1307 3Rd St Alliance, NE 69301
- Lifestyle centers
- 58,000 SF
- 6.10 lot acres
Current Use by Public Records
- Lifestyle centers
Property Details for 1307 3Rd St
- Year built
- 1980
- Lot size
- 6.10 lot acres
- Property size
- 58,000 SF
- Property type
- Lifestyle centers
- Property subtype
- Power centers
Description
This exceptional retail investment property, located at 1325 W 3rd St, Alliance, NE 69301, presents a compelling redevelopment opportunity. The 58,000 square foot center sits on a 6.1-acre lot and features three single-story buildings constructed in 1980 and renovated in 2020. Currently boasting a 72% occupancy rate with five tenants including Hobby Lobby, Harbor Freight, Big Lots, and Marshalls, the property generates a net operating income (NOI) of $110,000, resulting in a 3.15% cap rate. The asking price is $3,495,000, translating to $60.26 per square foot. The property is zoned C-3 and offers significant upside potential with 210,000 square feet of air rights. The net rentable area is 24,900 square feet, and the land value is $1.95 per square foot. The property benefits from a triple-net (NNN) lease structure with credit-rated tenants and rent bumps. Parking is ample, with 60 spaces per unit. The current lease term has 5 years remaining, and lease options are available. This multi-tenant property is a strong investment opportunity for those seeking a redevelopment project with established national tenants and significant growth potential in a thriving Nebraska community. The property is currently undergoing redevelopment by the owner, with a new credit union slated to open in 2023.
Value Estimation
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CAP approach
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Comparable approach
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Alternative Use
Location Insight
- Map
- Local Demand
- City
- Alliance
- County
- Box Butte
- State
- Nebraska
- Longitude
- -102.89
- Latitude
- 42.0956
