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    Prime Office Space Available Title is generated by Realmo AI

    421 S 9th St, Lincoln, NE 68508

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    Multi-tenant office space in the South Haymarket District.

    Type:Office
    Property size:
    34,242 SF
    Added:
    Oct 20, 2021
    Days on Market:
    1666
    Last Refresh:
    Mar 17 at 1:17 pm

    Property Features for 421 S 9th St

    General Information

    Standard status
    Active
    Size
    34,242 SF
    Property subtype
    Office

    Spaces For Lease

    at 421 S 9th St Contact us

    Suite 101 $14 /Mo

    Size
    1,587 SF
    Type
    Office
    This is the first suite as you walk into the building using the main entrance on...
    show more
    Contact us

    Suite 126 $14 /Mo

    Size
    2,148 SF
    Type
    Office
    Contact us

    Suite 107 $14 /Mo

    Size
    390 SF
    Type
    Office
    Single room suite, perfect for the small team or solo practitioner.
    Contact us

    Suite 112 $14 /Mo

    Size
    279 SF
    Type
    Office
    suite 112 consist of a cozy private office and waiting room. It is set up perfectly...
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    Contact us

    Suite 203 $14 /Mo

    Size
    449 SF
    Type
    Office
    Contact us

    Suite 205 $14 /Mo

    Size
    1,054 SF
    Type
    Office
    Former Law Office. This suite consists of 2 large private offices with ample natural...
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    Contact us

    Suite 211 $14 /Mo

    Size
    5,248 SF
    Type
    Office
    Large second floor office space with over 20 private offices, breakroom, reception/waiting...
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    We can help!

    Listing Contact
    Jonathan Johnson
    Jonathan Johnson

    Listing agent Jonathan Johnson License #20210612

    Listing office WRK LLC

    Listing date Oct 20, 2021

    Source Crexi

    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 WRK LLC

    HighLights

    • Prime location in the vibrant South Haymarket District.
    • Highly visible office space at the intersection of Rosa Parks Expressway and 9th Street.
    • Close walking distance to the Historic Haymarket, Downtown Core, and City/County Building.
    • 34,242 square foot multi‑tenant office space.
    • Ideal for office users of all sorts.
    • Excellent opportunity to establish a business in a sought‑after district.

    Overview

    The Heritage Square Building, located at 421 S 9th St, offers 34,242 square feet of multi-tenant office space for rent. Situated in the South Haymarket District at the intersection of Rosa Parks Expressway and 9th Street, the building provides highly visible office space. Its location offers convenient walking distance to the Historic Haymarket, Downtown Core, the City/County Building, and other government offices. This property is suitable for various office users looking to establish a business in a central location with access to city landmarks and amenities.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Tina M. Arsiaga, ... Counselor Chapin Law Office Law Firm Midtown Medical Group Medical Clinic Board-Parole Board Probation Office District Parole Office Probation Office

    Suggested Use

    Real Estate Agency Restaurant Spa & Massage Center Building Supply Dental Office Big Box & Wholesale Store Auto Repair Shop Hair Salon Nail Salon Pharmacy

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

    Location Insight

    • Map
    • Local Demand
    City
    Lincoln
    County
    Lancaster
    State
    Nebraska
    Longitude
    -96.7088613
    Latitude
    40.8176884

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    FAQs

    What type of property is this?
    Office building - Multi-tenant office space in the South Haymarket District.
    Where is this office building located?
    The property is located at 421 S 9th St Lincoln, NE.
    What are key features of this property?
    This property features: Prime location in the vibrant South Haymarket District.; Highly visible office space at the intersection of Rosa Parks Expressway and 9th Street.; Close walking distance to the Historic Haymarket, Downtown Core, and City/County Building.
    We can help!
    Contact for Pricing
    Please call us for current price
    and status of this listing Jonathan Johnson
    Jonathan Johnson
    Real Estate License ID: 20210612
    Learn More
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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
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