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Property profile & analytics
OFF-MARKET
Estimated value
$1,025,000
Office Spaces
150 40th St Ste Lincoln, NE 68528-2210
Individually Owned
3-yr Hold
Free & Clear
Property ID
US57-0102556
Property profile
Verified
Property type
Office Spaces
Use group
OFFICE (GENERAL)
Year built
2008
Total area
7,152 SF
Lot
1.17 ac (50,878 SF)
Zoning code
H4
APN
10-20-302-007-009
UPID
US57-0102556
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
-
American Legion Department of NE Advocacy Group Social Service Agency
-
American Legion Nebraska Headquarter Association Or Organization
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$1.11M
CAP Approach
CAP
$1.34M
Comparable Approach
Comparable
$1.05M
Blend (final)
Blend
$1.03M
Owner & transaction history
The American Legion · 3 yrs held
The American Legion
since 2023
Last sale
$945,000
2 recorded transactions
Zoning & alternative use
H4 · Lincoln, NE
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Retail stores
$1.5M
+77.5%
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 Lincoln submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Lincoln 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
$1,050,000
ML approach
$1,110,000
CAP Approach
CAP Return
Estimation
6%
$1,450,000
6.5%
$1,335,000
7%
$1,240,000
Alternative Use
Use
Estimation
COMMERCIAL (GENERAL)
$855,000
Current use
RETAIL STORES
$1,520,000
Change: +77% · Conversion: Easy
Blend value · Realmo final
$1.03M
Range $923k – $1.13M · ±10% · vs last sale $945k (Apr 4 2023)
Last sale anchor
$945k
Apr 4 2023
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
$143 / 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 2024Property tax & assessments
Tax year 2024
Assessed value
$1,004,100
Assessed 2024
Previous assessed
$941,400
+6.7% YoY
Assessed land
$190,800
Assessed improvement
$813,300
Land market value
$190,800
Improvement market value
$813,300
Total market value
$1,004,100
Applied tax rate
9,400.0000
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 Spaces
Use group
OFFICE (GENERAL)
Status
Off-Market
Year built
2008
Heating
YES
Cooling
YES
Stories
1
Units
1
Total area
7,152 SF
Lot
1.17 ac (50,878 SF)
Zoning code
H4
APN
10-20-302-007-009
UPID
US57-0102556
Jurisdiction
LANCASTER
Zoning & alternative use
H4 · Lincoln, NE
Zoning H4 · permitted uses
H4 · Lincoln, NE
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Lincoln. Always verify with local authorities before improvements.
Alternative use value scenarios
Repositioning upside vs current use
COMMERCIAL (GENERAL) Current
Est. value
$855,000
RETAIL STORES
Est. value
$1.5M
COMMERCIAL (GENERAL) Current
RETAIL STORES
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
2008
Heating
YES
Cooling
Yes
Stories
1
Units
1
Lot
1.17 ac
Current owner
From public records · entity-resolved
The American Legion
Individual
Free & Clear · 3 yrs held
Mailing address
150 NW 40TH ST STE A, LINCOLN, NE 68528-2223
Mailing matches property
Yes
Owner-occupied
Yes
Ownership since
2023
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
2 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Apr 4, 2023
$945,000
The American Legion
Akrs Equipment Solutions INC
Warranty Deed
—
Dec 2, 2014
$850,000
Plains Equipment Group INC
State Troopers Assn Of Nebraska
Grant Deed
—
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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