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Property profile & analytics
OFF-MARKET
Estimated value
$1,360,000
Retail space
1712 Charleston Dr, Papillion, NE 68133-2907
Individually Owned
10-yr Hold
~
Est. High Equity
Property ID
US57-0043802
Property summary
AI-generated overview
This exceptional freestanding retail building, located at 1712 Charleston Drive in Papillion, Nebraska, presents a unique owner-user opportunity. Boasting 9,101 square feet of space, this single-story, 2006-constructed building sits on a generous 2.14-acre lot, providing ample parking and significant expansion potential. The property enjoys excellent visibility along Cornhusker Road, ensuring high traffic and customer exposure. The building has been meticulously maintained and is zoned for limited commercial use. The asking price is $1,900,000, translating to a land value of $208 per square foot. This represents a compelling investment in a thriving Nebraska market. The property's size, location, and existing infrastructure make it ideal for a variety of retail businesses seeking a prominent presence in Papillion. With its substantial lot size and strategic placement, this property offers significant long-term growth potential. The address is 1712 Charleston Drive, Papillion, NE 68133. Serious inquiries are encouraged.
Property profile
Verified
Property type
Retail space
Use group
RETAIL STORES (PERSONAL SERVICES)
Year built
2006
Construction
STEEL FRAME
Total area
9,101 SF
Lot
2.14 ac (93,250 SF)
APN
11119381
UPID
US57-0043802
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
by Request
CAP Approach
CAP
$1.72M
Comparable Approach
Comparable
$1.33M
Blend (final)
Blend
$1.36M
Owner & transaction history
Michael Bilgere · 10 yrs held
Michael Bilgere
since 2016
7 recorded transactions
Zoning & alternative use
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Neighborhood: shopping center
$2.2M
+79.1%
Office building
$1.7M
+40.8%
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 Papillion submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Papillion 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
by Request
ML approach
by Request
CAP Approach
CAP Return
Estimation
6%
$1,865,000
6.5%
$1,720,000
7%
$1,595,000
Alternative Use
Use
Estimation
RETAIL STORES
$1,225,000
Current use
NEIGHBORHOOD: SHOPPING CENTER
$2,195,000
Change: +79% · Conversion: Moderate
OFFICE BUILDING
$1,725,000
Change: +41% · Conversion: Easy
WAREHOUSE, STORAGE
$1,165,000
Change: -5% · Conversion: Difficult
Blend value · Realmo final
$1.36M
Range $1.22M – $1.50M · ±10%
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
$149 / 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 2023Property tax & assessments
Tax year 2023
Tax billed
$16,476
Tax year 2023
Assessed value
$875,000
Assessed 2023
Previous assessed
$875,000
+0.0% YoY
Effective rate
1.88%
On assessed value
Assessed land
$606,125
Assessed improvement
$268,875
Land market value
$606,125
Improvement market value
$268,875
Total market value
$875,000
Applied tax rate
27,001.0000
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
Retail space
Use group
RETAIL STORES (PERSONAL SERVICES)
Status
Off-Market
Year built
2006
Construction
STEEL FRAME
Heating
NONE
Stories
1
Units
1
Total area
9,101 SF
Lot
2.14 ac (93,250 SF)
APN
11119381
UPID
US57-0043802
Jurisdiction
SARPY
Zoning & alternative use
Zoning · permitted uses
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Alternative use value scenarios
Repositioning upside vs current use
RETAIL STORES Current
Est. value
$1.2M
NEIGHBORHOOD: SHOPPING CENTER
Est. value
$2.2M
OFFICE BUILDING
Est. value
$1.7M
WAREHOUSE, STORAGE
Est. value
$1.2M
RETAIL STORES Current
NEIGHBORHOOD: SHOPPING CENTER
OFFICE BUILDING
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
2006
Construction
STEEL FRAME
Heating
NONE
Stories
1
Units
1
Lot
2.14 ac
Current owner
From public records · entity-resolved
Michael Bilgere
Individual
Mailing address
1903 CRST RDG DR, PAPILLION, NE 68133-2467
Mailing matches property
Yes
Owner-occupied
Yes
Ownership since
2016
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
8 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Dec 31, 2024
—
Neighborhood Community Pantry
—
Deed
related
$1,000,000 · Pinnacle Bank
Feb 29, 2016
$881,000
Michael Bilgere
Sortino Asset Management Company Ll
Warranty Deed
$888,179 · American National Bank
Jan 25, 2012
$970,000
Sortino Asset Mgmt Co LLC
Bilgere,michael & Nicole L
Warranty Deed
—
Jan 23, 2012
$970,000
Sortino Asset Mgmt Co LLC
Bilgere,michael & Nicole L
Warranty Deed
related
—
Dec 15, 2005
$257,000
Michael Bilgere
Cottonwood LP Ltd
Warranty Deed
$168,549 · American National Bank & Trust
—
—
Sortino Asset Mgmt Co LLC
—
Deed Of Trust
related
$792,000 · American National Bank & Trust
—
—
Michael A Bilgere
—
Deed Of Trust
related
$581,000 · American National Bank & Trust
—
—
Michael Bilgere
—
Deed Of Trust
related
$480,000 · Nebraska Economic Dev Corp
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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