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Property profile & analytics
OFF-MARKET
Estimated value
$1,900,000
Hotels
1311 Locust St Grand Island, NE 68801-8240
Entity Owned
2-yr Hold
~
Est. High Equity
Property ID
US57-0329440
Property profile
Verified
Property type
Hotels
Use group
HOTEL
Year built
1996
Total area
19,432 SF
Lot
0.95 ac (41,279 SF)
Zoning code
03-COMMERCIAL
APN
400130629
UPID
US57-0329440
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
-
Travelodge by Wyndham Grand Island Hotel & Motel
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$1.90M
CAP Approach
CAP
$1.92M
Comparable Approach
Comparable
by Request
Blend (final)
Blend
$1.90M
Owner & transaction history
Mahakal LLC · 2 yrs held
Mahakal LLC
since 2024
Last sale
$1.9M
4 recorded transactions
Zoning & alternative use
03-COMMERCIAL · Grand Island, NE
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Office building
$3.1M
+347.4%
Restaurant
$2.2M
+222.3%
Retail stores
$2.1M
+200.9%
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
Method
Estimation
Statistic approach
$1,900,000
ML approach
$1,900,000
CAP Approach
CAP Return
Estimation
6%
$2,075,000
6.5%
$1,915,000
7%
$1,780,000
Alternative Use
Use
Estimation
OFFICE BUILDING
$3,060,000
Change: +347% · Conversion: Difficult
RESTAURANT
$2,205,000
Change: +222% · Conversion: Difficult
RETAIL STORES
$2,055,000
Change: +201% · Conversion: Difficult
AUTO REPAIR, GARAGE
$1,850,000
Change: +171% · Conversion: Difficult
APARTMENT HOUSE (5+ UNITS)
$1,805,000
Change: +164% · Conversion: Difficult
WAREHOUSE, STORAGE
$1,665,000
Change: +144% · Conversion: Difficult
Blend value · Realmo final
$1.90M
Range $1.71M – $2.09M · ±10% · vs last sale $1.90M (Jun 11 2024)
Last sale anchor
$1.90M
Jun 11 2024
Realmo estimate · informational only.
These numbers are calculated by our models from public records and may not reflect actual market value.
Not an appraisal.
Verify with a licensed appraiser before transacting. Realmo accepts no liability for divergence from real-world outcomes.
View the full estimation — every method, every assumption
Confidence drivers & risk notes · Custom comparable set · Free for first 3 / day
Full estimation methodology
Every method · every assumption · confidence drivers
Price per SF
Sale + rent benchmarks
Subject property
$98 / SF
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
$26,263
Tax year 2022
Assessed value
$1,445,313
Assessed 2023
Previous assessed
$1,445,313
+0.0% YoY
Effective rate
1.82%
On assessed value
Assessed land
$130,698
Assessed improvement
$1,314,615
Land market value
$130,698
Improvement market value
$1,314,615
Total market value
$1,445,313
Applied tax rate
5.0000
Comparables
6 recent transactions · within 1.5 miComparable in this city
6 recent transactions
Comparable in this City
Similar Nearby for Sale
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
Hotels
Use group
HOTEL
Status
Off-Market
Year built
1996
Heating
HEAT PUMP
Cooling
YES
Stories
2
Units
1
Total area
19,432 SF
Lot
0.95 ac (41,279 SF)
Zoning code
03-COMMERCIAL
APN
400130629
UPID
US57-0329440
Jurisdiction
HALL
Zoning & alternative use
03-COMMERCIAL · Grand Island, NE
Zoning 03-COMMERCIAL · permitted uses
03-COMMERCIAL · 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.
Alternative use value scenarios
Repositioning upside vs current use
OFFICE BUILDING
Est. value
$3.1M
RESTAURANT
Est. value
$2.2M
RETAIL STORES
Est. value
$2.1M
AUTO REPAIR, GARAGE
Est. value
$1.9M
APARTMENT HOUSE (5+ UNITS)
Est. value
$1.8M
WAREHOUSE, STORAGE
Est. value
$1.7M
OFFICE BUILDING
RESTAURANT
RETAIL STORES
AUTO REPAIR, GARAGE
APARTMENT HOUSE (5+ UNITS)
WAREHOUSE, STORAGE
Alternative use deep dive — conversion cost, permits, timeline
Conversion cost estimate · Permit path & risks · Stabilized NOI per option
Alternative use deep dive
Conversion cost · permit path · stabilized NOI per option
Building & site characteristics
From public records
Year built
1996
Heating
HEAT PUMP
Cooling
Yes
Stories
2
Units
1
Lot
0.95 ac
Current owner
From public records · entity-resolved
Mahakal LLC
Entity
Mailing address
928 SUN VLY PL, GRAND ISLAND, NE 68801-8190
Ownership since
2024
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
Jun 11, 2024
$1,900,000
Mahakal LLC
Williams Hospitality LLC
Warranty Deed
$1,330,000 · Adams Bank & Trust
Feb 12, 2024
—
Williams Hospitality LLC
—
Deed
related
$75,290 · Five Points Bank
May 25, 2017
$154,111
Williams Hospitality LLC
Edwards Building Corp
Warranty Deed
—
—
—
Edwards Building Corp
—
Deed Of Trust
related
$950,000 · Exchange Bank
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.
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“Is 15.6% cap rate sustainable?” · “Best tenant mix for BU1?” · “What’s the redev upside?”
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