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Property profile & analytics
FOR LEASE
Medical Office Space

1502 S Washington St Papillion, NE 68046

7,500 SF 0.94 ac lot Built 2002
Entity Owned 4-yr Hold ~ Est. High Equity
Property ID
US57-0108614
Property summary
AI-generated overview

This exceptional two-story, 15,000 square foot Class B medical office building in Papillion, Nebraska, offers multiple tenancy options. Suites range from 3,562 to 5,844 contiguous square feet, ideal for a variety of medical and traditional office users. The property sits on a 41,112 square foot lot and boasts a newly remodeled first-floor common area and new digital monument signage. Its prime location offers excellent proximity to CHI Midland's Hospital, providing convenient access for patients and staff. The building features convenient "park at your door" entrances. Current tenants include an oral surgeon and family medicine practice, creating a synergistic environment. A market tenant improvement package is available for medical tenants. The building is professionally managed and zoned CC. This is a unique opportunity to secure high-quality office space in a thriving Nebraska community. The property consists of one building with two stories.

Property profile
Verified
Property type Medical Office Space
Use group MEDICAL BUILDING
Year built 2002
Construction WOOD FRAME
Total area 7,500 SF
Lot 0.94 ac (41,114 SF)
APN 11028963
UPID US57-0108614
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
Value estimations
Realmo proprietary · 4 methods
AI Approach AI
$1.51M
CAP Approach CAP
$1.56M
Comparable Approach Comparable
$1.66M
Blend (final) Blend
$1.69M
Owner & transaction history
Jjcb LLC · 4 yrs held
Jjcb LLC
since 2022
Last sale
$1.9M
7 recorded transactions
2023
Price N/A
2022
$1.9M
2022
Price N/A
2016
$345,000
2006
Price N/A
1969
Price N/A
1969
Price N/A
Zoning & alternative use
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Restaurant $2.5M +117.4%
Neighborhood: shopping center $1.4M +23.7%
Retail stores $1.2M +3.5%
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“Is 15.6% cap rate sustainable?” · “Best tenant mix for BU1?” · “What’s the redev upside?”
More about this property
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