Highway Frontage Commercial
For Sale
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713 Olson Dr, Papillion, NE 68046
Commercial property on Highway 370 with two access points.
Property Size3,802 SF
Price / SF$263.02
Days on Market1568
Property Features for 713 Olson Dr
General Information
Standard status
Active
Size
3,802 SF
Total Parking Spaces
12
Property subtype
Land, Office
Zoning
03-Commercial
Building Details
Year Built
1981
Buildings
1
Stories
1
Listing Agency:
Aulner Home Team
Listed By:
Aaron Aulner · License #Nebraska, 20110166
(402) 657-1229
Source:
Crexi
Added: Jun 29, 2022
Changed: Oct 2
Last Checked: Oct 12 at 6:13PM
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 Aulner Home Team
Investment Insights
Based on property information with market context.
This commercial property is located on Highway 370 and features two entrances to the access road. The existing structure, with a size of 3802 square feet, currently houses a self-service car wash. However, the property is grandfathered in such a way that it cannot continue to operate as a car wash under new ownership. The current structure could be repurposed as a shell for the build-out of office space.
Key Highlights
- Prime commercial property on HWY 370
- Two entrances to access road
- Existing structure suitable as a shell for office space buildout
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$49,841
Cap Rate
4.98%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$996,820
$996.8K
Cap Rate 7%
$712,014
$712.0K
Cap Rate 9%
$553,789
$553.8K
Market Conditions
NOI Build-Up for 3,802 SF
Gross rent
$69.8K $18.36/SF
− Vacancy
−$3.4K −$0.88/SF
EGI
$66.5K $17.48/SF
− OpEx
−$16.6K −$4.37/SF
NOI
$49.8K $13.11/SF
Area
Sarpy County, NE
Vacancy
4.80%
Lease Rate
$18.36 /SF/Yr
Expense Ratio
25.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$996,820
Cap Rate 7%
$712,014
Cap Rate 9%
$553,789
Alternative Uses
Best Use
Specialty Retail
$712.0K
$623.0K – $830.7K
NOI $49,841 @ 7.0% cap · market cap 4.98%
Second Best
Retail
$667.3K
$583.9K – $778.6K
NOI $46,713 @ 7.0% cap · market cap 4.67%
Theoretical Best
Office A
$1.02M
$892.8K – $1.19M
NOI $71,420 @ 7.0% cap · market cap 7.14%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
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Current Use
Location Intelligence
Trade Area within ½ mile
969
Businesses Nearby
Explore this area
Business Placement
Demographics for 68046, NE
32,242
Population
12,849
Households
2.5
Avg Household Size
36
Median Age
50%
College-Educated
97%
High-School Grad
28.0 sq mi
ZIP Area
1,152
Density / Sq Mi
$113,708
Median Household Income
$57,767
Median Earnings
$1,252
Median Rent
$331,800
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Retail in Midwest region
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Frequently Asked Questions
What type of property is this?
Self service car wash - Commercial property on Highway 370 with two access points.
Where is this self service car wash located?
The property is located at 713 Olson Dr Papillion, NE.
What is the asking price?
The asking price for this property is $1,000,000.
What are key features of this property?
This property features: Prime commercial property on HWY 370; Two entrances to access road; Existing structure suitable as a shell for office space buildout
