Property profile

115 Main St Chadron, NE 69337

OFF-MARKET
Commercial real estate
Property ID
US57-0609316
11,552 SF 0.28 ac lot Built 1890
Individually Owned 6-yr Hold Free & Clear
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Property summary

AI-generated overview

This exceptional $575,000 investment opportunity presents a 17,100 square foot office building located at 115 Main Street in Chadron, Nebraska, zip code 69337. The property boasts a rich history, having served as the Olde Main Street Inn, a nationally registered historic hotel established in 1890. The main building encompasses 14,560 square feet and includes nine rooms, a mix of overnight rooms and suites, all meticulously decorated with vintage furnishings. The ground floor features a restaurant and saloon, each with a 100-person capacity, and a classic bar. A substantial manager's residence, totaling 600 square feet, is also included, featuring a large great room, two living rooms, three bedrooms, two and a half bathrooms, a kitchen, laundry facilities, an office, and storage rooms. This space offers versatile potential as a rental unit. The property further includes a charming garden and a separate smaller building, suitable for conversion into a cottage or retail space. The property's location in Chadron offers proximity to Chadron State College, Chadron State Park, Fort Robinson State Park, and is within two hours of the Black Hills and Rapid City, South Dakota. Personal property is available for separate negotiation. This presents a unique opportunity to acquire a piece of Nebraska history with significant potential for future development and income generation.

Property profile

Verified
Property type Commercial real estate
Use group COMMERCIAL (GENERAL)
Year built 1890
Total area 11,552 SF
Lot 0.28 ac (12,100 SF)
Zoning code 03-COMMERCIAL
APN 230004594
UPID US57-0609316

Cap rate & NOI

Priority signal for investors
Implied cap rate, NOI & suggested price
Cap rate vs submarket · NOI estimate · 3 price anchors

Current use

Occupant on record · Public records
  • Hotel & Motel
  • Bar & Pub

Location

115 Main St Chadron, NE 69337-2353
Chadron metro Census 950700
Google Maps

Value estimations

Realmo proprietary · 4 methods
AI Approach AI
$345k
CAP Approach CAP
by Request
Comparable Approach Comparable
by Request
Blend (final) Blend
$345k

Owner & transaction history

since 2019
2 recorded transactions
2019
Price N/A
2019
Price N/A

Zoning & alternative use

03-COMMERCIAL · Chadron, NE

Comparables

6 recent transactions · within 1.5 mi
Comparable in this city
6 recent transactions
Recent comparable sales
Sale price & price/SF · Sale date & distance · Adjustments & confidence
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