; - Only Walgreens pharmacy in a 22-mile radius.
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    Hastings, NE 68901
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    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    705 N Burlington Ave Hastings, NE 68901
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    We can help!
    Listing Contact
    Justin Zahn
    Real Estate License ID: SA545840000
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