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Property profile & analytics
OFF-MARKET
Estimated value
$275,000
Investment properties
2224 Y St Lincoln, NE 68503-1668
Entity Owned
14-yr Hold
Absentee Owner
~
Est. High Equity
Property ID
US57-0234477
Property profile
Verified
Property type
Investment properties
Use group
OFFICE/RESIDENTIAL (MIXED USE)
Year built
1950
Total area
4,590 SF
Lot
0.15 ac (6,349 SF)
Zoning code
B3
APN
10-24-213-015-000
UPID
US57-0234477
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
$860k
Comparable Approach
Comparable
$842k
Blend (final)
Blend
$275k
Owner & transaction history
Modak Dev LLC · 14 yrs held
Modak Dev LLC
since 2012
2 recorded transactions
Zoning & alternative use
B3 · Lincoln, NE
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Retail stores
$975,000
+62.3%
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 Lincoln submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Lincoln 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%
$930,000
6.5%
$860,000
7%
$795,000
Alternative Use
Use
Estimation
COMMERCIAL (GENERAL)
$600,000
Current use
RETAIL STORES
$975,000
Change: +62% · Conversion: Easy
Blend value · Realmo final
$275k
Range $248k – $303k · ±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
$60 / 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 2024Property tax & assessments
Tax year 2024
Tax billed
$9,825
Tax year 2024
Assessed value
$549,700
Assessed 2024
Previous assessed
$525,600
+4.6% YoY
Effective rate
1.79%
On assessed value
Assessed land
$23,800
Assessed improvement
$525,900
Land market value
$23,800
Improvement market value
$525,900
Total market value
$549,700
Applied tax rate
1.0000
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
Investment properties
Use group
OFFICE/RESIDENTIAL (MIXED USE)
Status
Off-Market
Year built
1950
Heating
YES
Cooling
YES
Buildings
2
Stories
1
Units
1
Total area
4,590 SF
Lot
0.15 ac (6,349 SF)
Zoning code
B3
APN
10-24-213-015-000
UPID
US57-0234477
Jurisdiction
LANCASTER
Zoning & alternative use
B3 · Lincoln, NEZoning B3 · permitted uses
B3 · Lincoln, NE
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
COMMERCIAL (GENERAL) Current
Est. value
$600,000
RETAIL STORES
Est. value
$975,000
COMMERCIAL (GENERAL) Current
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
1950
Heating
YES
Cooling
Yes
Stories
1
Buildings
2
Units
1
Lot
0.15 ac
Current owner
From public records · entity-resolved
Modak Dev LLC
Entity
Mailing address
129 N 10TH ST APT #107, LINCOLN, NE 68508-3666
Mailing matches property
Different — outreach signal
Owner-occupied
No
Ownership since
2012
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
2 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Jul 16, 2012
$175,000
Modak Dev LLC
Lybarger Robert A
Grant Deed
$115,000 · Pinnacle Bank
—
—
Modak Dev LLC
—
Deed Of Trust
related
$225,000 · Cattle Nat'l Bank & Trust Co
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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