Commercial Condo Investment
For Sale
Contact for pricing
Pending
5308 Parklane Dr, Kearney, NE 68847
Unique commercial condo with three triple net leases in place.
Property Size7,430 SF
Days on Market647
Property Features for 5308 Parklane Dr
General Information
Standard status
Pending
Size
7,430 SF
Class
B
Total Parking Spaces
50
Property subtype
Office
Zoning
C-2/PD
Occupancy
100%
Lease Type
NNN
Investment Type
Owner/User
Net Operating Income
$85,350
Building Details
Year Built
2006
Stories
1
Units
3
Tenancy
Multi
Listing Agency:
kearney realty
(308) 627-1505
Listed By:
Ryan Bruna · License #20170581
Source:
Crexi
Added: Nov 15, 2024
Changed: Aug 9
Last Checked: Aug 21 at 1:25PM
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 kearney realty
Investment Insights
Based on property information with market context.
This commercial condo presents a great investment opportunity, featuring distinctive architecture and an exceptional brick exterior. The sale includes two units (C & D), comprising three spacious suites with triple net leases already in place. Shared parking is available for tenants and clients. Condo dues cover snow removal, lawn care, exterior insurance, and exterior maintenance, offering a low-maintenance investment. The square footage is approximately 7430 square feet.
Key Highlights
- Three fresh triple net leases in place provide immediate income.
- Low maintenance investment due to condo dues covering essential exterior services.
- Prime commercial condo with distinctive architecture.
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$67,525
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
5.30%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$1,350,500
$1.4M
Cap Rate 7%
$964,643
$964.6K
Cap Rate 9%
$750,278
$750.3K
Market Conditions
NOI Build-Up for 7,430 SF
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.
Gross rent
$98.1K $13.20/SF
− Vacancy
−$8.0K −$1.08/SF
EGI
$90.0K $12.12/SF
− OpEx
−$22.5K −$3.03/SF
NOI
$67.5K $9.09/SF
Area
Buffalo County, NE
Vacancy
8.20%
Lease Rate
$13.20 /SF/Yr
Expense Ratio
25.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$1,350,500
Cap Rate 7%
$964,643
Cap Rate 9%
$750,278
Alternative Uses
Best Use
Office B
$964.6K
$844.1K – $1.13M
NOI $67,525 @ 7.0% cap · market cap 5.30%
Second Best
—
—
no second resolved use
Theoretical Best
Healthcare Medical
$1.39M
$1.22M – $1.63M
NOI $97,621 @ 7.0% cap · market cap 7.66%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
510
Businesses Nearby
Explore this area
Business Placement
Demographics for 68847, NE
18,458
Population
7,751
Households
2.4
Avg Household Size
37
Median Age
35%
College-Educated
94%
High-School Grad
109.6 sq mi
ZIP Area
168
Density / Sq Mi
$74,877
Median Household Income
$41,263
Median Earnings
$951
Median Rent
$229,200
Median Home Value
Market
Vacancy Rate% for Office in Midwest region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Office units - Unique commercial condo with three triple net leases in place.
Where is this office units located?
The property is located at 5308 Parklane Dr Kearney, NE.
What is the asking price?
The asking price for this property is $1,275,000.
What are key features of this property?
This property features: Three fresh triple net leases in place provide immediate income.; Low maintenance investment due to condo dues covering essential exterior services.; Prime commercial condo with distinctive architecture.
