Corner Office
For Sale
$280,000
721 W 7th St, Grand Island, NE 68801
Configured with private offices, flexible workspace, and dedicated parking.
Property Size1,848 SF
Price / SF$151.52
Days on Market133
Property Features for 721 W 7th St
General Information
Standard status
Active
Size
1,848 SF
Total Parking Spaces
5
Taxes and HOA fees
Annual Taxes
$2,854
Building Details
Buildings
1
Listing Agency:
Summit Real Estate
(308) 850-8162
Listed By:
Rocio Esparza-Guerrero
(308) 383-8047
Source:
Exprealty
Added: Jun 5
Changed: Oct 6
Last Checked: Oct 12 at 9:25PM
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 Summit Real Estate
Investment Insights
Based on property information with market context.
This office building is arranged for professional operations, with a reception area, waiting room, seven private offices, and a flexible room that can function as a conference room, break room, or additional office. An ADA-accessible ramp serves the front east entrance. The property includes five dedicated parking spaces, with additional street parking available. Commercial zoning supports a range of professional and business uses. Positioned on a prominent corner lot at 721 W 7th St in Grand Island, Nebraska, the building offers a visible setting for an owner-user or office investment property.
Key Highlights
- Seven private offices plus reception and waiting areas
- Flexible room suited for conference, break, or office use
- ADA‑accessible ramp at the front east entrance
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$24,250
Cap Rate
8.66%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$485,000
$485.0K
Cap Rate 7%
$346,429
$346.4K
Cap Rate 9%
$269,444
$269.4K
Market Conditions
NOI Build-Up for 1,848 SF
Gross rent
$35.3K $19.08/SF
− Vacancy
−$2.9K −$1.58/SF
EGI
$32.3K $17.50/SF
− OpEx
−$8.1K −$4.37/SF
NOI
$24.2K $13.12/SF
Area
Hall County, NE
Vacancy
8.30%
Lease Rate
$19.08 /SF/Yr
Expense Ratio
25.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$485,000
Cap Rate 7%
$346,429
Cap Rate 9%
$269,444
Alternative Uses
Best Use
Office B
$346.4K
$303.1K – $404.2K
NOI $24,250 @ 7.0% cap · market cap 8.66%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$462.5K
$404.7K – $539.6K
NOI $32,374 @ 7.0% cap · market cap 11.56%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
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Current Use
Location Intelligence
Trade Area within ½ mile
966
Businesses Nearby
Explore this area
Business Placement
Demographics for 68801, NE
30,440
Population
11,684
Households
2.6
Avg Household Size
34
Median Age
17%
College-Educated
81%
High-School Grad
90.0 sq mi
ZIP Area
338
Density / Sq Mi
$63,214
Median Household Income
$37,995
Median Earnings
$931
Median Rent
$186,600
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Office in Midwest region
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Frequently Asked Questions
What type of property is this?
Office building - Configured with private offices, flexible workspace, and dedicated parking.
Where is this office building located?
The property is located at 721 W 7th St Grand Island, NE.
What is the asking price?
The asking price for this property is $280,000.
What are key features of this property?
This property features: Seven private offices plus reception and waiting areas; Flexible room suited for conference, break, or office use; ADA‑accessible ramp at the front east entrance
