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    Vacant Land Parcel with Road Easement Title is generated by Realmo AI

    South Buffalo Bill Development, North Platte, NE 69101

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    For Sale
    $3,292,650

    Vacant Land - North Platte, NE

    Lot size:
    205.00 Acres
    Added:
    Sep 12, 2025
    Days on Market:
    265
    Last Refresh:
    Jun 3 at 9:06 pm

    Property Features for South Buffalo Bill Development

    General Information

    Property type
    Land
    Property subtype
    Other
    Parking features
    Garage
    Standard status
    Active
    Lot size
    205.00 Acres

    Taxes and HOA fees

    Tax Annual Amount
    0

    Building Details

    Architectural style
    Other

    We can help!

    Listing Contact
    Jordan Maassen

    Listing agent Jordan Maassen

    Listing office Lashley Land and Recreational Brokers 2218 E. Walker Road, North Platte, NE

    Listing date Sep 12, 2025

    MLS# 11573953 Listing URL

    Copyright © 2026 My State MLS. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.

    HighLights

    • Multi‑parcel offering on North Platte’s south edge with frontage on S. Buffalo Bill Ave and W. State Farm Rd (8 distinct parcels).
    • Dedicated access: deeded 66 road easement off S. Buffalo Bill Ave; State Farm Rd access subject to county approval.
    • S. Buffalo Bill Ave corridor shows a 12% increase in daily traffic over the past two years, per seller‑provided remarks.
    • Buffalo Frontage Lot: approx. 1,226 ft of direct S. Buffalo Bill Ave frontage; potential for frontage road and multiple commercial parcels.
    • North Grass (55.66+/- acres) is adjacent to Indian Meadows Golf Course and primarily within the 0.2% floodplain.
    • W. State Farm Rd parcels include flat topography and nearby utilities, plus county verbal agreement to install a culvert for access.

    Overview

    This offering consists of eight distinct vacant land parcels on the southern edge of North Platte. All parcels are currently in hay production. Several areas feature natural amenities such as a tree line and, on select tracts, two scenic ponds. The sellers indicate openness to flexible parcel configurations or redraws, provided reasonable access is maintained, and all parcels must be surveyed prior to closing with survey costs shared equally between buyer and seller.

    The development frontage is split between S. Buffalo Bill Avenue and W. State Farm Road. Access off S. Buffalo Bill Avenue includes a deeded 66 road easement, while entrances from State Farm Road are subject to county approval, with a verbal agreement noted to install a culvert for property access on the State Farm Road parcels. The Buffalo frontage parcels are described as having direct frontage on S. Buffalo Bill Avenue, and the listing notes a 12% increase in daily traffic over the past two years. One tract is primarily within the 0.2% floodplain and is adjacent to Indian Meadows Golf Course, and another includes a grain bin and irrigation well.

    For tenants, buyers, or operators, the tract’s configuration and dual-road frontage are positioned for mixed development concepts, including commercial, residential, recreational, or mixed-use use cases as described in the offering. The combination of hay-current operations, deeded easement access, and flat topography on the State Farm Road parcels may support phased planning around future improvements and site access requirements.
    Location Intelligence

    Current Use by Public Records

    Commercial land

    Map

    City
    North Platte
    County
    Lincoln
    State
    Nebraska
    Longitude
    -100.793347
    Latitude
    41.097138

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    FAQs

    What type of property is this?
    Agricultural land / Farmland - Multi-parcel development tract with deeded 66 road easement and frontage on two roads, currently farmed in hay.
    Where is this agricultural land / farmland located?
    The property is located at South Buffalo Bill Development North Platte, NE.
    What is the asking price?
    The asking price for this property is $3,292,650.
    What are key features of this property?
    This property features: Multi‑parcel offering on North Platte’s south edge with frontage on S. Buffalo Bill Ave and W. State Farm Rd (8 distinct parcels).; Dedicated access: deeded 66 road easement off S. Buffalo Bill Ave; State Farm Rd access subject to county approval.; S. Buffalo Bill Ave corridor shows a 12% increase in daily traffic over the past two years, per seller‑provided remarks.
    (308) 532-9300
    We can help!
    Listing Contact
    Jordan Maassen
    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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