Downtown Bar/Nightclub/Gallery Space For
For Sale
Contact for pricing
1140 O St, Lincoln, NE 68508
Downtown bar/nightclub/gallery space with commercial kitchen.
Property Size5,906 SF
Price / SF$245.51
Days on Market674
Property Features for 1140 O St
General Information
Standard status
Active
Size
5,906 SF
Property subtype
Retail
Zoning
B4 - Lincoln Center Business
Investment Type
Redevelopment
Building Details
Year Built
1990
Stories
3
Listing Agency:
Woods Bros Realty
(402) 730-3564
Listed By:
John Nanos · License #940652
Source:
Crexi
Added: Oct 7, 2024
Changed: Aug 8
Last Checked: May 12 at 10:23PM
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 Woods Bros Realty
Investment Insights
Based on property information with market context.
This downtown property is available for sale and currently operates as a bar, nightclub, and gallery. The first floor features a fully functional hospitality space with a complete commercial kitchen. The second and third floors offer a blank canvas, presenting a rehabilitation opportunity to customize the space. The property has a total size of 5906 square feet. This property is located in Lincoln, Nebraska.
Key Highlights
- Fully functional first‑floor hospitality space with a full commercial kitchen.
- Opportunity to build out the second and third floors to suit specific needs.
- Located in a downtown area.
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
$80,794
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
5.57%
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%
$1,615,880
$1.6M
Cap Rate 7%
$1,154,200
$1.2M
Cap Rate 9%
$897,711
$897.7K
Market Conditions
NOI Build-Up for 5,906 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
$113.4K $19.20/SF
− Vacancy
−$5.7K −$0.96/SF
EGI
$107.7K $18.24/SF
− OpEx
−$26.9K −$4.56/SF
NOI
$80.8K $13.68/SF
Area
Lincoln, NE
Vacancy
5.00%
Lease Rate
$19.20 /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%
$1,615,880
Cap Rate 7%
$1,154,200
Cap Rate 9%
$897,711
Alternative Uses
Best Use
Specialty Retail
$1.15M
$1.01M – $1.35M
NOI $80,794 @ 7.0% cap · market cap 5.57%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.45M
$1.27M – $1.69M
NOI $101,353 @ 7.0% cap · market cap 6.99%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
3,511
Businesses Nearby
144k
Monthly Visits Nearby
Well-served
Demand for This Use
Explore this area
Business Placement
Foot Traffic Nearby
Hotels & Casinos 41%
Dining 39%
Shops & Services 20%
Wendy's
Dining
16,699 visits/mo
0.2 miles
Courtyard Lincoln Downtown/Haymarket
Hotels & Casinos
13,760 visits/mo
0.4 miles
Embassy Suites By Hilton Lincoln
Hotels & Casinos
12,192 visits/mo
0.2 miles
The Lincoln Marriott Cornhusker Hotel
Hotels & Casinos
11,718 visits/mo
0.2 miles
Hyatt Place
Hotels & Casinos
9,033 visits/mo
0.5 miles
Demographics for 68508, NE
17,249
Population
7,076
Households
2.4
Avg Household Size
24
Median Age
35%
College-Educated
90%
High-School Grad
3.0 sq mi
ZIP Area
5,750
Density / Sq Mi
$33,561
Median Household Income
$10,349
Median Earnings
$760
Median Rent
$121,400
Median Home Value
Market
Vacancy Rate% for Retail in Midwest region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Similar Off Market Nearby
- Night Before Lounge — 1035 m st, lincoln, ne 68508
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- My Little Ponys Skiviti House — Lincoln Mall, Lincoln, NE 68508
- The Beacon Lounge — 311 S 11th St, Lincoln, NE 68508
Frequently Asked Questions
What type of property is this?
Bar & Pub - Downtown bar/nightclub/gallery space with commercial kitchen.
Where is this bar & pub located?
The property is located at 1140 O St Lincoln, NE.
What is the asking price?
The asking price for this property is $1,450,000.
What are key features of this property?
This property features: Fully functional first‑floor hospitality space with a **full commercial kitchen**.; Opportunity to build out the second and third floors to suit specific needs.; Located in a downtown area.
