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

    1633 Normandy Ct Lincoln, NE 68512-1473

    • Office Properties & Spaces
    • 6,000 SF
    • 0.44 lot acres
    OFF-MARKET
    Last Sale
    Oct 09, 2024
    $1,000,000
    Value Estimations
    $1,070,000
    Show details
    Cap Rate Potential
    7.3%
    Office Properties & Spaces
    Location Intelligence
    Property ID
    US57-0117406
    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

    • Nebraska Doctors of Optometry / Optometrist
    • Elam Group / Employment Agency
    • Naifa-NE / Non-Profit Organization
    • The North Central States Optometric Council / Council
    • Ne Children Vision / Consultant

    Property Details for 1633 Normandy Ct

    Year built
    2004
    Lot size
    0.44 lot acres
    Property size
    6,000 SF
    Zone code
    B2
    Property type
    Office Properties & Spaces
    APN
    09-12-318-006-000
    APU
    912318006000

    Description

    This exceptional Class A office building, constructed in 2003, offers 6,000 square feet of versatile space situated on a 19,149 square foot lot at 1633 Normandy CT, Lincoln, NE 68512. The property boasts a highly desirable location at the intersection of S. 16th and Old Cheney Road, providing excellent visibility and easy access. The single-story building features three available suites ranging from 2,000 to 4,500 square feet, each offering ground-level access and customizable layouts. Suite configurations include a mix of perimeter and interior offices, open areas ideal for modular furniture, and convenient breakroom/kitchenette facilities. Each suite also includes two unisex restrooms. Ample parking is available with over 25 stalls directly adjacent to the building. The property benefits from prominent building signage opportunities, proximity to numerous amenities, and adjacency to a walk/bike trail. The B2 - Planned Neighborhood Business District zoning allows for a variety of commercial uses. This is a truly exceptional opportunity for businesses seeking a high-quality, well-located office space in Southwest Lincoln.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      Statistic approach
      $1,000,000
      ML approach
      $1,000,000

    • CAP approach

      CAP Return
      Estimation
      6%
      $1,215,000
      6.5%
      $1,120,000
      7%
      $1,040,000

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $1,185,000
      Market price range: $725k - $1.33M
      AI Estimate
      $666,000
      Market price range: $223k - $959k

    • Alternative Use

      Use
      Estimation
      COMMERCIAL (GENERAL)
      $975,000
      Current use
      RETAIL STORES
      $1,275,000
      Change: +31% Conversion: Easy

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

    Location Insight

    • Map
    • Local Demand
    City
    Lincoln
    County
    Lancaster
    State
    Nebraska
    Longitude
    -96.6974
    Latitude
    40.7566
    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
    $17,373
    $124,500
    $847,500
    $972,000
    -
    $124,500
    $847,500
    $972,000

    Comparable in this City

    • Value Estimation
      $555,000
      10,153 SF

      8555 Executive Woods Dr

      OFFICE (GENERAL) • 10,153 SF
      8555 Executive Woods Dr, Lincoln, NE 68512-9305
      View Details
    • Value Estimation
      $535,000
      6,801 SF

      1300 Garret Ln

      OFFICE (GENERAL) • 6,801 SF
      1300 Garret Ln, Lincoln, NE 68512-9914
      View Details
    • Value Estimation
      $1,055,000
      43,236 SF

      1345 Old Cheney Rd

      OFFICE (GENERAL) • 43,236 SF
      1345 Old Cheney Rd, Lincoln, NE 68512-1266
      View Details
    • Value Estimation
      $405,000
      2,211 SF

      1415 Old Farm Rd

      OFFICE (GENERAL) • 2,211 SF
      1415 Old Farm Rd, Lincoln, NE 68512-1805
      View Details
    • Value Estimation
      $1,635,000
      8,736 SF

      1631 Cushman Dr

      OFFICE (GENERAL) • 8,736 SF
      1631 Cushman Dr, Lincoln, NE 68512-1207
      View Details
    • Value Estimation
      $4,805,000
      10,262 SF

      1240 Aries Dr

      OFFICE (GENERAL) • 10,262 SF
      1240 Aries Dr, Lincoln, NE 68512-9100
      View Details

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    1633 Normandy Ct
    Lincoln, NE 68512-1473
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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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