633 48th St Lincoln, NE 68504-3441

Property Details for 633 48th St

Year built

1995

Lot size

0.39 lot acres

Property size

6,224 SF

Zone code

B1

Property type

Retail space

APN

17-20-323-003-000

APU

1720323003000

Description

This exceptional investment opportunity presents a fee-simple, 6,100 square foot Outback Steakhouse in Lincoln, Nebraska. The property boasts a highly favorable Absolute NNN lease with approximately 1.8 years remaining, followed by two five-year options. The tenant, Outback Steakhouse, has occupied this location for over 25 years, demonstrating a strong commitment to the site. The current rent is significantly below market rate at $18 per square foot, resulting in a 5.75% cap rate and a substantial NOI of $104,647. Rent increases are structured at 10% every five years. Situated on a 0.39-acre lot, the building was constructed in 1995. The property benefits from its prime location in a dense, affluent area with over 226,500 people and 95,800 households within a five-mile radius, boasting an average household income of $76,099. Nearby retailers include Target, CVS, McDonald's, and other popular chains. The high traffic volume of over 20,000 vehicles per day further enhances the property's desirability. This is a rare chance to acquire a well-established, low-risk investment with significant upside potential. The property is less than two miles from the University of Nebraska, adding to its strong market position. This is a turnkey investment with minimal landlord responsibilities.

Location Insight

City

Lincoln

County

Lancaster

State

Nebraska

Longitude

-96.6542

Latitude

40.8195

CBSA code

30700

CBSA name

LINCOLN, NE METROPOLITAN STATISTICAL AREA

Property Tax & Assessments