Back to Search
Property profile & analytics
OFF-MARKET
Office buildings
129 Melody Ln Grand Island, NE 68803-7004
Entity Owned
1-yr Hold
Free & Clear
Property ID
US57-0349117
Property profile
Verified
Property type
Office buildings
Use group
OFFICE BUILDING
Year built
1968
Total area
1,140 SF
Lot
41.04 ac (1,787,702 SF)
Zoning code
05-AGRICULTURAL
APN
400151294
UPID
US57-0349117
Cap rate & NOI
Priority signal for investors
Implied cap rate, NOI & suggested price
Cap rate vs submarket · NOI estimate · 3 price anchors
Implied cap rate, NOI & suggested price
Cap vs submarket · NOI estimate · 3 price anchors
Current use
Occupant on record · Public records
-
West Park Plaza Hardware & Home Improvement Real Estate Agency
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
by Request
Blend (final)
Blend
by Request
Owner & transaction history
Spectrum Pacific West LLC · 1 yrs held
Spectrum Pacific West LLC
since 2025
4 recorded transactions
Zoning & alternative use
05-AGRICULTURAL · Grand Island, NE
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Cap rate
Implied · in-place · derived from last sale + estimated NOI
Implied Cap rate
#1
Implied · in-place · NOI ÷ last sale
In-place · derived from last sale + estimated NOI
Cap rate, NOI & submarket benchmark
Implied cap rate vs Grand Island submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Grand Island submarket · NOI estimate · typical band, median & reading
Refine your cap rate
8-question underwriting flow
1.
Property current status — Going-In vs Stabilized
2.
Price for denominator — asking / offer / market
3.
Leasing status & lease structure (NNN / Gross)
4.
Tenant risk profile & vacancy assumption
5.
Upload T12 / rent roll / OM (optional)
Refine in 60 seconds, get exact suggested price
T12 upload · Submarket benchmarks · Sensitivity grid
Suggested price · 3 cap rate anchors
Income approach @ 5% / 7% / 9% — aggressive / typical / conservative
Suggested price at 5% / 7% / 9% cap
Aggressive / typical / conservative · Implied $/SF per anchor · Sensitivity grid
Suggested price at 5% / 7% / 9% cap
Aggressive / typical / conservative · implied $/SF · sensitivity
Value
AI, CAP & Alternative Use estimations · Realmo proprietary blendValue Estimations
Based on Realmo’s proprietary methodology
AI Approach
CAP Approach
Comparable Approach
Alternative Use
Get a detailed, property-specific estimation — fast and free
Price per SF
Sale + rent benchmarks
Subject property
—
Submarket sale & rent benchmarks
Median sale $/SF · Asking & closed rent · Submarket vacancy
Submarket sale & rent benchmarks
Median sale $/SF · asking & closed rent · submarket vacancy
Property tax & assessments
Tax year 2022Property tax & assessments
Tax year 2022
Tax billed
$41,017
Tax year 2022
Assessed value
$2,257,222
Assessed 2023
Previous assessed
$2,257,222
+0.0% YoY
Effective rate
1.82%
On assessed value
Assessed land
$263,529
Assessed improvement
$1,993,693
Land market value
$263,529
Improvement market value
$1,993,693
Total market value
$2,257,222
Applied tax rate
45.0000
Comparables
6 recent transactions · within 1.5 miComparable in this city
6 recent transactions
Comparable in this City
Similar Nearby for Sale
Similar Nearby for Lease
Recent comparable sales
Sale price & price/SF · Sale date & distance · Adjustments & confidence
Recent comparable sales
Sale price & $/SF · sale date & distance · adjustments
Property description
Physical attributes from public recordsBuilding & lot
Public records
Property type
Office buildings
Use group
OFFICE BUILDING
Status
Off-Market
Year built
1968
Heating
FORCED AIR
Cooling
YES
Buildings
3
Stories
1
Total area
1,140 SF
Lot
41.04 ac (1,787,702 SF)
Zoning code
05-AGRICULTURAL
APN
400151294
UPID
US57-0349117
Jurisdiction
HALL
Zoning & alternative use
05-AGRICULTURAL · Grand Island, NE
Zoning 05-AGRICULTURAL · permitted uses
05-AGRICULTURAL · Grand Island, NE
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Grand Island. Always verify with local authorities before improvements.
Building & site characteristics
From public records
Year built
1968
Heating
FORCED AIR
Cooling
Yes
Stories
1
Buildings
3
Lot
41.04 ac
Current owner
From public records · entity-resolved
Spectrum Pacific West LLC
Entity
Free & Clear · 1 yrs held
Mailing address
PO BOX 800729, DALLAS, TX 75380-0729
Ownership since
2025
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
4 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Feb 13, 2025
—
Spectrum Pacific West LLC
West Park Plaza Mobile Home Park Ll
Deed
—
Aug 25, 2020
—
West Park Plaza Mobile Home Park Ll
—
Deed
related
$4,455,000 · Bell Wether Enterprise Mortgage Investme
Jan 9, 2006
—
Kenneth L Hoffman
Hoffman Inv INC
Quit Claim Deed
related
—
—
—
West Park Plaza Mobile Home Pa
—
Deed Of Trust
related
$145,000,000 · Citigroup Global Markets Rlty
Coming soon
Costs & Benchmarks
Operating expenses, capex projections, utility benchmarks, and submarket comparables — all in one view.
Coming soon
Risks
Flood, climate, environmental, title, and tenant-concentration risk — surfaced with mitigations and source citations.
Try Rey
Ask anything about this address in plain English.
“Is 15.6% cap rate sustainable?” · “Best tenant mix for BU1?” · “What’s the redev upside?”
You own 129 Melody Ln?
List it free. Reach 20,000 daily buyers.
We’ve already pulled the facts. Confirm photos + price and you’re live in 2 minutes.
List this address →
Full reports are paid
Unlock the full Property Analytics report
Start free for 7 days — no card required. Full owner contacts, all 4 valuations with methodology, refine flow, comparable adjustments, foot-traffic deep dive, export to PDF / CSV.
