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    808 P St Lincoln, NE 68508

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    For Lease
    Contact for pricing

    Historic Haymarket Office Suites, 950-3300 sq ft

    Lot size:
    3,300 SF

    Description

    Added:
    Dec 11, 2024
    Days on Market:
    408
    This exceptional office space, located within the prestigious Harpham Building in Lincoln's Historic Haymarket district, offers a unique blend of historic charm and modern convenience. Situated on the third floor, this single-tenant suite (comprising units 300, 306, and 312) provides flexible space options ranging from approximately 950 to 3300 square feet, accommodating businesses of various sizes. The suite's prime location directly across from the elevator ensures easy accessibility for clients and employees. The layout allows for a variety of configurations, including individual offices (ranging from 3 to 16), reception areas, and dedicated conference room space. The building boasts attractive hardwood floors and exposed brick walls, adding to its distinctive character and ambiance. Enjoy the convenience of nearby amenities, including Vincenzo's Restaurant on the first floor for lunch and Tavern on the Square for after-work gatherings. The building features a total of 50 parking spaces and elevators for easy access. The property is zoned B-4 and is part of the Downtown submarket, specifically the Historic Haymarket cluster, placing your business in Lincoln's most desirable location. This is a rare opportunity to establish your business in a highly sought-after area with a rich history and vibrant atmosphere. The building is a four-story structure.

    Property Features for 808 P St

    General Information

    Property type
    Office Properties & Spaces
    Lease Type
    Gross Lease
    RSF (Rentable sq. ft)
    3,300 SF

    Building Details

    Stories
    4

    Unit(s) available at that property

    Space
    Size
    3,300 SF

    We can help!

    Listing Contact
    Jonathan Camp
    Jonathan Camp

    Learn more

    Property Insight Report

    HighLights

    • Traditional office building in Lincoln's Historic Haymarket submarket.
    • Single‑tenant occupancy.
    • 950‑3,300 square feet available.
    • Four‑story building with 50 parking spaces and elevators.
    • Located at 300‑306‑312 Haymarket Square, near 8th & P Streets, zoned B‑4.
    Property Profile Location Intelligence

    Current Use by Public Records

    Watson & Carroll, P.C., ... Medical Lawyer Vincenzo's Florist | Same ... Gift Shop Pirsch Legal Services, ... Attorney Big Red Golf ... Association / Organization MeritDirect Internet Marketing Service

    Suggested Use

    Realty agency Restaurant Spa & Massage Dental Office Hair Salon Nail Salon Law Firm Clothing Store Building Supply Gym & Fitness

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

    Location Insight

    • Map
    • Local Demand
    City
    Lincoln
    County
    Lancaster
    State
    Nebraska
    Longitude
    -96.709350049496
    Latitude
    40.815140894906

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    FAQs

    What type of property is this?
    Office Property Space - Historic Haymarket Office Suites, 950-3300 sq ft
    Where is this office property space located?
    The property is located at 808 P St Lincoln, NE.
    What are key features of this property?
    This property features: Traditional office building in Lincoln's Historic Haymarket submarket.; Single-tenant occupancy.; 950-3,300 square feet available.
    Request Owner's contact information
    808 P St Lincoln, NE 68508
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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
    808 P St Lincoln, NE 68508
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    We can help!
    Listing Contact
    Jonathan Camp
    Jonathan Camp
    Real Estate License ID: NE
    Learn more
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