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    Retail Space Near University Title is generated by Realmo AI

    5011 2nd Ave, Kearney, NE 68847

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    Retail space with high traffic near university and hospital.

    Type:Retail
    Added:
    Jan 28, 2019
    Days on Market:
    2661
    Last Refresh:
    Mar 17 at 1:13 pm

    Property Features for 5011 2nd Ave

    General Information

    Standard status
    Active
    Property subtype
    Retail

    Spaces For Lease

    at 5011 2nd Ave Contact us

    We can help!

    Listing Contact
    Brett Heimes
    Brett Heimes

    Listing agent Brett Heimes License #NE 20050415

    Listing office DP Management, LLC

    Listing date Jan 28, 2019

    Source Crexi

    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 DP Management, LLC

    HighLights

    • High traffic location: 25,000 vehicles per day on N 2nd Ave and 18,000 vehicles per day on I‑80.
    • Large trade area population: Good Samaritan Hospital provides specialty care to over 355,000 residents.
    • Significant student population: Over 12,000 students in the trade area.
    • Major event venue nearby: Viaero Event Center hosts more than 5 major events and averages over 130,000 visitors annually.
    • Abundant hotel rooms: Over 1,700 hotel rooms in the area.
    • Proximity to a large convention center: The state’s 3rd largest convention center is located nearby.

    Overview

    The property benefits from high traffic, with 25,000 vehicles per day on N 2nd Ave and 18,000 vehicles per day on I-80. The trade area includes a student population of over 12,000, with the University of Nebraska - Kearney having an enrollment of over 7,000. Good Samaritan Hospital provides specialty care to over 355,000 residents in central Nebraska and Northern Kansas. The area offers over 1,700 hotel rooms and the state’s 3rd largest convention center. The Viaero Event Center hosts more than 5 major events and averages over 130,000 visitors each year.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Kaw Valley Greenhouses Garden Center The Sequel Bookshop (Bike/Boat/Book/etc) Store Hilltop Mall Shopping Center & Mall Maurices Clothing & Fashion Store Franks Disposal and Dumpsters ... Waste Management Facility

    Suggested Use

    Real Estate Agency Law Firm Restaurant Spa & Massage Center Dental Office Hair Salon Nail Salon Building Supply Gym & Fitness Center Auto Repair Shop

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

    Location Insight

    • Map
    • Local Demand
    City
    Kearney
    County
    Buffalo
    State
    Nebraska
    Longitude
    -99.0793725
    Latitude
    40.7241363

    Nearby Similar for Lease

    • Contact for pricing

      Class A Office Building Space

      Office space in a mixed-use project near UNK campus.
      2204 University Dr, Kearney, NE 68845
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      Retail Space in Kearney, NE

      Retail space available for lease in Kearney, Nebraska.
      3901 2nd Ave, Kearney, NE
      View Details
    • Contact for pricing

      Retail Space in Kearney, Nebraska

      Retail space available for lease in Kearney, Nebraska.
      5011 2nd Avenue, Kearney, NE
      View Details
    • $20 SF/Yr

      Retail Space with Open Floorplan

      Retail space featuring an open floorplan and conference/break room.
      1420 W 24th St, Kearney, NE 68845
      View Details

    FAQs

    What type of property is this?
    Retail space - Retail space with high traffic near university and hospital.
    Where is this retail space located?
    The property is located at 5011 2nd Ave Kearney, NE.
    What are key features of this property?
    This property features: High traffic location: 25,000 vehicles per day on N 2nd Ave and 18,000 vehicles per day on I‑80.; Large trade area population: Good Samaritan Hospital provides specialty care to over 355,000 residents.; Significant student population: Over 12,000 students in the trade area.
    (402) 493-2800 Call to check price and availability
    We can help!
    Contact for Pricing
    Please call us for current price
    and status of this listing Brett Heimes
    Brett Heimes
    Real Estate License ID: NE 20050415
    Learn More
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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.

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