101 27th St Lincoln, NE 68503-3510

Property Details for 101 27th St

Year built

1958

Lot size

0.33 lot acres

Property size

4,260 SF

Zone code

B3

Property type

Retail space

APN

10-24-441-010-000

APU

1024441010000

Description

This Lincoln, Nebraska retail storefront at 101 N 27th St offers a compelling value-add investment opportunity. The 4,260 square foot property, built in 1958, is situated on a 14,217 square foot lot and boasts a prominent location on a high-traffic intersection exceeding 60,000 vehicles per day. Currently housing four tenants with long-term leases, the property generates a pro-forma NOI of $59,265, representing a 7.27% pro-forma cap rate. The asking price is $815,000, translating to $191.31 per square foot and $57.33 per square foot for the land. The property is zoned B-3, allowing for flexibility in usage. The absence of setback requirements and landlord-friendly lease terms make this an attractive option for owner-occupants or those seeking redevelopment potential. The property's location in a designated Tax Increment Financing (TIF) eligible area presents additional investment incentives. This single-story, multi-tenant NNN-leased property presents a strong cash flow with potential for significant appreciation. The current tenant credit status is unrated. This is a rare opportunity to acquire a well-located retail property in a growing market.