Sign Up Successful!
You now have access to more from Realmo!
Property Lookup
    Property Lookup
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    Back to Search
    The Largest CRE Database in the US with Over 1 Million Listings
    Property profile & analytics

    205 Main St Springfield, NE 68059-3230

    • Retail space
    • 3,615 SF
    • 0.27 lot acres
    OFF-MARKET
    Value Estimations
    Cap Rate Potential
    Location Intelligence
    Property ID
    US57-0098443
    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

    • Springfield Drug / Pharmacy / Ice Cream Shop
    • Keith R. Hentzen, RP / Pharmacy

    Property Details for 205 Main St

    Year built
    1910
    Construction
    CONCRETE BLOCKS
    Lot size
    0.27 lot acres
    Property size
    3,615 SF
    Zone code
    1
    Property type
    Retail space
    APN
    10350608
    APU
    10350608

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

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

    Location Insight

    • Map
    • Local Demand
    City
    Springfield
    County
    Sarpy
    State
    Nebraska
    Longitude
    -96.1331
    Latitude
    41.0815
    CBSA code
    36540
    CBSA name
    OMAHA-COUNCIL BLUFFS, NE-IA 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
    2023
    $2,098
    $52,272
    $77,868
    $130,140
    -
    $52,272
    $77,868
    $130,140

    Comparable in this City

    • Value Estimation
      $7,080,000
      15,038 SF

      750 Park Dr

      RETAIL STORES (PERSONAL SERVICES) • 15,038 SF
      750 Park Dr, Springfield, NE 68059
      View Details
    • Value Estimation by Request
      880 SF

      146 Main St

      RETAIL STORES (PERSONAL SERVICES) • 880 SF
      146 Main St, Springfield, NE 68059-2530
      View Details
    • Value Estimation
      $1,455,000
      9,425 SF

      700 Park Dr

      RETAIL STORES (PERSONAL SERVICES) • 9,425 SF
      700 Park Dr, Springfield, NE 68059-6800
      View Details
    • Value Estimation by Request
      1,646 SF

      121 Main St

      RETAIL STORES (PERSONAL SERVICES) • 1,646 SF
      121 Main St, Springfield, NE 68059
      View Details
    • Value Estimation by Request
      852 SF

      178th Plz

      RETAIL STORES (PERSONAL SERVICES) • 852 SF
      178th Plz, Springfield, NE 68059
      View Details
    • Value Estimation by Request
      3,510 SF

      Washington St

      RETAIL STORES (PERSONAL SERVICES) • 3,510 SF
      Washington St, Springfield, NE 68059
      View Details

    Similar Nearby for Sale

    • $18,600,000
      130.00 Acres

      Prime Springfield Industrial Land

      130 Acres, Hwy 50 & Platteview Rd
      NWC Hwy 50 & Platteview Rd, Springfield, NE 68059
      View Details
    • $18,600,000

      Highway 50 Industrial Land Parcel

      Large industrial land parcel with highway access and utilities.
      15112 Highway 50 S, Springfield, NE 68059
      View Details
    • $269,000
      2.00 Acres

      Residential Land in River Ranch

      Acreage subdivision with mature trees and spectacular views.
      15619 Riha Cir, Springfield, NE 68059
      View Details
    • $995,000
      20.31 Acres

      20-Acre Property Overlooking Platte River

      20-acre property south of Springfield with Platte River views.
      17100 Highway 31 W, Springfield, NE 68059
      View Details
    • $309,000
      2.00 Acres

      Residential Land in River Ranch

      Acreage subdivision with mature trees and spectacular views.
      15727 Riha Cir, Springfield, NE 68059
      View Details
    • $399,000
      3.05 Acres

      Riverfront Lots in Villa Springs

      3.05-acre riverfront lots with 630 feet of frontage.
      106 Villa Spg, Springfield, NE 68059
      View Details
    Request Owner's contact information
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    205 Main St
    Springfield, NE 68059-3230
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    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
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    Google sign-in failed. Please try again or use another login method.
    Create New Password
    • At least 8 characters
    • Contains both letters and numbers
    • Contains uppercase and lowercase letters
    • At most 32 characters
    • Password required
    • Password reset link has expired. Please request a new one.