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Property profile & analytics
OFF-MARKET
Estimated value
$510,000
Office buildings
205 Galvin N Rd Bellevue, NE 68005-4897
Entity Owned
4-yr Hold
~
Est. High Equity
Property ID
US57-0162761
Property profile
Verified
Property type
Office buildings
Use group
OFFICE BUILDING
Year built
1986
Construction
WOOD FRAME
Total area
2,501 SF
Lot
0.35 ac (15,141 SF)
Zoning code
1
APN
11177497
UPID
US57-0162761
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
Current use
Occupant on record · Public records
-
Landscaping - Bellevue | Landscapers - Bellevue, NE | Chop Chop Landscaping - Bellevue, NE General Contractor
-
Binning & Plambeck Law Firm Child Welfare Organization
-
Plambeck Michael J Law Firm
-
Pamela O. Aldinger, MSED Counselor
-
Leanna Ludlow, MA Counselor Doctor
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$515k
CAP Approach
CAP
$580k
Comparable Approach
Comparable
$637k
Blend (final)
Blend
$510k
Owner & transaction history
Langer Properties And Development L · 4 yrs held
Langer Properties And Development L
since 2022
Last sale
$525,000
7 recorded transactions
Zoning & alternative use
1 · Bellevue, NE
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Source
TABLE OF CONTENTS
Top alternative use upside
Neighborhood: shopping center
$605,000
+27.2%
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 Bellevue submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Bellevue 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
$470,000
ML approach
$515,000
CAP Approach
CAP Return
Estimation
6%
$630,000
6.5%
$580,000
7%
$540,000
Alternative Use
Use
Estimation
OFFICE BUILDING
$475,000
Current use
NEIGHBORHOOD: SHOPPING CENTER
$605,000
Change: +27% · Conversion: Difficult
Blend value · Realmo final
$510k
Range $459k – $561k · ±10% · vs last sale $525k (Jan 3 2022)
Last sale anchor
$525k
Jan 3 2022
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
$204 / 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
$7,058
Tax year 2023
Assessed value
$334,255
Assessed 2023
Previous assessed
$334,255
+0.0% YoY
Effective rate
2.11%
On assessed value
Assessed land
$45,423
Assessed improvement
$288,832
Land market value
$45,423
Improvement market value
$288,832
Total market value
$334,255
Applied tax rate
10,002.0000
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
Office buildings
Use group
OFFICE BUILDING
Status
Off-Market
Year built
1986
Construction
WOOD FRAME
Heating
CENTRAL
Cooling
CENTRAL
Stories
1
Units
1
Total area
2,501 SF
Lot
0.35 ac (15,141 SF)
Zoning code
1
APN
11177497
UPID
US57-0162761
Jurisdiction
SARPY
Zoning & alternative use
1 · Bellevue, NEZoning 1 · permitted uses
1 · Bellevue, NE
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Source
TABLE OF CONTENTS
Alternative use value scenarios
Repositioning upside vs current use
OFFICE BUILDING Current
Est. value
$475,000
NEIGHBORHOOD: SHOPPING CENTER
Est. value
$605,000
OFFICE BUILDING Current
NEIGHBORHOOD: SHOPPING CENTER
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
1986
Construction
WOOD FRAME
Heating
CENTRAL
Cooling
Yes
Stories
1
Units
1
Lot
0.35 ac
Current owner
From public records · entity-resolved
Langer Properties And Development L
Entity
Mailing address
7602 COUNTY RD 33, BLAIR, NE 68008-6564
Ownership since
2022
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
11 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Apr 8, 2026
—
Langer Properties And Developm
—
Deed
related
$370,000 · Nebraska Bank/commerce
Sep 10, 2025
—
Langer Properties And Development L
—
Deed
related
$1,613,458 · Nebraska Bank Of Commerce
Jan 3, 2022
$525,000
Langer Properties And Development L
Fairview Property Management LLC
Warranty Deed
$363,000 · Bank Of The Valley
Jul 19, 2016
—
Fairview Property Management LLC
Equilaw INC
Quit Claim Deed
related
$332,000 · Mutual Of Omaha Bank
—
—
Equilaw INC
—
Deed Of Trust
related
$59,917 · American National Bank & Trust
—
—
Equilaw INC
—
Deed Of Trust
related
$40,260 · American National Bank & Trust
—
—
Equilaw INC
—
Loan Modification
related
$277,500 · Bank Of The West
—
—
Equilaw INC
—
Deed Of Trust
related
$250,000 · Bank Of The West
—
—
Equilaw INC
—
Deed Of Trust
related
$230,388 · American National Bank & Trust
—
—
Equilaw INC
—
Deed Of Trust
related
$190,000 · American National Bank & Trust
—
—
Equilaw INC
—
Deed Of Trust
related
$32,154 · American National Bank & Trust
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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