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    The Largest CRE Database in the US with Over 1 Million Listings
    Property profile & analytics

    1601 Q St Lincoln, NE 68508-1640

    • Retail space
    • 14,760 SF
    • 0.96 lot acres
    OFF-MARKET
    Last Sale
    Feb 12, 2020
    $3,150,000
    Value Estimations
    $4,565,000
    Show details
    Cap Rate Potential
    3.8%
    Retail space
    Location Intelligence
    Property ID
    US57-0145538
    The Realmo ID is a unique identifier assigned to every property, incorporating country codes and precise geo-coordinates for 300x300-foot land blocks. It enables standardized data collection and seamless integration of disparate sources such as ownership, tax, title data and physical specifications. By aggregating current and historical records, the Realmo ID powers advanced analytics and delivers deep, verifiable insights for real estate professionals.

    Current Use by Public Records

    • Papa John's Pizza / Pizza Restaurant
    • Casey’s / Pizza Restaurant / Gas Station
    • Insomnia Cookies / Dessert Shop

    Property Details for 1601 Q St

    Year built
    1993
    Lot size
    0.96 lot acres
    Property size
    14,760 SF
    Zone code
    B4
    Property type
    Retail space
    APN
    10-24-318-017-000
    APU
    1024318017000

    Description

    This exceptional retail opportunity is located at 1601 Q Street in Lincoln, Nebraska, zip code 68508. The property is a strip center offering flexible space ideal for a variety of retail or restaurant uses. Currently, there is one contiguous space of 3,440 square feet available, although smaller spaces starting at 1,000 square feet can be created. The property boasts a strong tenant mix, including Casey's general store, Insomnia Cookies, Breakfast Unhinged, and a national sandwich chain, ensuring high foot traffic and visibility. This prime location provides excellent access and convenience for customers. The property also offers the significant advantage of 68 parking stalls, ensuring ample parking for both tenants and their customers. The available space presents a unique chance to establish a business in a thriving commercial area with established successful businesses as neighbors. The flexible space allows for customization to suit specific business needs, making it an attractive option for a variety of retail or restaurant concepts. Don't miss this opportunity to secure a space in this high-demand location.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      Statistic approach
      $4,550,000
      ML approach
      $4,425,000

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $4,618,000
      Market price range: $1.55M - $4.62M

    Get a detailed, property-specific valuation — fast and free

    Location Insight

    • Map
    • Local Demand
    City
    Lincoln
    County
    Lancaster
    State
    Nebraska
    Longitude
    -96.6975
    Latitude
    40.8155
    CBSA code
    30700
    CBSA name
    LINCOLN, NE METROPOLITAN STATISTICAL AREA

    Property Tax & Assessments

    Tax date
    Tax Amount
    Assessed Land Value
    Assessed Improvement Value
    Total Assessed Value
    Applied Tax Rate
    Land Market Value
    Improvement Market Value
    Total Market Value
    2024
    $61,185
    $1,522,500
    $1,900,800
    $3,423,300
    -
    $1,522,500
    $1,900,800
    $3,423,300

    Comparable in this City

    • Value Estimation
      $460,000
      9,140 SF

      1320 O St

      RETAIL STORES (PERSONAL SERVICES) • 9,140 SF
      1320 O St, Lincoln, NE 68508-1511
      View Details
    • Value Estimation
      $330,000
      7,392 SF

      1033 O St, Unit 3

      RETAIL STORES (PERSONAL SERVICES) • 7,392 SF
      1033 O St, Lincoln, NE 68508-3636
      View Details
    • Value Estimation
      $340,000
      3,478 SF

      211 12th St, Unit 4

      RETAIL STORES (PERSONAL SERVICES) • 3,478 SF
      211 12th St, Lincoln, NE 68508-9956
      View Details
    • Value Estimation
      $295,000
      1,256 SF

      211 12th St, Unit 3

      RETAIL STORES (PERSONAL SERVICES) • 1,256 SF
      211 12th St, Lincoln, NE 68508-9956
      View Details
    • Value Estimation
      $355,000
      2,685 SF

      916 13th St

      RETAIL STORES (PERSONAL SERVICES) • 2,685 SF
      916 13th St, Lincoln, NE 68508-3531
      View Details
    • Value Estimation
      $420,000
      8,797 SF

      200 11th Sts100

      RETAIL STORES (PERSONAL SERVICES) • 8,797 SF
      200 11th Sts100, Lincoln, NE 68508-1451
      View Details

    Similar Nearby for Sale

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      Lincoln Center Redevelopment Opportunity

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    Similar Nearby for Lease

    • $8 SF/Yr
      7,100 SF

      Downtown Lincoln Corner Retail Space

      Prime corner location with excellent natural light and onsite parking.
      1701 O St, Lincoln, NE 68508
      View Details
    • $11 SF/Yr
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      Unique blend of old-world charm and contemporary functionality.
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      View Details
    • $24 SF/Yr
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      Prime Retail Space Available

      Renovated retail space near University of Nebraska campus.
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      View Details
    • $15 SF/Yr
      15,500 SF

      Downtown Retail or Office Space

      Flexible space near University of Nebraska and Haymarket District.
      235 S 11Th St, Lincoln, NE 68508
      View Details
    • $14 SF/Yr
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      Haymarket District Retail or Office

      Versatile retail or office space in Lincoln's vibrant Haymarket District.
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      View Details
    • $6 SF/Yr
      4,049 SF

      Downtown Lincoln Retail Spaces

      Prime Location, Two Units Available
      210 14Th St, Lincoln, NE 68508
      View Details
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    1601 Q St
    Lincoln, NE 68508-1640
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    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
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