Medical Office with Exam
For Sale
$900,000
830 N Alpha St, Grand Island, NE 68803
A substantial clinical buildout includes patient areas, treatment space, private offices, and dedicated staff facilities.
Property Size4,936 SF
Price / SF$182.33
Days on Market16
Property Features for 830 N Alpha St
General Information
Standard status
Active
Size
4,936 SF
Total Parking Spaces
30
Additional Details
Property Use
Medical Office
Medical Specialty
ophthalmology
Taxes and HOA fees
Annual Taxes
$8,882
Building Details
Construction
brick
Listing Agency:
Babcock Real Estate
Listed By:
Tracy Babcock · License #NE 20120066
(308) 390-5904
Source:
Exprealty
Added: Oct 19
Changed: Nov 1
Last Checked: Nov 3 at 12:28PM
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 Babcock Real Estate
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Investment Insights
Based on property information with market context.
This 4,936-square-foot medical office is arranged as an ophthalmology clinic, with a reception area, retail space, and a large main waiting room. Clinical areas include 7 exam rooms with sinks, a treatment room with exterior double doors, a second waiting area, a nurses’ station, and a work area. The office portion provides 4 private offices and 2 executive offices with a shared private bathroom. A break room, patient and staff restrooms, and storage complete the interior. Two recently updated HVAC units serve the property.
Approximately 30 on-site parking spaces support the building. Its existing medical configuration also includes separate patient and staff areas and multiple office spaces.
Approximately 30 on-site parking spaces support the building. Its existing medical configuration also includes separate patient and staff areas and multiple office spaces.
Key Highlights
- 4,936‑square‑foot medical office configured as an ophthalmology clinic
- 7 exam rooms, each with a sink
- Treatment room has exterior‑access double doors
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$64,853
Cap Rate
7.21%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,297,060
$1.3M
Cap Rate 7%
$926,471
$926.5K
Cap Rate 9%
$720,589
$720.6K
Market Conditions
NOI Build-Up for 4,936 SF
Gross rent
$117.9K $23.88/SF
− Vacancy
−$9.8K −$1.98/SF
EGI
$108.1K $21.90/SF
− OpEx
−$43.2K −$8.76/SF
NOI
$64.9K $13.14/SF
Area
Hall County, NE
Vacancy
8.30%
Lease Rate
$23.88 /SF/Yr
Expense Ratio
40.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,297,060
Cap Rate 7%
$926,471
Cap Rate 9%
$720,589
Alternative Uses
Best Use
Healthcare Medical
$926.5K
$810.7K – $1.08M
NOI $64,853 @ 7.0% cap · market cap 7.21%
Second Best
Office B
$925.3K
$809.7K – $1.08M
NOI $64,772 @ 7.0% cap · market cap 7.20%
Theoretical Best
Office A
$1.24M
$1.08M – $1.44M
NOI $86,471 @ 7.0% cap · market cap 9.61%
Zoning and permitted uses should be independently verified with authorities.
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Current Use
Location Intelligence
Trade Area within ½ mile
861
Businesses Nearby
Under-served
Demand for This Use
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Business Placement
Demographics for 68803, NE
26,487
Population
11,188
Households
2.4
Avg Household Size
38
Median Age
25%
College-Educated
87%
High-School Grad
86.9 sq mi
ZIP Area
305
Density / Sq Mi
$70,040
Median Household Income
$44,795
Median Earnings
$888
Median Rent
$224,100
Median Home Value
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Market
Vacancy Rate% for Office in Midwest region
Frequently Asked Questions
What type of property is this?
Medical Office Space - A substantial clinical buildout includes patient areas, treatment space, private offices, and dedicated staff facilities.
Where is this medical office space located?
The property is located at 830 N Alpha St Grand Island, NE.
What is the asking price?
The asking price for this property is $900,000.
What are key features of this property?
This property features: 4,936‑square‑foot medical office configured as an ophthalmology clinic; 7 exam rooms, each with a sink; Treatment room has exterior‑access double doors
