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Property profile & analytics
OFF-MARKET
Estimated value
$510,000
Commercial real estate
1725 31st St 1717 Central City, NE 68826-2741
Entity Owned
7-yr Hold
Absentee Owner
Free & Clear
Property ID
US57-0446053
Property profile
Verified
Property type
Commercial real estate
Use group
COMMERCIAL (GENERAL)
Year built
2021
Total area
4,368 SF
Lot
0.94 ac (40,765 SF)
Zoning code
03-COMMERCIAL
APN
0003649.10
UPID
US57-0446053
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
$600k
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$421k
Blend (final)
Blend
$510k
Owner & transaction history
Merrick County Development Corp · 7 yrs held
Merrick County Development Corp
since 2019
1 recorded transaction
Zoning & alternative use
03-COMMERCIAL · Central City, NE
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Office building
$795,000
+188.8%
Warehouse, storage
$460,000
+66.7%
Retail stores
$440,000
+60.4%
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 Central City submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Central City 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
$600,000
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
OFFICE BUILDING
$795,000
Change: +189% · Conversion: Easy
WAREHOUSE, STORAGE
$460,000
Change: +67% · Conversion: Difficult
RETAIL STORES
$440,000
Change: +60% · Conversion: Easy
Blend value · Realmo final
$510k
Range $459k – $561k · ±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
$117 / 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
$32,122
Tax year 2023
Assessed value
$2,220,495
Assessed 2023
Previous assessed
$1,242,795
+78.7% YoY
Effective rate
1.45%
On assessed value
Assessed land
$38,940
Assessed improvement
$2,181,555
Land market value
$38,940
Improvement market value
$2,181,555
Total market value
$2,220,495
Comparables
6 recent transactions · within 1.5 miComparable in this city
6 recent transactions
Comparable in this City
Similar Nearby for Sale
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
Commercial real estate
Use group
COMMERCIAL (GENERAL)
Status
Off-Market
Year built
2021
Buildings
4
Stories
2
Total area
4,368 SF
Lot
0.94 ac (40,765 SF)
Zoning code
03-COMMERCIAL
APN
0003649.10
UPID
US57-0446053
Jurisdiction
MERRICK
Zoning & alternative use
03-COMMERCIAL · Central City, NE
Zoning 03-COMMERCIAL · permitted uses
03-COMMERCIAL · Central City, NE
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Central City. Always verify with local authorities before improvements.
Alternative use value scenarios
Repositioning upside vs current use
OFFICE BUILDING
Est. value
$795,000
WAREHOUSE, STORAGE
Est. value
$460,000
RETAIL STORES
Est. value
$440,000
OFFICE BUILDING
WAREHOUSE, STORAGE
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
2021
Stories
2
Buildings
4
Lot
0.94 ac
Current owner
From public records · entity-resolved
Merrick County Development Corp
Entity
Free & Clear · 7 yrs held
Mailing address
1852 18TH RD, CENTRAL CITY, NE 68826-2263
Mailing matches property
Different — outreach signal
Owner-occupied
No
Ownership since
2019
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
1 recorded event · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
May 24, 2019
$45,000
Merrick County Development Corp
Central City Lodging INC
Corporation 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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