621 48Th StLincoln, NE 68504

Property Details for 621 48Th St

Year built

1967

Lot size

1.40 AC

Property size (Sq ft)

9,475 SF

Zone code

B1

Property type

Retail properties

Property subtype

Retail space

APN

17-20-323-002-000

APU

1720323002000

Description

This exceptional retail opportunity is located at 621 North 48th Street in Lincoln, Nebraska, within the highly desirable 48th & Vine area. The property, built in 1967, boasts a total of 9,475 square feet situated on a 1.4-acre lot. The zoning is B1, allowing for a variety of commercial uses. Currently, two spaces are available for lease, one measuring approximately 1,100 square feet and the other approximately 1,362 square feet, ideal for a variety of retail or restaurant concepts. The property is a multi-tenant strip center, offering excellent visibility and accessibility. Strong existing tenants include Salon Centric, Papa John's Pizza, Goodwill, Ace Hardware, and the recently announced VASA Fitness, creating a vibrant and thriving retail environment. This location benefits from high traffic counts and proximity to other businesses and retailers, ensuring significant foot traffic and exposure for prospective tenants. The property is move-in ready, presenting an immediate opportunity to establish a presence in a prime Lincoln location. Lancaster County location and 68504 zip code offer easy access to major transportation routes and a dense residential population. This is a rare opportunity to secure retail space in a high-demand area with established anchors and significant growth potential.

• CAP approach

  CAP return

  Valuation

  6%

  $2,573,516

  6.5%

  $2,375,554

  7%

  $2,205,871

• Comparable approach

  Method

  Valuation

  Relative Method

  $1,707,922

  Geo Method

  $1,707,922

• Alternative Use

  Use

  Valuation

  Residential

  $2,003,868

  Hospitality

  $1,835,533

  Educational

  $1,527,142

  Medical

  $1,579,662

  Retail

  $2,375,554

Location Insight

City

Lincoln

County

Lancaster

State

Nebraska

Latitude

40.8194

Longitude

-96.6547

CBSA code

30700

CBSA name

LINCOLN, NE METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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