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    Property profile & analytics

    1115 2Nd St Hastings, NE 68901

    • Grocery and convenience stores
    • 72,546 SF
    • 2.44 lot acres
    For Lease
    View listing
    $6 SF/Yr
    Last Sale
    Oct 06, 2020
    $600,000
    Value Estimations
    $740,000
    Cap Rate Potential
    Location Intelligence
    Property ID
    US57-0556131
    The Realmo ID is a unique identifier assigned to every property, incorporating country codes and precise geo-coordinates for 300x300-foot land blocks. It enables standardized data collection and seamless integration of disparate sources such as ownership, tax, title data and physical specifications. By aggregating current and historical records, the Realmo ID powers advanced analytics and delivers deep, verifiable insights for real estate professionals.

    Current Use by Public Records

    • Allen's Food Mart at Hastings / Bakery / Gift Shop
    • Bellino Fireworks / Fireworks Store
    • Tropical Sno Hastings, Allen's / Frozen Dessert Supplier
    • Coinstar Kiosk | Bitcoin ATM / Atm / Currency Exchange Service
    • Coinme at Coinstar - Bitcoin Kiosk / Kiosk / Atm

    Property Details for 1115 2Nd St

    Year built
    1968
    Lot size
    2.44 lot acres
    Property size
    72,546 SF
    Zone code
    COMMERCIAL
    Property type
    Grocery and convenience stores
    APN
    10010221
    APU
    10010221

    Description

    This exceptional retail opportunity is located at 1115 West 2nd Street in Hastings, Nebraska, within Adams County (zip code 68901). The property boasts a total of 47,824 square feet of vacant space, currently available as multiple units. Individual spaces range from a minimum of 22,500 square feet to a maximum contiguous space of 25,324 square feet, offering flexibility for various retail concepts. The property sits on a one-acre lot and benefits from high traffic volume due to its proximity to a grocery store. The building features elevators for convenient access. This is an ideal location for businesses seeking high visibility and accessibility in a thriving Nebraska community. The entire 47,824 square feet is currently vacant, presenting a unique chance to establish a significant retail presence. The property is classified as a retail outlot, providing ample space and visibility. This prime location in Hastings offers a strong opportunity for growth and success. Interested parties should inquire for further details and lease terms.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      Statistic approach
      $740,000
      ML approach
      $995,000

    Get a detailed, property-specific valuation — fast and free

    Location Insight

    • Map
    • Local Demand
    City
    Hastings
    County
    Adams
    State
    Nebraska
    Longitude
    -98.396
    Latitude
    40.5848
    CBSA code
    25580
    CBSA name
    HASTINGS, NE MICROPOLITAN STATISTICAL AREA

    Property Tax & Assessments

    Tax date
    Tax Amount
    Assessed Land Value
    Assessed Improvement Value
    Total Assessed Value
    Applied Tax Rate
    Land Market Value
    Improvement Market Value
    Total Market Value
    2023
    $22,825
    $131,975
    $974,182
    $1,106,157
    -
    $131,975
    $974,182
    $1,106,157

    Comparable in this City

    • Value Estimation
      $320,000
      4,589 SF

      3212 Osborne E Dr

      CONVENIENCE STORE • 4,589 SF
      3212 Osborne E Dr, Hastings, NE 68901-1937
      View Details
    • Value Estimation
      $265,000
      1,440 SF

      101 3rd St

      GROCERY, SUPERMARKET • 1,440 SF
      101 3rd St, Hastings, NE 68901-5221
      View Details
    • Value Estimation
      $275,000
      2,524 SF

      100 5th St

      GROCERY, SUPERMARKET • 2,524 SF
      100 5th St, Hastings, NE 68901-5228
      View Details
    • Value Estimation
      $750,000
      3,384 SF

      500 Burlington Ave

      CONVENIENCE STORE • 3,384 SF
      500 Burlington Ave, Hastings, NE 68901-5909
      View Details
    • Value Estimation
      $475,000
      3,775 SF

      2211 Kansas Ave

      CONVENIENCE STORE • 3,775 SF
      2211 Kansas Ave, Hastings, NE 68901-2682
      View Details
    • Value Estimation
      $290,000
      4,020 SF

      641 1st St

      GROCERY, SUPERMARKET • 4,020 SF
      641 1st St, Hastings, NE 68901-5129
      View Details

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      113,105 SF

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    Similar Nearby for Lease

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      7,500 SF retail space available for lease.
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      View Details
    • $6 SF/Yr
      47,824 SF

      Hastings Retail Outlot Opportunity

      Prime Retail Space, 22,500-25,324 SF Available
      1115 2Nd St, Hastings, NE 68901
      View Details
    • Contact for pricing
      113,105 SF

      Prime Adams County Warehouse

      113,105 SF Warehouse, I-80 Access
      300 39Th St, Hastings, NE 68901
      View Details
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    Hastings, NE 68901
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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.

    More about this property
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